Streamlining and modifying the onboarding process through the use of technology can dramatically improve the overall customer experience by up to 43% and increase customer retention by over a third (37%). Streamlining and modifying the onboarding process through the use of technology can dramatically improve the overall customer experience by up to 43% and increase customer retention by over a third (37%). (Photo: terovesalainen/Adobestock)

With 81% of consumers wanting more self-service options for doing business, it’s no wonder insurance companies are throwing money at improving their digital online offerings.

The idea that you can use your phone or tablet to enroll for a new policy within minutes seems ideal — but the problem is, it’s not. A new survey by ABBYY has revealed that a staggering 90% of insurance companies are struggling with customer abandonment — resulting in millions of dollars in lost revenue. Their onboarding service just isn’t up to par.

 

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