The general perception about insurance is that it comes into play only during times of adversity and duress. Therefore, there is little wonder that insurers are perceived to have very low engagement levels with their customer base limited to typically policy purchase, claims, and renewals.
Some of the most valued new age technology companies of today such as Google and Apple have managed to create an eco-system where they offer a wide range of services beyond their core offerings to keep their customers hooked on and constantly engaged with them. However, compared to their banking and telecom counterparts, insurance firms have typically been at a disadvantage as their presence in customer transactions has been limited to relatively infrequent transactions, which severely dent the insurer’s chances to create long term positive associations.
To begin with there is the problem of persuading people that insurance is worth the buy. Most Indians don’t really like to dwell on impending disasters that they may face and rather than treating insurance as an investment, consider it to be money spent without any immediate returns. To address this issue caused mostly due to a perceived lack of engagement, insurers over the last few years, have been offering a range of value added services that go beyond insurance and claims.
