For many general insurance brokers, an e-trading platform could be the way of the future. E-trading means that both insurers and brokers can exchange information simply and do business remotely. Saving them time, reducing stress and ensuring that all data is accurate and safely stored.
If you’re unsure if using an e-trading platform is the right step for your business, we’ve compiled a list of some of the top benefits to help you make your decision.
Provide access to customers for your insurance products
By investing in and using an e-trading platform you’ll have the opportunity to offer customers access to all of your products and tools. Meaning they’ll be able to place an order from any location, compared to the traditional floor or telephone trading.
With customers having access to products and tools this can also provide them with valuable information and help with their overall understanding of your products and policies.
Improve your businesses Return On Investment
One of the greatest advantages of general insurance brokers using an e-trading platform is the potential to improve return on investment by marketing products online. With product descriptions, images, videos, technical specifications and even consumer reviews, your customer will be able to get all the information they need.
This can also benefit smaller businesses as delivering captivating content and cutting edge products can help make a real impact. Plus, with the ability to monitor investments in real-time you’ll be able to see what is and isn’t working and adjust accordingly.
Offer insurance customers loyalty benefits and discounts
By offering exclusive loyalty benefits, deals and discounts through your e-trading platform or an online marketplace to reward customers such as Stubben Edge, you can potentially achieve great results. Not only will this enable you to entrench current customer relationships and encourage new business, but it will also help to reduce your surrenders.
These simple to use yet effective customer loyalty platforms can help boost your business and build a loyal customer base which is crucial within the competitive insurance industry.
Get to know your customers better
With how competitive the insurance industry is, an e-trading platform ensures your business stays ahead of the game and, with the proper approach, the chance to build strong customer relationships. These platforms allow you to not only get to know customers better but to improve retention and present them with value-added insurance offers.
In today’s digital world the need to be able to contact someone 24/7 is crucial and with an e-trading platform, customers can connect and communicate directly with traders for a more personalised experience any time of day. By offering competitive pricing, along with access to research and analytics, you’ll capture the attention of clients. With an excellent and personalised customer service too, users are more likely to make repeat purchases which is exactly what you, as a business, should always aim to achieve.
Take a look at our InsurXchange general insurance system and everything it has to offer.
You can also read the 4 things to look out for in an insurance tech platform to learn more.
Want to learn more?
Book a demo with one of our team members and we will work through your goals by getting to know you and your business.