Insurance and the banking industry are two institutions that often go hand in hand. However, those working within the fields may not often collaborate despite their symbiotic needs and roles. They may lack a way to communicate and transfer up-to-date information.
However, with Insurtech like Verity, the two establishments can work together. Digital platforms and systems allow the parties to talk, improving customer relations and ensuring that patrons receive appropriate and timely coverage.
Significant financial purchases often involve customers working alongside a bank, seeking mortgages or loans for the investment. Unfortunately, patrons do not always know how much insurance they need or fail to find a policy. It’s not a step to skip since insurance remains imperative to safeguarding the valuables.
Clients cite several reasons for skipping the insurance policy. They need the loan to acquire the object, but they don’t want to spend additional time hunting down agencies and checking prices. The middle man becomes cumbersome and tiresome. Forgoing protection leaves banks and individuals vulnerable should something occur.
Likewise, bank employees can find real-time, authentic customer insurance plans with an online portal. It reduces time, improves policy accuracy, and meets client and banking needs effectively.
Today’s buyers seek streamlined procedures. They’re looking for ways to cut out the excess, reduce hassles and minimize time. Insurance and banking, however, haven’t done that. Over the past few years, people applied for a loan, waited for approval, and sought insurance. The process demands shoppers spend a good deal of time researching independently.
Insurtech eliminates many bothersome frustrations by establishing agent portals. Information remains available online, allowing partners to view current plans and forge relationships between entities.
Furthermore, policies must meet financial institution guidelines. Tech such as Portal Pro provides updated information, permitting bank employees to verify authenticity and applicability.
After all, customer satisfaction remains pivotal. Forbes magazine even notes that organizations must prioritize both staff and shoppers to find themselves successful. This mentality means finding options like Insurtech to enhance services and ease employee load.
In the older format, clients filed and waited, communicating back and forth and waiting for checks to arrive by mail. This process can increase stress and dissatisfaction; Insurtech allows organizations to work together, making filing and receiving funds simpler.
In the past, financial institutions hoped customers sought solid, reliable insurance plans. Today, banks and agencies with Insurtech know they have. Technology such as Portal Pro delivers satisfaction, helping agents, banks, and customers. These efforts boost communication and finally unite two fields, working in unison.
Say goodbye to outdated systems and begin looking at a solution that will provide what you need to increase productivity, decrease costs in the long run, deliver frictionless transactions, and remain competitive in today’s environment. For more information about VRC’s Verity software and to book a demo, click here or contact us at (541) 209-0700.
