Erin Lake
Author Archives: Erin Lake

Looking to Increase Customer Satisfaction and Retention? Payment Options and Speed Will Move the Needle

insurance customer satisfaction

Auto insurers are failing to increase customer satisfaction. That’s the takeaway from J.D. Power’s 2021 U.S. Auto Insurance Study. After four years of improvement, customer satisfaction remained flat – despite the fact that auto insurers returned more than $18 billion in auto insurance premiums during 2020.  If giving back more than $18 billion isn’t enough […]

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Tackling the Evolving Claims Experience: Three Perspectives

evolving claims experience

The claims experiencing is evolving. Claimants have new expectations, adjusters have new tools, and insurance companies are evaluating ways to meet new demands while managing the risks that come with them. The evolution we’re seeing right now is a massive change that impacts every touch point in the claims process. A simple tweak here and […]

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Can You Pass Payment Processing Fees onto Insurance Policyholders?

Should You Pass Payment Processing Fees onto Insurance Policyholders

Credit card processing fees can eat into your profits – but what if you could use them to generate revenue instead? It’s possible when you allow a fee for elected outbound digital payments to insureds. You benefit from fee collection, while your policyholders benefit from convenient payment options. Credit Card Processing Isn’t Free Credit card […]

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How Insurers Can Appeal to Gen Z Buyers

How Insurers Can Appeal to Gen Z Buyers

Generation Z is ready to change the world. Businesses should take note. Generation Z includes people born after 1996. In 2021, the oldest members of this generation are 24. They’ve graduated from high school, and some of have graduated from college. They’re still young, but they can work, shop and vote. They are a vocal […]

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Two Factors Driving Digital Payment Adoption

digital payment adoption

Digital payments are quickly becoming the norm. The Federal Reserve announced that ACH transfers exceeded check payments for the first time in 2018. Since then, the adoption of digital payments has grown. Here are two factors driving the switch to digital payments. Factor #1: COVID-19 and Online Shopping The pandemic kept many people at home, […]

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The New Must-Have Feature for Insurance Software: Evergreen

Whether you’re getting a new roof on your home or upgrading your policy administration system at work, progress can be painful. The price of continual improvement is short-term inconvenience – or at least that used to be true. Now, smart insurers have found a better way. By selecting insurance software that is “evergreen,” they can […]

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Auto Industry Transformation – Here’s What’s New

The auto industry is going through some pretty major transformations right now. The changes offer both challenge and opportunity for insurers. Here’s a look at the good, the bad, and the downright ugly. Self-Driving Regulations Are Needed The race toward self-driving vehicles has been progressing more slowly than some anticipated, but it has been progressing […]

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Digital Claims Payments: What’s Happening Now

When’s the last time you wrote or cashed a paper check? More importantly, when’s the last time your customers did? Paper checks are giving way to faster, digital payment options. In the insurance industry, this trend isn’t limited to digital premium payments. Claims payments are also going digital. Customers Want Instant Payments A survey from […]

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Does the Policy Administration System You’re Considering Check All the Boxes?

Competition in the insurance industry is getting fierce. To compete with both emerging insurtechs and giant traditional insurance carriers, you need an agile, tech-forward system with progressive capabilities. If you select the wrong system, it could leave you running in place while your competition races ahead. Make sure your new policy administration system checks all […]

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