Claims - What Matters Most to Millennials? [Presentation]
The millennials - anyone born between 1980 and 2000 - number 80 million in the U.S. and they’ve been identified by many insurers as a generation with big growth potential. Top-performing companies further recognize that connecting with millennials requires a rethink of their social media strategy - not only for marketing to this important demographic but for other benefits.
For example, a positive claims experience that’s driven by new technology reinforces customer satisfaction among millennials. And in the age of social media, that protects brand reputations.
It’s important to engage with your customers, but especially so with millennials who expect a multi-faceted interaction. For example, it is increasingly essential to use email for sending updates to customers with open claims, and to provide mobile apps to allow people to manage their own policies.
New technologies, like wearable devices, keep arriving and are being adopted quickly. It means that insurer IT systems have to be flexible enough to respond to this influx of information, for instance to developments in cloud computing and data mining.
There’s no escaping it: Millennials are switched on to new technology. Insurers need to invest in them as customers, but they should also cultivate them as intellectual capital for the future.
For a short overview of how millennials are influencing claims performance strategy, take a look at our Slideshare below.