Property and Casualty Insurance Industry Advances Digital Capabilities for Spanish Language and Smart Device-Enabled Services Expanding User Support Options Post Pandemic
Keynova Group, the leading competitive intelligence firm for digital financial services, announced the results of the Q2 2021 edition of its semi-annual Insurance Scorecard. The Insurance Scorecard measures the 12 leading U.S. insurance carriers’ digital user experience for property and casualty insurance with a focus on auto insurance. In Q2 2021, GEICO secured the leadership position, placing first based on Overall Score. The scorecard revealed key industry trends, including expanded Spanish language content and support and increased digital access to carrier services via smart devices.
“One of the constructive results of the pandemic is that insurance carriers are providing their clients more digital options to service their accounts. As a result, Spanish-language and smart device-enabled services are big areas of growth,” said Beth Robertson, managing director, Keynova Group. “The number of smart devices continues to rise, as do the growing AI analytics and virtual assistance capabilities available to support financial services customers, giving insurance carriers more runway to continue enhancing their digital properties.”
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Key Findings:
Diversifying U.S. Population Driving Greater Spanish-language Content & Support
With the Hispanic population climbing to more than 60 million in 2019 according to the U.S. Census, carriers are evolving their digital channels to support this demographic. Two-thirds of the carriers reviewed now promote access to live Spanish-language customer service representatives, with select carriers offering claims support or public website content in Spanish and enabling some Spanish language access to policyholder tasks such as making a payment or getting a copy of an ID card. There are still many untapped Spanish-language opportunities for carriers, including broadened authenticated site conversions and quote or claim forms in Spanish.
Digital Support Options Increasing with Smart Device Access
Insurance carriers continue to add support via the increasing number of smart devices, such as Alexa or Google Assistant, that are available in homes and vehicles. Rounding out carriers’ desktop chatbot and virtual assistant (VA) options offered by the majority of carriers, the scorecard revealed that nearly half of carriers evaluated now support policy management via smart devices. GEICO is the first insurer to enable a roadside assistance claim to be filed using a smart device, while several other carriers have implemented basic VA or chatbot assistance to help policyholders file claims online.
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“The widening array of self-service options enables policyholders to select the tools that best support their needs while redirecting basic queries to more efficient and cost-effective servicing channels,” Robertson added.
Syndicated for more than two decades, Keynova Group’s semi-annual, fact-based Insurance Scorecard objectively evaluates the 12 leading U.S. insurance carriers’ websites for digital user capabilities, customer experience elements and best practices, and identifies evolving trends and insights that drive digital strategy in property and casualty insurance.
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