A majority of consumers (55 percent) want policy renewal reminders delivered via email or a smartphone. And an additional 52 percent are interested in alerts regarding changes in their policy.
FICO, a predictive analytics and decision management software company, discloses this finding in a global survey of 2,239 adult smartphone users. The survey examines consumer preferences and tendencies with regards to mobile, online and in-person interactions with insurance providers.
“The mobile phone is a tool of convenience, but it’s also intensely personal,” says Russ Schreiber, who manages FICO’s insurance practice. “People like to have information and control at their fingertips.
“With emerging mobile technology, it’s possible for insurance providers to deliver what their customers want — for example, to develop apps that send alerts as well as allowing more routine interactions like policy renewal.”
Demand for information delivered via mobile apps, text messages and social media is growing most significantly among younger people, the report finds.