The year 2020 presented plenty of challenges to the way companies do business. But each new year rings in its own set of developments, and upcoming hurdles insurance companies will need to tackle to remain successful. What’s to come in 2021?
The customer is always right
This is a longstanding belief and the best way to maintain sales—through customer satisfaction. But in 2021, the power will be shifting even more into the consumer’s hands, to the extent that they’ll be determining your business strategies for you. More and more, consumers demand very specific capabilities from their favorite companies, and insurance is no exception. They want to be able to access everything by their phone or mobile device quickly and securely. Fast transactions are the name of the game, with short loading times and very few steps to complete a transaction. Online services must be optimized for mobile and quick to complete.
Know how to use big data
Every industry collects data to understand its target audience. But it’s what an insurance company does with that data that counts. Analyzing “big data” will be a top priority in 2021. If you don’t already, it can help to work with a data analytics company for help interpreting your numbers and putting them to the best possible use.
Prevent cyber attacks
Of course, with the demand for mobile-friendly transactions comes the secondary challenge of keeping your processes and platforms safe and secure. This is especially critical when an insurance company has sensitive and confidential information about customers, such as personal health information, Social Security numbers, or even credit card numbers. A company’s ability to keep all information safe and avoid a data breach is critical. But worst-case scenario, it’s also imperative to have a plan in place in the unfortunate event that a company finds itself faced with a cyber-attack—how do you fix it and address the situation with consumers and the media?
How do you find qualified employees to help you reach your goals?
Once you have your quarterly plans in place to reach your goals in 2021, you’ll need employees with the skills to help you get the job done. This could include training your current staff or bringing in temporary staff on a per-project basis.
Check out InsuranceRecruiters.com!
We specialize in staffing for the insurance industry, and we’ll help you find the right insurance staff to meet your needs. To learn more, contact us today!
