Insurance companies provide a guarantee of money compensation for specified loss, damage, illness, or death in return for payment of a specified premium for a specified term. Risk management companies are facing issues in effective customer management, which can lead to backlog and financial loss.
Communication is the key to a successful business. Insurance companies are adopted many channels to communicate with the new/existing customers. Bulk SMS, a new concept can be used to do effective communication between a customer and insurance company.
To generate valid leads, insurance companies send promotional activity messages, new offer messages, policy launch messages, and how to avoid tax messages, etc.
Few example messages used by insurance companies are:
“SAVE TAX this year while insuring your life & health. INSURANCE PROTECTS YOU & YOUR LOVED ONES DURING CRISIS. For an expert advice CALL xxx.”
“PROTECT YOUR FAMILY with ONLY Rs. 7,612 for Rs. 3,00,000 sum insured. ALL HOSPITALS COVERED. CALL xxx to buy health insurance policy.”
Insurance companies send customer management messages like:
- Premium due date reminder
- Payment confirmation alert
- Policy data change confirmation
- Policy claim or status alert
- Greeting message
Few examples of the customer management messages are:
1. We acknowledge the Policy no. 56789, Premium Rs 4539. Assuring you best services at all times. For help CALL 9876543210.
2. We remind you to pay the premium of Rs 4539 on or before 20-Sep-2014. Ignore this SMS if paid. For help CALL 9876543210.
3. We wish you Many Many Happy Returns Of The Day. Let the Almighty bless you with all you aspire on this beautiful day. – XYZ Insurance.
4. We wish you a Very Happy Marriage Anniversary. Let the almighty bless you both with happiness and joy. – XYZ Insurance.
Insurance branch managers also send messages like meeting messages, motivation messages, new policy launch messages, and greeting messages to employees and agents.
Few example messages are:
1. Competition for agents from 16 May to 25 May. Do 1 to 4 policies & get spot prizes. For 5 policies and above, Memento and Honor by SDM. – Chief Manager.
2. For every policy sold by you from 22 to 27 Sep will get an attractive gift. For every block of Rs 20000 premium you will get extra commission. – Chief Manager.
Policy holders can also submit the request to insurance company by sending the message to 5 or 10 digit code. This easy information access mode and customer friendly interactive service makes policy holder’s life more easy.
Interactive communication between a policy holder and insurance company will decrease the number of backlogs in insurance payments and will increase company’s prestige and profit. By means of Bulk SMS, different entities of insurance – insurance company, branch manager, and insurance agent can easily accomplish performance targets and growth.
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