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Many insurance agents don’t fully understand the value of providing policyholders with an app. But once they discover the long-term benefits of having a mobile app for their agency, they see how investing in this kind of tool can deliver a significant return. 

In this day and age, a mobile app is no longer just a nice-to-have tool. It’s becoming a must-have for businesses that want to grab the attention of potential customers, connect with current customers better, and stand out from the competition. Just consider the following statistics:

It’s clear that mobile usage – particularly when it comes to apps – will only continue to increase. And in a highly competitive market like insurance, it’s worth capitalizing on this trend. 

But before you add a mobile app to your agency’s budget, you need to understand the value of your investment a little better. You need to learn how an app pays you back. So, how can a mobile app contribute to your company’s bottom line? 

As the stats above show, customers engage with brands via mobile now more than ever. And using a personalized, agency-branded app has great rewards when it comes to customer engagement and experience.

Let’s dig into the top three benefits of having a mobile app for your agency…

1. A Mobile App Helps with Customer Retention

One of the greatest benefits of having a mobile app is that it helps with customer retention. Customer retention is not an easy feat in a world where there are a plethora of daily distractions and new services. Both potential and current policyholders are being bombarded by ads and offers from other agencies. But a comprehensive and thoughtful mobile strategy can help build long-lasting client relationships and strengthen your position as a trusted advisor when everyone is handing out advice. 

Clients who download a mobile app already know you and want to continue their relationship with you. And the more a user interacts with your app, the more likely they are to realize what it is you can do for them – especially since an app provides access to reports and tools unavailable on your website. These more involved interactions give you an opportunity to analyze a user’s interests and deliver targeted messages. 

Ultimately, a mobile app helps with customer retention by allowing your agency to…

  • Build brand recognition
  • Stand out from the competition
  • Personalize service to deepen customer loyalty

And as a result, your customers will continue to come back time and time again for their insurance needs. 

2. It Introduces Natural Cross-Sell Opportunities

Today’s clients demand on-the-go accessibility. And one of the benefits of having a mobile app is that the tool gives them just that. Plus, it provides serious value if they can use the app to research types of insurance, quickly access information, or perform tasks on their own. For example, clients appreciate the convenience of being able to update their home inventory, report a claim, or simply pay a bill via app.  

The easier you make things for a consumer, the better. The more approachable you are – which, in today’s world, includes texting, chatting, and communicating with digital ease – the better. The more responsive you are – meaning giving them the tools they need before, during, and after events happen – the more they’ll remember the service you provided. 

Further, the less friction involved in asking for a quote, submitting a change request, and using AI to get suggestions for appropriate cross products, the greater the chances the client will not only stay with you but also look to you for additional coverage.

Because a mobile app helps customers stay in touch, manage policies, and ask better questions, you’ll build deeper relationships and stronger connections throughout every touch point. Plus, the more differentiated services and functions you provide via the app, the more they translate into a greater value for the end user.

3. An App Encourages Better Customer Relations

Another one of the benefits of having a mobile app is that it plays a role in nurturing customer relationships. A mobile app enables you to provide more personalized communication with each and every customer. For example, a push notification or important alert that arrives instantly on a client’s phone shows them you care and want to keep them informed. If they hear from you after a hailstorm, flood, or any localized event – or even when a new driver in their household has taken to the road – they know you are there to help right when they need it.

It’s this personal experience and engagement that shifts a consumer’s viewpoint. You’re no longer an insurance agency they rarely hear from, but rather a human organization that is available to listen and help. Make no mistake – putting a personalized voice to your in-app communication efforts will foster meaningful relationships with your customers and work to your agency’s advantage. 

Takeaway

As you can see, there are many benefits of having a mobile app for your agency. And when it comes down to it, your mobile app pays you back by… 

  • Helping clients get the tools they need right when they need them
  • Providing clients with access to the information they want right when they want it
  • Delivering relevant personal communication right to your clients’ devices

You shouldn’t underestimate the power of this tool, especially in a competitive market like insurance. Although you do need to make room in your budget, rest assured you can look forward to a significant return in the long run. After all, there’s no easier way to improve customer retention, introduce cross-sell opportunities, or nurture customer relationships than with an app.  

Of course, these aren’t the only benefits of having a mobile app. In fact, an app can also go a long way toward improving productivity for staff and clients. To learn how your mobile app pays back by acting as a customer service rep assistant, click here.