It is beyond doubt that communication is the be-all and end-all for ensuring that human life and business life, constituting a significant part thereof, are maintained in an efficient manner! Entailing face-to-face relations with the customers, the insurance sector is one of the most critical sectors in terms of both internal communication and the correct management of customer relations.

Today, business life is evolving in direct proportion to the revised parameters of the developing world. One of the most important considerations in this new world is effective communication between the parties both within the company itself and the company’s sphere of activity. Indeed, one-sided relationships established by the senior management with the lower levels are considered as the reason for many cases of failure in the past from the viewpoint of both companies and employees. Today, this mode of communication is replaced by ‘engagement’ thanks to new approaches and technology!

Thanks to mutual communication, i.e engagement, the bond between the company and its employees can be based on much more solid ground. As a consequence, gaining customers gets quite easier. Thus, the company can readily stand out in its area of activity and reinforce its corporate reputation. The insurance sector is one of the leading sectors in which corporate reputation and accurate-instant-effective communication are of primary importance.

In the insurance sector, where gaining new customers and customer relations are of a vital importance, effective internal communication makes it much more easier to aim to increase sales and to maximize corporate success.

1. How Does the Insurance Sector Work?

The term insurance means “guarantee”. With its objective and mode of operation based strictly on this, the process of insurance comprises a financial service that provides coverage for financial damages arising out of potential risks present in human life. This process serves to secure people’s assets such as health, vehicles and property. However, as one of the sectors where competition is the fiercest, the insurance business can entail some challenges for the agencies as well as the field force.

While working in the field – i.e. during sales – insurance sales reps have to be pitch-perfect in terms of informing the customer quickly and accurately, contacting their agencies and teammates instantly for sales and sharing important documents with the customer. Failure in negotiations can be inevitable otherwise, as selling an intangible service is one of the most difficult jobs in the world. Therefore corporate internal communication applications are a key requirement in the insurance industry and particularly for the field sales force, in order to increase sales and to manage them perfectly.

The supreme power of the insurance industry is considered to be ‘communication’. All requirements for the feeling of confidence to be instilled in the customer, the information transfer by the sales rep, service preferences and sales can be fulfilled thanks to a strong communication network. This system, that plays a critical part in managing the relationship between the employees themselves as well as the employees and their customers, naturally contributes directly to the development of the corporate culture.

2. What Benefits Does Internal Communication Applications Provide to the Field Force?

Roger D’Aprix, communications consultant, says that internal engagement contributes to building a common understanding between managers and employees. D’Aprix states that it thus becomes possible for all to focus on the goal that the organization wishes to achieve, and that the most powerful effect that will drive the customers is the one observed in the field. The motivation of the field force member, acting as a bridge between the insurance agency and the customer, becomes a factor that guides the customer’s preference. Internal communication applications are critical to achieve this. Why and how?

Thanks to internal communication applications, the requirements for an increase in employee motivation, opportunities to obtain feedback and visibility can be met. This brings us to the “Better Communication = Higher Profit Model” created by the management consulting firm Bain & Company. According to this model;

• Better communication leads to higher employee satisfaction. It also increases the reputation of managers.
• Higher employee satisfaction reduces employee circulation.
• Reduced employee circulation ensures higher customer satisfaction.
• Higher customer satisfaction results in higher loyalty which in turn leads to higher profitability.

“Like a human being, a company has to have an internal communication mechanism, a ‘nervous system,’ to coordinate its actions” – Bill Gates

In a study conducted in Turkey for a global furniture company, employees were asked why they were proud to be a member of the company in question. 83 percent of employees expressed that their satisfaction was due to internal communication. 70 per cent of responses expressing satisfaction contained the phrases “being instantly aware of what’s going on, meetings and friendly relations”. To sum up – beyond informing employees of new developments and establishing mutual communication – internal communication applications are contributing to companies much more than they appear to do in numerous sectors including insurance.

3. How can Internal Communication Applications Contribute to Insurance Companies?

Having a fast and effective communication network plays a major role in both the personal and organizational success for those employed by the insurance sector. In particular, insurance that incorporates a difficult-to-sell service, is one of the most prominent occupations in terms of communicating the correct information during interactions with the customer and ensuring instant coordination with the teammates. In an industry with such a high need for information, internal communication applications are gaining momentum from employee satisfaction to customer satisfaction. So let’s shed some further light on some of the important benefits these applications offer:

3.1. Ability to establish instant communication

Those working in the insurance sector –whether in the field or within the agency itself – may need some information both among themselves and in their interactions with customers. This need can readily be met via mobile internal communication applications. In addition, any changes in appointments and branch office meetings can be announced quickly and seamlessly via the application.

Employees who have not yet seen the notifications can be viewed by authorized users of the application. Thanks to this, a clear and effective communication can be achieved contrary to the communication gap in other channels such as mail etc. Internal communication applications are also a powerful option to ensure the coordination and collaboration of call center teams of insurance agencies.

3.2. Mobile Working and Ability to Establish Mobile Communication

As it is well known, field sales reps’ work is mainly mobile. Colleagues who have to keep different appointments at different times are therefore required to communicate on a mobile basis. Unlike mail tracking and phone calls in in-house communication, internal communication applications comprise one of the most effective solutions for insurance sales reps who have a mobile working order.

3.3. Training and Ability to Readily Access Orientation Documentation

An up-to-date and living database can be created with internal communication applications. Thus, people who have just been recruited by or are already working in the insurance sector can readily access training documentation, videos and orientation presentations via the application. Thanks to this, no time is wasted while delivering the concrete documents to the colleagues in question.

Furthermore, announcements about events such as new online and face-to-face conferences, presentations, trainings, etc. can be quickly conveyed to everyone via internal communication applications. The colleagues can also add any such events to their work calendars and follow them up via the application.

3.4. Ability to easily access the required information by detailed filtering

Internal communication applications ensure easy access to a great deal of the information needed, including confirming previous agreements and contracts. Detailed filters that can be applied by subject, expertise and even branch offices of agencies enable to access the required information in literally no time. And this does no doubt have a positive effect on operational processes and the journey to earn the customer’s trust.

3.5. Increasing Employee Motivation

As apparent in Bain & Company’s model, good communication leads to employee satisfaction which in turn results in customer loyalty and high profitability ultimately. Employee satisfaction, which is at the forefront, can only be achieved through effective communication and the commitment it brings about.

An employee’s motivation can also be increased by being able to make their presence visible and by receiving public or private feedback from their colleagues or managers. While these facts are overlooked in face-to-face meetings, they can be ensured readily and effectively thanks to internal communication applications.

Are you looking for an internal communication application that can offer all these advantages and more for your insurance agency? Meet intouch! Thanks to its modular structure and extensive features that can be customized for your particular organization, you can both improve your engagement with your employees and strengthen your corporate reputation. To say nothing of experiencing how enjoyable routine business processes can turn out to be… Don’t be late to explore!

References:

• Brian Beers, “A Brief Overview of the Insurance Sector”, Investopedia, 2021.(online)
• Şerafettin Okan Yayla, ‘Sigortacılık ve Türkiye’de Sigorta Sektörünün Durumu”, Liberal Düşünce Dergisi, 2019.(online)
• “Communicating Culture Down the Line – An Interview with Roger D’Aprix”, 2014.(online)
• Elif Sungur & Fügen Toksü, “İç İletişim “İçerde” Kalabilir mi? Online İletişim Ortamlarının Kurum İçi İletişim için Oluşturduğu Fırsat ve Tehditler”, International Conference on New Media, 2010.(online)
• Zeynep Arın Dörtok & Mete Çamdereli, “İç İletişimin Kurumsal İtibar ile Etkileşimine Yönetsel Bakış” (2003).