Hardworking Insurance Carriers and Agents Demand Mobile Acce
Source: FirstBest Systems
The commercial insurance sector is poised to make extensive use of mobile technologies while away from the office, according to a new survey about mobile technology conducted by FirstBest(R) Systems, Inc., which provides desktop and mobile insurance software solutions for global insurance carriers and MGUs. The study found that most agent and carrier respondents already use -- or want -- a tablet device, that almost everyone uses at least one smartphone, and that there is uniform desire to access information, conduct time-sensitive tasks and provide better service from anywhere, at any time.
The Mobile Technology for Insurance Survey was conducted by FirstBest at the Market Scout Entrepreneurial Insurance Symposium, held in mid-September 2011 in Dallas, TX. Survey responses were grouped into two categories: carriers/MGUs and agencies/brokers. The carrier/MGU group included 67 respondents, representing approximately 50 organizations (two-thirds representing insurance carriers). The agency/broker group included 46 respondents from 45 organizations.
Carriers Use and Want Tablets for Work
Mobile device use is pervasive among carriers and MGUs, but laptops have lost appeal in the field. Other highlights from the sample of 67 respondents include:
-- 49% presently use a tablet, with the majority using an Apple iPad or iPad2
-- Close to 100% use a smartphone; 17% of those use more than one smartphone (45% use a Blackberry, 46% use an iPhone and 20% use an Android smartphone)
-- 46% would prefer a tablet for business use when away from their desks; 34% a smartphone, and only 23% a laptop computer
-- 85% say they would benefit from mobile access; of those, 75% feel mobile devices would help provide faster responses and better service to customers and 67% would like to prevent work buildup while out of the office and resolve issues immediately
The survey also found that more than half of carriers want to stay connected while on vacation. When asked "When would you be most likely to use a mobile device to do these tasks, while away from your desk?," following vacations, respondents noted while traveling for business (80%) and while at home (64%). When asked "What kinds of tasks would you like to be able to do a mobile device?," the top responses were: look up customer information from anywhere (83%), check an application status (62%) and show information to a client (58%). Most would like to be able to refer the application to someone else or review a referral, and 46% would like to bind a policy from their tablet or smartphone.
Agents Want to Stay Connected -- Even on Vacation
Nearly 50 agents and brokers completed the FirstBest Mobile Technology survey. Findings include:
-- 52% use a tablet device, with the vast majority using an Apple iPad or iPad2
-- 100% use a smartphone; of those, 4% use more than one (50% iPhone, 28% Blackberry 15% Android-based)
-- 42% would prefer a tablet as their one mobile device for business; 24% a smartphone, 18% a laptop
-- 80% say they would benefit from mobile access; of those, 95% feel mobile devices would help provide faster responses; 81% would resolve issues immediately and provide better service to their customers; 65% would obtain faster responses from their company and/or carrier
When asked "When would you be most likely to use a mobile device to do these tasks, while away from your desk?," 87% of agents noted while traveling for business, 61% while at home or visiting a client - and 74% (more than the 53% of carriers) would use a mobile device while on vacation. As with carriers, when asked "What kinds of tasks would you like to be able to do a mobile device?," data access, such as looking up customer information (80%) and sharing information with clients (66%) were popular, but 66% would also like to be able to start a new insurance application, and 57% would reserve the market/perform clearance.
"This study shows that the industry wants to be able to conduct business on the go, in order to provide exceptional service and resolve issues without delay," commented John Belizaire, co-founder and CEO of FirstBest Systems, Inc. "With nearly 100% smartphone penetration and 50% tablet penetration in the survey pool, it's up to insurance companies to provide their underwriters, field service teams and agents with applications that empower them be more productive and win more business. It's clear that mobile represents a real opportunity for carriers -- and that the time for action is now."
Press and analysts interested in the complete top-line survey data should contact Liza Colburn at lcolburn@firstbest.com.
FirstBest Systems, Inc.
FirstBest(R) Systems delivers insurance software solutions that help global insurance companies improve underwriting profitability, scale their business and achieve high service levels with agents. The proven FirstBest Front Office Suite includes modular underwriting management system, agent portal, and agency upload applications, with capabilities for mobile users. Companies such as XL Group plc, a global insurance and reinsurance company, ICW Group Insurance Companies, a multi-line super regional insurer, Pacific Compensation Insurance Company, a specialty writer of workers' compensation insurance, and Preferred Concepts, LLC., a national managing general underwriter, rely on FirstBest solutions to improve underwriting efficiencies and quality, institutionalize knowledge and best practices, and empower everyone in the process to quote, collaborate, issue, and bind business on a single real-time platform from anywhere. For more information, call (888) 863-6095.
FirstBest is a registered trademark of FirstBest Systems, Inc. FirstBest UMS, FirstBest Underwriting Management System, FirstBest Agent, FirstBest AppReader, and FirstBest Front-Office Suite are trademarks of FirstBest Systems, Inc. All other trademarks are property of their respective owners.
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