Free your Time and Growth Will Follow
Tue Oct 4 2022
Free your time and growth will follow
Taking time to review what can not only increase your productivity but your profitability makes good business sense.
In theory it could be key to making your business more efficient to help it grow. In practice, however, it can seem a daunting task in such a fast-paced world when ongoing client commitments and projects already dictate the ebb and flow of your day-to-day.
Does this sound familiar? Are you spending too much time working in your business but not enough time working on your business? If so, we can help you!
What’s taking up your time?
Many brokers claim to be time-poor, spending more hours than they’d like on administrative tasks. The manual entry of quotes, on the phone processing quotes or answering general enquiries. All of these tasks are necessary but are taking up valuable time without adding value to you or your customers. They all also divert resource away from investing time in the strategic side of being a successful broker.
Undoubtedly, there are numerous additional daily tasks on top of this which can shift focus further away from growing your business, from filing through to paperwork and background research. Now is the time to take the necessary steps to embrace new ways of working that will help improve overall efficiency, grow your business and ultimately increase customer satisfaction.
Why it’s necessary to free up your mundane time
As many consumers have embraced digital communications with open arms, they are wanting more added value from their brokers too. They want quick and convenient online purchasing and management of their insurance policies while still expecting additional value-added services. They do not want to lose that personal touch while benefiting from the ease and accessibility that digital solutions offer.
With this in mind, it is the right time to review current ways of working and plan for the future. Investing in digital, implementing applications that will have a positive consumer impact and free up more time will undoubtedly help to focus on what matters.
Customer expectations are shifting, and this change has definitely accelerated in the last couple of years. The landscape of the industry is changing too as we all move to more digital ways of working. This move to digital will ultimately help to save time and increase efficiency allowing you to spend more strategic time building your business.
Yet, it is fair to say, some brokers have been slower to plan, implement and move with the times from a digital perspective often because they worry about the impact it might have on the personal touch that creates their point of difference. But there is no need to be reluctant as the benefits are evident.
There is scope to add value without compromising on customer service at the same time as offering consumers the solutions they are seeking for a more seamless experience.
There is an array of opportunities to build and deliver a better service for your customers. The solutions available will make an immediate impact and free up more time in your working day, particularly from a digital point of view.
Connecting a customer self-serve portal will help to ensure all the customer’s details and policy documents are in one place and available to download. It offers the customer the convenience of being able to manage their policy online, whenever they want, wherever they are. At the same time, it gives you the opportunity to improve the user experience for your customers, whether that be online or over the phone.
Tools such as data enrichment services that can be integrated at the point of quote help to save time and offer an improved experience. They also provide a better assessment of risk and help to prevent fraud at the same time as creating a more rounded view of the customer.
Or you could create a new customer journey through automated workflows which will allow you to eliminate time-consuming and repetitive tasks.
Not all these tools need to be implemented at once, but it is crucial not to remain static. Implementing a new digital application can seem, at times, overwhelming as you move out of your comfort zone. It is okay to take things a step at a time and do what feels right for your business.
There are also small additions you can incorporate into your business as a starting point. These changes can help you kick start your journey to working smarter such as implementing an online chat bot function – they are available 24/7 to solve frequent, straight-forward customer queries. It’s important to take a measured approach and to consider what will work for your business now, however, it makes sense to consider the bigger picture too.
Go digital with Mobius
As an API-rich platform Mobius offers simple and easy connectivity quickly connecting and integrating you with a broad selection of partners. At the same time, it provides you with access to a wide range of enrichment information to help save time in quote completion, improve quote accuracy, reduce policy risk and improve claim outcomes. Mobius offers you access to functionality to keep your business moving, to save you time and ensure minimum downtime. It also offers the ability to easily link your existing applications, so you can grow your operations without the need to start all over again.
This, coupled with the scope to connect and leverage from a digital perspective, the simplicity of configuring automated workflows enables you to free up time while delivering an experience the customer wants.
To find out more go to www.opengi.co.uk/mobius-platform