Multi-year digital investment strategy revealed by Hanover to address the changing requirements and preferences of its partners and their customers
Image: Hanover discloses its multi-year digital investment strategy. Photo: courtesy of rawpixel/Pixabay.
The Hanover Insurance Group unveiled plans to invest in new digital tools to enhance its independent agent and customer experience.
The US insurance holding company said that the multi-year digital investments are aimed at addressing the varying requirements and preferences of its partners and their customers.
One of the digital tools in which the company will invest is TAP Sales, a new quote and issue platform. Likewise, the insurance group will invest in boosting self-service capabilities for customers via My Hanover Policy and Hanover mobile app, an online tool that offers policy details, claims reporting, and bill payment options.
Hanover also plans to bring in new capabilities for e-signature, e-documents of policy details for agents, and e-delivery of policy documents and bills. The company will invest in robotics, create live chat capabilities for agents, and also develop certain claims and risk solutions.
To enhance the claims experience, it will provide digital solutions for self-service, digital delivery of claims payments, and expand the use of drone technology.
For its independent agents, Hanover, among various initiatives, will launch Insurago, a customer-facing digital insurance platform. The new digital platform is expected to help independent agents acquire new business.
Hanover CEO comments on the multi-year digital investment strategy
Hanover president and CEO John Roche said: “Our industry faces an innovation imperative, with advancements in web, mobile, voice and imaging technology creating new customer expectations and redefining the way our agent partners and we serve our customers.
“As an independent agency company, we made a commitment in 2017 to drive innovation across our business in a very determined way. Our goal was to focus on evolving customer segments and leverage data, analytics and emerging technology to create insurance solutions that meet our partners’ and their customers’ needs, improve the agency and customer experience, and help our partners grow.”
In July this year, the insurance holding company forged a partnership with Loveland Innovations to deploy the latter’s drone and technology capabilities to improve its claims service. By using Loveland Innovations’ inspection platform of drones and advanced machine learning tools, the insurance group is expected to enhance claim data quality and also boost the speed of service.