A host of smart insurance industry executives are moving their organizations into new territory, forging a whole new way of doing business. They’re taking hold of some big trends sweeping across the entire business and insurance industry landscape: big data, mobile, and the cloud.  

It’s a radically different business model and is especially suited to insurers who are genuinely customer-focused. It uses new technology to improve and coordinate sales and service. It delivers more insight into customers and business partners. It has the potential to grow the business. Most important, it helps build relationships.

These firms are moving beyond the old days of disparate and aging legacy systems, when data was fragmented and hard to find—and even more difficult to understand and act on.

In the cloud, a silver lining

Big data, mobile, and cloud are delivering big gains to both insurers and consumers. Insurance firms can bring multiple data streams—policies, billing, claims, appraisals—to their customers through  single, easy-to-use portals.

From any device, customers can check claims status, change profile information, pay a bill, even change their coverage. Insurance companies can learn more about what their customers need, and directly engage them via instant messaging modules embedded into portals.

Beyond routine administrative functions, mobile apps allow someone involved in an accident to make photos and upload them to the insurer. And homeowners can create a photographic log of belongings and upload them to attach to their profile.

Mobile access, apps and a whole suite of self-service tools, makes customer service more efficient and potentially less costly in the long run.

This new business model is helping leading edge insurance companies develop new skill sets, new products and services and new networks of partners.

The ultimate reward is a smarter, better, closer relationship to customers. 

Read more about how one company leveraged Salesforce1 Communities below:

Click here to learn more about Salesforce Communities, or download our free e-book below.