How to Make Life Insurance Better for Your Members
Consumers Want Simplicity & Easy Access – Is Your Credit Union Delivering?
Today’s financial environment is competitive and crowded. Members will go elsewhere if their credit union is not there for them every step of the way. A more convenient life insurance program is better for members and credit unions alike. Every industry is changing quickly in the digital age and simplifying life insurance will help credit unions stay ahead, create growth, attract new members and strengthen long-term relationships.
Provide today’s consumers with what they want, how they want it
Consumers are very different from generations before. They research their options online well before making a purchase decision and expect instant access to information wherever they are. They want the ability to purchase online and to manage their insurance policies on any device at any time. They expect every experience to be fast and simple. 64% of consumers say they’re willing to pay more for simpler experiences1 and 37% of consumers say it’s important for providers to have information easily accessible on mobile.2 If your credit union provides this “on-demand” experience it will show members you are keeping up with their evolving preferences.
Simplify to stay ahead
It’s not just a fast and easy experience consumers want. 83% say they want an easy-to-understand life insurance policy.2 The challenge is making sure consumers understand all that life insurance can do for them. Uninsured and underinsured members have a significant gap between their perception of life insurance and its realities. Using better communication and education can help bridge that gap, bringing your members an insured future and your credit union more business.
Download the E-Book to find out how keeping life insurance simple will help your credit union satisfy members and reap the benefits of member loyalty for years to come.
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