Old Mutual now communicate directly with their clients

One of the direct short-term insurance industry’s one up on the old brokered method is the open line of communication between insured and insurance company. To compete with direct insurers, Old Mutual has not only launched the iWYZE product, but now informs its brokered clients of the status of their claims via SMS. The system updates clients as the requests are being processed in an effort to improve the company’s communication with insureds.

Once a claim is made to Old Mutual, an SMS is sent to the insured and an email to his or her broker at every key step in the process. This eliminates the need for brokers’ clients to contact them for updates and brokers to contact Old Mutual. The SMSes are simple and to the point, and do not attempt to replace the broker in the line of communication. In fact, the automated system preserves the relationship between the broker and the client by informing them simultaneously of updates.

According to the insurer, 95% of their clients are brokered, making the need of communication all the more important between them and their brokers. In the beginning of the year, at the broker roadshows, brokers asked for improved communication. This SMS notification system is the first phase. A second phase will cater for more detailed information being sent to clients and their representatives.

For more information on Old Mutual visit their site.