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The Printed Path: Trends in Insurance Industry Communications

March 25, 2024

Effective communication is vital in the insurance industry, building trust, nurturing customer relationships, and driving retention rates. Evolving trends in print communications within the insurance sector highlight their role in delivering clarity and accessibility amidst complex policies and processes. From policy documents to legal notices, print materials offer tangible trustworthiness and reach ‘digitally disengaged’ audiences. With legislation mandating mail communication in many states, print remains a cornerstone in insurance communication, ensuring crucial information reaches policyholders. This blog post explores the pivotal trends that are shaping the future of communication in the insurance industry. 

The Enduring Impact of Physical Documents

In the digital era, it might be surprising to learn that traditional print and mail boast a 94% open rate, far surpassing email’s 20%. This high engagement is compounded by the inherent trust associated with printed materials, particularly in the insurance sector, where they’re perceived as more official. Rather than being outdated, print and mail harmoniously complement their digital counterparts, catering to customers’ varied preferences. Integrating QR codes and personalized URLs further bridges the gap between print and digital, seamlessly directing customers to online portals. Even in our online world, 27% of insured individuals still opt for mail delivery of statements, signifying the medium’s lasting relevance. Insurers must appreciate and use print and digital channels to effectively engage their diverse clientele.

Personalization and Precision in Print 

Customization sits at the competitive edge of today’s market. Insurers use data analytics to personalize print communications, enhancing customer engagement through audience segmentation and tailored messaging matched to specific demographics, and policy details.  Variable Data Printing (VDP) allows for mass customization, transforming texts, graphics, and images to resonate with the individual reader. Here are a few examples of how personalization can look in different scenarios: 

  • Geographic:  Tailor content to address location-specific risks (e.g., hurricane information for coastal areas, earthquake preparedness for fault line regions).
  • Behavioral: Incorporate reminders for annual health check-ups or personalized wellness tips for health insurance customers based on their previous medical claims.
  • Lifecycle: Try customizing messaging depending on the stage of the policyholder's lifecycle (e.g., welcome information for new policyholders, loyalty rewards for long-term customers).
  • Additional coverage offers: Provide personalized recommendations for additional coverage based on the policyholder's current plan.

Bridging Print and Digital Worlds 

Integration of multi-channel communications reinvents how customers interact with insurers. QR codes and personalized URLs bridge the gap between print and digital, nudging customers toward online platforms/portals for quick actions like payments or policy adjustments. This integrated approach boosts convenience and elevates the overall user experience, meeting customers where they are. 

Enhancing Efficiency Through Print Automation 

The marriage of print automation with insurance communications yields a powerful combination of efficiency, cost savings, and consistent branding. Automated systems rapidly produce essential documents like policy agreements and claims forms, reducing manual labor and maintaining brand consistency. This efficiency allows insurers to streamline operations, manage costs, and preserve brand identity.

Complying with Regulations Through Print

In the insurance sector, state regulations can necessitate the issuance of physical documents for compliance and consumer protection, including mandatory delivery of policy copies, legal notices, and other critical disclosures in print form to ensure compliance with mandatory paper copy legislation, consumer protection laws, and E-SIGN Act requirements. While certain laws demand that these essential documents are provided in physical form unless a customer opts for electronic delivery, other rules protect consumers with limited digital access by ensuring they receive printed copies. Legalities around the delivery of termination notices and changes in policy terms are often strict, specifying printed mail as the communication channel. Also, while some customers must consent to electronic communications, there are accessibility concerns that necessitate providing physical documents to those who are not tech-savvy or have disabilities. For insurance providers, staying on top of these evolving regulations is fundamental to avoid legal ramifications and promote customer trust and satisfaction through transparent and accessible information sharing.

Innovations in Postal Solutions

Innovations like USPS Informed Delivery allow recipients to view grayscale images of the exterior of incoming mail via email before it arrives. For insurers, this can enhance customer engagement by linking physical mail to digital experiences. Intelligent Mail barcode (IMb) is another USPS service utilized by insurers. The IMb is a 65-barcode for mail pieces that provides automatic tracking and sorting, improving deliverability and offering visibility into the mail stream.

These services advance the timeliness and transparency of communications, strengthening trust in the insurer-policyholder relationship. 

The Power of Print and Mail: A Strategic Asset

Print and mail are more than just a communication channel; they are a strategic asset in the insurance industry. Their ability to support diverse customer preferences, maintain high engagement rates, and meet regulatory demands makes them indispensable. By combining personalization, multi-channel integration, and print automation, insurers strengthen customer connections, enhance operational effectiveness, and demonstrate a commitment to service excellence.  

Unlock a deeper understanding of policyholder preferences and behaviors with our extensive whitepaper, based on a nationwide survey conducted by KUBRA. Discover what truly matters to insureds when selecting their insurance provider, their preferred management channels for claims and payments, the sought-after features in an insurance mobile app, and how technological advancements are shaping billing and payment choices as well as overall satisfaction. Uncover the challenges insureds face and learn how you can address them to elevate their experience. Get your hands on this valuable resource now and take the first step in redefining customer satisfaction within your organization. 

We also invite you to discover how KUBRA iMail can revolutionize your print and mail processes, enhancing how you connect with your policyholders—learn more about our innovative solution tailored for insurance providers.

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