Solace Insurance Deems Technology “Hot Commodity” Among Insurance Agencies in New Year

Clearwater, FL (PRWEB) February 17, 2014

Many insurance agencies are beginning to offer their customers services that allow ease of access to the functions provided by the companies. Consumers are now able to make online payments, access payment estimators, retrieve quotes and file claims through the use of modern technology—namely PCs and smartphones (1). Award-winning Tampa Bay-based insurance agency Solace Insurance says that adopting a modern business practice which thrives on technology is the key to remaining competitive in a growing industry, in addition to encouraging direct communication with clients—something Solace has been implementing since the company first opened its doors.

Reports have shown that insurance customers who use emerging technologies such as smartphone applications, online chat and email as complementary channels to interact with their insurance providers “are significantly more satisfied than [customers] using only their purchase channel to meet their service needs” (2). While early mobile applications developed by insurers were informational in nature, newer services are reaching the transactional side of business, signaling that insurers are beginning to see the benefits of an improved flow of communication with their customers and are capitalizing on the emerging opportunities in the technology field (3). However, the technological advances in this area are not yet utilized by many existing insurance companies. The need for insurers to embrace technology is a trend which Solace Insurance CEO, Bob Childress, attributes to consumers’ growing need for convenience.

“Technology has become a part of the everyday lives of most people—it adds convenience to the customer experience, and that’s a selling point that many businesses today are learning to capitalize on,” said Childress. “I believe that much of Solace’s success can be attributed to our use of technology, and this is something that should be standard within the industry.”

But private insurers may face resistance when looking to gain consumer and regulatory acceptance of making technology the core of the industry, per Childress. High-profile data breaches and leaks, such as that experienced by Target during Black Friday weekend, have made the public wary of potential threats to their privacy. For consumers seeking a technologically advanced insurance agency, Childress encourages first ensuring that the company is supported by security measures enacted to protect the consumer in the event of a data breach. As insurance is one industry which steadily evolves, Childress says the backbone of Solace’s company culture lies in remaining current with the trends in the industry.

“At Solace, we embrace new technology as the industry continually expands and lends itself to a technical marketplace,” said Childress. “Offering technology advances helps us to provide our customers with the most up-to-date and innovative methods of securing the best insurance programs for their personal or business needs.”

Solace’s technology applications allow customers to access their accounts 24/7, meaning that they’re able to make quick and easy payments, amend their policies, retrieve quotes, update their personal details, and file claims at any time (4).

Solace Insurance is an award-winning, independently-owned, full-service agency based in Tampa Bay with over $1 billion in property insured. Childress believes that the speed and efficiency provided by the use of modern technology allows Solace to reach a larger demographic of customers, giving them more accuracy and delivering to them what is actually available in the marketplace.

For more information about Solace Insurance and its services, visit http://www.restinsured.com.

About Solace Insurance:

As an independently-owned, full-service agency based in Largo, Florida, Solace Insurance has provided quality insurance products to customers for over 30 years. Solace is a licensed insurance agency with over $1 billion in property insured, and has been recognized by many as a top-performing agency. This status is what allows Solace to offer its customers the most competitive and economical programs available, all while providing expert advice and quality service. From standard auto policies to the more complex multi-tiered insurance programs, Solace has the depth of resources to find just the right policy for each individual and company. For more information, visit Solace online at http://www.restinsured.com.

1.Overland, D.,”2014 Preview: What’s in Store for Health Insurers”. http://www.fiercehealthpayer.com/story/2014-preview-whats-store-health-insurance-industry/2014-01-07#ixzz2q1l8sM2S. January 7, 2014. Web. Jan. 10, 2014.

2.Cattchio, C.,”Insurance smartphone apps, email, and online chat lead to higher customer satisfaction.” http://www.answerfinancial.com/insurance-center/insurance-smartphone-apps-email-online-chat-lead-to-higher-customer-satisfaction. July 22, 2011. Web. Jan. 10, 2014.

3.“Technology Innovation to Set the Pace for Insurance Industry Growth in 2014.” PR Newswire (USA) 9 Jan. 2014. NewsBank. Web. 10 Jan. 2014.

4.Brown, J., “How I Use Automation to Make the Insurance Process More Efficient.” http://wgno.com/2014/01/06/making-the-perfect-man-4/#axzz2r316xGky. Jan. 7, 2014. Web. Jan. 21, 2014.

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