5 reasons pro video consulting: Competitive Edge

Jeremy Kehrli
10.05.23
23:58

Competitive advantage in the insurance industry through systematic optimization of video consulting skills

Increase the trust of your customers and improve your closing rates in digital sales by professionalizing your video consulting skills. Find out what it takes in this article.

The coronavirus pandemic has turned the business world upside down. Many companies were forced to redesign their business models and processes and use digital channels. Insurance sales, which traditionally relied on physical consultations, were particularly affected. Suddenly, however, it was no longer possible to visit customers at home or in the office. This required innovative solutions: One of these was video consulting, which quickly proved successful. In fact, even after the pandemic, many companies are relying on this medium to offer the convenience of digital advice that customers have already come to appreciate. But how can companies ensure that their video consultations are professional and trustworthy and ultimately lead to a successful contract?

Find out in this article how a professional video consultation can help insurance companies to increase the trust of their customers and improve their closing rates. We will also show you how you can reach new target groups and increase your digital footprint by improving your video consulting skills.

Before we look at how to improve video consultations, it is important to understand the benefits of this medium. By using video consultations, companies can reach their customers efficiently and cost-effectively without them having to be physically present, even in remote regions or other countries – without high travel costs. Consultants also have the flexibility to schedule appointments outside of normal business hours to meet the needs of their clients. However, it is important that companies ensure that the professionalism of advice is also guaranteed from the home office.

Another advantage of video consulting is the ability to present products and services in real time. By using visual elements such as images, diagrams and videos, companies can present their offers in an appealing and understandable way and integrate any customer input into a dynamic presentation in real time. Customers have the opportunity to ask questions and give feedback, which helps companies to tailor their offers to the needs of their customers.

The integration and optimization of video consulting tools and skills can give companies, and insurance companies in particular, a significant competitive advantage in sales. Video consultations enable insurance companies to expand their reach, work more efficiently and build better customer relationships. They can also respond more effectively to customer needs and use the latest technologies. If you’re an insurance company using video advice, make sure you have the technology and processes in place to provide an excellent customer experience and professional advice.

How can you improve video consulting and increase customer trust?

Preparation is everything when it comes to creating a personal connection

Careful preparation is essential for a successful video consultation. Technical requirements must be checked and all important documents carefully prepared. It is important to avoid all disruptive factors so as not to further impair the customer’s attention span, which has already been reduced by the video consultation. As the consultant does not have to travel, the customer often does not feel guilty about saving time. Tailor-made advice that is specifically geared to the customer’s wishes and questions is therefore important in order to establish a personal connection with the customer and create trust. Otherwise, there is a risk that the customer will quickly abandon the consultation.

Benefit from the advantages of the digital consulting platform

Use visual aids to make complex topics in video consultations easier to understand and more interesting. Images, diagrams and videos can help to present products and services in an appealing way, as long as the customer is not overwhelmed and the presentation is well structured. Customers now expect a high standard, so an optimal mix of personal advice and new technologies is the key to a competitive advantage. Regular training courses help us to remain approachable and competent.

Digital consultations have changed the way we contact customers. Video consultations require a different consulting strategy in order to build trust and demonstrate professionalism. Short, easily plannable consultations without travel time offer the opportunity to invite various specialists to the call for individual topics or questions. Screen sharing and the quick exchange of reference readings via chat are further useful tools. However, it is also important to give the customer more time to make decisions and to plan the consultations in a sequence of 2-3 calls instead of trying to close the deal at the first appointment, as is often the case in physical consultations.

A high level of expertise on the part of the consultant is essential in video consultations. The consultant should have sufficient knowledge and resources to answer all of the customer’s questions. As the customer is sitting at their PC or laptop during the consultation, they can look everything up in real time and consult the company’s website. Although this option is also available in a physical consultation, it is used less frequently. To be successful in digital consulting, the consultant must not only be technically competent, but also be able to convey the most important information to the customer and provide them with further resources if required.

Ensuring data security and privacy

Data security is crucial for successful video consultations in the insurance industry. During the consultation, customers disclose confidential information such as personal data, financial and health information. Customers expect their personal data to be secure. Data breaches or data loss due to insecure transmission or storage can lead to a loss of trust and legal consequences.

In video consulting, compliance with data protection laws is essential in order to minimize data protection violations. This includes using secure technologies and working with trusted providers to reduce the risk of cyberattacks or data breaches.

Most companies have implemented appropriate information security management systems, but most errors occur at the consulting level. Consultants often communicate via insecure channels instead of using the tools provided correctly. Companies must therefore ensure that their employees are trained and follow clear guidelines to minimize the risk of data breaches. Careful preparation and a clear structure during the video call can help to gain and maintain the customer’s trust.

Technical equipment and a professional atmosphere

To carry out a successful video consultation, companies need to ensure that they have a reliable internet connection, a high-quality camera and a good microphone. The software used should also be reliable and user-friendly. The room in which the consultation takes place should be well lit and offer a pleasant environment.

The consultant should also make a professional impression, wear appropriate clothing and leave a positive impression on the customer. Clear guidelines for a company with “do’s and don’ts” help to avoid mistakes.

Conclusion

Optimized video consulting in the insurance industry is an important step towards standing out from the competition in the long term and meeting the needs of customers. It can also help to attract new customers. The sales offering and the corresponding marketing strategies must be tailored to the new “post-corona” needs.

However, in order to generate new contracts through video consultations, consultants must be trained accordingly and adapt their consulting strategy. Current resources and technologies should be used professionally to ensure high-quality video consulting. In addition, excellent preparation and customized advice are important in order to establish a personal bond and a relationship of trust. Data security and customer privacy must not be neglected under any circumstances.

In addition to physical advice, which remains important, there is a lot of potential in video and hybrid advice, both to improve profitability and to prepare for the increasingly digital future of sales. Having your own strategy is essential in order to be profitable. As in conventional sales, the video consulting process must be continuously monitored and optimized to ensure that it continues to meet the ever-changing needs of customers.

If you want to know where you stand and how you can further optimize your video consulting skills with just a small investment, register for a non-binding preliminary discussion for a quick assessment by PRAGMATICA.

Our consulting firm PRAGMATICA has been supporting clients from the financial services industry in their digital transformation for over 20 years. We are experts in the implementation of effective video consultations, self-services and digital contract processing as well as onboarding with real added value. With our hands-on approach and a long track record of success, we have established ourselves as a Swiss consulting firm and can guarantee targeted personal and digital sales interaction with seamless processes.

Our experience from numerous customer projects proves this: An investment in video consulting and the associated processes pays off. Do you also want to maximize your success? We support you in improving your video consulting skills and show you the best place to start.