Kofax Mobile Capture
Insurance providers looking to build out their mobile offerings should examine the banking industry as a helpful model. Some banks that made an early investment in mobile technology gained the first-mover advantage and were recognized as innovators. Financial instituions use devices such as mobile deposit to engage customers and build loyalty. Mobile deposit technology uses the camera on a smartphone or tablet to deposit a paper check by taking a picture of it. This simple mobile service leveraged existing consumer behavior (taking a picture with a mobile device) and saved customers a visit to a branch. Similar to insurance professionals, bankers have relatively few customer interaction opportunities. One might think that decreasing the already limited face time would weaken customer loyalty, but banks saw exactly the opposite. They saw that mobile banking actually keeps customers and it is a service that customers are willing to switch banks in order to obtain. Mobile delivers content when it's most needed in a context that's most relevant, leading to additional sales and more loyal customers.