Insurance companies must send lots of communications to subscribers. Those documents include personal and confidential information, which means strict adherence to regulations. Because of the regulatory environment, many insurance organizations lean toward producing these communications in-house, thinking they’re better protected and more in control. Frequently, that’s a misconception. Using an expert transactional print and mail provider can better facilitate insurance print and mail communications and insulate insurance companies from many of the risks associated with these communications.
Outsourcing to such a company brings many advantages and benefits, providing you with control, visibility, and transparency at every step.
Insurance Carriers Must Create a High Volume of Communications at a High Cost
While some consumers prefer to receive all communication in digital format, many still want physical copies of invoices, ID cards, claims, and policy or coverage communications. Even with this high volume, running your own in-plant is costly.
Expenses include materials, equipment, labor, space costs, postage, and more. In addition, there are a number of compliance measures you must put in place to ensure integrity. For example, you need advanced print and inserter technology to confirm that every person receives the correct information.
With such a variety of communications and the need for processes to be seamless, it’s hard for insurance companies to stay on top of everything. After all, it’s not your core competency. Expenses can add up quickly. By outsourcing, you will see that number go down.
Dynamic Printing Helps Your Personalize Communications
Another aspect of insurance print and mail is using personalization in communications. To do that, you need a system that enables dynamic printing. That means that printers receive data for each individual correspondence, and you can customize the messaging.
This can be very impactful for upselling and cross-selling your portfolio of insurance solutions. Additionally, you can also increase engagement. For example, if your company has programs for subscribers to participate in, you can use invoices or policy communications to promote this to encourage them to sign up. You could also use dynamic printing to drive customers to online payment portals.