Why Performance Is the Hottest Insurance Tech Trend - NETSCOUT

Digitalization is changing how customers interact with insurance providers. Savvy insurers have noticed and are investing in “trending” technologies—taking cues from their own customers, who already use multichannel, multidevice apps to monitor their homes, kids, cars, and health. But insurance is and always has been a way of managing risks. Risk isn’t measured only by the policies customers buy from you. It’s measured by the availability of the services they use to contact you. 

What insurance customers want, however it’s delivered, is consistent and immediate access to an agent and/or adjuster whenever they need one. Every time. When those services degrade or become unavailable, insurers risk losing current and potential customers. Which is why performance management across networks and applications is still the “hottest” insurance tech trend. 

Evolving Insurance Tech Stacks and Service Offerings

Technology will drive and implement change within the insurance industry. It’s forecast every year all over the internet: enterprise-level insurers are expected to phase out legacy systems and accelerate adoption of tech such as Internet of Things (IoT) and telematics, AI and AI-powered chatbots (possibly including ChatGPT), predictive insurance analytics tools, and more. 

As new technologies are adopted, they increase the number of channels through which insurers interact with customers and the complexity of underlying IT infrastructures. Have you ever tried to check the status of an insurance claim? It often involves several contact center calls, many email exchanges, a few text messages, and so on. In an ideal world, customers will never be affected by disruptions on the back end. But insurance IT teams are already managing always-on responsiveness for a myriad of network, application, and unified communications and collaboration (UC&C) tools (voice, video, messaging) across data centers and next-generation platforms (cloud, virtual). What can happen if blind spots emerge because digitalization “sprawl” has made the environment too complex? 

Poor Performance Erodes Insurance Customers’ Satisfaction

Modern IT environments contain a wide array of critical services operating via a hybrid mix of on-premises and cloud-based operations. Network administrators are expected to maintain performance of service areas to protect customer satisfaction. Consumers, meanwhile, were conditioned by the availability of technology during the COVID-19 pandemic to expect immediate gratification and are intolerant of technology that doesn’t work consistently. Customers might associate latencies, disconnections, jitter, and other disruptions with the quality of their insurer and switch to a competitor.

Many IT departments spend the bulk of their time fixing the UC&C experiences of contact center workers because of their proximity to customers. Few things are more frustrating for a customer than poor call quality that makes it difficult to communicate with a representative or, worse when the call is dropped entirely. Preventing this can be a daunting, high-stakes game if IT lacks the necessary resources to accurately track down the root cause of disruptions and quickly resolve them. 

Performance Management Is Like “Insurance” for Insurers

NETSCOUT’s nGenius Enterprise Performance Management can help you quickly identify the root causes of performance degradations and solve issues affecting digital services across technology and organizational boundaries. We provide comprehensive visibility into insurance application performance to assure customer experience in digital, voice, call center, or agency platforms. And our solutions are built to scale with you.

Remember—insurance is and always has been a way of managing risks. When introducing new digital services and capitalizing on trends, insurers should weigh the benefits to customers of using a performance management solution against the potential risks of not having one in place.

To learn more about nGenius Enterprise Performance Management or to request a demo, reach out to us.