Though the insurance industry is not really known for being on top of new technologies, we still have seen a surge in the use of the latest technological solutions in recent years. One of these changes is BYOD (Bring Your Own Device) management.
This change transforms customer interactions and productivity by making the work environment more personalized and efficient. BYOD is a $114 billion[1] industry and is adopted by 74%[2] of organizations.
In BYOD management, employees can use their devices, like tablets, mobile phones, or laptops, for work purposes. This trend gained popularity due to its positive outcomes in the work environment. It gives flexibility and familiarity with the workplace. Insurance firms benefit from low hardware and software costs and personalized customer interactions.
Challenges of BYOD Environments in Insurance
While allowing employee devices for work offers many benefits, it also brings some challenges.
Security Risks
One of the main challenges in implementing BYOD is the security of sensitive customer data. Personal devices are more vulnerable to theft, hacking, and malware. Employees might not take strict security measures against beaches, putting the data in danger.
In the insurance industry, where client confidentiality is fundamental to any policy, enforcing security policies such as password encryption and updating the software regularly can mitigate the risk of data theft when the device is lost or stolen.
Compliance And Regulatory Issues
BYOD complicates compliance regulations, as personal devices can be difficult to monitor and control. Insurers should ensure that all devices comply with relevant regulations, such as the General Data Protection Regulation (GDPR) or the Health Insurance Portability and Accountability Act (HIPAA).
Balancing Privacy and Control
BYOD blurs the line between personal and professional use of tools and devices. Employees expect certain privacy for their personal data and activities, while firms want to control business-related information and security. Striking the right balance between privacy and control is challenging.
Transformation of Customer Interactions in Insurance with BYOD Management
Enter BYOD management via an MDM or UEM solution, and organizations can respond strongly to the above-mentioned challenges.
When integrated with insurance claims analytics software, BYOD can be more productive for customers and employees. Insurance solutions include integrating all the involved tools and stakeholders into one software, giving a holistic workflow view.
Here are some of the major ways in which BYOD management in insurance is transforming customer interactions.
Personalized Customer Service
The insurance industry has to deal with customers efficiently as it directly involves their money. Customers want insurers to be as specific and personalized as possible when they file claims. BYOD enables insurers to satisfy customers by giving them the required tools and info on their devices.
For example, an agent can fetch a claimant’s details and history while on the go. Hence, they give them a personalized experience, increasing brand loyalty and satisfaction.
Faster Interactions
One of its transformation effects is real-time interaction with clients. Insurance agents can quickly retrieve details through email, docs on the phone, or any cloud system. This would allow honest real-time communication, essential in scenarios like claim handling, where instant updates are required.
Reducing the time to resolve queries and issues makes the process more efficient. Customers don’t have to wait for extended business hours to get some information.
Access to Data Analytics
With BYOD, insurers have access to insurance analytics software to gather data and analytical reports. They can quickly identify patterns and provide more accurate suggestions or recommendations.
They can recommend the best insurance product for the customer, which aligns perfectly with the client’s needs and pain points.
Enhanced Productivity
Insurers have to shift from fieldwork to office work, making multitasking a challenge. Personal devices enable them to be online and responsive even on rainy days. The data can be updated in claimants, case processes, appointments, schedules, and statuses. This not only improves productivity for insurance employees but also ensures claimants that they are being in touch.
Containerization in BYOD
Containerization in BYOD management allows your devices to be used for individual and work-related activities while keeping everything separate and secure.
You might have seen the option of a second space in Android mobile devices, from where you can create another profile on the same device. It keeps the apps, settings, data, and libraries separate from personal profiles.
Deploying containerization with MDM (mobile device management) gives many customization options and control over employees’ personal devices, but only for work profiles.
Benefits of BYOD Containerization
- Encryption: Containers use advanced encryption to protect the data from malware and theft. You can encrypt what can be copied or shared outside the work profile, allow what can be captured or recorded, control network connections, etc.
- Data Wipe: Organisations can remotely delete corporate data from lost or stolen devices. This removes the insecurity of data leaks after employees leave the organization.
Personal devices aren’t aligned well with anti-malware security measures. Cybercriminals can breach the data, leveraging such weak links. Organizations can have antivirus applications that detect such unusual activity on the device and take preferable measures.
- Managed Play Store: Managed Google Play is the marketplace for Android Enterprise users that allows admins to control installed applications. They can manage and approve the selected applications at the store, which is accessible only to permitted users.
Such applications can’t be shared or used outside the approved work environment. This option also allows employees to make bulk purchases of premium content.
- Access and Permissions: IT admins can configure the settings of specific applications before and after installation. You can also manage applications’ permissions and keep them separate from accessing personal data. This way, trust from both sides would form a healthy employee-employer relationship.
Defining a Robust BYOD Policy
Cover all the sensitive aspects of your BYOD policy. This includes identifying sensitive data and clearing guidelines about it. Make the access settings selective for those with print or recording options.
Define rules for strong and unpredictable passwords. Also, a policy should be made about updating passwords repeatedly. Make a blocklisting policy to block traffic from third-party resources.
Have an agreement on employees’ retirement or exit time. Take appropriate measures to ensure data is safe and secure, even if the device is lost or stolen.
Future of Customer Interactions in Insurance
As BYOD continues to gain traction, the insurance industry will continue to welcome more innovations within the market. Integrating AI and machine learning in data analytics can further personalize the customer experience. Moreover, wearable technology and IoT devices will engage the customers to the next level, giving them real-time progress in their cases.
BYOD management for customer interactions is beyond just a trend; it has transformed the insurance industry by making it more personalized. BYOD is strengthening the customer-insurer relationship by giving customers real-time and data-driven advice. While there are some challenges in this, the industry is determined to tackle the challenge by making policies for it.
BYOD management has changed customer interactions in the insurance industry by providing a personalized and accessible experience. With the ability to access customer information, history, records, and policy details on their personal devices, insurance agents can respond quickly and effectively to customer inquiries and claims.
As the industry continues to adopt BYOD, it’s essential to address challenges like security risks, compliance, and balancing privacy and control. BYOD management is poised to drive business success and shape the industry’s future by taking robust measures and clear policies.
Choose Seamless BYOD Management with Scalefusion
Looking for effective and seamless BYOD management for your insurance business? It’s time to get going with Scalefusion, a powerful device and endpoint management solution that lets you establish BYOD policies to manage and secure employee-owned devices with ease.
Speak to our experts and get a demo of Scalefusion in action. Start a 14-day free trial by signing up.
References:
1. Mordor Intelligence
2. ZDNET
