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Why Insurance should take back control of the ‘funnel’ with a Lead Management Solution

While every organization manages their ‘sales funnel’ differently, they must all address the arduous task of handling leads competently. In the Insurance business, generating quality leads is proving to be a tough assignment for older agents, as their collective numbers dwindle down —  as more business is being transacted online, creating a complex web of lead data to consolidate, than ever before.

For an insurer or broker, unearthing excellent leads is only half the battle won — converting the semi-interested, prospective buyer to ‘loyal avengers’ of your brand is the true test. Without an adequate analysis of the lead data, insurance firms are more likely to let valuable customers slip through unnoticed. Infact, 80% of marketing leads are either lost or discarded because of poor lead management; while 80% of leads passed onto the sales agents are unqualified — according to research on lead management, surveyed among B2B organizations in 2019.

Documenting a prospect’s complete story of interactions & experiences with your organization, delivers timely insights into exactly how and when a prospect was converted from an ordinary ‘lead’ to a ‘customer’. Most of the sales follow-up process including managing leads, prospecting new business and dispatching service to existing clients — is time consuming and for the most part, manually done. On the other hand, outside competition via other brokers and organizations offering closely matched services and products are most likely to capitalize on the mistakes you have failed to identify early —  which brings us to — What is it about your business that will capture a prospect’s attention long enough to close a sale, build quality relationships, and encourage referrals? For an effort of this magnitude, the journey begins with a strong lead management framework.

The transition for qualified ‘leads’ as it evolves through the organization’s marketing and sales pipeline, eventually passes through several phases or ‘lead stages’.

Lead Management Accelerator Framework

Here’s why Insurance needs an Accelerated Solution

Lead Prioritization

  1. Clustering of leads based on assorted attributes —  profile, source, income, demographics etc.
  2. More targeted and focused approach on managing prospects.
  3. Helps improve the quality of leads to the caller/sales team.

Lead Allocation

  1. Profile analysis of callers to identify their strengths and allocate leads accordingly.
  2. Enhanced and optimized Lead Conversion thereby creating profitability.

Lead Disposition

  1. For time effectiveness quick, detailed & one-stop disposition.
  2. Seamless integration with insurance core platform allows quick access of quotes and payment service.
  3. Allow effective communication by means of various integrations like e-mail, SMS, dialers etc.  
  4. Various features like document repository, call scheduling, lead journey chart helps callers handle lead dispositions aptly.

The implementation of a strong framework makes a dedicated LMS solution for the insurance industry not only desirable, but strategically important for the industry.

From creating qualified opportunities and ultimately satisfied customers — Lead management is the backbone of a successful sales operation. The sales process should integrate with lead management seamlessly, which is why an automated LMS with customizable workflows harnessing Artificial Intelligence/Machine Learning is a complete solution. By automating the sales process we can ensure calls, demos, follow ups and meetings — even potential revenue — isn’t slipping through the sales pipeline undetected.

To know more about how Insurers can create workflow specific LMS solutions, get in touch with us — hello@mantralabsglobal.com


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The Essence of User-Centered Design: A Dive into Fundamental Principles

In a digital world where user experience reigns supreme, crafting designs that resonate has become a mission. Enter User-Centered Design (UCD), a philosophy placing users at the core of the creative process. In this exploration, we’ll delve into the fundamental principles of User-Centered Design and understand why they are the keystones of successful interfaces.

User-Centered Design

Introduction:

Imagine navigating a website seamlessly, effortlessly finding what you need. That experience is no accident but the result of intentional design. User-centered design (UCD) is the compass guiding designers toward creating interfaces that users not only navigate but embrace.

1. Empathy is Key:

  • Incorporate for a better approach: Start by stepping into the shoes of your users. What are their pain points? What delights them? By empathizing, designers gain insights that drive user-focused design decisions.

2. User Involvement Throughout the Design Process:

  • Real-life example or statistic: Apple’s iterative design process involves user testing at every stage. This constant involvement ensures that their products align precisely with user needs.

3. Holistic Approach to Design:

  • Visual content: Picture your design not as isolated screens but as a cohesive journey. Use diagrams to illustrate how each component fits into the larger user experience ecosystem.

4. Usability is Non-Negotiable:

  • Case studies or examples: Consider the success of Google’s homepage. Its simplicity and efficiency showcase the power of a user-centered approach, emphasizing usability.

5. Accessibility for All:

  • End with a clear call-to-action: Make your designs accessible. It’s not just a legal obligation; it’s an ethical imperative. Ensure your interfaces are usable by everyone, regardless of ability.

6. Consistency Across the Interface:

  • Formatting for readability: Consistency is not just a design principle; it’s a readability strategy. Use bullet points for clarity and short paragraphs for easy consumption.

7. Flexibility and Customization:

  • Inclusive language: Users are diverse, so should your designs be. Incorporate flexibility and customization options. This ensures your interface caters to a broad range of preferences.

Why User-Centered Design Matters:

A. Enhanced User Satisfaction:

  • Feedback mechanism: Prioritize user satisfaction. A satisfied user is an engaged user. Welcome reader input and questions to keep the conversation alive.

B. Reduced Learning Curve:

  • Clear call-to-action: Minimize frustration. Make your interfaces intuitive, reducing the learning curve. Invite users to explore with a clear call-to-action.

C. Increased Engagement and Retention:

  • Visual content: Engaging interfaces retain users. Visualize engagement with appealing images or infographics. Showcase how user-centered designs reduce bounce rates.

D. Effective Problem Solving:

  • Tangible proof: Case studies offer tangible proof. Explore how UCD’s iterative process allows for effective problem-solving. Real-world examples bring these concepts to life.

Conclusion:

In the grand tapestry of digital design, User-Centered Design is the thread weaving functionality, aesthetics, and user satisfaction into a seamless whole. By embracing these principles, designers transform mere interfaces into user-centric experiences. So, as you embark on your design journey, remember: User-centered design isn’t just a philosophy; it’s a commitment to excellence. Design with the user in mind, and success will follow.

About the Author: Mehul Chauhan is a seasoned Senior UI/UX Designer at Mantra Labs. With a deep understanding of design principles and a keen eye for detail, he brings creativity and innovation to every project he touches. When he’s not busy perfecting digital interfaces, you can find him seeking inspiration in art galleries or exploring the latest design trends across various industries.

Further Reading: Unveiling the Art of Emotional Design

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