This type of product has implications for the insurance industry that can’t be ignored. However, consumers want products and services that are convenient, quick and painless. They want the products quickly; therefore, Quicken Assist does just that. quicken bill pay login
With a 40% turnover yearly due to customer dissatisfaction, the insurance industry must look for ideal opportunities to embrace innovation and change the way traditional services operate. This can be done by taking concepts and inspiration from services such as Quicken Assist and using them to improve customer experiences within the insurance industry.
Let’s take a look at what Quicken Loan’s Quicken Assist entails, what the service means for financial services industries like insurance, and key lessons insurers can take from its development.
What is quickenloans login Assist Service?
Quicken Assist makes getting a loan easier, better and faster using machine learning and algorithms to provide consumers an almost “invisible” process. Through its advanced technology, Quicken Assist allows consumers to:
• Automatically share financial information.
• Receive a customized Quicken solution based on today’s rates.
• Get approval for Quicken and home refinancing in as little as eight minutes.
Quicken Assist Product Lead Regis Hadiaris stated, “We can customize solutions based on income, assets, property, our products and pricing, interest rates, and underwriting guidelines. The system figures out the very best option for each client. No more assumptions. It’s true clarity in the process.”
How the Service can influence Insurance?
Consumers no longer want to be bothered with tedious and drawn out processes. They are looking for services that are quick and painless that can be provided through technology and innovation. Quicken Assist is a great example of how this can be done.
Dan Gilbert, the founder of Quicken Login, described the service as not changing the actual documentation of Quickens, but simply how the information is gathered. Quicken Loans have tweaked a portion of a traditional, tedious process to better serve customers.
Gilbert stated, “This is a massive sea change in the home-lending world. I'm not aware of any other lender where you can apply for your Quicken, look up your interest rate, become automatically approved and have interfaces into assets, income and property values all online.”
Quicken Assist isn’t changing the fundamental process of how loans are actually written, but rather streamlining it with smart technology usage.
Many processes in the insurance industry (e.g. document hand-off back and forth between underwriters and claims processing) are inefficient and wasteful; consumers often suffer as a result. Services like Quicken Assist’s quicken login prove that providing consumers with what they truly want is possible—with the right tools and mindset.
Key Lessons for Insurers
Quicken Loans took a complicated process and turned it into a more appealing service for consumers. Quicken Assist showcases one-way insurers can start thinking about transforming their own services.
Now is the time for insurers to make radical changes. Insurers must be willing to make big bets on innovation to thrive. And they must be willing to disrupt themselves before someone else does. Insurers must take traditional services and products, such as quotes and underwriting, and look for opportunities to better them and disrupt the industry with services like quicken loans login
The industry already faces innovation from the likes of Oscar Health, Lemonade, and Uber that are shifting the way traditional insurance can be provided to consumers. Whether these companies provide insurers with lucrative examples or disruptive, competition remains to be seen.
Either way, they prove that change through innovation is not only possible but is already happening. Insurers need to invest heavily in technologically advanced concepts, products, and services. It’s no longer a luxury, but a necessity, for firms that want to truly satisfy customers.