Insurance organizations encounter several challenges that require them to navigate a complex landscape these days. There are conflicting regulations, such as GDPR, at the state, country, and even jurisdictional levels, which put pressure on insurers to ensure compliant communications. Moreover, insurers must cater to the varied preferences of their customers, with some still favoring agent and call center interactions for quotes, renewals, and applications, while others opt for digital channels such as electronic applications, web self-service documents, and digital communications. In this blog, we’ll define what OpenText Exstream is and discuss five reasons why insurers can benefit from this solution when battling these challenges.
What is OpenText Exstream?
OpenText Exstream is a customer communications management (CCM) software that enables insurers to design, create, and distribute personalized communications to their customers. It helps insurers to deliver consistent, compliant, and engaging communications across various channels, including print, email, web, and mobile. Eager to learn more? Check out another article from our blog called “What is OpenText Exstream? CCM Solution Overview 2023” and learn more about the variety of OpenText Exstream services we provided.
Why should Insurers implement OpenText Exstream?
- Personalized Communications: Exstream enables insurers to create personalized communications tailored to each customer’s needs and preferences. With its data-driven approach, insurers can use customer data to segment their audience and deliver targeted communications that resonate with each customer.
- Compliance and Security: Insurers must comply with various regulations when communicating with their customers. Exstream ensures adherence to regulatory compliance, and provides features such as encryption and audit trails to help insurers meet their compliance requirements and protect customer data. OpenText Exstream allows insurers to simplify the management of variable content to ensure compliance with changing government regulations and privacy legislation. With the compliance support capability, appropriate content is automatically included in customer documents based on their jurisdiction and effective dates, which increases compliance and customer satisfaction. Additionally,
- Streamlined Workflow: Exstream integrates with various systems, including policy administration, claims, and billing systems, to streamline the communications workflow. This reduces manual effort and enables insurers to deliver communications quickly and efficiently. Learn more about OpenText Exstream’s ability to integrate into insurance solutions.
- Multi-Channel Delivery: With Exstream, insurers can deliver communications across multiple channels, including print, email, web, and mobile. This allows insurers to meet their customers where they are and provide a consistent experience across all touchpoints. Learn more about Exstream’s multichannel delivery options.
- Improved Customer Experience: With personalized and consistent communications, insurers can improve the customer experience and strengthen customer relationships. This can lead to higher customer retention rates and increased revenue for the insurer.
Wrap-up & Advice
Overall, OpenText Exstream’s features and functionality enable insurers to streamline their communication workflows and improve the customer experience across various touchpoints, automate communication workflows, improve the customer experience, and increase operational efficiency.
By working with a trusted service provider, who has strong expertise in OpenText Exstream and the insurance sector, you can transform a wide range of document-related processes at your organization. Would like to learn more. Talk to an expert.