New Survey: Visits to Online Insurance Websites Popular but Purchase Slowed by Lack of Service
eGain Communications Corporation (Nasdaq: EGAN), a leading provider of eService software for the Global 2000, today reveals the results of its survey into the online habits of visitors to insurance websites. The results give clear indication that customers are using the web to gather insurance information, to ask questions of insurance companies, and to obtain quotes. However, it would appear that insurance companies are failing to deliver the service required to capitalise on the opportunities to convert these customers.
The survey was completed in Spring 2002, and a total of 150 frequent Internet users in the UK, between the ages of 25-40 were polled. The survey results reveal that:
· 75% of respondents had visited an online insurance website. Insurance company
websites appear to be a popular destination for web users.
· Among the 25% who had not visited an online insurance website, the main inhibitors (cited by 49% of those) were concerns about online customer service and concerns about online security.
Among those who had visited an online insurance site:
· 61% requested pricing information.
· Only 30% went as far as purchasing an insurance policy online.
· The most popular purchase was holiday insurance, accounting for 71% of all online
insurance policy purchases.
Vice President of International Marketing at eGain, Ryan Rosenberg comments, “The insurance industry has rushed to move online but buyers are still nervous about making large purchases. Like so many industries when they first go to the Internet, the insurance industry has failed to recognise the level of support online customers require in the decision making process.”
“We have seen this pattern before”, continued Rosenberg. “Some industries, such as banking, have made enormous strides in online service, and buyers are now requesting loans and even negotiating mortgages entirely through the Internet. We fully expect the insurance industry to follow suit. The good news for insurers is that eService software technology is available that can improve customer satisfaction, build confidence in web purchase, and increase cross sell opportunities.”
eService encompasses a range of integrated solutions to improve online customer service including email management, web collaboration, enterprise-wide knowledge management and multiple forms of web self-service. According to a report from analyst firm the Yankee Group, web self-service applications have become a spending priority for customer care managers. Various examples of eService in the insurance sector already include Friends Provident, which uses intelligent agent technology to direct visitors to the appropriate section of the website, and answer FAQs, and Legal & General who use live Web collaboration to complete the online sales cycle.
Live web collaboration has the capability to offer the customer an unparalleled level of service, providing the capability to talk to the customer via real-time text chat, while online to answer any questions. In addition, via ‘Escorted browsing’, it is possible to direct a customer to other areas of the website, assist in the completing of application forms for new or renewing policies, or even to link to competitors’ websites to compare quotes and policy details.
“By integrating chat and co-browsing, several eService vendors are creating powerful collaboration solutions that overcome the flaws of previously available chat and co-browsing offerings,” said Esteban Kolsky, lead eService analyst at Gartner.
About eGain Communications Corporation
eGain (NASDAQ: EGAN) is a leading provider of eService software. Selected by 24 of the 50 largest global companies to improve phone and Web-based customer service, eGain solutions increase service efficiency and customer retention - thus delivering a significant return on investment (ROI). eGain eService Enterprise - the company's integrated software suite - includes applications for email management, Web collaboration and self-service, and enterprise-wide knowledge management. eGain has an operating presence in 18 countries and serves more than 800 enterprise customers worldwide - including Vodafone, DaimlerChrysler, and ABN AMRO Bank. To learn more about eGain, please visit
or call the company's offices - United States: (888) 603-4246; London: +44 (0) 1753 464646; or Sydney: +612 9492 5400.
Further information on eGain - including interviews and photography is available, please contact either Graham Thatcher or Juliette Doel at MCC International
Graham Thatcher/Juliette Doel
MCC International Ltd
Tel: 01962 888 100
Tel: 01753 464646
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