For almost three decades, QR codes have relayed useful digital information from a static surface. However, it took 26 years for it to be widely used by various sectors, owing it mainly to the popularity of smartphones and the pandemic.
QR codes are most popular in countries like the UK, US, China, UAE, Canada, Australia, and India. A lot of businesses in these countries are using the low-cost convenience of QR codes, among them are insurance companies.
By using a reliable QR code generator online, insurance companies are able to reach more potential customers, and simplify most of their processes and presentations.
Want to know how insurance companies are using QR codes today? Here are some of the notable use cases you may have encountered with your current insurance policy.
How do insurance companies use QR codes today?
Attracting more clients
Insurance policies enable people to secure their assets and lives from unforeseen events such as medical emergencies, accidents, and even death.
As it’s more important than ever before to stay covered, insurance companies are redefining their means of attracting more clients using QR codes.
Insurance companies can use these codes to get more clients and provide the complete information on the policies they offer.
They provide detailed information about the policy to their distributors or agents with brochures or pamphlets. The QR code can either redirect them to the policy terms, or help customers compare with other policies.
This involves using a PDF QR code to enable agents to send helpful information to their clients by giving them access to all the pertinent files in just one scan.
Engaging with Customers
Aside from acquiring new clients, QR codes can help keep customers engaged and well taken care of.
They can either direct them to their social media pages to read more about their policies, or encourage them to download their mobile to get started with the application.
Insurance companies can use a QR code generator with logo software to get creative with their QR code designs. They can customize the pattern, eye shapes, and color and add their company logo and call to action.
QR Codes for insurance regulation compliance
The insurance business is worth a total of 9.7 trillion dollars being invested in 2020 according to S&P Market Intelligence.
By using QR codes, the government can check if a person has already secured insurance on their assets through a verification system.
One great example that insurance policies are getting regulated can be seen in India, where car owners are required to place a scannable QR code in their policy document.
When scanned, the code directs the compliance officer to the policy information such as the number, validity, and more that is being stored on the insurer’s database.
Processing of requests and claims
One private Indian Insurance company, Bajaj Allianz Life Insurance, uses QR codes to allow customers to make self-service requests and claims. The code can be seen and scanned on all of their 509 branches.
When scanned, the QR code will prompt the client to download the app and enter their insurance information to file a request or claim.
Receiving payments
With technology influencing how today’s transactions are modernized, insurance companies are also updating their means of receiving customer payments.
Using a QR code as a gateway for receiving payments, there is now a much shorter time spent by customers waiting at the insurance office for their payments to get acknowledged and posted.
These 2D barcodes provide the convenience most customers seek when paying for their monthly or quarterly premiums.
QR codes have so many innovative uses for insurance companies as they can hold more data. When data sharing, it’s best to let the customer scan the QR code to get all the files, instead of manually sending them an email with the zip file.
This way, customers can easily glance at the policy on their phones anytime, and they can easily transfer it to their desktop if they need to.
If you own or work for an insurance company, QR codes can be the next big thing for your company in enabling a straightforward policy application system. Start pitching your insurance selling ideas with QR codes and improve your current processes and online marketing.