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Christian Strauch
Managing Director & Co-Founder
Managing Director & Co-Founder
With Mateo, you can offer your customers an outstanding customer experience and win loyal fans.
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When it comes to insurance and financial issues, many customers continue to place great value on competent and personal advice. At the same time, the world is changing and becoming increasingly digital, and customers expect the same from their insurers and financial service providers. In order to be able to provide customers with the best possible and uncomplicated advice in the age of digitalization, the right communication media are crucial. The younger generation is reluctant to pick up the phone, and e-mail communication is also losing popularity. Open rates are low, response times are long and sending documents by email can be tedious. WhatsApp offers a modern alternative that is used by 60 million Germans every day.
Advantages of customer communication via WhatsApp Business in the finance and insurance sector
WhatsApp Business offers numerous advantages for customer communication in the insurance and financial sector. Some of the most important advantages are listed below:
- Individual advice: Insurers and financial service providers can offer their customers individual advice via WhatsApp as a particularly personal messaging channel. Customers can ask their questions, describe their concerns and receive personal and tailored support.
- Simple claims settlement: In the event of a claim, policyholders can simply take photos with their smartphone via WhatsApp and send them to their insurer. This speeds up and simplifies the claims settlement process.
- Uncomplicated document transmission: WhatsApp supports all common file formats so that customers can easily send important documents such as contracts, policies or financial documents to their insurer or financial service provider. This saves time and effort in communication and document management.
- Effective payment management: Payment reminders via WhatsApp are more effective than traditional payment reminders by letter or email. Customers receive the message directly on their smartphone and can respond quickly, which leads to improved payment behavior.
- Efficient customer service: With individually formulated message templates, insurance companies and financial service providers can respond to incoming customer inquiries efficiently and quickly. This enables a faster response time and better customer service.
- Increase in customer loyalty: The personal contact via WhatsApp and the fast and individual support make customers feel well looked after and valued. Satisfied customers are more likely to use other insurance products or financial services from the same company, which leads to increased customer loyalty. And that means an increase in sales for you!
Customer communication via WhatsApp Business therefore offers a modern and effective way of providing the best possible service and support to customers in the insurance and financial sector. Using this communication channel enables faster and more personalized interaction, which can ultimately lead to positive customer loyalty and improved business success.
If you use WhatsApp Business via Mateo's WhatsApp API interface, there are even more advantages: The use is 100% GDPR-compliant, which can save you expensive warnings and sensitive legal penalties. You can also increase your sales through upselling and cross-selling with WhatsApp newsletter marketing and improve your reviews with automated review reminders to satisfied customers. With Mateo, you can link an unlimited number of phone numbers, devices and users to your WhatsApp business account. You can find out about other benefits, such as the universal inbox, in the last chapter.
WhatsApp and data protection: Is its use permitted for companies in the insurance and financial sector?
Many companies already use WhatsApp to communicate with customers. However, this is often done in ways that do not comply with data protection regulations. For example, it is common for employees to write to customers using their private WhatsApp account or via the WhatsApp Business app. Both are not compliant with data protection regulations for several reasons.
In order to use WhatsApp in compliance with the GDPR, there is no way around the WhatsApp Business API introduced in 2018, a WhatsApp interface developed specifically for corporate communication that can be used via a partner such as Mateo. Communication via the WhatsApp Business API is end-to-end encrypted and cannot be viewed by anyone other than the conversation partners themselves. All customer data is also stored on servers in Germany. This means that all data protection requirements are met so that WhatsApp can be used with complete peace of mind.
WhatsApp vs. email: The advantages at a glance
WhatsApp is not only the number one communication channel for young people to chat with friends and family on a daily basis. Older people have also discovered WhatsApp in their millions. Communication via the medium is simple, fast and personal, but above all free of advertising. As a result, WhatsApp messages are seen and read almost 100% of the time. Email is a completely different story: Mailboxes are drowning in spam, mail accounts are overflowing with advertising. Many messages are no longer read at all or simply get lost among hundreds of newsletters and advertising messages. This can lead to annoyance in communication on both sides: Customers may not receive important and time-critical information, and companies wonder why they don't hear back from customers. With WhatsApp, you can ensure that your messages are actually read and offer customers a personal contact medium for your company.
Reading tip: We have already written a detailed article for you on the subject of WhatsApp vs. email newsletters.
WhatsApp marketing for financial service providers, insurers and brokers
WhatsApp can be used for more than just 1:1 communication. With Mateo, the messenger can also be used as a marketing channel. With a WhatsApp newsletter, you can integrate the channel into your online marketing and use it for customer acquisition. WhatsApp is also ideal for reactivating existing customers. With an open rate of over 95%, a WhatsApp newsletter is significantly more effective than its email counterpart. In addition, there is no spam folder, so messages are guaranteed to arrive and be read within a short time.
Interested? Book a free, no-obligation demo appointment and find out more about Mateo and WhatsApp communication. Book here.
Implement customer communication and existing customer marketing via WhatsApp with Mateo
With its in-house software, Mateo enables companies in the insurance and financial sector to use WhatsApp transparently and efficiently in compliance with the GDPR. In addition to WhatsApp, the platform also bundles all other relevant channels such as Facebook Messenger, Instagram Chat, SMS and emails in a central mailbox, making it easier to coordinate and communicate between customers, employees and locations. Reviews can also be managed from one place.
With Mateo's WhatsApp API connection, there are no technical limits to the number of users and devices per account. We ensure that each of your employees has access to WhatsApp if you wish. With Mateo, it is also possible to connect multiple phone numbers to the WhatsApp API. Even your existing landline number! This ensures fast and efficient processing of incoming requests. Different locations and mailboxes can also be managed.
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