• Cost-effective
Paper costs have increased by many folds over the last few years. Even its management and storage is a costly processes. It's estimated that a single piece of paper with a document imprinted on it can cost around 53 cents. So, shifting to paperless can help you save 53 cents on every online insurance document. Creating online documents is far much easier than paper-based documents.
• Lower risk of mismanagement and errors
Paper-based documentation has a higher risk of mismanagement and error. If you have printed the wrong figures on the paper, you cannot change it without replacing it with another paper. On the other hand, the risk of mismanagement and errors is way lower in digital documentation. Even if there's an error in a digital document, you can change it with merely a few clicks. Plus digital document software has further reduced the risk of mismanagement.
• Going paperless ensures easy access to your policy documents online.
After buying a paperless policy, your insurance company provides you with access to their online portal where you can check your policy documents without going through any paper-based formalities. Paperless policies help you eliminate the clutter of paper documents that can prove overwhelming for you. You can also download, share, or print your policy documents easily if needed.
• Customer Satisfaction
With paperless insurance policies, you no longer need to visit your insurance company's office to file a claim or know the status of a claim. You can manage all aspects of your insurance policy online. Paperless insurance helps insurance companies to provide a better customer experience to the policyholders. It also lowers the churn rate. Paperless insurance has made it possible for policyholders to pay their premiums online through e-billing. They no longer need to wait in long lines to pay their premiums in banks.
• Paperless Insurance is adapting to the post pandemic world
The COVID-19 pandemic has changed the world a lot. People are advised to avoid unnecessary contact and touching of anything that can carry germs or viruses. Paper might be a source of virus spread. Therefore, the insurance industry is gradually shifting to paperless to adapt to this post pandemic situation.
Need help navigating your Homeowners Insurance, Auto Insurance or Commercial Insurance needs?
Call Davila & DeFusco Insurance
(978) 241-7950
