WhatsApp for business - insurance and finance

When it comes to insurance and financial topics, many customers still attach great importance to competent and personal advice. At the same time, the world is changing, becoming increasingly digital, and customers also expect this from their insurers and financial service providers. In order to be able to advise customers in the best possible and uncomplicated way even 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 via email can be tedious. WhatsApp offers a contemporary alternative here, used by 60 million Germans every day.

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Advantages of customer communication via WhatsApp Business in the field of finance and insurance

WhatsApp Business offers numerous advantages for customer communication in the insurance and financial industry. Some of the most important benefits are listed below:
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Individual advice: Using WhatsApp as a particularly personal messaging channel, insurers and financial service providers can offer their customers individual advice. Customers can ask their questions, describe concerns and receive personal and tailored support.
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Easy 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 claims settlement.
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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.
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Effective payment management: Payment reminders via WhatsApp are more effective than traditional payment reminders via letter or e-mail. Customers receive the message directly on their smartphone and can respond quickly, resulting in improved payment morale.
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Efficient customer care: With message templates that can be individually formulated, insurance companies and financial service providers can respond to incoming customer inquiries efficiently and save time. This enables faster response times and better customer care.
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Increasing customer loyalty: Personal contact via WhatsApp and fast, individual support make customers feel well looked after and valued. Satisfied customers are more inclined 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 on your side!

Customer communication via WhatsApp Business thus offers a modern and effective way to provide the best possible service and support to customers in the insurance and finance industry. Using this communication channel enables faster and more personal interaction, which can ultimately lead to positive customer retention and improved business success.
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If you use WhatsApp Business via Mateo's WhatsApp API interface, there are even quite a few more advantages: The usage is 100% GDPR compliant, which saves you from expensive warnings and severe legal penalties. You can also increase your sales by upselling and cross-selling with WhatsApp newsletter marketing and improve your reviews with automated review reminders to satisfied customers. Mateo lets you link unlimited phone numbers, devices, and users to your WhatsApp business account. You can read about other benefits, such as the universal inbox, in the last chapter.

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WhatsApp and data protection: Is its use permissible 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, employees often use their private WhatsApp account or the WhatsApp business app to write to customers. Both are not data protection-compliant 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 communications 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 except the interlocutors themselves. All customer data is also stored on servers in Germany. This means that all data protection requirements are fulfilled so that WhatsApp can be used without any concerns whatsoever.

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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 for themselves by the 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. It's a completely different story with e-mail: Mailboxes are drowning in spam, mail accounts are overflowing with advertising. Many messages are no longer read at all or are simply lost among hundreds of newsletters and advertising messages. On both sides, this can lead to annoyance in communication: Customers may not receive important and time-critical information, and in the company you wonder why you don't get a response from the customer. With WhatsApp, you ensure that your messages are actually read and offer customers a personal contact medium to your company.

Reading tip: We have already written a detailed article for you on the topic of WhatsApp vs. e-mail newsletters.

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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 over 95% open rate, a WhatsApp newsletter is much 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.
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Interested? Book yourself a free, no-obligation demo appointment and learn more about Mateo and WhatsApp communication. Book here.

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Implement customer communication and existing customer marketing via WhatsApp with Mateo

Mateo's in-house software enables companies in the insurance and finance industry to use WhatsApp in a GDPR-compliant, transparent and efficient manner. In addition to WhatsApp, the platform also bundles all other relevant channels such as Facebook Messenger, Instagram Chat, SMS and emails in a central inbox, thus facilitating coordination and communication between customers, employees and locations. Assessments can also be managed from one place.

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With Mateo's WhatsApp API connection, there are no limits to the number of users and devices per account from a technical perspective. We make sure that each of your employees gets an access to WhatsApp, if that's what you want. 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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At Mateo, we are your messaging experts when it comes to customer communication. Dozens of companies in the financial and insurance industries already use Mateo and are enthusiastic about it. Our customers particularly appreciate the following advantages of Mateo:

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Central user interface

In addition to WhatsApp Business API, Mateo bundles many other communication channels such as email, Instagram, SMS or Facebook Messenger in a central inbox. On the intuitive and clear user interface, you will find various helpful tools for particularly efficient customer communication. A web widget with the messaging channels you support is available for your customers for particularly easy contact.

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Custom Message Templates

Thanks to various message templates that can be created individually, the amount of paperwork is minimized and the efficiency of customer communication is increased. This means that personnel resources in the service area can be deployed elsewhere.

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With Mateo's WhatsApp API solution, newsletters can be sent in a GDPR-compliant manner. Due to the first-class open rate of 98% for WhatsApp messages, marketing can thus be carried out significantly better than via email or other channels.

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More positive Google reviews

With Mateo, you create an outstanding customer experience. Mateo can automatically request online reviews from your customers. The more reviews you have, the better you will be found on Google, for example. Reviews also create trust in your company.

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Privacy

Mateo's messaging tool is compatible with all German and European legally binding data protection requirements. If necessary, the software will be revised accordingly in the event of any changes to the law. For absolutely secure customer communication, all WhatsApp messages are encrypted end-to-end. All info on the GDPR when using WhatsApp can be read in this article.

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Scalability for all company sizes

The scalability of the messaging tool has been confirmed by the large number of companies already using Mateo with a high level of satisfaction. Whether customers have just a few employees or many hundreds, the software works reliably and, depending on the package, with an unlimited number of end devices, users and phone numbers. The fact that Mateo significantly reduces the workload in the customer service area opens up new growth opportunities for many companies.

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Mateo: a cost-effective provider for WhatsApp Business API

With an entry-level price of just 79 euros per month, Mateo is a cost-effective provider for WhatsApp Business API solutions on the German market. In combination with the integration of further communication channels and various helpful tools, Mateo offers good value for money. Mateo's personal customer support assists companies at every step of the integration and thus ensures very low barriers to entry

WhatsApp for companies in the insurance and finance industry