How to use QR codes for finance and insurance companies

Last updated:   January 19, 2022

The QR codes for finance and insurance companies are cost-effective solutions to simplify processes and transactions, reach more clients, and drive revenue.

The insurance industry is one of the most users of documents and has to deal with a lot of transactions every day. It is also one of the industries that experienced an impact because of the pandemic.

It incurred losses related to Covid-19 and a sudden drop in premium volume brought about by the effects of the pandemic on employment, business activity, and trade.

A global outlook survey by Deloitte’s Center for Financial Services found that 48% of 200 responding insurance executives agreed the pandemic “showed how unprepared our business was to weather this economic storm.” 

Moreover, only 25% strongly agreed their carrier had “a clear vision and action plan to maintain operational and financial resilience” during the crisis.

However, the finance and insurance companies are adapting to the crisis by investing in technology. 

A QR code is a game-changing tool that is massively used by various industries. It offers different solutions for businesses to operate efficiently and to offer new experiences to customers.

Why use QR codes for finance and insurance companies?

Offer users ease and convenience 

QR codes serve as one of the best tech tools that becomes a key differentiator to insurance and finance companies.

website insurance with qr code

As consumers flocked to using digital services aggravated by the pandemic, they expect to have a seamless and convenient experience.

With QR codes, they can instantly visit your website, download their policy document, or install an insurance app. 

Reduce paper wastage and printing costs

Insurance and finance companies are facing pressures to demonstrate their support for sustainability initiatives to combat climate change, environmental pollution, among others. 

To strengthen brands and to avoid having to catch up with regulatory requirements, insurers and finance companies that used QR codes will no longer have to print large volumes of files like contracts and forms. 

Effective lead generation

flyers insurance with qr code

As QR codes have various solutions to allow businesses to generate more leads, you can make use of this tool to get more clients and engage them.

The tool is flexible to use so you can integrate it with your online or offline marketing efforts to expand your customer reach. 

Creates customer excitement and increases brand retention 

Customers want to become more involved with your brand. With QR codes, you can create a trigger for your customers to take an action and anticipate what information they will see once they scan the QR code.

It further improves your brand identity as customers can easily remember your company because of the innovative QR code solutions you’re using. 

Ways on how to use QR codes for finance and insurance companies

1. QR code on insurance card

qr code on insurance card

QR codes can be used to assist customers in claims reporting such as roadside claims. Insurance companies can put a special QR code on the customers’ insurance cards so they can submit claims information easily. 

Atlas Financial incorporated QR codes on its insurance card as a convenient alternative to dialing a claim. This way, customers experienced optimized user convenience with new technology. 

You can use a dynamic URL QR code in the insurance card which will redirect your customers to a dedicated landing page where they can submit documents and photos for claims reporting. 

Since you will be creating multiple QR codes for the insurance cards, and to save you time you can generate URL QR codes in bulk. You can use this template to create one.

Related: How do dynamic QR codes work and how to create them?

2. QR code on the email marketing campaign

Qr code insurance industry

Email marketing provides ample opportunities for insurance and finance companies to reach new prospects while also maintaining current clients and keeping them satisfied.

So making your emails or direct mails stand out from the crowd is a must. With QR codes, you can use it to add another course of action that your prospects can do. It also connects the user’s desktop experience with the mobile experience and increased amount of email engagement.

You can add a vCard QR code as part of your digital signature so your prospects can save your contact details on their phones instantly.

Moreover, you can add a QR code that serves as an event entry pass to invite prospects to attend your event. You can send it along with your event invite or ticket confirmation emails so your prospects or customers can get a hassle-free entry to the event.

Related: How to Use QR Codes for Your Event

3. QR code payment for user convenience

Qr code payment

Make the premium payment process quick and convenient for your customers by adding a QR code. By placing QR codes on your electronic billing statements, you can give your customers an easy way to self-service and make electronic payments.

Your clients can go directly to an online payment flow without the need to enter a password or log-in details. 

Take for example how imingle, an auto and homeowner’s insurer uses QR code linked to billing statements where customers can pay their bills.

4. QR codes in insurance for periodic policy review

Customer information changes such as the need for another insurance coverage, new addresses, and many more.

scanning QR code financial services

Insurance agents can send a customized QR code to their clients to remind them to update their information and even their insurance coverage. Just copy the URL of each client’s account and convert it to a QR code.

You can remind your clients to update their information by sharing a unique QR code to them that redirects to a mobile-optimized website. Then they can manage their policy members and coverage options in a just few minutes.

5. Increase app downloads

Do you have an insurance application that is intended for mobile use? You can now boost your app downloads using the app store QR code. 

This QR code solution allows your users to download or install the app right away on their smartphones. When scanned, it will redirect them to a URL of your app in the app store based on the operating system of their device. They don’t have to look for the app name anymore. 

Related: What is an app store QR code and how to use it?

6. Grow your network using vCard QR code

To start your business off with a larger base of potential clients, you need to improve your networking techniques. 

scanning qr code business card

As an insurance agent, getting your name out in the community and convincing your prospects to choose you for their insurance needs are just part of the tricky process of networking.

To add a new digital way to connect to your customers, you can use a vCard QR code

This solution is used to minimize the text found in a physical business card. It is convenient to use as a user will just scan the code to save your contact information.

If you also need to create vCard QR codes in bulk, you can also generate vCard QR codes in bulk so you don’t have to generate them individually.

7. Digitize documents and collaterals

scanning qr code insurance industry

Minimize usage of paper-based documents and collaterals by digitizing them using QR codes. You can use the File QR code solution to convert a document, a sound file, an image, and even a video into a QR code. 

You can easily share the files with your clients during in-person meetings. No need to bring a handful of documents. 

Since the File QR code is dynamic, the QR codes are editable. If you want to share another type of document, you can just edit the content of your QR code. No need to create another one or reprint it. 

Moreover, you can also edit redirect your QR code (for instance, PDF QR code) and change it with an MP3 file, PNG, JPEG, etc. (as all of these are under the file menu category which makes it allowable.) 

Dynamic QR codes are also trackable, meaning you can track the data of your PDF scans even in real-time! 

Related: File to QR code: How to use a File QR code converter

8. Secure confidential information using password-protected QR codes

qr code on document with password

Accenture survey says that “insurers that are perceived to have breached the trust of their customers risk substantial reputational damage”.

To safeguard your clients’ confidential information and regulate access to your company’s private data, you can use password-protected QR codes.

Password-protected QR codes are QR codes in which the content or information stored in the QR code can only be accessed and viewed after the scanners entered the right password. 

You can have the option to disable the password feature anytime should you decide to allow a larger audience to access the QR code content.

You can activate a password if you generate a QR code for URL or website QR code, file QR code, and H5 QR code.

9. Add a digital element to your print ads/print collaterals

QR code financial services

You can make your print ads and print collaterals more engaging and interactive using QR codes. For instance, you can place a video QR code on your banner during business showcase events so attendees can scan and view how beneficial your products are.

You can also add your company’s website by converting it into a URL QR code so clients can browse through the policies they can avail.

By adding QR codes in print marketing, you can bridge offline engagement to online!

10. Boost social media presence

Either you want to grow your brand’s social media presence or your agents; you can utilize a social media QR code for this.

follow social media scan qr code

If an agent has several business profiles, they can create a social media QR code for this the prospects will just scan the code and connect with him/her on the channel they’re most comfortable using.

The social media QR code is a powerful solution to your social media marketing efforts. It displays all your social media apps like Facebook, Twitter, Instagram, TikTok, Pinterest, Snapchat for Business, Reddit, Inc., etc. into one mobile-optimized landing page when scanned. 

With a social media QR code for insurance companies, your prospects and clients can like, reach out, and follow your social media profiles right away. You don’t have to share long individual links anymore. 

Related: How to create a Social Media QR Code in 7 steps!

How to create QR codes for finance and insurance companies

There are 15 QR code solutions that you can use in QRTIGER to increase your customer base and engage clients in your finance or insurance company.

To create QR codes, follow these steps:

Open qrcode-tiger.com

QRTIGER qr code generator

QRTIGER is the best and trusted QR code generator that the insurance and finance industry and other business sectors are using today.

The software has a minimalist and user-friendly interface that allows users to create QR codes suited for different business goals.

Select from the menu what type of QR code solution you need

qr code solution

After opening the QR code generator software, you can now select which category or QR code solutions you want for your insurance or finance company.

You can see multiple QR code solutions that are suited for your business such as URL QR code, app store QR code, File QR code, and many more.

Enter the necessary data in the field below the solution

Right after choosing the QR code solution you need, fill in the required data in the field menu. 

Make sure that you proceed to generate your QR code without leaving unfilled required fields because the generation will not work if there are missing required fields. 

Choose whether static or dynamic

dynamic qr code

Since you can generate two types of QR codes, you can choose whether it is a static one or a dynamic one. But QR code experts suggest using dynamic QR codes so you can still edit the content of your code and track the QR code scans.

Click “Generate QR Code” and customize your QR code

customize qr code

Next, click the “generate QR code” button so you can proceed with customizing the code. You can add multiple patterns, set the eyes, add a logo and colors to make the QR code more visually appealing and professional-looking.

Then give your clients and prospects a preview of what to expect once they scanned the code by adding a call to action tag to your QR code.

You can apply the best QR code practices when customizing your QR codes to maintain their scan-ability and function.

Test if it works

After that, test your QR code if it works before downloading or deploying it to print or online mediums. 

This is to ensure that there are no scanning problems that might occur and to avoid negative customer feedback.

test scan qr code

Download and deploy your QR code

The last step in creating QR codes for finance and insurance companies is to download and deploy them in the chosen advertising environment, in your files, and even online.

In keeping with your QR code’s quality and readability, QR code experts recommend using the vector formats like SVG or EPS when you print your QR code. Having a QR code in SVG or EPS format, you can still resize the QR code without affecting its image’s original quality.

When deploying your QR code in your print ads and print collaterals, it is best to adhere to the recommended printing guideline.

QR code for financial services: Tracking your QR code scans real-time using QR code analytics

QR code experts recommend using dynamic QR codes to maximize the uses of the tool.

Using a dynamic QR code, allows you to measure your QR code campaign. You will know the number of scans, the demographics of your scanners, and their location when they scanned the code.

This way, you’ll be able to monitor your QR code campaign performance regularly and be more data-driven in your strategies.

qr code with analytics

Moreover, it allows you to edit the content embedded in the code.

For instance, if you already printed your QR code or deployed it online and you want to update the content or modify it you can still do so with a dynamic QR code.

It saves you time and resources as you don’t have to reprint again the code in case you wanted to edit the content of the QR code.

Real-life examples of QR codes in insurance industry and finance companies

1. Atlas Financial Holding in the US uses QR codes for quick claim processing

atlas financial holding qr code

Atlas Financial incorporated QR codes on its insurance card to redirect users to a claim form.

It makes claim processing fast and easy with a simple scan of a smartphone. It lessens turnaround 

time in claim processing and the tedious manual verification  

2. Pru Life UK Philippines uses a QR code for attendance tracking

qr code for attendance

PruLife UK Philippines, one of the leading insurance companies in the country also uses QR codes to track the attendees of webinars and online events.

By scanning the code, event attendees can confirm their attendance by filling out an online form.

3. imingle uses QR code as payment method

imingle, an auto and homeowner’s insurer uses QR codes to allow customers to make instant payments anywhere using a QR code and their mobile phones. The initiative aims to cater to the technology-centered generation of customers. 

The move is the latest from the innovative company built around the service needs and expectations of the technology-centered generation.

Grow your business using QR codes for finance and insurance companies

The insurance and finance industry landscape is evolving. To outshine your competitors and grow your customer base, integration of tech innovations in your day-to-day operations become important.

With QR code technology, you can transform your traditional sales and marketing efforts into a more engaging and interactive one. You can simplify transactions to your clients while delivering better customer service.

Start using QR codes now with QRTIGER. If you need more information about the QR code solutions for your company, you can contact us here

Related terms 

QR code scanner for insurance companies 

There are a lot of QR code scanners that are available online but it is best to use a QR code reader that has a quick reading capacity to detect QR codes.

QRTIGER is a reliable QR scanner app that is available in Google PlayStore and Apple App store. 

brands using qr codes