Insurance companies rely on intricate processing systems that are able to run smoothly under the strain of constant transactional activity. Meeting the customer service needs of customers and agents, especially following a loss, can present significant customer service challenges. Based upon our work with insurance companies throughout the industry, we have supported our clients in managing challenges including:
- Constant cost pressure. Competition within the insurance industry continues to escalate. With new companies entering the field on a regular basis, competition necessitates decreasing costs while increasing quality. Our consultants can help find that balance.
- Demanding customer service. Unlike retail, where a customer may be angry over a faulty product, insurance representatives deal with people in accidents, facing catastrophic loss or potentially have life-threatening emergency surgeries that require immediate payment processing. When a call could literally be a matter of life or death, there is no room for contact center problems or inefficiencies.
- High volume transaction processing. Millions of forms are processed every day in the insurance industry, each with sensitive information that requires timely processing. Streamlining the contact center is the first step to improving customer experience and remaining competitive in the field.
- Complex agency relationships. With hundreds or thousands of agents, insurance companies need to ensure they are providing clear communication and reporting to agents. Additionally, metrics need to be established to ensure that agents are following established guidelines and writing good business.
Great customer service is a clear differentiator and applies during every interaction with the company. Using the business analytics models and data analysis, our management consultants create and implement operational plans custom-tailored to each client’s particular needs.