The success of an insurance company centers on their ability to deliver superior customer service. The insurance industry is more of a people’s business. This means that every insurance operation touchpoint should be rooted to customers’ expectations and promotes better customer service.
Insurance organizations are taking steps to improve customer service and be at par with customers’ evolving expectations. However, the volatile market conditions, regulatory reforms, hyper-competitive industry is creating a rough terrain for insurers. This is making it difficult for insurers to overcome their customer service pain points and deliver long-term and good customer service.
In this blog, let’s explore the main customer service pain points faced by insurers and how insurance BPO services providers can help deal with the same.
Main customer service pain points that insurance BPOs can help manage
- Uneven Customer Experience across Channels
It is true that insurers have invested into various communication channels to appeal to a wide range of customers. However, they fall short in ensuring consistency in customer service quality across all the communication mediums. Such a service-level inconsistency stirs confusion in customers about brands’ commitment towards their clients.
- Evolving Customer Expectations
Customers these days need more personalization in the policy terms. Modern day customers expect Ecommerce-grade experience in their query resolution. However, insurers lack insights into each of their customers’ unique expectations. Such a lack of insights impeded insurers’ ability to proactively reach customers, curate policies for customers at risk, and provide personal attention to their clients.
- Shortage of Staff
In-house contact center of insurers typically faces a high rate of attrition. Moreover, insurers fail to retain experienced personnel. A longer tenured professional knows every detail about insurers’ wide clientele. New recruits find it hard to match that kind of standard within a short span of time. This results in a downgrade in customer service that ultimately leads to insurers losing customers.
- Technology Overuse or lack of it
Technology is not always an answer to customer service at a personal level. Customers do not always dial in with generic queries on their policies. They have unique queries about ad-hoc changes in their policies because of a customer’s sudden financial upheaval of a downturn. Customers may also seek suggestions about policies that suit their financial health or lifestyle. Experienced agents parse through insurers’ existing customer base to understand individual client.
Insurance BPO services providers help their clients overcome these challenges to deliver quality customer service. Here’s how:
- Provide Customer Insights: Insurance BPO providers leverage advanced analytics solutions to draw actionable insights from existing customers’ data base. Insurers use this data to understand each customers’ unique needs at certain point of time.
- Provide Domain Specific Experts: Third-party Insurance BPO providers house professionals that have expertise specific to different insurance operations such as claims management, renewals processing, loss run report ordering, and others.
- Consistent Customer Service across all Channels: Insurance business process outsourcing partners use advanced contact center software that transform messages into cases. These cases are then triaged based on insurance operation and priority. The triaged cases are then automatically routed to specialist agents across all the mediums of communication.
Alza Business Solutions is an industry-leading insurance BPO service provider. We partner with Insurance agencies, MGAs, insurance carriers, and brokers to provide back-office solutions. These solutions streamlined insurance operations and optimized operational costs.
Partner with us to witness an instant boost in your operational efficiency and customer service capability.