Business Process Outsourcing (BPO) can free up your company’s resources so you can focus on other things. But choosing an insurance BPO provider is a high-stakes decision. Choose right, and you gain a partner that can help you grow your business. Choose wrong, and your company’s reputation could suffer – or worse.
Here are 10 things to look for in an insurance BPO partner:
- Scalability. Right now, you might only have 100 calls a month – but as your business grows, your call volume will grow, too. You need a BPO partner that can provide scalable support for call volumes.
- Bilingual Services. Language barriers can get in the way of good customer service. You need a BPO who can speak your customer’s language.
- Representation of Your Brand. When your customers reach your BPO partner, you want them to get the same service and information that they’d get if they reached you directly. To ensure a seamless experience, your BPO partner needs to be thoroughly trained to deliver your brand experience.
- Multiple Channels. Some people still prefer to pick up the phone when they need help, but other people prefer to send an email or start a direct messaging chat. Your BPO partner should provide options so your customers can use the communication methods they’re most comfortable with.
- 24/7 Availability. Your customers want help on their timeline, and your BPO partner should help you provide it. This means that services need to be available after hours and on weekends. Your BPO partner should also be ready to help with disaster response and increased call volume during a catastrophe.
- Onshore service. When you contract with an onshore BPO partner, your company is staffed by professionals who understand the nuances of American language, cultures and customs, and who are trained in American insurance best practices. These small details can make your policyholders feel more confident in your processes.
- Strong Insurance Expertise. Every customer touchpoint represents a make-it or break-it moment in the carrier-policyholder relationship. Your BPO partner must have deep operational understanding of FNOL, premium, policy, underwriting and print/distribution processes so they can proficiently answer questions and adapt to any service scenario. In all cases, the goal is to minimize transfers and achieve faster resolution.
- Customer Satisfaction. Customers expect a lot these days. They want helpful, friendly service, and they want it immediately. If your BPO partner doesn’t deliver a great experience, you risk losing customers and agents may choose to place their business elsewhere. You shouldn’t be hearing complaints from agents or policyholders. If you are, it may be time for a new BPO.
- Fast Implementation. If you’re trying to launch a new brand, introduce a new product or enter a new state, every day wasted represents opportunity lost. You need a BPO partner that will do what it takes to get you to market fast.
- Longevity and Adaptability. Your company’s needs may change as your business grows. You want a BPO partner than can keep up and pinch hit in other areas as needed when special projects arise. Look for a wide range of services, including customer support, claims, print and virtual mail room, payment services, underwriting support and more.
I’m happy to report that Covenir checks all 10 of these boxes. If you need an exceptional insurance BPO partner, I encourage you to review our capabilities, read what our customers say and contact us if you’d like to learn more.