Insurance is meant to protect policyholders in the event of an unexpected financial loss. While both insurers and customers alike hope a claim is never needed, the truth is, accidents happen. And when someone does submit a claim, they’re likely going through a rough time – whether it’s a car accident, storm, or break-in. Representatives need to ask the right questions, offer support, and provide next steps. Most importantly, they must be able to empathize with customers and make them feel confident their situation is being taken seriously.
Now more than ever – and even more so as demographics shift into the future – it’s business-critical for insurance providers to focus on delivering truly exceptional, personal, and proactive customer experiences. Countless studies have demonstrated the clear relationship between customer satisfaction and retention, loyalty, and ambassadorship. It’s so obvious, yet taking our eye off the ball – even for a moment – can be a liability for the brand. So how can you stand apart from your competitors by providing customer service experiences that exceed expectations?
The answer is simple: strategically outsourcing frontline services to a team of experienced onshore professionals.
An Introduction to Business Process Outsourcing
Staffing a customer service center can be costly. But it’s not the only option. With the right partner, customer service can be provided through external experts, capable of reliably and transparently representing your unique insurance brand, on your behalf, cost-effectively and onshore. Such a partnership will not only save you time and money, but also allow you to focus your valuable in-house resources on other critical functions or business urgencies. Most importantly, in an insurance market that’s increasingly competitive and complex, where policyholders expect engaging brand interactions with a familiar human touch, superior customer service is what will keep you growing and succeeding ahead of the competition.
Outsourcing customer service should be a straightforward process: you define the vision, they execute. In other words, you determine the level and standards of service while a team of outsourced customer service experts takes care of the rest. Insurance BPO outsourcing doesn’t have to stop at phone calls and email support; with the right partner, it can extend to all aspects of the customer experience, from claims to policy renewal and beyond.
How Can Insurance BPO Help?
As insurance providers, it’s fundamentally important to be there for your customers when they need you most. That one first notice of liability call could be fifteen years of premiums in the making. So, simply put, picking up the phone and taking some notes isn’t going to cut it. It’s about truly showing up and coming to the table for them. The entire relationship a policyholder has with your company’s brand revolves around customer service. And yet, ensuring the right knowledge, training, resources, and processes are in place, right across the organization, in every location, around the clock, to effectively cross the line from good to great customer service, is a daunting business challenge.
By working with a BPO business skilled in frontline services like Call Center and FNOL intake, back-office support, and print and electronic customer communications, you can promise and deliver truly exceptional customer service that gives your company the edge. Factors like real-time availability, language services, and experienced representatives will make the difference in helping your customers get through their claims process with comfort and ease. After all, a holistic 360-degree experience is the most effective way to build lasting relationships with customers. Acknowledging their needs, responding promptly, and remaining consistent is what builds trust and loyalty over time.
In the insurance industry, there are many aspects of customer service beyond simply helping policyholders with their claims. When working with a BPO that has industry knowledge and proven experience, you can expect full support in each of the following areas:
- Underwriting support
- Billing customer service support
- Mail support
- Print service
- Document management
- Policy renewal support
- Legal compliance generation service
- Retention campaign support
- Premium collection support
- Product advisors for sales campaigns
Confidence to Move Forward and Win
Consider this: while an insurance premium is an investment in peace of mind for the customer, each premium received by the insurance company is an investment in that company’s future. Working with a supportive business partner will help you maximize efficiencies, so you can focus on seizing strategic growth opportunities while counting on strong customer loyalty.
In an increasingly virtual environment, reducing payroll can help companies overcome the threats (such as the costs of hiring and decreased productivity) that come with turnover. With lower staffing turnover risk, productivity rises, and business operations continue smoothly.
At Covenir, we specialize in providing customer service that exceeds your customers’ expectations, your way. We’re not just an extension of your team – we are your team. Technology-centric and human enabled, we’re standing ready to help get you where you’re headed next, fast.