Providing an enhanced customer experience at the claims intake and handling stage can have a major impact on profitability and brand loyalty. Notably, while only a small fraction of customers file a claim, the occasion represents the product actually being used.

To optimize the claims experience and foster stronger customer relationships, insurers should establish metrics specific to their claims process. Last week I discussed three of them; here are four more:

  • Claims to call percentage. Insurers can improve their performance by leveraging technology to improve claims routing. Furthermore, training can improve first-call resolution to reduce claims losses and indemnity.
  • First call resolution. By empowering claims call center personnel with the mandate to resolve or address questions the first time the customer calls in, insurers can improve their customer experience. Rates of first call resolution can be improved with an effective knowledge management system that provides call center personnel with relevant customer information so they can better address a caller’s needs.
  • Average minutes per resolution. In our Claims Customer Survey, 95 percent of respondents ranked speed of settlement as the most important factor for their claims satisfaction. By better managing the time per resolution, insurers can optimize the claims experience, improve accuracy and ensure that issues are dealt with in a timely manner.
  • Claims cycle time. By leveraging data and analytics to monitor claims cycle times, insurers can identify bottlenecks so they can reduce cycle times and improve customer satisfaction.

In short, by redefining the claims contact center—and importantly, the metrics by which it is measured—insurers can create a much more positive experience for their customers. And that can decrease attrition rates and enhance the company’s reputation for offering informed, effective service.

For five steps to transforming the contact center, register to download Transforming the Insurance Contact Center Customer Experience.  It was written by my colleague John McNally; many thanks to John for allowing me to share his expertise in this blog series.

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