Innovative collaboration technologies enable more personal, direct interactions with customers at the right time—at their point of need. Customers want products that meet their needs, delivered quickly through good service and at a competitive price.
To influence customers’ perceptions of their products, services and overall experience, insurers can use collaboration technologies at three key interaction points.
Between the customer and the agent to strengthen the brand
For example, a top-ten US P&C insurer is augmenting its service with video kiosks that connect customers in an agent’s office with product experts located anywhere in the world. It gives customers greater access to specialized information and reinforces the agents’ role as advisor.
Between the customer and the insurer to accelerate processes at lower cost
Through a click-to-video claims application, customers can use their smartphones to record property damage and then submit it as part of their proof of loss, directly to the insurer. As another example, an insurer can supplement an agent’s service with a contact center that can access the pertinent customer information and coverage details to provide seamless support 24/7.
Between the agent and the insurer to further streamline processes with measurable productivity gains
In a 2012 survey of more than 220 customer relationship management (CRM) decision makers, Nucleus Research found that adding social capabilities to CRM increases sales staff productivity an average of almost 12 percent. Collaborative tools can also provide the agent with more timely access to the insurer’s network of experts and specialists to guide them through more complex risks.
There is a significant upside for insurers who embed collaboration technologies into their core business processes. Customers gain more control of, and more choices for interacting with their P&C provider, and can quickly find the resources they need to make solid risk management decisions. Carriers gain a better understanding of customers and their intentions across the insurance lifecycle that can equate to top- and bottom-line results, including:
- Increased first-call/touch point resolution.
- Lower cost-to-serve.
- Decreased cost-to-acquire.
- Improved initial and cross-sale closure rate.
- Increased customer long-term value, better aligning cost to serve with customer age and risk complexity.
- Higher and sustained profitability.
To learn more, download Enhancing Collaboration from Carrier to Customer (PDF; opens in a new window).