How Contact Center Software Help Insurance Companies in Enhancing CX?
If you’re an insurance service provider, then you must know this. The key to success for your business doesn’t just lie within your insurance policies but also in the experience you provide to your customers. But most insurers overlook customer experience while providing services to their customers. Here are some stats.
As per a study, 46 percent of respondents asserted that customer experience is one of the most important factors when choosing an insurance provider. The same research found that almost the same percentage of customers said that lack of communication was their biggest challenge while interacting with insurers.
A new Emplifi study found that 42 percent of customers value seamless omnichannel communication to communicate with insurers using multiple devices and channels. But only 11 percent of decision-makers in the insurance industry focus on omnichannel experiences to deliver quality experiences for customers.
With nearly three-fourths of customers expecting insurance companies to leverage new technologies for better communication, the need for cutting-edge tools such as omnichannel contact center software is needed more than ever before.
At HoduSoft, we have provided many insurance companies with high-quality omnichannel contact center software and helped them enhance customer experience. In this blog post, we have discussed what benefits insurance companies can get by leveraging omnichannel software and how they can choose reliable and effective software.
Benefits of omnichannel software for the insurance business
Trust is an important factor in the insurance industry. As insurers deal with extremely confidential information, they must win customers’ confidence and provide an exceptional experience. Omnichannel contact center software can help in building trust and enhancing customer experience in the following ways.
1. Better customization of services
A study by IBM found that half of the customer’s value customized digital communications from insurers but just 17 percent of insurance companies prioritize customization and personalization. Another study by Accenture found that seven out of ten customers would share relevant personal data for tailored services and lower premiums from insurance companies.
Omnichannel contact center software enables insurance companies to access key customer data such as their personal and demographic information. Tracking past transaction details, interaction with an agent, and purchase history can also help insurers gain insights into customer behavior. By leveraging omnichannel contact center software, insurers can provide customized services to their customers.
2. Improved customer satisfaction
The above-mentioned Accenture study found when insurers provide customized services the customer retention rate is 81 percent. The same study found that when insurers offer customized services they enhance customer engagement by 89 percent.
More than half of customers said that enhancing digital payments for their insurance services would enhance their satisfaction with their insurers. Insurance companies that leverage omnichannel contact center software succeed in providing consistent customer experience across channels.
3. Choice to interact with customers using a wide range of channels
A recent study done by Kubra found 47 percent of insurance customers will call their insurers and speak with an agent directly when any issues arise or they need support. About 26 percent of customers said that they prefer mail and 15 percent said that they prefer mobile apps to contact their insurance companies in case of any problem.
The study found that 43 percent of customers prefer emails to any other channels of communication when it comes to receiving statements for insurance services or policies. When it comes to communicating with insurance companies, different customers prefer different devices and channels of communication. By leveraging omnichannel contact center software, insurers can provide their customers with a wide range of options.
4. Increased security
As insurers deal with a lot of sensitive customer information and personal data, they need to protect their customers and policyholders from the growing spate of cyber attacks and breaches. As per Cybersecurity Ventures, every minute at least five businesses or customers are attacked by hackers and cybercriminals. By 2031, the rate of attacks is expected to increase by five times.
But insurance companies that use sophisticated omnichannel software can enhance their security and make customer interactions much safer. When customers feel safe, their experience with a company will also increase.
5. Increased agents’ efficiency and productivity
As per a study conducted by KPMG, automation in the insurance sector can cut down the repetitive work of agents by 80 percent and reduce claims processing time by 50 percent. Automation in the insurance sector will eliminate inefficiencies and will enhance agents’ productivity.
Customer experience is closely related to employee productivity. Many studies have found that when employee productivity rises, it also enhances customer satisfaction and customer experience.
How to handpick the best omnichannel software for the insurance sector?
In a crowded and competitive market, it won’t be difficult to find omnichannel software providers. But you need to consider a lot of factors to select an expert and trustworthy service provider so that you can get high-quality omnichannel software and an excellent return on investment.
Here are some useful tips to handpick the right omnichannel contact center software for your insurance company.
1. Determine your goals and what you want from the omnichannel software
First thing first, determine your goals and objectives as well as decide the features you want in the omnichannel contact center software. Speaking of features, high-quality software comes with several useful features including auto-dialer, automatic call distribution, multi-level IVR, and more.
Choosing the right features will help you serve your customers most effectively. It will also enable you to streamline the operations in your customer service department and maximize your agents’ productivity.
Once you decide on your objectives and the features you want in the contact center software, it’ll be easy to set a suitable budget for the software.
2. Use the internet to search for trustworthy omnichannel software providers
Some trustworthy and reputable software providers have a proven track record of providing high-quality omnichannel contact center software and solutions to insurance companies.
You can know more about them and their products by browsing the internet. Type some high-intent search terms such as “best omnichannel software for insurers,” “omnichannel contact center software for the insurance industry,” or “insurance omnichannel contact center software.”
You can also use location-specific keywords such as “omnichannel contact center software for the insurance sector in the UK,” “omnichannel contact center software for the insurance industry in the US,” or “omnichannel contact center software for the insurance industry in South Africa.”
After clicking on the search button, you’ll find ten to eleven websites on the first search engine result page. Some of them will be websites of omnichannel software providers, which will help you in checking out various products and contact the team.
Some websites will belong to reputable aggregators such as Software Suggest, which will help you in comparing different software, pricing plans, ratings, and customer reviews.
3. Contact the omnichannel software providers and ask them if they can provide a free demo
After shortlisting various contact center software providers, contact their sales or customer service team and ask them about the products that closely (or fully) meet your needs.
Also, ask if they can provide a free demo. Most trustworthy software providers offer free demos to enable potential customers to experience their products and find out if they meet their needs.
After a service provider agrees to provide the free demo, introduce the software to your team and buy if you feel it meets your needs.
Ensure superior CX with sophisticated omnichannel contact center software
The right omnichannel contact center software can enable insurance companies to provide exceptional customer service and customer experience. At HoduSoft, our HoduCC omnichannel contact center software for insurance businesses has helped all types and sizes of insurers to provide high-quality service to their customers. If you want to know how HoduCC can help you, contact our team or book a free demo.