With many Insurance products, the main touch points for customers are contact centres and written communications. The emails, letters, reports and general correspondence are in effect the organisation’s ‘calling cards’. These - plus the contact agents’ performance and the effectiveness of your self-service capabilities - largely determine your customers' perception of service and their sense of being valued. Only a few leading businesses manage their evolving, large-scale customer communications requirements in a way that lets them stand out positively from their competitors, while also driving greater efficiency.
It is vital to produce and distribute clear and informative policy information cost effectively in the client’s preferred choice of communications channels. However organisations are simultaneously struggling with:
changing from product to customer focus
achieving superior customer and pricing segmentation
moving beyond 'tick-the-box' compliance
cost control for policy administration, claims and billing operations
assuring appropriate security and scrutiny of data access.
The right choice of document creation, output management and live search integration technologies, together known as Customer Communications Management, is a key infrastructural component. But to maximise this potential, you need an organisation skilled in the integration of people processes, information management disciplines and systems implementation. At icon, we specialise in these areas. We create customised solutions to drive transformational improvements in customer service, compliance, revenue generation and cost effectiveness that our clients need.
Insurance - Benefits
The benefits of a comprehensive, responsive and properly implemented Customer Communications Management (CCM) strategy are clear:
Enhanced Market Share - differentiate your business propositions ahead of competitors. Bring all customer information together at the point of use. Produce immediate, relevant and accurate bids, quotes and contracts, delivered through internet, print, SMS or other relevant channels - whether you win new customers through marketing-led self-service, field sales or call centres.
Increased Customer Retention - savvy customers expect to be able to access their records quickly and easily. They expect them to be accurate and complete. Organisations which consistently meet customer service expectations maintain the highest satisfaction ratings and retention levels.
Improved Staff Satisfaction - sales, service and operations staff need accurate, consistent, 360⁰ views of customer information to be able to respond to customer needs freely and safely in any correspondence. Providing staff with better means of responding to customers - without compromising legal, compliance, branding or business process constraints - increases staff satisfaction as well as productivity.
Reduced Costs - rationalise document creation and output systems across the enterprise to give direct cost savings in IT hardware, software, facilities, document-related staff, paper and postage. Exploit new capabilities through simplification of processes, generating further large savings.
The efficiency of business processes and the importance of Social, Mobile and e-Media technologies require a close integration of all document-related processes within the organisation. Key benefits include a strong Return on Investment, enhanced customer engagement, increased sales and reduced risk. icon Customer Communications Management and document control solutions can deliver these benefits - and more.
Insurance - Uses
Innovations in insurance communication with policy holders, financial advisers and other intermediaries are necessary in response to increasing competition on a global scale, social networking and consumer technologies and the frequency of legislative and regulatory changes. With changes in client expectations resulting in pressure on margins, organisations need to find new ways to control costs and improve utilisation levels. Existing investments can be leveraged with new tools such as integrated documentation control and smart information management processes.
The application of such Customer Communications Management (CCM) tools is wide ranging. Common use types include:
Structured monthly, quarterly or annual statements, invoices and other scheduled materials usually automatically produced in batches
Interactive applications that can be used by call centre agents, administrative staff and field staff alike in dealing with customers or in constructing collaborative documents
Self-Serve uses include on-demand applications where customers interact online via fixed or mobile devices to obtain status information, usage information and offers
A full 360⁰ view of all enterprise information, structured and unstructured, relevant to a particular situation, with access for use by call centre agents, administrative staff and field staff in dealing with customers and constructing rule-based, collaborative, binding documents.
immediate confirmation of a new client policy issued via SMS, mirroring back-to-back terms issued by email, further batch print to a client manager, with optional subsequent digital signature document exchange
the rapid composition of a letter with all relevant details and current terms and conditions, referencing past correspondence, side letters, emails and conversations that together form a complete memorandum of understanding.
The focus on smarter processes and integrated enabling technologies enables unbiased advice, convenience and service excellence. The provision of appropriate personalised communications greatly assists client trust and relationship management. The prize is reduced operational costs, optimal use of existing capacity and increased efficiencies - all assisting profit margins.
Explore the following videos on how icon can help you in your function: