Insurance Property and Casualty – Enhance the Caller Experience and Increase Policyholder Loyalty with Voice Self-Service
By Donna Fluss
The property and casualty insurance industry is in transition. The traditional business model, where local insurance brokers and agents were the middlemen between customers and insurers, is being challenged by the new breed of insurance providers who sell directly to clients through the Web, direct mail, television and radio campaigns. Providers of property and casualty insurance sell risk coverage policies where the ideal situation for both parties is for customers never to file a claim. Examples of this type of policy are auto, property, marine, flood, commercial liability and personal umbrella. But when customers need to speak to an insurance company or agent, it’s often because of an accident or tragedy where the personal touch is essential. Property and casualty insurance is a “low touch” business where economies of scale in back-office operations have proven to be elusive – not for lack of interest, but for lack of opportunity. Executives and operations managers welcome innovation that helps them change their cost dynamics while enabling them to provide the personal and outstanding service that is expected when people contact them in the midst of serious situations or tragedy. Call routing, inbound and outbound voice self- service, and analytics have proven instrumental in automating low-value activities and qualifying callers to ensure that they get service as quickly as possible when it matters most.