Today’s insurance provider looks to stand apart from their competition through the one thing they can truly define for themselves – customer service. Insurers also face the challenges of globalization, expansion of their service offerings and sales channels, and the need to stay technically current with their business processes and online presence.
How they interact with their customers becomes the lynchpin of customer retention and business success. The answer lies in the progression from a policy-centric model to one focused on the needs and expectations of the customer.
Insurance customers who have relied on Jacada’s Insurance process optimization and customer service improvement expertise:
Many insurance companies find themselves hamstrung by a combination of legacy applications, disparate lines of business and regulatory compliance requirements. Larger Insurance companies are divided by products or lines of business (P&C, Life, Financial etc.) and unfortunately are still run that way: separately. Consumers expect to deal with one company and one contact for all product inquiries, and do not want to be passed around from functional unit to functional unit.
Insurance Providers are facing challenges because:
- Legacy /green screen applications have been customized for specific insurers and unique needs, leading to standalone processes and redundant points-of-contact for CSRs
- Online channels have increased competition and created wary consumers who expect additional service and value in return for their investment
- Commoditization and deregulation have placed excellent customer service in high demand as the key differentiator
Jacada solutions optimize and improve the effectiveness of the customer service representative’s (CSR) interactions with their customer at all levels – billing, policy, claims, and all points in between. Our unified desktop and process optimization solutions quickly provide CSRs with a customer-centric view, rather than a policy-centric view, which allows the CSRs to understand the full value of the customer at-a- glance, including complete policy information and opportunities for cross- and up-selling.
Jacada Experience: Why Customers contact Insurance Companies
- Billing issues (high bill inquiry, automatic debit)
- Policy issues (adding, modifying, canceling a policy)
- Claims issues (starting a claim, investigating status of a claim)
Financial & Insurance Pains and Jacada’s solutions
Competition and Customer Retention – With customers becoming more comfortable using online channels, and with the advent of comparison shopping portals, customers are now “rate shopping”. Auto policies, as an example, have become commoditized and service is one of the only differentiators left for insurers. Holding on to current customers and staving off the competition are two key business drivers for P&C insurers today.
Jacada has proven success in improving the customer experience in the insurance industry. With our sophisticated pricing interface, Agents can offer the most optimal plan for the customer, all in an efficient user interface that allows the agent to serve the customer in a customer centric view instead of a policy-centric view. All different policy types and line of business functions can be seamlessly displayed to the agent in a unified interface. No more jumping around from system to system.
Compliance and Regulations - Insurers are often licensed to sell policies in several or all States in the US. Keeping up with compliance associated with varying state regulations is a non-trivial task. Relying on agent heuristics is risking non-compliance and does not adapt readily to changing regulations. By utilizing Jacada Agent Scripting, agents are guided through call processes ensuring adherence to current regulatory requirements. Full auditing and reporting is provided as part of overall compliance management, as every state has different regulations. Moreover, changing regulations can be rapidly reflected without requiring lengthy IT Cycles.
Legacy Applications – Many insurers are dealing with legacy or green-screen applications for policy and billing, which are two of their most important systems. Over the many years of expanding insurance product lines, regulatory compliance and continued development on homegrown, these large legacy systems have been highly customized to meet their own unique requirements. With so many business rules and process flows critical to the business embedded in these applications, moving away is no small feat.
Jacada, founded in 1990 with its award winning legacy integration products, has a rich heritage of integrating into the most complex of legacy systems. Best of all, the business rules and processes you’ve come to rely on in your legacy application are preserved in their entirety, and no changes to your legacy system is needed. That’s what we call a return on your investment!
Understanding and Quickly Fixing Billing Issues –A large percentage of calls coming to an Insurer’s contact center are related to Billing. Because of the separate nature of the current systems, there is no way to quickly see, let alone fix, billing issues within and between policies. Jacada’s ability to look and update in multiple systems enables the CSR to quickly resolve the problem and fix it.
Billing View – The Jacada solution delivers an intelligent, unified view of the customer’s account history right on the desktop via an automated, call-type specific interface. For example, our billing module allows for the display of multiple bills in a side-by-side comparison, with visual indications of billing anomalies or deviations from the norm. This visual representation allows the agent to quickly identify, diagnose and resolve (or explain) the issue.
The Customer Interaction Timelines enables your agent to see an immediate snapshot of the interaction history between your organization and your customer. The interaction history can span multiple insurance product lines and lines of business.
Seeing the interaction history and allowing the agent to conveniently scroll back through time will often allow the agent to understand the reason for the call and how best to resolve the situation. An interaction timeline is crucial in handling calls that failed First Call Resolution
Multiple Siloed Applications/ 360 View of a Customer – Insurers are struggling to move from a policy-centric model to a customer-centric model. With each line of business running their own set of applications, consolidate customer views are hard to come. As a result, Agents need to work with multiple applications from multiple departments, none of which are integrated. Agents need to perform “swivel chair” integration, resulting in significant “cut and paste” between applications and long call times. Jacada enables these organizations to have one agent desktop that brings all these systems into one unified application. In this manner, the agent sees a customer view consisting of all policies in the household, providing opportunities for better service and for upsell opportunities.
Quickly Verifying Coverage - It happens on every call: The agent must identify and verify the customer they are talking to. Flexibility is particularly important in the insurance industry as both law enforcement officers and third parties may need to verify coverage. Jacada WorkSpace Agent Desktop has sophisticated customer verification workflows pre-built, and they can be configured to your specific processes. Even better, different information can be displayed depending on the authorization level of the party requesting information.
Jacada Solutions for the Insurance industry
|Improve Customer Retention
Jacada WorkSpace Agent Desktop
|Provide consolidated Policy and Billing information
Jacada WorkSpace Agent Desktop
|Solve complex regulatory compliance issues
Jacada Agent Scripting
|Integrate disparate legacy systems
Jacada Integration and Automation
|Automate routine desktop processes
Jacada Integration and Automation