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Taking the Friction out of the Customer Experience in Insurance

Learn how we help Insurance companies, or view our specific solutions below.


First Notice of Loss

For many policyholders, the First Notice of Loss (FNOL) is also their first encounter with your company beyond transactional procedures. It’s a stressful time for them and an opportunity for you to demonstrate your commitment to exceptional customer service. How you handle this first moment of truth can increase customer satisfaction and build loyalty. TeleTech can steer you toward successful FNOL outcomes.

How you handle this first moment of truth can increase customer satisfaction and build loyalty

Our FNOL solutions include:

  • Programs that train and qualify your associates in first contact resolution so that they can accurately assess urgency and immediate damage, resolve problems in a timely fashion and deploy first responders in times of crisis.
  • Associate education programs to streamline loss handling.
  • Comprehensive recruiting, engagement and training programs to ensure high quality, empathetic service that makes policyholder welfare the top priority.
  • Supplemental 24/7 call handling by professionals trained to manage call escalation and fill after-hours and over-flow needs.
 

Claims Inquiry

Multiple channel, anytime, anywhere access and efficient, personalized service -- that’s what your policyholders want when they contact you about a claim. That’s what TeleTech solutions help you deliver while also lowering your operating costs.

Gain actionable insight around claims inquiries with TeleTech data analytics programs that track:

  • Average handle time
  • First call response
  • Schedule adherence
  • Staffing versus volume
  • Individual performance variations
  • Call drivers

Our solutions include:

  • Support for product information, event surges, general inquiries, and inquiries related to coverage verification, claims status and premiums.
  • Fully integrated omnichannel interaction with a 360-degree view of each customer’s interaction history.
  • Flexible deployment models available in a variety of formats including cloud-based, premise-based and hybrid solutions that integrate with your legacy systems.
  • Technology architecture design and systems integration to update existing infrastructure or customize an entirely new design.
 

Licensed Claims Adjustment

Fast, accurate evaluation, adjustment and resolution of a policyholder’s claim are critical to your profit margins and customer satisfaction ratings. TeleTech can help ensure licensed associates have the right skill sets and mindsets to handle these complex tasks and deliver a positive customer experience.

Recruitment assistance

Our assessment tools pre-screen candidates to find those most likely to deliver the quality of service your company and your policyholders expect. During the process, we take candidates through our MatchPoint pre-licensing assessment and structured behavioral interviews to identify those with superior sales acumen and a high propensity to pass requisite licensing.

Professional support staff

Our licensed associates are trained to provide extensive support for claims inquiries, billing issues, eligibility questions, welcome calls and more. They are professional advisors and advocates who specialize in:

  • Insurance marketing and sales
  • Back-office fulfillment and policy services
  • Web-based customer support including lead generation and follow-up and online chat
  • Dynamic messaging customer outreach regarding policy application status using outbound IVR or email
 

FEATURED CASE STUDY

An Innovative Partnership Increases Sales and Drives Customer Loyalty

Accelerate New Policyholder Acquisition

Insurance companies are facing the challenges of flat growth rates, fierce competition and changing distribution channels. A consistent, targeted acquisition program is the key to growing your business and driving success.

TeleTech offers solutions that address all facets of policyholder acquisition including:

  • Current state assessment and initial uplift forecast
  • Sales strengths and weaknesses analysis
  • Operational gap analysis by channel
  • Sales optimization
  • Prioritization plans

Partnering with TeleTech you can:

  • Support your captive and direct associates and acquire new customers with our innovative, award-winning programs that deliver a branded experience.
  • Improve your acquisition process by pre-qualifying enrollees and completing enrollments through a framework of meaningful interactions built on a foundation of true customer intelligence.

Results-based Solutions:

TeleTech delivers a consistent experience designed to succeed before the first contact is made. We helped our client:

Cross-sell 17% of overall written policies in one quarter using multi-line discount as a leverage

Achieve and sustain a goal of 3% or less policy rejection

Lowered cost to acquire members by 10%-20%

 

FEATURED CASE STUDY

Marketing analytics drive customer acquisition costs down 60%


Licensed Policyholder Renewal and Retention

Competition for your customers is intense and relentless. New market entrants threaten to lure them away with alternate options, discounts and incentives. Adding to your challenges are rising costs, slow premium growth and reduced investment income. How can you retain policyholders and protect your bottom line? By focusing on customer engagement.

TeleTech can help you drive engagement levels higher with our customer lifecycle strategy and analysis solutions. During the process, we:

  • Dissect each lifecycle interaction point between the customer and your company -- from awareness and consideration to purchase, onboarding, support and retention
  • Map the interactions within and across channels so you can see what works, what doesn’t and what opportunities exist to consolidate, streamline and improve the customer experience
  • Use predictive analytics to determine and effectively target policyholders up for renewal
  • Develop custom engagement scripts
  • Optimize offers based on lifetime value and price sensitivity
  • Retarget ads to reengage customers

Results-based Solutions:

By implementing both a customer retention associate training program and a process optimization plan we helped a major insurance carrier:

Increased insurance sales rate 25%

Achieved a 15%-25% conversion rate for insurance products

6,000 new insurance contracts were added each month

 

FEATURED CASE STUDY

An Innovative Partnership Increases Sales and Drives Customer Loyalty

Recruitment Process Outsourcing

Insurers worldwide are facing rising regulatory cost burdens. The pressure on capital requirements is intense and growing. One way to respond is recruitment process outsourcing (RPO). In today’s social, analytic and technology-based environment, a one-size-fits-all approach just won’t work. You need an RPO partner with programs tailored to the insurance industry and the experience to seek out engaged, skilled professionals. You need TeleTech.

We have the proven expertise to help you:

  • Improve the quality of your hires
  • Elevate the success rate of employee training programs
  • Provide hands-on simulated learning programs to raise team member confidence and aptitude.
  • Increase employee retention rates
  • Build a brand known for its superior customer service experience

TeleTech RPO solutions

Our MatchPoint talent acquisition methodologies:

  • Leverage the industry’s largest talent pool
  • Identify and deploy associates with cultural and language skills that align with your programs
  • Provide licensed associates where and when required
  • Deliver team members with higher productivity, stronger service skills and lower attrition rates
 

FEATURED WHITE PAPER

The Top Five Benefits of Recruitment Process Outsourcing in Financial Services


Learning and Knowledge Management

Insurance can be complicated and confusing. Your customers expect you to be the expert who can guide them and provide timely, relevant, professional advice. Are your employees well-versed and well-trained? Are they empowered to work from a foundation of solid knowledge and standardized procedures? TeleTech can make certain they are.

Our learning and knowledge management solutions:

  • Deploy customized training and development programs from front-line staff through director-level personnel across all disciplines.
  • Create client-centric employee learning content using simulated learning, social learning and video learning tools.
  • Deliver competency assessments to benchmark, qualify and measure personnel competency and growth.
  • Provide digital education services to develop internal employee-focused and external customer-focused content across multiple platforms including in-person, live video, on-demand, PC, mobile and online communities

Using analytics-based recruiting, social learning and knowledge management, TeleTech’s proven insurance-focused learning curriculum design can:

  • Decrease development time so you can ramp up projects more quickly.
  • Break down barriers between trainees and subject matter experts.
  • Improve associate performance and customer satisfaction metrics.
  • Create a learner-empowered, collaborative culture that permeates every level of your organization.
 

FEATURED CASE STUDY

Insurance company optimizes back-office operations by 20%

Contact Center Optimization

What kind of experience do your policyholders and prospects encounter at your contact center and other direct channels? Without a central strategy and guiding principles, it could be disjointed, frustrating and detrimental to your initiatives and your brand. IT investments that aren’t aligned with your business needs and contact center operations can also negatively impact customer satisfaction. TeleTech has the solution.

We have worked effectively with insurance companies to create contact strategies that deliver exceptional customer experience and support operational growth.

Through our holistic contact center optimization solution we:

  • Assess the current state and architect a future state roadmap to align with strategic priorities.
  • Design cohesive, integrated contact strategies around your processes, technology architecture, quality management and information management.
  • Analyze and learn from contact center metrics including internal KPIs, channel usage, member experience and satisfaction data, demographic data and technology architecture
  • Improve cross-sell rates.
  • Position your contact center to handle future growth.
 

FEATURED CASE STUDY

Less Growing Pains, More Gains