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Root cause analysis of customer service requests in the Insurance industry to radically cut costs while improving service levels

Root cause analysis of customer service requests in the Insurance industry to radically cut costs while improving service levels

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  • 1. Optimizing Self-service in Insurance 9th January 2013
  • 2. Eliminate before automating • Customers don’t want “service”. They want products that work first time; • 20-30% of contact centre work with customers is unnecessary, caused by different parts of the company itself; • Radically reducing “contacts per order” positions the company to provide service to other operators and achieve scale economies.Source: The Best Service is No Service
  • 3. Process for optimizing self-service Make it really easy to contact your company Challenge customer demand for service Deliver great Own the service actions across experiences Eliminate Create Be the company dumb engaging self- proactive contacts service Listen and actSource: The Best Service is No Service
  • 4. Steps to implement self-service 1. Introduce a “killer metric” e.g. Calls abandoned, Average Speed of Answer (monthly, daily), Grade of Service; 2. Re-classify customer contacts reasons 3. Change reporting 4. Assign executive responsibility 5. Change the management processSource: The Best Service is No Service
  • 5. Example: Insurance service contacts Reason % I’d like to make a claim 34.0 What’s happening? 20.4 Top contact categories I need to update the claim 6.6 40 Can you explain? 6.0 35 What’s the procedure? 5.5 30 “Can you How do I claim? 5.4 explain” 25 Can you help me with my claim? 2.7 represents 20 29% of 15 Are repairs authorised? 2.2 contact 10 Can I pay my excess? 2.1 reasons 5 Have you received? 2.0 0 I have received 1.6 Why haven’t you paid me? 1.6 What is my excess? 1.5 Who is going to be my repairer? 1.3Source: The Best Service is No Service Has Policy Holder lodged a claim? 1.2
  • 6. Example: Insurance contact outcomes Call resolution Reasons for Non-Resolution of Calls As a % of all calls (1159) 4080 3570 3060 25 64.5% of all non- 20 resolved work within50 management control 1540 1030 520 0 Claim awaits Claim awaits Action by Action by … Information not10 action by action by Claims entered member company Management0 No Yes Source: The Best Service is No Service
  • 7. Example: Insurance value matrix Simplify 12.9% Leverage 4.0% • • High value Can you explain? What’s my excess? • How do I claim? • Not happy with repairs • Has PH lodged a claim? • Am I liable? Company perspective • You haven’t paid me • Why was my claim enough rejected/declined? Eliminate 30.1% Automate/Migrate 53.0% • What’s happening? • I’d like to make a claim Low value • Are repairs authorised? • I need to update claim • Have you received? • What’s the procedure? • I’ve received letter/SMS • Can you help my claim? • Why haven’t you paid? • Can I pay my excess? • What do I need to send? • Can I have details for? Low value High value Client perspectiveSource: The Best Service is No Service