Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Cracking the Code on Insurance Company Customer Loyalty

1,974 views

Published on

It’s no longer simply about answering phones. As today’s insurance companies increasingly move toward direct-to-consumer distribution models, smart contact center leaders know the immense value they provide to their organization.

But how can they continually prove the contact center’s value to their company? And how can they use key voice of the customer data to unlock critical insights? More importantly, how can they use these insights to drive business success?

This SlideShare is a must-read for any insurance company focused on solving challenges facing insurers, improving the customer experience and making the contact center count.

Published in: Software
  • Create Your Own Odds Playing The Lottery ■■■ https://tinyurl.com/t2onem4
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • (Unlimited)....ACCESS WEBSITE Over for All Ebooks ................ accessibility Books Library allowing access to top content, including thousands of title from favorite author, plus the ability to read or download a huge selection of books for your pc or smartphone within minutes ......................................................................................................................... DOWNLOAD FULL PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full PDF EBOOK here { http://bit.ly/2m6jJ5M }
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • DOWNLOAD THIS BOOKS INTO AVAILABLE FORMAT (Unlimited) ......................................................................................................................... ......................................................................................................................... Download Full PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... Download Full EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ACCESS WEBSITE for All Ebooks ......................................................................................................................... Download Full PDF EBOOK here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... Download EPUB Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... Download doc Ebook here { https://tinyurl.com/yyxo9sk7 } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

Cracking the Code on Insurance Company Customer Loyalty

  1. 1. A Guide to Leveraging VoC Analytics for Insurance Companies CRACKING THE CODE ON CUSTOMER LOYALTY
  2. 2. THE CUSTOMER EXPERIENCE IS MORE IMPORTANT THAN EVER 89% of businesses are competing primarily on the basis of CUSTOMER EXPERIENCE (CX) 72% of businesses say improving the customer experience is their ABSOLUTE TOP PRIORITY5
  3. 3. INSTANT RESPONSE Anytime-anywhere access PERSONALIZED SERVICE Consultative relationships that anticipate their needs OMNICHANNEL EXPERIENCES Connecting how they want, every time FLEETING LOYALTY Switching allegiances with the swipe of a finger …AND CUSTOMER EXPECTATIONS KEEP RISING
  4. 4. IN THE INSURANCE INDUSTRY CONTACT CENTERS NOW OWN THE CX CUSTOMERS WILL LEAVE a provider based solely on a bad contact center experience2 1in4 INCREASE IN CUSTOMER RETENTION1% = INCREASE IN ANNUAL PREMIUMS4 $1M TWICE AS LIKELY TO RENEW Positive contact center experiences make customers their policy3 2X
  5. 5. BUT IT’S ABOUT MORE THAN CUSTOMER RETENTION “Insurers should, we believe, be looking at how to integrate contact centers within the overall mix of marketing, sales and service…how to optimize their role in a positive customer experience.” — ACCENTURE INCREASING CROSS-SELLING UPSELLING MAXIMIZING OPERATIONAL EFFICIENCY MITIGATING FRAUD RISK BUT IT’S ABOUT MORE THAN CUSTOMER RETENTION INCREASING REVENUE DRIVING GROWTH
  6. 6. THE PROBLEM MOST INSURANCE COMPANIES DON’T KNOW WHAT THEIR CUSTOMERS TRULY WANT. WHY? BECAUSE THEY DON’T LISTEN.
  7. 7. Graphic from CAL1047 retail infogra 2%The average organization analyzes just 2% of all customer interactions— mostly for random quality assurance checks and reactive investigations. REVENUE FIGURES SALES FIGURES INTERNAL FEEDBACK ONLY1IN4companies use customer feedback to solve critical problems ONLY1IN3businesses are using customer interaction analytics7 The rest of this invaluable intelligence sits on the shelf—not working for the organization. 98%
  8. 8. NEW CONTACT CENTER ANALYTICS TOOLS MAKE IT SIMPLE COST-EFFECTIVE TO UNLOCK THE VOICE OF YOUR CUSTOMERS CAPTURE TRANSFORM ANALYZE VISUALIZE EXTRACT 100% of Customer Interactions Structured Unstructured Data Predictive Prescriptive Analytics Engines Personalized Dashboards Intuitive Graphics Business Insights Drive Smart Decision-Making
  9. 9. MAKE THE BUSINESS CASE FOR VOC ANALYTICS Capture the full VoC: Hear what your customers are telling you. Unlock powerful insights: Extract the meaning—separate the signal from the noise. Become a customer-centric business: Elevate your CX—and solve critical business challenges.
  10. 10. VOC ANALYTICS IN ACTION Analyze every single customer interaction to instantly identify warning signs of customer defection—and target retention efforts accordingly. CHALLENGE: INCREASE CUSTOMER RETENTION SOLUTION: IDENTIFY YOUR BEST RETENTION TARGETS TOP LINE GROWTH AND BRAND LOYALTY1 INCREASING CROSS-SELLING MAXIMIZING CUSTOMERS WILL LEAVE a provider based solely on a bad contact center experience2 IMPROVING THE CUSTOMER EXPERIENCE at the claims intake and handling stage can have a BUT IT’S ABOUT MORE THAN CUSTOMER RETENTION MAJOR IMPACT ON 1in4 INCREASE IN CUSTOMER RETENTION1% = INCREASE IN ANNUAL PREMIUMS4 $1M TWICE AS LIKELY TO RENEW A positive contact center experience makes a customer their policy3 2X
  11. 11. VOC ANALYTICS IN ACTION Leverage analytics to uncover relevant customer issuers ASAP. CHALLENGE: REDUCE CUSTOMER FRICTION SOLUTION: IDENTIFY CUSTOMER PAIN POINTS IN NEAR-REAL TIME 4in5 businesses say they can’t locate CUSTOMER COMPLAINT “HOT SPOTS” in real time. THIS ISN’T JUST TRANSFORMING THE CONTACT CENTER — ANALYTICS INSIGHTS SOLVE CHALLENGES ACROSS THE BUSINESS REVENUE GROWTH.7 6-10% Companies implementing PERSONALIZATION TECHNOLOGIES like contact center analytics see CHALLENGE: SOLUTION: IDENTIFY CUSTOMER PAIN POINTS IN NEAR-REAL TIME Leverage analytics to uncover relevant customer issues ASAP. REDUCE CUSTOMER FRICTION The #1 most important factor in customer loyalty is reduction of customer effort. — Harvard Business Review CHALLENGE: SOLUTION: RECOGNIZE CUSTOMERS ANYWHERE IN THE JOURNEY Connect all contact channels and give agents a comprehensive view of the customer to keep the experience moving forward seamlessly.DELIVER TRUE OMNICHANNEL SERVICE 75% of consumers expect a consistent experience wherever they engage (e.g., website, social media, mobile, in person).6
  12. 12. VOC ANALYTICS IN ACTION Connect all contact channels and give agents a comprehensive view of the customer to keep the experience moving forward seamlessly. CHALLENGE: DELIVER TRUE OMNICHANNEL SERVICE SOLUTION: RECOGNIZE CUSTOMERS ANYWHERE IN THE JOURNEY just1in3 businesses say they can TRACK A CUSTOMER across all channels. 75% of consumers expect a consistent experience wherever they engage (e.g., website, social media, mobile, in person).6 89% of customers get frustrated because they need to repeat their issues to multiple representatives.7
  13. 13. VOC ANALYTICS IN ACTION Mine customer interaction data to understand how customers view your brand strengths and weaknesses—and how you measure up to the competition. CHALLENGE: STAND OUT FROM THE COMPETITION SOLUTION: TARGET YOUR COMPETITORS’ WEAKNESSES—PLAY TO YOUR STRENGTHS CHALLENGE: SOLUTION: RECOGNIZE CUSTOMERS ANYWHERE IN THE JOURNEY Connect all contact channels and give agents a comprehensive view of the customer to keep the experience moving forward seamlessly.DELIVER TRUE OMNICHANNEL SERVICE CHALLENGE: SOLUTION: TARGET YOUR COMPETITORS’ WEAKNESSES—PLAY TO YOUR STRENGTHS Mine customer interaction data to understand how customers view your brand strengths and weaknesses—and how you measure up to the competition.STAND OUT FROM THE COMPETITION 62% of companies view customer experience delivered by the contact centers as a COMPETITIVE DIFFERENTIATOR.8 75% of consumers expect a consistent experience wherever they engage (e.g., website, social media, mobile, in person).6 89% of customers get frustrated because they need to repeat their issues to multiple representatives.7 CHALLENGE: SOLUTION: TRACK MARKETING RESULTS IN NEAR-REAL TIME Use the voice of the customer to analyze and refine marketing campaigns in real time. IMPROVE MARKETING ROI 64% of marketers cite LACK OF RESOURCES as their top
  14. 14. VOC ANALYTICS IN ACTION Use the voice of the customer to analyze and refine marketing campaigns in real time. CHALLENGE: IMPROVE MARKETING ROI SOLUTION: TRACK MARKETING RESULTS IN NEAR-REAL TIME CHALLENGE: SOLUTION: TARGET YOUR COMPETITORS’ WEAKNESSES—PLAY TO YOUR STRENGTHS Mine customer interaction data to understand how customers view your brand strengths and weaknesses—and how you measure up to the competition.STAND OUT FROM THE COMPETITION 62% of companies view customer experience delivered by the contact centers as a COMPETITIVE DIFFERENTIATOR.8 89% of customers get frustrated because they need to repeat their issues to multiple representatives.7 CHALLENGE: SOLUTION: TRACK MARKETING RESULTS IN NEAR-REAL TIME Use the voice of the customer to analyze and refine marketing campaigns in real time. IMPROVE MARKETING ROI 64% of marketers cite LACK OF RESOURCES as their top barrier to better omnichannel marketing.9 CHALLENGE: SOLUTION: MONITOR ADHERENCE AND RAPIDLY RESPOND TO SECURITY INCIDENTS Monitor agent language to increase adherence and improve compliance. Rapidly review multi-channel interactions as part of forensic investigation into suspected or confirmed fraud or data breach. ENSURE COMPLIANCE
  15. 15. VOC ANALYTICS IN ACTION Empower agents with omnichannel customer insights. Give them the real-time feedback they crave. Gain trust with objective, transparent evaluations. Inspire improvement with smart benchmarking, gamification and personalized training coaching. CHALLENGE: INCREASE AGENT ENGAGEMENT IMPROVE PERFORMANCE SOLUTION: GIVE AGENTS SMART, ANALYTICS-DRIVEN TOOLS just1in3 businesses say they can TRACK A CUSTOMER across all channels. 75% of consumers expect a consistent experience wherever they engage (e.g., website, social media, mobile, in person).6 89% of customers get frustrated because they need to repeat their issues to multiple representatives.7
  16. 16. TUNE IN. STEP UP. MOVE FORWARD WITH AGILITY. HEAR TO WHAT YOUR CUSTOMERS ARE SAYING. ELEVATE YOUR CUSTOMER-CENTRIC STRATEGIES. ANTICIPATE DEMAND. BEAT DISRUPTION. DRIVE GROWTH.
  17. 17. Visit Calabrio.com to see how Calabrio’s comprehensive contact center suite is revolutionizing the way organizations engage their customers. READY TO SEE WHAT INTELLIGENT VOC ANALYTICS CAN DO FOR YOUR INSURANCE COMPANY?

×