🤩Madras University, Banking & Insurance - syllabus of I M.COM General. 2023-2024 Key points for; ✌️Meaning of the term 'customer service in the insurance sector' ✌️Explaining various service providers online ✌️Explaining the meaning of the term 'insurance agent' ✌️Who is Insurance customer representative ✌️Brief explanation about the key aspects of customer service ✌️Explaining how the quality of service plays an important role in the insurance sector ✌️Description of the communication of agents in insurance to customers. Useful for last-minute revision!👍

1. Customer Services in Insurance

2. Introduction
• For many businesses, customer service sets the leaders
apart from the laggards. Recent research by Accenture
revealed that companies that see customer service as a
value center rather than a cost center achieve 3.5 times
more revenue growth than those that uphold a more
traditional view of customer service.
• An interesting fact is that, 93% of customers are likely
to make repeat purchases with companies who offer
excellent customer service. (HubSpot Research)

3. What is customer service?
Customer service in insurance companies refers to the
range of activities and support provided to
policyholders and prospective customers to address
their needs, questions, concerns, and requests related
to insurance products and services. Effective customer
service is crucial in the insurance industry because it
helps build and maintain positive relationships with
policyholders, ensuring their satisfaction and
retention.

4. Service Providers
• Customer Relationship Management (CRM) Software
Salesforce, Microsoft Dynamics, and HubSpot
• Contact Centre Solutions
Genesys, Avaya, and Five9
• Live Chat and Chatbot Platforms
Zendesk Chat, Intercom, and Drift
• Customer Feedback and Survey Tools
SurveyMonkey, Qualtrics, and Medallia
• Email Marketing and Automation
Mailchimp and SendGrid

5. Insurance Agent
• Insurance Agents help insurance companies generate new
business by contacting potential customers and selling one
or more types of policies.
• They explain various plans to clients, guiding them in
selecting a policy that suits their needs best. Some
Insurance Agents work with one company, while others may
be independent brokers.
Insurancecustomerservice
representative
• An insurance customer service representative manages
insurance company inquiries, resolves service problems,
documents customer requests, and finalizes policy
adjustments.
• Additionally, they assist insurance agents and sales
representatives in resolving customer complaints. They
serve customers through inbound and outbound calls and
call transfers for service transactions.

6. Key aspects of CS in
Insurance
• Policy inquiries
• Claim assistance
• New policy sale
• Premium payments
• Complaint resolution
• Technological support
• Follow up and Feedback

7. Quality of Service
Great customer service means meeting customer expectations—from interacting with customers over
messaging channels because they expect convenience to investing in your knowledge base because
they expect to find answers on their own.
Channel Choice Customer-centricity Proactive support Speed Collaboration Personalization
Being able to help
a customer on
their preferred
support channel.
Highly performing
companies are
more likely to have
adopted
omnichannel
support
Businesses that want to
be customer-centric
need to commit to
putting people first.
Being customer-centric
also means hiring with
customer-focus in
mind—staff should see
the customer as the
hero of the story, not
a bother or problem
to solve.
Great customer
service often means
anticipating your
customers' needs
before they even
have to tell you.
Millennials and
Gen Z, in
particular, often
prefer channels
that lend
themselves to
immediate
responses:
Social media
In-app messaging
Social messaging
apps.
Resolving
customers' issues
often requires
agents to work
with each other
and other
departments and
customers expect
businesses to
collaborate on their
behalf.
In order to create a
connection, you
need to use data
to personalize the
customer
experience. The
truth is, most
customers today
expect a highly
customized
experience

8. Agent’s Communication
Insurance agent communication refers to the interactions, exchanges of
information, and dialogue between insurance agents and their clients or
prospective clients.
• Initial Consultations
• Explaining Policies
• Policy Recommendations
• Quoting and Pricing
• Policy Documentation
• Education and Awareness

9. Thank You