Insurance is a must, with most people in the United States holding at least one insurance policy. We insure our cars, homes, valuables, pets, our health, and even our lives. Insurance is an industry notorious for high turnover. Common wisdom has customers shopping for better rates when their annual renewal hits and recent price increases have made it more likely that people will shop around. In 2024, 42% of auto insurance customers shopped for a better deal on their policy – with similar rates seen in shopping for homeowners’ insurance.
Here’s how a great call center experience can help stop the churn.
Being Available to Policyholders Matters.
There’s no such thing as a good hold time. According to 2012 research from Velaro, 32.3% of customers believe they should never have to wait on hold – with 90% of customers hanging up at the 5-minute mark. In a time-critical industry like insurance, where every second counts, being available to policyholders whenever disaster strikes is essential. To keep customers satisfied and increase retention, insurance companies need to offer near-instant availability on the customer’s channel of choice.
Reach Customers the Way They Want to Be Reached.
Today’s call center technology has evolved beyond the standard visual of a group of phone operators in a single room. Now call centers offer omnichannel support, allowing a diverse group of customers to connect with you via email, chat, social media, and self-service panels. And with real-time multi-lingual support, insurance companies can support one in five US residents who speak a language other than English at home. With timeliness being critical to success, omnichannel is a great way to support your customers – fast.
Use CRM Tools to Provide Tailored Customer Interactions.
Anticipate churn or policy shopping by connecting your CRM and sales platforms. By understanding when a customer needs your support, you can reach out to them with tailored deals or offers, building loyalty and longevity. Additionally, by being able to see a customer’s full set of interactions with your company, you can check in or follow up on any claims, current policies, or potential policies or bundles your customer might benefit from.
Easily Scale Up in Times of Need.
Any insurance company is familiar with major events that set the phones ringing – for example, natural disasters or legislative changes. When events like these occur, it’s vital to be able to quickly scale up your support to meet a dramatic increase in customer contacts. When you’re working with a robust contact center platform that offers trained agent support, you can quickly add to your pool of active agents, ensuring that customers in need aren’t left hanging on the line.
Ready to Meet the Needs of Today’s Insurance Customers? Talk to ACD!
Stop the churn. Explore ACD’s all-in-one, integrated customer contact platform – which is supported by a robust pool of trained, experienced agents. We can help your insurance company meet customer needs, reach out to customers at risk of churning, approach customers about new and relevant policies, and follow up with customers who have made a claim or who have a claim in process. Whatever your needs, we can tailor your integration to the specific requirements of your organization. Get in touch today.
