Various aspects of outsourcing customer service to a call center bring tremendous advantages. Now, you might have heard or talked about the benefits of the BPO sector as a whole umpteen time. Now, there is one question that begs to be asked –
Do the same benefits of customer service outsourcing apply to the insurance sector?
That’s where we begin to talk about the benefits of outsourcing customer support to insurance BPO services. First, we will talk about the various benefits of customer service outsourcing and draw its relevance with the insurance sector.
Benefits of Hiring Insurance Call Center Services – So, let’s begin!
-
Cost-saving
Now, this is one of the biggest reasons why businesses outsource their inbound call center services to a BPO. Setting a new customer service process incurs high costs, which revolves around onboarding, training, quality analysis, hardware, and software setup, data security, compensations payable.
However, on the other hand, outsourcing the same customer service to inbound call center services in the USA, or other countries, would not set you back from all these costs. The reason behind this is the fact that the BPO companies already have the entire infrastructure set up. So, you don’t pay for individual expense heads, saving you expenses. You would need to pay the cost per agent or seat that you occupy.
Now, when it comes to customer service and support for the insurance sector, the same benefits apply here as well. Normally, the infrastructural cost for customer service is the same, irrespective of the industry. So, by outsourcing your inbound call center services to a BPO company, you can enjoy the benefits of lower cost of operational implementation.
-
Better Technology
Technology is the backbone of call center developments for quality enhancements. BPO companies implement technology to extract the best possible quality from the very first process to the last.
Firstly, manual talent acquisition of hiring agents, documentation, induction, etc., have been replaced by technology-powered onboarding. This onboarding process includes steps like shortlisting applicants, their documentation post selection, and induction.
Secondly, the training period for the onboarded agents was manual, where a quality analyst, HR, and the operational manager were involved in imparting the training. However, such training is no longer an industry standard. BPO companies now use automated training modules that provide product training, communication enhancements, etc.
Thirdly, the analytics department has also taken a huge leap. Earlier, agent quality and performance analysis depended on the feedback of the quality analysts. However, the agents’ performance and the effectiveness of the call center as a whole are now governed by KPI monitoring tools. Such KPI has multiple metrics that provide real-time data. This data provides reports on the agent’s performance and also highlights the scope for improvement.
Now, having mentioned the huge involvement of technology in the BPO sector, it now remains to see whether the insurance customer services implement the same for customer support or not. The situation here is since providing customer satisfaction is the primary objective for the business of all sectors, including insurance and banking call center services, the BPO companies implement the same technology to boost this aspect.
-
Sublime Customer Experience
This answer comes from what we have already talked about in the previous point. The sole goal of BPO companies is to add value to the customer service and support for every industry they serve. The same goes for the insurance BPO services too.
Inbound customer service outsourcing for the insurance sector thrives with an excellent customer experience. Since the product value for the insurance and finance sector is huge, customer retention has become a very sensitive topic.
Luckily, the BPO companies have what it takes to ensure maximum customer service and satisfaction rate. This, in turn, boosts customer retention to the very next level.
-
Scalability and Flexibility
The concept of multi-national existence for the BPO companies brings a huge prospect for all industries. Most of the best BPO companies in the market have a global presence. Now, this poses an impressive advantage for the insurance sector as well.
With a global presence, BPO companies are able to offer scalability. Each time an insurance business looks to target a newer location, the need for the hiring of a new BPO is no longer a necessity. The current BPO company can undertake the international process seamlessly while implementing multilingual capabilities.
Plus, upscaling or downscaling the number of agents, call flow, work timing (depending on the time zone) does not cost any extra investment with a BPO company. And this advantage extends to the insurance BPO services as well.
-
Multi-channel Customer Service
The age of digitization has prevailed in the insurance sector too. The potential customers for the insurance sector do not call agents at home to discuss the products anymore. Instead, they just drop in inquiry or make use of the social media communication handle or website and app platform to communicate with the brand.
This calls for a multi-channel existence for insurance companies. Now, this is possible for both in-house and outsourced. The former, however, will cost more money on the implementation of multiple communication platforms and separate agents to handle them. With a BPO company, such insurance customer service is expensive.
Summarizing the Note
The BPO companies have posed with huge advantages, and the same has been transferred to all the business sectors. The insurance sector also enjoys the same benefits for its customer service spree, and that’s what we have elaborated about here.
However, the benefits don’t end there. Especially related to the insurance and financial sector, the BPO companies also offer loads of other services, which do not fall under customer service and support.
A few of the services that some insurance BPO services companies offer are
- Credit underwriting,
- Collection services,
- Compliance management, etc.
All of these deserve to be talked about and discussed in detail before you think about hiring a BPO company for yourself. So, on a concluding note, the kind of golden touch the BPO companies add to the customer service operation is irreplaceable and can boost customer retention and revenue to the next level.