Insurance Next Practices: Accelerating New Business
Duration: 60 minutes
Insurers are facing an uncertain global economy, an evolving regulatory landscape, and a changing customer base, and so they must fine-tune their ability to attract and retain customers. As organizations look to address these issues, the common thread surrounding them is customer engagement.
Customer satisfaction and loyalty have become just as important to an insurer's bottom line as driving operational efficiencies. In fact, according to Forrester Research, even a modest improvement in customer experience will increase loyalty and can boost revenues by nearly $300 million for a $10 billion insurance organization. Whether in the call center, around claims processing or in new business interactions with an agent, it's particularly critical in the all-important area of generating new business.
To effectively compete in today's market, where there are new, non-traditional competitors, where consumers are comparing financial services providers to other digital businesses, and where agents seek to work with the carriers that are easiest to do business with, insurers must go beyond business-centric best practices to improve the customer experience – across all touch points – agent, direct marketing, online, mobile and call centers. Forward-thinking insurers are already implementing "Next Practices" technology solutions for claims processing, policy and records management, sales and customer service and invoice processing for more effective business process management.
Join Insurance Technology and Kofax, for a free, one hour webcast, featuring a case study from Farmers Insurance, to discover how insurers can use "Next Practices" technology and processes to:
Accelerate new business
Reduce underwriting and new policy processing costs
Leverage capture-enabled business processes to create a distinct competitive advantage in the drive for new business