People are taught that when they get into a car accident the first thing they need to do is call their insurance agent. What your FNOL call center and adjusters do when customers call to report an accident will help make the entire claims process easy or just another part of their new nightmare.
Putting People First
When a person calls to report an accident, the call center agent shouldn’t just open their computer screen and start asking questions so they can fill out the necessary forms. The first question anyone asks when they hear someone has been in an accident is “Are you all right?”
Before an agent event touches a form, they should ask the customer if they are all right and tell them how sorry they are that this has happened to the individual. Put the person first before the claim and this will help your company make a human connection with the customer.
Immediately Send Important Details
In addition to filling out the necessary paperwork, the FNOL specialist needs to let the customer know everything that will happen in the next several hours, days, and weeks. Let them know if they qualify for a rental car, explain how the car will be inspected, let them know how quickly the claim will be processed, and when the customer can expect funds for repairs or to pay off a loan if the car is totaled.
After completing the FNOL process, the agent needs to send a written copy of this information to the customer. The person will have many things going on in their heads at that moment and may still be in shock. They may forget what the call center agent said five minutes after they hang up the phone.
Sending a copy of a list of next steps and customer responsibilities will help increase customer satisfaction and make sure the customer does what they need to do to complete a claim. Sending it in multiple formats, such as text and email, in addition to updating their online insurance information, will offer an added value that your customers will appreciate as they try to get their lives back to normal.
Be Proactive
The FNOL specialist, adjuster and anyone else who handles the claim should be proactive throughout the process. Contact the customer via phone or email on a regular basis to offer updates and to check on how the person is doing. This will reduce the customer’s stress and help them understand what is going on with their claim without having to log on to the company website or call the insurance agent.
Offering value added services doesn’t have to be time consuming or expensive. Showing that your company cares about the individual, being proactive with claim updates and offering next step information across multiple channels are small improvements that will offer your company big rewards.
And to learn more ways your company can improve your FNOL process, contact the experts at Actec.
Category: First Notice of Loss
5 Trends in FNOL Processes
There have been recent changes in five main areas of FNOL management. These five trends are in the area of pricing, technology, customer behavior, regulation and staffing practices. These five trends in FNOL processes will require companies to adapt if they want to guarantee continued success.
Pricing
Companies need to balance reducing expenses against ROI of potential investments. This has become important due to the need for FNOL processes to be flexible, available on multiple channels, and responsive against the need to maintain profit margins in an environment where premium growth is slower.
Technology
Companies continue to seek better data analysis tools and predictive modeling in order to improve underwriting practices and detect fraud. Better technology is also important to reduce claims cost and increase consistency while providing access on more channels.
Customer Behavior
Connectivity is important to meet customer demand of better pricing, better customer service and increased accessibility. Companies need to be able to understand their customers better in order to enhance the FNOL experience, which is often a key touch point with customers.
Regulation
Since regulatory intervention and scrutiny is on the rise, companies need to increase key aspects of the FNOL Process:
- Greater transparency
- Improved reporting capabilities
- Streamlining compliance processes
By being proactive when addressing multiple regulations, companies can eliminate the risk of fines and penalties due to compliance issues.
Staffing Practices
The aging workforce is leaving behind a skills gap that is difficult to fill. Most companies don’t have plans in place to meet their future staffing needs nor do they understand the intricacies of recruiting the millennial workforce. Businesses have to start creating recruiting policies today to ensure they have a skilled workforce that will be able to handle FNOL processes quickly and efficiently.
With the changes in pricing, technology, customer behavior, regulation and staffing practices, many businesses are finding it difficult to maintain an efficient FNOL process. Contact Actec today to learn how they can help you manage this vital customer touch point.
The Five Critical Steps of Managing the FNOL Process
When a customer submits a claim, it is important for you to remain in control of the FNOL process. This will help you in the later stages, such as negotiation and settlement. Here are five mission-critical steps of the first notice of loss process that are essential for maintaining control of a claim. When the process begins, it’s vital to cultivate a positive relationship with the customer. This happens by:
- Having good listening skills
- Knowing the details of the file
- Understanding how to develop the claim
- Considering all relevant information factors
- Determining how to handle the initial investigation
A positive relationship will help your company work through the process with the claimant. This will prevent the claim from stalling because the customer resists part of the process or holds the company hostage during the negotiation process.
Managing the FNOL process puts your company in control but still creates a positive experience for the customer. Not all claims will progress smoothly, but utilizing strategies that manage first notice of loss will help you work with your customers if the process gets rough.
If you are looking for ways to put your company in control with FNOL management, contact the experts at Actec.
5 FNOL Terms You Need to Understand
As with any industry, insurance is filled with abbreviations. The abbreviations regarding FNOL call centers are important for businesses to understand if they want to improve customer satisfaction and handle claims efficiently. Here are five terms you need to understand for your FNOL Call Center.
ASA
ASA stands for Average Speed to Answer. This is the amount of time it takes for your intake specialists to respond to inbound calls. If your ASA is too long you may have issues with ATA.
ATA
ATA is an abbreviation for Average Time Abandonment. If a customer is on hold too long they will disconnect the call. If a customer hangs up because they receive a recorded message, the phone rings for a long time without being answered or the individual is left on hold too long you will have to deal with dissatisfied customers. Two reasons for increased customer disconnects can be ATB and CHT.
ATB
ATB or All Trunks Busy is a term used when all lines are engaged so the call center can’t receive additional inbound calls or make outbound calls. ATB often occurs when a company doesn’t have the right infrastructure to handle call volume.
CHT
Call Handling Time (CHT) is the total time it takes for a call center representative to handle a claim, including time on the phone with the customer and time after the call to complete the necessary paperwork. If an intake specialist takes too much time handling one claim, the ASA is increased, which affects the companies ATA. EDI may also impact CHT, thereby decreasing the quality of the entire intake process.
EDI
EDI is the Electronic Data Interchange used by all claim management parties. The more efficient a company’s EDI is, the faster a call center can complete a FNOL intake form. Efficient EDI also reduces penalties, fines and customer dissatisfaction.
Understanding these five terms and managing their impact on your call center will create an efficient FNOL intake process. Some companies have a handle on these five terms, while others need to find ways to improve their FNOL management. Contact the experts at Actec for more information about our proprietary intake solution, and how you can use it to improve workflow and improve customer satisfaction
FNOL Predictions 2016
As insurance and technology evolve, the FNOL workflow process is undergoing important changes. We expect a number of shifts to take root in 2016, including:
- Consumer Engagement Key Metric: Consumer engagement will become a key metric for both buying criterion and performance metrics. FNOL call centers will need to engage customers and ensure satisfaction in addition to filing claims.
- Processes that Can Scale: As companies try to lower costs and increase effectiveness they search for processes that can scale. Software that can scale the FNOL process will be a competitive advantage.
- Quality Data For Processing: As wearable technology and the Internet of Things improves data collection, it will also allow companies to supply more information for FNOL processing to reduce the time it takes to complete documentation.
- All in One Place Platforms: The availability of all in one place platforms for FNOL processing will increase efficiency while decreasing the need for multiple systems.
- Sophisticated Data Modeling: Improved analytics and data modeling will help companies refine the FNOL process.
2016 will see insurance technology improvements that will effect FNOL process management and enhance customer engagement. Better data, analysis and modeling will help companies determine how to improve FNOL process management. All in one place platforms and software that can scale will help refine the management flow of claims by increase up to date information and decrease input errors. With better data and faster processing, companies will be able to hit customer engagement goals and ensure satisfaction.
Contact the experts at Actec to learn how our proprietary solution can help you increase customer engagement with scalable solutions and improved data management.
Article Exceeds 10,000 Views: What Is First Notice of Loss?
First Notice of Loss (FNOL) is a crucial component of operating an insurance business, though few fully understand and leverage it. So it’s not surprising that an article on this topic written by Actec Systems has recently exceeded 10,000 views. A synopsis of this popular article follows:
Many are unaware that when they first contact their insurance provider to report theft, loss or damage that they are actually contacting a first notice of loss (FNOL) call center. FNOL call centers typically operate 365 days a year, round the clock, ensuring policyholders can easily report a loss, and further, that the respective insurance companies receive timely and accurate claim loss data.
First notice of loss operations are sometimes staffed internally, but more frequently these days, the operations are outsourced to a specialist. As one can imagine with any 24/7 by 365 day a year operation, staffing, training and accurate claims intake are challenging for any organization. There are different types of vendors which offer solutions for FNOL, some offer software, others offer a comprehensive call center based on a proprietary application, and still others customize their call center operation to accommodate any platform. These are platform agnostic vendors who claim to work with insurance companies’ existing platforms.
Why is first notice of loss important to both policyholders and insurance companies? Obviously the key function of a notice of loss is to alert the responsible insurance entity as to the theft or destruction of something which is covered under the terms of the policy. In some cases, notification will precede the filing of a formal claim. In certain circumstances, the insured may contact a FNOL representative and follow specific rules of engagement relating to the policy parameters. This happens often when a provider underwrites different types of insurance coverage and uses a specific format for each type of policy offered to consumers. Herein lies the challenge for many insurers, and the frustration for many of those insured, as policy specifics dictate both the necessary information intake, and the resulting claims processing process. In many cases, speed is of the essence. For example, theft relating to jewelry would require very specific loss notification, and further, rapid notification to the authorities and insurance provider can help result in improved odds of recovery.
First notice of loss has been undergoing a metamorphosis offering insurers an opportunity to demonstrate their relative professionalism at a time where their policyholders are likely upset and under stress. This is an optimum time, regardless of whether the call center is in house or outsourced to demonstrate a customer centric attitude increasing customer satisfaction and loyalty. First notice of loss (FNOL) is a critical component of client satisfaction and customer retention.
Actec specializes in first notice of loss, claim management, and absence reporting, and is a recognized expert in the industry. You can read the full article here. For more information on FNOL, absence reporting, and claim intake systems, call Actec at 1.800.862.2832.
Are FNOL Apps The Next Big Thing?
The saying “there’s an app for that” doesn’t apply to First Notice of Loss (FNOL). At least not yet. As insurance companies rush to maintain competitive advantage with top of the line service offerings, an FNOL app may be the next big thing. But is it what customers want?
People Don’t Think About Insurance
People don’t think about their insurance. Then, when something does happen, the last thing a person thinks about is contacting their insurance agent. FNOL reports are often delayed because the insured didn’t consider reporting the loss while in the middle of the situation.
An App May Fix That
People do love their smart phones and are always looking for new apps to make their lives easier. If they had an FNOL reporting app on their phone they may consider filing their claim sooner. It would also benefit companies because they wouldn’t have to have 24/7 call centers staffed with agents who specialize in FNOL intake.
Do Customers Want It?
Would customers want to use an FNOL app or does it just sound good to insurance companies? Older customers still feel more comfortable talking to people on the phone when handling important matters such as First Notice of Loss. Even millennials, who love DIY portals on websites, still prefer to call their insurance agents in certain situations, such as discussing their policy, payment issues and filing claims.
So for now an FNOL app doesn’t seem like a good solution to intake claim management. It is still important to have an effective FNOL intake strategy in place, which includes a 24/7 365 call center.
Contact the experts at Actec for more information about our proprietary intake solution, and how you can use it to improve workflow and improve customer satisfaction.
FNOL Workflow Enhanced With Tailored Solutions
Costs related to data errors and processing inefficiencies are the most expensive elements of the FNOL process. If you can create a customized workflow with tailored software and intake management solutions, your company can improve return on investment and increase customer satisfaction.
Multiple Systems Involved with FNOL
First notice of loss reporting combines both customer relationship management systems and content management systems. Information updates aren’t always available in real time, which can impact the entire claims process. It can also lead to expensive situations, such as:
- Delayed status reports
- Processing delays due to verification from multiple systems
- Data entry errors due to a lag in system updates
- Processing mismanagement due to misfiling of claims
Intuitive and Customized Workflow
In order to increase efficiency, companies need a customized workflow that helps guide agents and documents through a customized system for specific business needs. This can help:
- Guide agents through the correct process
- Route claims through proper handling systems
- Track activity to offer status updates
- Offer a 24/7 touchpoint for the customer
A one size fits all software solution may not be right for your business. Contact the experts at Actec for more information about our proprietary intake solution.
FNOL: Advanced Listening Strategies
Making a connection over the phone is difficult in the best situations. Customer service and sales professionals have to engender trust and form a relationship with guarded, stressed or hostile individuals. Advanced listening strategies can help you make First Notice of Loss situations a better experience for everyone.
More Than Active Listening
Active listening skills are an important part of customer related positions. However, in situations such as FNOL calls, basic listening skills aren’t enough. Repeating what the customer says verbatim may show you were listening, but doesn’t show you comprehend the situation.
Advanced active listening skills include:
- Listening for verbal cues
- Repeating what the customer said in your own words
- Confirm that you heard the customer correctly
- Ask relevant questions to close the conversation
Listening for verbal cues will help you understand key pieces of information, even if they don’t say everything you need out loud to complete your forms. Jotting down information will help you rephrase what the customer said and form the relevant questions you will ask.
Confirming what you heard after you rephrase what the customer told you is important. Many people will point out if you misheard a point, however in stressful situations such as a FNOL call, customers may not catch discrepancies.
Therefore, it is important to ask them directly if you understood what they were trying to say. This will help ensure you complete the forms correctly and will avoid issues with the claim later in the process.
Asking relevant questions will show your experience and reduce the customer’s stress level. Nothing makes people more frustrated than being asked pointless questions they may have already answered. Only ask what is necessary to complete the form and then move on to what the customer has to do next to complete the FNOL process.
Using these techniques will help engender trust early in the conversation and make the FNOL call successful. You will be able to complete the forms accurately and you will improve the customer experience. For more claims handling and first notice of loss expert tips, contact the experts at Actec today.
FNOL Strategies: Top 5 FNOL Blog Posts
First Notice of Loss (FNOL) call centers are more than just a method for your customers to file a claim. They are a way to differentiate your company from your competitors and improve customer satisfaction. Whether you handle FNOL reporting in-house or outsource your call center process to a third party, it is important to understand FNOL strategies.
Our five most popular blog posts will help you comprehend vital aspects of FNOL, including:
- The significance of workflow management
- The software, hardware and human resources necessary for FNOL management
- How to balance business needs with state requirements and customer demands with FNOL reporting
- How a multi-channel FNOL strategy is important for customer satisfaction
- The value of creating a one-call solution for FNOL reporting
The top five FNOL blog posts of 2015 are:
- Top 6 Features Of A Workflow Management System
- FNOL Strategies: Efficient Data Entry Strategy For Claim Management
- Enhance Customer Experience With First Notice of Loss Solutions
- Is Your FNOL Processing Ready For Gen Y?
- Improve FNOL One Call Intake Management
Reducing costs while increasing customer satisfaction will improve the ROI of FNOL management. Third party call centers are an effective alternative for in-house FNOL reporting. Third party companies have the up to date solutions and trained staff to handle a variety of FNOL reporting services and can offer professional solutions for reasonable rates.
To help your company understand the intricacies of customer intake solutions, claims handling and first notice of loss, contact the experts at Actec today.