Category: FNOL Technology

4 Benefits of Nearshore Call Centers

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July 27th, 2020

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Many businesses are well aware of the benefits of a call center. For certain industries such as insurance, having a call center is a necessity to remain in business. Accidents rarely happen during business hours, and customers need to be able to file a claim when the loss occurs—not the following day when their insurance provider’s office opens. However, selecting the right kind of call center is critical to maintaining the company’s image as well as keeping customers happy.

Many people associate call centers with countries across the world, which is typically the case for offshore call centers. They may be based out of India, the Philippines, or many other international countries. Conversely, nearshore call centers are located in a similar geographic location to the business that hires them. Having a nearshore call center can reap the following benefits for businesses:

1.      Familiarity with culture. For businesses in the US, nearshore often means Mexico, Canada, or nearby islands. One of the biggest benefits to this is that these locations often have cultural overlap with US customers. This eliminates the struggles between cultural barriers, which can facilitate better service.

2.      Similar business hours. Nearshore call centers can offer extended business hours while still being reachable during a normal working day. For example, if a nearshore call center is three hours off from the business’ location, executives from both sides can find overlapping working hours to discuss business concerns.

3.      Improved proximity. When a company needs to conduct training or hold business meetings at a nearshore call center, executives can travel to the call center with minimal hassle. While nearshore call centers are a short flight away, many offshore call centers require lengthy flights that consume several days. Shorter flights and similar time zones also mean less jet lag for these business trips.

4.      Improved customer satisfaction. Many nearshore call centers only hire 100% bilingual employees to ensure there is no language barrier. However, given that a significant portion of the US speaks Spanish, having a bilingual nearshore call center based out of Mexico can help serve a wider range of customers. Having similar cultures helps in this area as well, as call center employees can better empathize with customers during a crisis.

Investing in a nearshore call center allows businesses to focus on their core skills rather than fielding customer phone calls. By freeing up that time, businesses can concentrate their attention and efforts on growing their company and improving their bottom line. Contact the experts at Actec to learn more about our nearshore call center solutions.

How Is COVID-19 Affecting Customer Satisfaction?

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July 20th, 2020

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Many insurance providers are experiencing a crisis of trust among their customers. In an industry where trust and competency are everything, many insurers are coming up short on both in their customers’ eyes. With massive business interruptions and even more denied claims due to pandemic clauses, COVID-19 has left many businesses and their insurance providers without many options.

It’s no surprise that the customer’s experience is now the top priority for many insurance providers. Even before COVID-19, many industry experts reported that customer satisfaction would be a key factor in growth opportunities. With the pandemic putting a microscope on customer pain points, insurance providers can improve their customers’ overall experience in the following ways:

  1. Embrace digital interactions. Insurance providers already know they need an online portal and a mobile app at a minimum in their efforts to go digital. However, many have failed to keep pace with customer expectations, which haven’t changed following the pandemic. Customers want to be able to access their bills, policy details, and more whenever and wherever they may be while still having the option to speak with a representative about issues that are more complex. Insurance carriers need to ensure the service they provide is consistent regardless of how the insured initiates contact.
  2. Simplify the experience. Insureds are more stressed than ever due to COVID-19. Whether they are using a mobile app or browsing their insurance provider’s website, they want to be able to find what they’re looking for with ease. Their tolerance for confusing apps and websites is at an all-time low. If an insurance provider’s website isn’t intuitive, it will only aggravate customers during an already hectic time.
  3. Provide customizable products and solutions. Insureds are trying to strike the balance between keeping their premiums as low as possible without leaving themselves vulnerable to risk. A potential solution growing in popularity is limiting coverage to only when insureds need it. This reduces their overall premiums without increasing their risk profile. For example, a business or homeowner near the coast needs flood insurance due to hurricanes. However, hurricane season only spans from May through November. Some insured may prefer to only enable coverage during the months that the risk of flooding is high to keep their premiums down.
  4. Be available. Covered incidents don’t usually do the insured the favor of occurring during regular business hours. Similarly, many insureds have urgent questions that may not be able to wait until normal office hours. Providing a chat or text service that allows insureds to get answers to their questions regarding their claim status, coverage, and more can improve the customer experience overall.

Actec understands the challenges insurance providers are experiencing in the wake of COVID-19. That’s why we strive to provide top-notch solutions to help you meet your customer’s needs. Contact us to learn more about implementing text and chat support to improve customer satisfaction.

How to Offer Superior First Notice of Loss Support

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July 6th, 2020

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When a customer first contacts their insurance provider to report an accident, theft, or other covered incident, they’re initiating first notice of loss (FNOL). Most insurance carriers know that FNOL is critical to securing customer satisfaction. However, insureds are often upset when they begin FNOL as they’ve just experienced a loss so their tolerance for mistakes or delays is low. Inefficient processes, clunky communication, and data intake errors will further upset them as well as lower customer approval and erode loyalty.

Thankfully, insurance providers can take the following steps to improve FNOL and customer satisfaction:

  1. Identify workflow bottlenecks. One of the most common customer complaints regarding their insurance company is a delay in claims processing. Whether the adjuster is missing critical information, the claim requires a specialized adjuster, or there are documentation errors, delays can derail customer satisfaction. Finding common headache sources during FNOL and rectifying them can keep customers happy.
  2. Provide options for FNOL. When an insured needs to report a loss, they don’t want to jump through several hoops to get to the right person. Providing several options for reporting FNOL allows insured customers to initiate FNOL when, where, and how they prefer. This means offering intake options via telephone, a web portal, text messaging, etc.
  3. Engage with customers digitally. Even with optimized claim intake processes, insurers may require more information than they captured during FNOL. Sending missing information alerts via text messaging allows customers to provide the information quickly and keeps the claim on track. Digital channels of communication such as chat support improve transparency as well as customers can receive updates on their claim status, settlements, and more.

Implementing chat and text functionality is of particular benefit to insurance carriers. It creates a new channel for claims intake while providing superior service to insured customers experiencing a loss. Chat support can also answer common questions regarding claims, which allows insurance adjusters to focus on processing claims faster.

If your FNOL process is creating more headaches than its solving, Actec can help. Contact us to learn more about enhancing FNOL, implementing new communication channels, and improving claims management.

Are Your Call Centers Improving FNOL or Hurting Customer Retention?

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June 15th, 2020

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It’s a well-known industry fact that first notice of loss (FNOL) is the single greatest opportunity to secure customer satisfaction during a claim. It’s also often a distressing time for the customer as they are reporting a loss. With emotions running high, a lackluster or poor FNOL experience can stain a customer’s perception of and loyalty to his or her insurance provider.

Uncontrollable elements also affect FNOL, such as the time the loss occurs. Accidents, thefts, and other damages don’t always occur during normal business hours. In order to offer customers around the clock service, many insurers invest in call centers. This gives them the ability to offer assistance to insureds whenever their loss may occur as well as handle a large volume of calls to prevent delays. However, many of these call centers operate through offshore channels. While offshore call centers typically come with a lower price tag, they also include several hassles that can damage customer satisfaction and retention.

The Benefits of Nearshore Call Centers

Nearshore call centers share many similarities with offshore options with a few key differences. Nearshore call centers still offer 24/7 service all year round, but the intake agents work in much closer proximity to the insurer than many traditional offshore entities. Because these agents are in a similar or closer time zone, communication with the insurer is much easier and faster. This expedites the claims process, allowing insurers to begin the next steps on a shorter timeline. It’s also easier to guarantee the quality of customer service.

Actec’s Nearshore Contact Center Solution

Customers need to have the ability to file claims whenever they occur. Following a loss, many customers will only have access to their phones. This likely means they will initiate FNOL through their insurer’s call center. Actec understands customers expect a hassle-free experience and having a high-quality call center contributes enormously toward that outcome.

Actec’s nearshore call center operates 100% through US-based phone systems and any recorded data remains within the US. In addition to adhering to stringent IT standards, our nearshore facilities are also PCI compliant. We strive to provide secure, high-quality call center services that offer scalability to keep pace with your company as it grows. To learn more about improving the call center experience at an affordable rate, contact the experts at Actec.

How to Leverage Data to Improve Claims Processing

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April 20th, 2020

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Insurance companies don’t often have frequent communication with their clients until a claim arises. While most insureds are fine with this limited interaction, how their insurance providers handle claims is the single most meaningful and telling interaction they have. If an insurance company mishandles the claim or fails to bring it to a satisfactory resolution quickly, they run the risk of losing a customer.

What Claimants Want

High-quality claims processes have three things in common: they’re fast, they’re efficient, and they’re transparent. Customers are no longer willing to accept vague or murky answers regarding where their claim is in the process. They also expect an error-free claim to receive their settlement quickly. Delays, mistakes, or confusion all cause insureds to reconsider their insurance provider.

Better data and automation can help insurance providers streamline their claims processes. The following are some of the ways insurance providers can utilize data:

  • Automatic first notice of loss (FNOL). First notice of loss occurs when the insured first reports the incident to their insurance provider. However, many vehicles come equipped with telematics that can detect accidents and injuries. While some vehicles will dial emergency services in the event of an accident, insurance providers can use this same technology to trigger a claim on the insured’s behalf. Vehicle sensors and video imagery can give insurance companies an idea of the extent of the damage to make sure the most relevant adjuster receives the claim.
  • Drones and satellite imagery. Similar to using vehicle telematics to initiate FNOL for car accidents, insurance companies can pull data from drones and satellites following major storms to identify damage to the insured person’s property. When the customer calls to report the loss, their provider can already be several steps into the claim to expedite the process and improve the insured’s experience during a stressful time.
  • Greater accuracy on repair timelines. When insureds file a claim for a vehicle loss or property damage, the first question on their minds is how long it will take to fix so they can resume their lives as usual. Insurers can pull from historical data to see how long certain repairs will take based on the type of damage or loss the insured reports.
  • Reduce fraud. Fraudulent claims increase costs, which increase premiums for all customers. By harnessing data from social media, insurers can identify fraudulent claims. Utilizing AI can also red flag cases that score high for fraudulent behavior.

Most insured don’t think about their insurance provider until they need to make a claim. How smoothly and quickly that claim processes play a significant role in customer satisfaction and retention. If your claims processes are frustrating customers or costing your insurance company business, Actec can help. Contact us to learn more about improving claims management.

4 Things Insurance Companies Struggle to Do Well

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March 23rd, 2020

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Insurance is one of those expenses that seem burdensome up until the policyholder needs to make a claim. Whether the individual is in a car accident, experiences a loss due to flood damage, or any other covered incident, insurance becomes indispensable. However, there are many pain points for customers when it comes to their insurance providers. If insurers don’t take steps to rectify these issues, they may find their customers leaving in search of better insurance options.

The biggest areas where many insurance providers fall short include:

  1. Meeting young clients’ expectations. Millennials are more likely than other generations to shop around for a new insurance provider following a dissatisfying interaction. They expect emails or text updates about the status of their claims. They also expect to be able to access their claim information from the convenience of their phone on an app.
  2. Explaining insurance rates breakdown. Several factors affect insurance premiums. Insurance providers consider the type of car the customer drives as well as his or her age, gender, marital status, credit history, miles driven per year, and zip code before offering a rate. However, most insurers don’t explain how much weight they give to each category and this can make it difficult for insured customers to understand their premium or how to reduce it.
  3. Explaining coverage. Insurance providers know the terms of their policies inside and out. However, many insurance representatives struggle to present insurance products and packages in a way that is easy to digest for the average customer. Insurance jargon can confuse or mislead customers regarding their coverage.
  4. Processing claims correctly the first time around. Insurance companies want to resolve claims quickly just as much as the customer does, but several issues can trip them up in the process. Health insurance companies are notorious for claims processing errors. While claims processing has improved over the past decade, there are still a significant amount of denials. This leaves customers frustrated and drags out the settlement process.

The competition among insurance providers is fierce, as millennials have shown they have no qualms switching companies. One sour claim experience can result in the loss of a customer as well as any potential referrals that customer may have provided. To learn more about improving claim management, contact the experts at Actec.

How to Simplify Your Claims Processes to Improve Growth

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March 9th, 2020

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Filing an insurance claim is often a frustrating time for customers as they’ve likely experienced a loss. A claims process that is difficult or slow to produce results can further those aggravations and can cause customers to look elsewhere for their insurance coverage. There are a lot of factors that contribute to customer loyalty, and the claims experience tops that list.

Technology Band-Aids No Longer Bridging the Gap

Customer Pain Points

Insurance providers know that customers expect a mobile application and an online portal to manage their bills, policies, and claims. However, simply developing an app is not enough. Many forms still require customers to download and print them out to complete. Then they have to scan and upload the document.

This process is time-consuming and no longer realistic. The setup of a desktop computer with a separate printer has faded into technology history as more people rely on laptops. The need to print things in general has decreased as more industries get on board with electronic documents and signatures. Add in the cost of buying a printer and ink, and owning a printer becomes costly and unnecessary.

Electronic forms still pose problems for customers as well as many aren’t responsive. If the customer happens to be home and have access to their laptop, they can fill out the form. If they attempt to do so on their phone or tablet, however, many begin to experience compatibility problems. In a high-tech world, these kinds of difficulties are unacceptable to most insured customers.

Insurance Provider Pain Points

Even when insurance providers offer forms, they often lack the ability to capture the information contained within it. This means they have to manually carry over the information the customer provided, which takes time and is prone to human error. Many forms also lack all of the details insurance adjusters need to process the claim so they end up contacting the customer to ask for the information again. This aggravates the customer as it comes across as redundant and delays the claim.

Switching from paper to a truly high-tech digital process can save insurance representatives’ and adjusters’ valuable time processing claims, expedite the claim for the customer, and improve customer satisfaction with the overall claims process. The experts at Actec understand what insurance providers need out of their claims handling processes. Contact us to learn how we can help improve your claims intake, FNOL, and more.

How to Harness FNOL to Improve Customer Satisfaction

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February 24th, 2020

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It costs insurance providers a lot more money to obtain new customers than it does to retain existing ones. That’s why improving customer satisfaction is an ongoing process for most insurance companies. However, customers aren’t going to care about great rates if their experience filing a claim is a disastrous one. When the claims process is more arduous than the event that triggered the claim in the first place, insurance providers will quickly discover they have a retention problem on their hands.

Whether a policyholder is calling to report the damage to their home, their vehicle, or some other covered item, first notice of loss (FNOL) represents the single greatest opportunity to influence customer satisfaction. Insurers that manage the stress of the claim right from the start can help customers feel at ease. Any claim that has a rocky start is unlikely to improve in the eyes of the customer so insurance providers need to make FNOL count.

How to Help Put Customers at Ease During FNOL

Customers filing a claim are likely to be in a turbulent frame of mind. Insurance representatives can help put customers at ease in the following ways:

  • Be empathetic to the customer’s situation
  • Answer all questions that customer may have
  • Provide a clear picture of the claims process
  • Be direct in how long the claim should take from FNOL to settlement
  • Provide information on the next steps to simplify the claims process for the customer

If an insurance company fails to put a customer’s mind at ease about the outcome of the claim, they’re unlikely to secure that customer’s loyalty.

One of the most challenging aspects is getting a handle on empathy. It’s easy to offer condolences following FNOL, but that does nothing to ease the situation for the customer. Reacting to the reality of poor customer satisfaction following claims, many insurers are overhauling their approach to FNOL. Some examples include helping arrange estimates or coordinating with contractors on the insured’s behalf.

Building loyalty is challenging in the insurance industry and FNOL is the key to getting started. Helping the insured customer feel secure throughout the claim process starts when they first report the loss. To learn more about improving your claims process, contact the experts at Actec.

5 Simple Changes to Close Claims Faster

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November 18th, 2019

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It’s not uncommon to see job postings for insurance adjusters include desired skills such as fast worker or excellent multitasker. With so many boxes to check on any given claim, most adjusters believe they need to complete three tasks at once to stay on track. However, this approach often leads to time-consuming errors that can delay the claim. If adjusters take a single-task approach, they can usually complete their claims faster with fewer mistakes.

What is Singletasking?

Instead of trying to perform several tasks at once, adjusters tend to be more effective if they focus all their efforts on completing one task before starting another. Avoiding distractions is vital as it allows adjusters to seamlessly flow from one step to the next without losing track of where they were in the claims process or forgetting to complete a different task because they began a new one halfway through.

How to Speed Up the Claim Cycle

The following are several ways adjusters can remove distractions for flawless claims workflow:

  1. Turn off all devices that require active listening—no television, no radio, no podcasts or audiobooks, etc. While some tasks may be tedious, active listening distracts adjusters’ attention, which can lead to errors.
  2. Set office hours and stick to them. Otherwise, adjusters should turn off their phones and allow messages to go to voicemail. Stopping to answer the phone every 10-15 minutes can derail progress on a claim.
  3. Do not check emails. Emails are notorious for consuming the workday. Adjusters often start with good intentions—checking for updates and the like—but a five-minute once-over can turn into upward of an hour of clearing out spam or replying to emails out of habit rather than to advance any claims. Set specific times of day for checking emails to avoid the temptation.
  4. Perform work in batches. When following up on claims, stack them in a pile and work through them from top to bottom. Do not take calls or listen to other voicemails at that time. This creates confusion and can result in accidentally overlooking a claim. The same is true for emails or writing estimates.
  5. Put up “Do Not Disturb” signs. This is especially vital when traveling for claims. Housekeeping for hotels coming and going can disrupt workflow, as can well-intentioned friendly coworkers dropping by to chat before heading out to their next claim.

Closing claims faster and with fewer errors improves an insurer’s bottom line while boosting customer satisfaction. To learn more about improving claims processing and management, contact the experts at Actec.

How to Solve the Top 4 Challenges in Claim Status Inquiries

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October 7th, 2019

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Monitoring the status of a claim is important to ensure it funnels through the correct channels without time-consuming errors, denials, and more. However, providers often report that monitoring a claim’s status is a heavy burden as it takes up considerable time. While one claim only requires around 14 minutes and costs an estimated $7.12, medical providers made 737 million claim status inquiries by phone, fax, or partial electronic means in 2018 alone.

The following are the biggest hurdles for providers, practices, and billing teams when it comes to claim status inquiries:

  1. Manual inquiries are costly and time consuming. Looking at the statistics above, manual claim inquiries cost billions of dollars and took up millions of work hours.
  2. Claim status inquiries don’t yield actionable results. Many claims follow their course as they should, which means providers waste their time following up on claims that aren’t at risk of denial.
  3. There are often limits to how many inquiries a provider can place on one call. This means providers must make multiple inquiries, taking up even more time.
  4. Lack of visibility makes prioritization difficult. Providers can’t intrinsically know which claims offer the highest yield, which can mean they give unnecessary time and attention to lower priority claims.

The simplest way to shorten the amount of time and money spent on claim status inquiries is to automate the process. Compared to manual and partially electronic claims, fully autonomous claim status inquiries cost $1.89 per claim and only take up around five minutes of the provider’s time. This means with 100% electronic claim status inquiries, the healthcare industry could save as much as $2.6 billion per year.

Improving the claims process from start to finish not only improves customer satisfaction, but it also helps save time and money for the provider while boosting transaction rates for the insurer. Insurance companies will receive more claims on a faster timeline, which translates to more cash flow. To learn more about improving the claims handling process, contact the experts at Actec.