5 Ways IVR Is Used for Insurance Companies

From obtaining quotes, filing claims, or paying bills, insurance customers have no shortage of critical tasks that require contacting their providers.

Insurance companies can modernize their IVR software by automating processes that surprisingly are not typical self-service options that one would expect. Here are 5 ways insurance companies are leveraging IVR software to their advantage:

1- Processing Payments

The insurance agency empowers their customers to self-seve by paying their premiums quickly and effortlessly via the voice channel with IVR automation. Automating these processes improves efficiency by freeing agents to handle more complex issues. In addition, insurance companies are leveraging outbound voice and SMS messaging solutions to notify customers of upcoming or past due payments.

2- Gathering Customer Feedback

Many companies overlook the opportunity for gathering customer feedback with their IVR solution. For example, phone surveys not only help to evaluate the effectiveness of your customer service, but also aid customer retention efforts.

Automated surveys allow you to measure customer interest in new products and services while also providing immediate feedback about current customer service processes making it easy to quickly follow up and resolve problems.

3- Relaying Policy Information

When customers need answers about their current policies in place it is often they start by picking up the phone and calling their insurance provider as their first action. Insurance companies can leverage their IVR application to share ongoing policy updates as well as collecting policy holder information in order to automate quotes for additional policies.

4- Checking Claim Status

Checking on claims is one of the main reasons customers call their insurance providers. Therefore, it’s critical for insurance companies to reduce costs and streamline these caller activities by customizing their IVR application to provide customers with the ability to check claim statuses anytime and anywhere.

5- Offering Security and Compliance

Even though security and compliance seem to be automatic amongst companies passing personal and financial information through systems. So many companies fail to meet the minimum security requirements. Insurance companies who utilize an IVR application can also provide a level of compliance to their customers. For example, insurance companies can implement PCI-DSS Level 1 compliant solutions via their IVR software, providing the type of security for personal data that insurance customers expect. Building the right security measures into applications, improves security, and strengthens customer trust.

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