Changes in policy, increased regulation and the growth of new technologies means there has been a significant shift in the way the insurance industry engages with its customers.
Consumers now expect immediate access to their insurance provider via a range of online and offline channels to find out information and advice about their insurance products.
Many companies have had to completely rethink their processes, products and systems to meet these changing customer requirements.
Firstsource has helped some of the UK’s largest insurance providers navigate this landscape, transforming processes and developing different channels to ensure they continue to deliver the best possible customer experience.
We have extensive experience in insurance, particularly within the pensions and general insurance sectors and provide resources and expertise to support sales, policy setup, policy account servicing, mid-term adjustments, renewals and retention.
Alongside this, we comprehensively manage claims handling transactions including claims management, adjudication, remediation and fulfillment.
Our flexible resource models – on-shore, off-shore, or a blend of the two which we call “Right-shoring” – support multi-channel engagements such as email, web chat, in-bound and out-bound activities.
One of the UK’s leading insurance service providers in the automobile sector, needed to streamline customer management and back-office processes, and increase profitability. It was critical to develop
a low risk business model that improved compliance and prioritised data security.
Firstsource introduced cost-efficient operations based on right-shoring, end-to-end process delivery capability in back office and front office operations. First Customer Intelligence (FCI) – the customer analytics solution was implemented to improve CSAT. Efforts were directed at improving Net Promoter Score (NPS) and customer loyalty.
The client saw a bare minimum risk in their undertakings and significantly improved year-on-year profitability. Operational efficiency also improved by implementing best practices, deploying FCI and
a digital service strategy. Customer Satisfaction (CSAT) scores for agent performance remained consistently at 9.0 on a scale of 10.