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Contact Center Technologies in Insurance Distribution

Financial services such as banking and insurance control over 25% of all contact centers. For the insurance industry, contact centers are vital to customer engagement and retention. Further, today’s contact centers rely on technology to deliver an exceptional customer experience. Three technologies that every contact center solution should support are:

  • Automatic call distribution (ACD)
  • Interactive voice recognition (IVR)
  • Lastly, analytics

Let’s look at how four solution providers address these three technologies.

Automatic Call Distribution (ACD) at a Contact Center

ACD routes incoming contacts to the agent that is best-equipped to address the customer’s concerns. Precisely, how that is accomplished depends on the technologies being used.

  • Omnichannel Support. Contact center solutions should provide omnichannel routing. Customers should be able to interact with a center from multiple channels such as voice, social media, emails, or chat. If the customer changes channels, the transfer should be seamless within the same session.
  • Advanced Skills Routing. Skills-based routing uses machine learning to match the incoming call with the agent most likely to help the customer. This feature means customers are not transferred from agent to agent until someone can address their concerns.
  • Persistent Data. Customers hate to repeat themselves. Persisting data across multiple platforms means people do not have to provide the same information every time they are transferred to another agent or use a different channel.
  • Integration. Contact center software doesn’t operate in a vacuum. Insurers have existing applications such as CRM or automated workflows that need to interface with the center.

All four providers support omnichannel and skill-based routing. Amazon Connect, Genesys, Five9, and Twilio support API interfaces; however, they do not stipulate what APIs they support. All solutions persist data across channels.

IVR Interactive Voice Recognition

IVR solutions welcome callers to a session. Instead of requiring customers to use a keypad, callers can speak to an IVR attendant at a contact center. The use of natural language and speech-to-text processing can improve IVR interaction.

  • Natural language processing (NLP). NLP allows customers to say what they want rather than push a button or say a phrase. Machine learning can help improve the quality of the attendant’s language.
  • Call back. No one likes to wait on hold, but sometimes it is unavoidable. Some IVR systems let the customer know the approximate wait time and give them a choice to stay on the call or have an agent return the call.
  • Outbound features. IVR can automate outbound calls and push out digital messages like texts and emails.

Amazon Connect, Genesys, and Five9 offer natural language processing with artificial intelligence support. Additionally, callback options are available on all platforms as are outbound calling features.

Analytics

Contact centers generate lots of data that can be used to gain actionable insights. Solutions should provide reports and analytic tools to help optimize operations, such as automated workflows.

  • Reports. Most contact centers use the same KPIs to measure performance. Solution providers should offer standard reports on key performance indicators.
  • Data Sharing. Information is the foundation for predictive modeling and artificial intelligence implementation. The wealth of data about customers should be easily exported for use across the enterprise.
  • Monitoring. No solution would be complete without tools to monitor performance. Some software may use the data collected to inform the system of changes in workflows. Indeed, recording contact sessions is one way to check quality performance.

Genesys provides integrated reporting and analytics. Twilio, Five9, and Amazon Connect rely on third parties for reporting and data sharing. Further, all support recording, notes, and administrative controls.

Learn More About Contact Center Technologies

The complexity of contact center software can make finding the right provider a challenge. For insurers, the technical evaluation is only part of the challenge. Indeed, insurance companies need solutions tailored to their unique environment.

Jaroop specializes in insurance distribution solutions that solve business problems. In fact, Jaroop’s expertise means they understand the regulatory requirements, the security concerns, and the profitability pressures that insurers and agents face.

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