Ozonetel’s communications solutions for the Insurance industry

“India’s insurance market is expected to quadruple in size over the next 10 years” (Source – IBEF)
Industry reports (EY-CII, PWC) talk of the importance of increasing penetration through new modes of distribution such as the internet, direct and telemarketing.
To be able to capture this growing market and stay relevant to the user’s needs the industry needs to pivot to a more responsive & efficient communications framework which presently is limited - plagued by multiple challenges.

Communication challenges in Insurance industry With the evolution of technology, specifically internet, addressing customer queries via multiple channels in a timely and effective manner has become the need of the hour. For example - A customer might choose website live chat as a non-intrusive channel to gather information or maybe surf the net with open ended questions to get the best answers. Like – Who is the best car insurance provider in Mumbai? OR Check Twitter to see whether the chosen provider has any unresolved user complaints.
When we look at the current systems, a complete customer journey is not being mapped – from Marketing, to sales, to support, to retention.

Sales & Marketing is broken
  • Calculating the right marketing ROI is difficult due to the multitude of channels being used to source leads, sometime running in the 1000s
  • Running on legacy communications systems, real-time view of lead flow is limited
  • Delayed reporting of operational information from multiple centers
  • Different systems in use for information capture – no single centralized database CRM
  • Lack of CRM integrated platform to monitor lead nurturing effectively
Technology challenges
  • Solution which adds in intelligence in the contact center
    • Example – CRM integrated outbound dialer which can significantly boost outreach efficiency
  • Regulation linked with maintaining data security limits the options of choosing newer systems
  • Adequate back-up to cover BCP scenarios
  • Scalable & flexible contact center solution – presently most companies run on legacy on premise solutions, at
Non-centralized view of Operations
  • Distributed BPOs lead to a non-centralized view of processes & delayed reporting. Thus delaying effective & timely actions by the senior management
  • Strict regulatory environment requires that the internal sales & post sales processes run efficiently
    • Most processes need a strict adherence to SLAs related to lead outreach, closure timeline, handing over of policy documents etc
A simplistic customer journey cycle could be as below -
Marketing Campaigns
  • Do you have a real-time view of leads by channel
  • Can you calculate ROI by channel on a real-time basis
  • Which is your most effective channel, medium of inbound leads
  • Agent works within Leadsquared CRM while accessing all relevant information about the callers
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Presales/Inside sales outreach
  • Are you able to adhere to lead response SLAs?
  • Can you monitor the efficiency of the outreach process on a live basis?
  • How do you monitor distributed BPO centers?
  • How do you measure the load on a BPO on a live basis?
  • How do you distribute load between the various BPOs
  • Can you scale up & down without additional fixed costs in your current setup
  • What level of automation can you build into your system?
  • Do you have an automated audit mechanism for customer calls
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Post sales
  • Are you able to adhere to closure SLAs?
  • Which is your most effective channel, medium of inbound leads
These are some of the questions which crop-up when evaluating the buying cycle processes for an Insurance policy.

While the user sees the company as one – why should internal systems not do the same and provide an integrated view of the customer?
One stop for all communications solutions - Ozonetel
Being a pioneer in the cloud communications domain, Ozonetel can be the insurance industry’s one stop help to track, monitor & improve customer experiences.
Our integrated communications solution (inclusive of an Insurance industry CRM) consists of
  • Insurance industry specific CRM solution – Configure SLAs as per insurance regulations, creating rule based workflows, flexibility to integrated with system driven dialers
  • Integrated dialer with CRM – drive efficiency by deeply linking the telephony setup with CRM
  • Flexibility to interact with external systems – APIs available to be integrated with external dialers too and if need be any customer CRM or Helpdesk
  • Detailed agent & call center reports and analytics – all available at your fingertips
  • Complete DR with redundancies & back-ups – Ozonetel’s integrated system can be setup with on premise and off premise back-ups
  • Private cloud – Enterprises needing a complete on-premise solution due to regulatory or compliance issues can now avail Ozonetel’s “Private cloud” – all the benefits of a cloud solution on premise

insurance call center flow

Impact of deploying Ozonetel’s solution at one of India’s largest private Insurer

  • Faster lead response - 180% improvement in response time to contact a lead
  • Increase in sales - 50% increase in net sales done
  • Faster data collation - Improvement in providing real time access to reports from a gap of T+3 for both BPO partners combined thus giving a unified view
  • Improved customer experience - Overall the customer experience has improved dramatically because of more transparency in the leads coming in
  • Getting more out of the BPOs - Automatic business rules for lead distribution to BPO partners thus avoid a 3 FTE cost for MIS & data
  • No additional investment - Complete savings in Capex
  • Built automation into the integrated system - Automated call flows & IVR have made the whole system inherently efficient
  • Inherent audit mechanism available now - With Call recording feature, the system is completely auditable as well as helps with quality control

Get a free trial and experience our call center solution!