Businesses today operate in a world of ever-changing regulations with the insurance industry a perfect case in point. Companies already need to comply with rules such as the Financial Services Authority’s Treating Customers Fairly (TCF) initiative as well as ensuring the meet tightening solvency regulations.The new financial year will see a new regulation become law. On April 6, the Consumer...
Insurers today are facing growing challenges. The rise of the internet, greater competition, diminished customer loyalty and increased claim costs all require a radical shift in approach if insurers are to survive. It is no exaggeration to compare the sector to retail – where the damage caused by changing consumer behaviour has decimated traditional high street players.Efficiently delivering...
Insurance is an industry that has been radically changed by the rise of the internet. The move online has increased competition, particularly with the growth of price comparison sites which have slashed margins and made customer loyalty a thing of the past. But moving to this new, multichannel, customer-centric and low margin world is proving to be a major struggle for many insurers still hampered...
The current wintry conditions are leading to treacherous driving conditions, travel disruption and the closure of thousands of schools across the UK. It is also having a major impact on customer service. Contact centres are receiving an increased volume of calls, emails and tweets from consumers looking for information, complaining about delays and seeking help.The weather doesn’t just impac...
Insurance is a sector that has seen dramatic change over the past five years. The rise of the internet and price comparison sites has transformed the landscape. Insurers are now having to live with diminishing margins and customers that shop around as a matter of course when their policies come to an end. Add to this that many insurers are struggling with inefficient technology and processes and y...
Excellent customer service combines great people and strong processes, underpinned with the right technology. Experience shows that it is vital that these three elements are balanced – after all the best people can’t do their jobs if their IT doesn’t provide them with accurate and up to date information that meets their needs.Unfortunately we’ve all heard stories of well-in...
The devastation brought by Superstorm Sandy to the North East United States has impacted huge numbers of people. As well as loss of life, millions have been without power and hundreds of thousands more have had to evacuate their homes and abandon their possessions. And as previous natural disasters, such as Hurricane Katrina, have shown, cleaning up the aftermath and getting life back to norm...
In an era where organisations are looking to reduce expenditures wherever they can, it is vital that they don’t make cuts that actually lead to increased costs – or cause valuable customers to take their business elsewhere.This is particularly true when it comes to customer service – after all it is easy to believe that cutting corners in the contact centre won’t affect how...
Delivering excellent customer service is a central part of business today, whatever industry you are in. While sectors such as retail may be very visible when it comes to customer service initiatives, improving service can deliver huge benefits in other, more traditional, sectors such as insurance.The perfect example of this is Ageas Insurance Solutions (AIS), one of the UK’s leading persona...
In the move to a digital world it is easy to overlook that a huge percentage of customer communication is still through traditional mail and fax – so called white mail. This is particularly true in industries such as banking and insurance where legal requirements mean documents need to be signed and returned. And in many cases customers feel more secure having signed and posted a document ra...