Cloud contact center software has become a hot commodity as businesses seek to enhance remote work capabilities while delivering exceptional customer service. In 2022, the global contact center as a service market reached $4.43 billion in value, according to a Grand View Research report. It’s expected to expand at a compound annual growth rate of 19.1 percent from 2023 to 2030.
“The market growth can be attributed to the rising adoption of advanced contact center technologies to maintain better business continuity and streamline customer interactions to provide higher customer satisfaction,” Grand View Research states. “Moreover, the incorporation of Artificial Intelligence (AI) and Machine Learning (ML) technologies in contact center solutions is expected to create more demand for the contact center as a service (CCaaS) market over the forecast period.”
Cloud contact center technology can transform operations for all kinds of businesses, including insurance companies. Our technology advisors have noted that clients in the insurance space see a significant positive impact after deploying contact center as a service software. Here are some of the most notable cloud contact center benefits for insurers.
1. Lighter workload for contact center agents due to automation of simple tasks.
Cloud contact center software can lighten the load with chatbots and intelligent interactive voice response systems if your agents are overwhelmed with a flood of calls and customer inquiries. Conversational artificial intelligence can answer commonly asked questions and help clients start filing claims. That frees up your human staff members to focus on more complex requests.
2. Ability to connect with clients via digital channels.
Consumers increasingly want to communicate with businesses through digital channels instead of calling. A Bain & Company survey found that “a majority of insurance customers in most markets use digital channels for at least some of their information and transaction needs.” If you want to deliver the best possible customer experience, it makes sense to invest in omnichannel contact center software that allows you to serve clients via web chat, texting, and more.
Failure to adapt to evolving preferences could cost you customers. In a June 2020 survey conducted by PwC, 41 percent of insurance policyholders who had problems with their insurers said they were either likely or more likely to seek out another provider due to a dearth of digital capabilities.
3. Unprecedented insight into claims department operations.
Cloud contact center software often includes real-time analytics, which can revolutionize how your claims department operates, according to RingCentral. For example, one RingCentral client in the insurance industry gained the ability to analyze 100 percent of the calls that came in. This led to an increase in supervisor capacity of approximately 50 percent (from 12-15 agents to 22-25 agents). Now, the insurer doesn’t need to hire as many supervisors to oversee the same number of agents, reducing labor costs.
4. Simplified security and compliance.
Many cloud contact center software suppliers have insurance industry experience and enterprise-grade security features built into their platforms. Your contact center provider can ensure your clients’ data stays safe from evolving threats, making IT security and compliance less stressful for your internal team.
If you want to find the best cloud contact center platform for your insurance business, our advisors would be happy to help. We have experience working with insurers and can leverage our expansive partner network and cloud solution knowledge to identify an offering that aligns with your specific needs. With advanced tools, we can generate matrices illustrating how all your options compare. On top of that, our price parity guarantee means that working with us won’t cost you more than going straight to the supplier.
Explore our services today by calling 877-599-3999 or emailing sales@stratospherenetworks.com to schedule a consultation.
