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How New-age KM Perfects Insurance Call Center Script?

7 mins read

Clear communication across multiple touchpoints is one of the most underrated customer expectations in modern times. Customers expect clear and concise communication with brands. According to a report by Zendesk, 3 out of 5 customers said that excellent customer service is essential for them to feel any loyalty towards a brand. It is all the more relevant for companies in the service business, including insurance.

To build a cohesive customer experience, you need strong knowledge management (KM) mechanism in place. KM helps you streamline existing information, provide structured answers across multiple touchpoints, and build a better customer experience. 

Need for knowledge management in insurance sector

The following points explain why KM is critical for success in the insurance industry: 

  • For insurance or any other segment in the BFSI industry, it is critical to have clear communication with the customer. One of the most effective ways to build a great experience for the customer is by creating a knowledge management framework.
  • A framework can help you put down consistent information across multiple touchpoints and provide agents with the tools to provide clear and concise information to the end-user. A call center script goes a long way in a complex industry like insurance in delivering a better customer experience.
  • In current times, the agents need to have a clear insurance call center script and required training. Call center scripts for BFSIs, or insurance agents need to be tailor-made for the customer stage – pre-sale, sales, or after-sales support.
  • Many sales and support activities are still behind the several technological innovations that have flooded the market, with a human agent on the other end of the call. To do the job effectively, an agent requires the right tools and information. One of an agent’s best tools is a phone call script that works.
  • Calling scripts in insurance companies need to be crafted with the right balance of psychology, marketing, and logic to handle customer queries better and provide a seamless experience.
  • Gone are the days when you used hit-and-trial to determine the effectiveness of a call center script. Today, you can use call center script software to create a script based on AI and machine learning that has a better chance of winning.
  • Your KM strategy is at the center of your strategy as you develop an insurance call center script that works for the customers and the business.

Case study: 20% improvement in call resolution delivery of a leading BFSI startup

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How can a new-age KM help improve customer service in the insurance industry?

A robust KM strategy framework helps in various ways to improve customer service in the insurance industry. As the insurance industry is more complex and regulated than other sectors, it is important to have a KM framework that helps you deliver good customer service.

Here are some of the ways that knowledge management helps in improving customer service in the insurance industry:

1. Time-saving

Knowledge management activities do not only provide an effective call center script but also help you save time and energy by creating self-service tools, guidebooks, FAQs, and other solutions to help resolve customer queries.

For instance, as per the Zendesk research, nearly 70% of customers feel irritated when a call is transferred from one department to another. KM efforts help reduce turnaround time and provide resolution at the first stage itself. The time saved in providing the right solution to the customer queries will improve customer service.

2. Reduce human errors

One of the biggest advantages of having a knowledge management system on your side is that it reduces human errors drastically. Creating an insurance call center script that is comprehensive and covers all possible situations minimizes the possibility of human error.

Similarly, other solutions like chatbots, social media, and the extensive knowledge base will give its consumers structured information. The last thing you want is to provide a wrong answer to an already disgruntled customer. The structured information will help provide better customer service in all stages of the customer journey.

3. Improves consistency

Effective knowledge management platform always provides better consistency in information sharing and solutions provided to the customers. With consistent solutions, you can expect a consistent customer experience with the brand to increase loyalty.

One of the biggest advantages of an insurance call center script is that the agent can respond to customer queries in a structured manner. It is equally helpful in the sales and after-sales process.

4. Increases efficiency

A solid KM framework helps you increase the efficiency of the business operations. With a well-structured insurance call center script on your side, the team will be able to respond quickly and resolve customer queries faster.

The quick turnaround time will increase efficiency in business operations. Efficient business operations will equip your team to provide improved customer service.

5. Provides omnichannel experience

A robust KM strategy is integral to a better omnichannel experience across mediums like digital and physical. The content created under the KM strategy is used consistently over digital and physical platforms. The majority of the useful content is also used across the insurance call center script.

With almost 69% of customers preferring self-service tools on digital platforms, you can use the KM framework to deliver a better omnichannel experience. For instance, Knowmax helps you build an omnichannel experience that allows you to drive CX across the various customer journey stages. 

6. Better compliance

Creating a KM framework helps you in achieving better compliance. The required checkpoints are included in the insurance call center script, leading to a better score on the compliance requirements. As the insurance industry is more regulated than the other traditional and modern sectors, it is important to maintain strong compliance.

You can start with listing the required compliance to be mapped in the KM strategy and made part of the insurance call center script as it is being finalized. A solid KM strategy will help you achieve better compliance.

By using call center script software, you have the power of AI and machine learning to create an insurance call center script based on technology and give you the right balance between psychology, marketing, and logic. 

According to McKinsey’s research, almost 70% of the customer’s buying behavior is dependent on how they feel they are being treated. By putting in a solid KM mechanism, you would be able to deliver better CX and end up with a better brand reputation. 

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