Insurance carriers are engaging in countless interactions daily with both insureds and the independent agents who represent them. Each of these touchpoints—like a phone call between an underwriter and agent discussing the risk of a recent submission, or a claimant calling in to file their first notice of loss—holds valuable data.
Consider the sheer volume of these interactions: a mid-sized insurance carrier might handle thousands of customer and agent interactions every single day. Each of these exchanges contains valuable information that, when properly captured and analyzed, can provide profound insights into customer needs, representative performance, development opportunities, and overall business operations.
The accumulation of data from these interactions paints a broader picture, revealing patterns and trends that can help insurance carriers optimize their support for customers and agents alike. This wealth of information can uncover growth opportunities, highlight areas for process improvement, and even identify training needs for the team members handling these insurance interactions.
Moreover, this data isn’t just about improving business operations—it’s about understanding the evolving needs of policyholders and opportunities to strengthen relationships with your agents. By capturing and analyzing this information effectively, carriers can stay ahead of the competition and ultimately deliver a superior experience, becoming the carrier of choice.
Challenges With Capturing Interaction Insights Today
The trouble for insurance companies today is that capturing data and insights from interactions with agents and customers isn’t easy. Several challenges stand in the way:
Time Constraints: As interaction volumes increase, the time required to summarize each interaction becomes a significant burden. If team members are tied up with data entry, they’re not available for the next interaction, potentially leading to longer wait times and a negative customer experience.
Employee Pushback: Front-line employees often resist spending time after each interaction manually keying in data. This additional task can feel burdensome, especially when they’re trying to move quickly to the next customer or agent inquiry.
Inconsistency: The quality of data capture can vary widely between different team members or even between interactions handled by the same person. Some employees may be more diligent or skilled at summarizing interactions, while others might rush through the process, leading to inconsistent and potentially unreliable data.
Siloed channels: “Omnichannel” promises an integrated approach to engage with customers whether they interact via phone, web, social media, or in person, but the reality often falls short of these aspirations. This discrepancy stems from the challenges in joining these channels in a way that provides a seamless transition and consistent experience across each one. Reporting and data across these channels often lives in disparate systems, or in some cases, isn’t tracked at all.
How AI Can Help Insurers Standardize Data Capture After Interactions
As insurance companies consider the many potential use cases for AI, unveiling it for customer-facing interactions might seem too risky. But there is a responsible and effective way to leverage AI: using it to complete wrap-up surveys after interactions.
By employing generative AI in this manner, insurers can standardize data capture after every interaction and ensure that no exchange goes undocumented. Carriers can also do so without the fears associated with customer-facing AI.
Team members can quickly review and validate the AI-generated survey for accuracy, maintaining human oversight while benefiting from the efficiency gains of simply reviewing the data instead of manually entering it. Ultimately, this provides critical data back to managers with a consistent voice and style 100% of the time.
Insurance companies benefit from capturing rich insights on all interactions, while allowing underwriters and CSRs to spend their time doing what they do best: properly analyzing risk and providing strong personalized service.
How Can Carriers Unlock These Valuable Insights?
Glia Cortex is a responsible AI solution that is specifically built for the needs of financial services companies.
With turnkey AI for customer service reps and managers, Glia is enabling insurance companies to safely and responsibly leverage AI to drive immediate business value. Cortex Interaction Wrap-Up works for both phone and digital interactions, completing post-interaction surveys automatically without requiring CSRs or underwriters to lift an additional finger.
By leveraging Cortex Interaction Wrap-Up to capture interaction data, insurance carriers can transform a once tedious process into a strategic advantage. This approach not only improves efficiency and ensures compliance, but also unlocks a treasure trove of insights that can drive business growth and enhance customer satisfaction.
In today’s data-driven insurance landscape, carriers who effectively harness this wealth of information will be well-positioned to lead the market and provide superior service to both their independent agents and insureds.
Request a demo today to see how you and your team can benefit from the power of Glia Cortex.
