Health Insurers: Stand Out From the Crowd with Sophisticated Customer Follow-up
The competition in the health insurance industry is growing tighter as the market continues to provide ample options of policies for customers to choose from. Competition will only intensify, especially once the new health insurance mandate takes effect.
It is essential for healthcare insurers to embrace sophisticated customer follow-up practices that ensure customer retention and higher conversion rates. Since brokers and agents are on the front line of customer interaction, insurers need to implement cutting edge tools that motivate producers to perform their best, so they can achieve both their individual quotas and company targets. Insurers’ overall business growth heavily depends on the internal processes that support customer service.
When carriers revamp their internal process, providing producers with access to critical data in one place can be a major differentiator. Be it subscriber accounts data, commission break-down on a mix of products, or producer performance details to evaluate goal attainment – data is critical for precise decision-making and customer responsiveness.
Insurers can maximize their returns by investing in a flexible incentive compensation management technology integrated with CRM and producer portals.
With such a system in place, producers can:
Engage customers in a professional manner
Track and service subscriber accounts
Monitor quota attainment
Learn about new policies and bring them to market quickly
Encourage and improve product training and certification for producers