In the current economic climate, insurance companies are under pressure to reduce operational costs and deliver excellent customer experiences. To do this, they need to improve their operational efficiency and ensure that they can process claims quickly.
As your business grows, the number of claims processed will increase. You’d start to have challenges with enterprise tasks. Other work tasks like keeping track of calls, emails, and customer interactions may also slow down.
This reduction in efficiency leaves your insurance company with the risk of losing customers. You may start having limited insights on SLAs, backlogs, and individual employee/operation performance.
However, there are ways to resolve these operational challenges without affecting your operational efficiency. One proven way to manage multiple workloads more effectively is to leverage a workload management technology. An Enterprise Workload Management Software such as Genesys Intelligent Workload Distributor (IWD) delivers excellent customer experiences and reduces operational costs without lowering speed and efficiency.
IWD can help you handle all day-to-day tasks efficiently. It allows the managers to focus on their core responsibilities without worrying about allocating tasks manually. Your managers won’t have to waste more time on minor miscommunication issues or inconsistencies among team members.
Why You Should Use A Workload Management Software
To increase efficiency, an insurance company must implement a workload management system. Genesys Intelligent Workload Distributor IWD will help you manage your operations better by allowing you to do the following:
Enterprise Workload Management
- Integrate with and control the workload of enterprise-level systems (such as customer relationship management, business process management, enterprise resource planning, and more).
- Transforms the operations from department/group level to enterprise level.
- Dynamically blends interactions across channels to the same worker and optimizes resource utilization. Reduces the average cost of interaction across the channels.
On-Going & Dynamic Prioritization
- Unified, multi-dimensional, ongoing, and dynamic prioritization with business rules.
- Moves decision of task prioritization from individuals (employees) to management.
- Improves Service Level Agreement (SLAs) and customer experience.
- Prevents regulative penalties.
People Awareness
- Creates a unified, enterprise-level employee presence. It automatically assigns tasks to the best-skilled resource at the right time to push productivity to new heights and reduce operational costs.
- Increase efficiency, resource utilization, occupancy rate, and employee satisfaction.
- Reduces Average Handle Time (AHT), error rate, and time between tasks.
Improves Visibility
- Enterprise-wide real-time and historical operation insights for workload trends, SLAs, and employee performance.
- Helps for better and fair performance measurement, workforce management and forecasting.
- Improves service quality and agility of operation management.
IWD In Action: Genesys Delivered A Significant Return On Investment For The Following Insurance Companies
Businesses with a poorly managed workforce risk losing their competitive edge. The need to improve this area is more crucial than ever, especially regarding insurance companies.
Intelligent Workload Distribution software (IWD) by Genesys is designed to help companies improve workforce management by automating traditionally manual processes. The software can manage information and automate tasks such as emailing employees or scheduling appointments.
Bupa, Corona, and SPB Insurance France, which all use Intelligent Workload Distribution software (IWD) by Genesys, are seeing significant returns on investment due to improved workforce management.
The IWD by Genesys software has helped these three organizations improve their workforce management processes and increase their bottom line.
- Corona Direct: 71% of leads called back within 3 mins, 90% of emails answered in 24 hours
- Bupa Insurance: decrease in average handling time by 54%
- SPB insurance France: employee satisfaction rate increased by 95%.
We have helped many companies like yours increase their bottom line by improving their workload management processes. We can help you set up a system that will work for your organization and help you realize the benefits of a good workload management system.
