- Net promoter score (NPS) and customer success outcome: Today every business wants to retain its customers and wants to make them happy & contented to minimize churn. You should always focus on the factors regarding how you can keep your customers happy with your services or products. Net promoter score (NPS) is one of the important customer satisfaction parameters. NPS is a relationship survey which helps you to understand whether your customers will recommend you to others or not. If your NPS drops below a certain level, you should send auto email alerts. NPS is calculated on a score of 0-10. People who score 0-6 are known as detractors, who score 7-8 are known as Passives and Promoters are called who score 9-10. You can wisely utilize your NPS score to optimize your customer engagement plans.
- Good communication: Good communication is also very important which can make your claims management process successful. Just imagine, you have good people, good processes, and good claims management software system, but if you lack good communication throughout your company, then this can make your claims process management miserable. Every person in your company should understand how important it is so that they can ask relevant questions and keep lines of communication open for the policyholders. Making assumptions will not only wreck the claims management process but also creates needless frustration and agony to the customers.
- Business process reengineering (BPR): BPR is a strategy which an insurance company adopts to design its workflow and business process within the organization. BPR helps an organization in restructuring its business processes by improving its customer service. If an insurer helps its policyholders to get claims on time, then they will certainly remain loyal to the company. BPR improves the business processes by elevating efficiency and effectiveness of the process which exist within the organization.
- Customer journey mapping: To make your claim management process successful, you need to understand the customer journey map. A customer journey map is a visual representation of your customers which they have experienced with you. This helps you to understand your business in your customer’s perspective. It helps you to understand your customer’s pain points and how can you improve your customer service which can arrest the pain of your customers. You can’t make your claims management process successful unless you know what your customers are experiencing and what they are looking for.
- Data analytics: You can use data analytics to optimize your claim management process. The insurance sector collects a plethora of data on each claim and all this information becomes your resource and helps you to analyse your claim management process in a better way. From this data, the insurers get better insights which will help them to interpret what’s going on their claims management process and claim population.
These are some parameters which help you to measure the success in your claim processing management. Successful claim management will not only uplift your company’s efficiency but also makes your customers happy and satisfied. This also ensures that all your agents are working efficiently without enhancing the costs and effort. If you want to reach the zenith of success, try to make your claim processing management successful.
About the Author
Jaidev Chatanat is a thought leader in the space of marketing intelligence, customer service and digital transformation. He has been an advocate for applying the right digital transformative strategies and techniques for many decades for fortune 500 companies.
He is reachable for consultation on firstname.lastname@example.org