Informative IVR Solution Boosted Growth of Insurance Companies

Ahmedabad, February 23, 2016 (Newswire.com) - People used to buy one or more than one insurances for a variety of reasons. Some want to secure their future after retirement, and some want to secure their family in any worst situation, while some are just taking insurance as part of their investment portfolio. The reason can be anything, but at an average 3 out of 10 people own the insurance cover. This nature of the insurance holders and buyers has introduced a wide range of insurance policies with different plans, features and benefits. The business allurement of the industry has also created the fierce competition. Thus, it is important to integrate different advanced tools in the business model to leverage the business benefits. One of such solutions, any insurance company must have as part of its customer catering and nurturing services, is “Informative IVR Solution”.

What is the Informative IVR Solution?

It is an Interactive Voice Response System, which automatically attend the calls of the callers, offer them the solutions and answers they are looking for based on the programmed logic of the system and input given by the caller. On a customer's side, this can be accessed by any type of phone.

How Information Provider IVR Solution Can Benefit Insurance Agencies?

The informative IVR system will work as a wiki of the whole agency. It can be fed with all required information such as:

• Information of insurance agency

• Information about Different types of insurance covers

• Benefits of different insurance policies

• Terms and conditions of a particular insurance

• Market value information

• Possible Risk related information

• Information about possible tax benefits

• Information of key personnel of the agency

• Information of the assigned agent

• Information of due premium installments and due date

• Calculation of premium amount based on specified criteria

• And more

All this information can be accessed by the callers so they can serve themselves on their own. This will bring many benefits to the insurance company. Some of them are listed below:

Better Resource Utilization

In a majority of cases the insurance agents are spending their time giving the basic information to their clients and prospects. Whilst, using the wiki IVR system, this job will be automated. Thus, agents can focus on converting the leads, and generating new leads as well as in other productive tasks.

Reduced Expenses

As the basic queries can be resolved with an automated tool, now the insurance companies can save a considerable amount of money on communication: in case of calls need to be made to resolve client queries and commuting, in case of face to face meetings with the clients. Moreover, the paper can be saved as the information can be offered on the phone via IVR solution and on request email containing all the information can be sent to the prospect. This will save the stationery cost.

Improved ROI

The investment over information provider Interactive Voice Response System (IVRS) is a one time and offered benefits by this system are for a lifetime. As this is a software solution, it doesn't get deteriorated with time. Thus, maintenance cost of the solution is almost nil. Moreover, this IVR solution comes with an easy to use web based admin panel, which is very easy to function and manage. Thus, making any changes in the IVR menu can be done by any staff member. The least expense in the usage and maintenance and ongoing benefits of the solution guarantees the improvement in the Return Over Investment.

These benefits amalgamated with many more, specifically for the insurance agencies, offered by the Informative IVR solution ensure the business growth and success.