RingCentral Cloud communications User Guide

: June 12, 2024
: RingCentral

Table of Contents

RingCentral Cloud communications
Product Information
Product Usage Instructions
Introduction
The insurance industry is at a crossroads
References
Read User Manual Online (PDF format)
Download This Manual (PDF format)

RingCentral Cloud communications

Ring-Central-Cloud-communications-product

Product Information

The product being discussed in the user manual is a cloud communications platform provided by RingCentral.com. This platform aims to facilitate digital engagement throughout the entire customer lifecycle in the insurance industry. It offers a range of features including telephony, chat, video conferencing, file-sharing and document editing capabilities, and contact center functionality. The platform allows policyholders to connect with insurance companies through various channels such as text messages, emails, voice calls, social media, chatbots, and self-service options.

Product Usage Instructions

Make it easier to connect with the insurer:

From the very beginning of the policyholder’s relationship with the insurer, it should be easy to connect with the company. The cloud communications platform provides flexibility in contacting insurers through preferred channels. Users can use:

Text messages
Emails
Voice calls
Social media
Chatbots
Self-service options

Improve internal collaboration for better customer service:

The cloud communications platform also offers internal benefits for insurers by enabling seamless collaboration among employees, leading to an enhanced policyholder experience. To improve customer service, the following steps can be taken:

Break down silos between departments: Encourage communication and collaboration between different teams within the organization.
Example scenario: Lori calls her insurance agent to file a claim after a car accident. The agent can easily reach out to colleagues in other departments, such as the auto insurance claims department or underwriting department, to get the necessary information and provide a comprehensive response to Lori’s specific question.

Cloud communications: Digital engagement throughout the insurance customer lifecycle ****

Introduction

Today’s consumers are accustomed to digital purchasing experiences with no friction. They’ve been using services such as Amazon and Netflix for years. Yet, insurance companies tend to use traditional methods to sell their services and communicate with policyholders.

This guide explores the need for insurance companies to facilitate digital engagement throughout the entire customer lifecycle and explains how a cloud communications platform can help.

The insurance industry is at a crossroads

When people hear the phrase “insurance industry,” the words “digital” and “customer-focused” don’t generally come to mind. According to the ACSI Finance, Insurance, and Health Care Report 2019-2020, the insurance sector continues to see a decline in customer satisfaction year over year, and nearly 90 percent of individual firms measured posted ASCI losses in 2020. For example, on the heels of a 2019 drop of 2.5 percent in ASCI losses, P&C insurance satisfaction scores declined an additional 1.3 percent in 2020. For years, the insurance industry delivered a less-than-stellar policyholder experience because there wasn’t enough competition, and consumers weren’t empowered enough to speak out. That’s no longer the case; policyholders have options, and they’re unafraid to share their opinions on social media if they have a bad experience. Policyholders today are also accustomed to digital experiences in other aspects of their lives. They order products online and choose what to watch based on recommendation engines. It surprises and irritates them that insurance companies don’t offer the same digital experiences.

How can insurers boost digital engagement throughout the policyholder lifecycle?

The answer lies in cloud communications, collaboration, and customer engagement platforms. This integrated platform includes telephony, chat, video conferencing, file-sharing and document editing capabilities, and contact center functionality all in a single solution. Policyholders can connect with insurance companies through their preferred channels, including text messages, emails, voice calls, social media, chatbots, or even self-service options.

NOTE : Here’s how you can leverage a cloud communications platform throughout the policyholder lifecycle:

Make it easier to connect with the insurer
Improve internal collaboration for better customer service
Gain a comprehensive view of the policyholder with business application integrations
Enable self-service capabilities
Accelerate the claims process

Make it easier to connect with the insurer

From the very start of a policyholder’s relationship with an insurer, it should be easy to connect with the company.

A cloud communications platform gives potential customers as well as current policyholders the flexibility to contact insurers through their preferred channel. They can use:

Phone calls
Social media
Chat
Video conference
SMS

Improve internal collaboration for better customer service

Cloud communications platforms have internal benefits for insurers, too. They enable employees to seamlessly collaborate, which in turn leads to a better policyholder experience.

Departments at insurance firms tend to function in silos. Even though a policyholder could have auto and home insurance with the same firm, the two teams might not communicate very well. Cloud communications platforms make it easier for teams across the organization to collaborate.

We’ll illustrate with an example: Lori calls her insurance agent to file a claim after a car accident. She also has home insurance with the same insurer, which puts her in a higher discount and loyalty tier. The agent that picks up her phone call isn’t sure how to answer Lori’s specific question, but he knows that he can easily reach out to his colleague in the auto insurance claims department. underwriting department.

The agent ultimately connects Lori and a claims department employee, who is able to help Lori with her problem. Leveraging a cloud communications platform, the agent is able to quickly connect with the person who can solve Lori’s problem while Lori is still on the call. This level of service impresses Lori, who then shares her positive experience with friends and family. Her relationship with the insurance company is strengthened and she remains a loyal policyholder.

Gain a comprehensive view of the policyholder with business application integrations

Policyholders are more than just numbers. They’re humans with jobs, homes, cars, and families. When they interact with their insurance companies, they want the employee with whom they deal with to understand their whole situation, not just the small part of their lives relating to a claim.

Cloud communications platforms integrate with business applications such as CRMs, which contain information about a customer’s history with the firm and other pertinent information. This integration helps insurance companies avoid bouncing policyholders from employee to employee until someone is found who’s familiar with the policyholder’s history.

In addition, this integration could be a way to cross-sell policyholders new products and services. For example, if a policyholder welcomes a new child into the family, it’s time for that person to consider life insurance.

Enable self-service capabilities

A crucial aspect of digital engagement is self-service capabilities. Policyholders like being able to find information on their own before they turn to a contact center. In a post for CIOApplications.com Jeremy Pope, Senior Director of Consumer & Policy Services for Citizens Property Insurance Corporation notes about the self-service trend: “Consumers are now demanding such services as electronic document delivery, real-time product changes, online claim filing, and video and chat capabilities.”

Research highlights the importance of self-service capabilities for insurers: a PwC report from June 2020 revealed that 41% of policyholders who had difficulties with their insurer said they were likely to switch carriers who had better digital capabilities (which included self-service).

Accelerate the claims process

One of the policyholders’ chief gripes about the insurance industry is that it takes too long for companies to process claims. A total loss auto insurance claim can take a minimum of a month. When policyholders file claims in the wake of a natural disaster, it could take months before they see progress on their file, because insurers tend to face a backlog of similar requests.

Cloud communications platforms can accelerate the claims process. They feature intelligent routing that automatically connects policyholders with the representative most qualified to handle the claim on the first call and subsequently to the claims adjuster assigned to their case. That saves the policyholder time and the insurer money.

Increase digital engagement for policyholders with RingCentral’s cloud communications platform

Insurers can create digital experiences for policyholders with RingCentral’s cloud communications platform. The secure insurance communications solution allows policyholders to connect with insurers through their preferred channel. It also improves internal collaboration for greater efficiency and better customer experiences. To learn more get a demo. Learn more about RingCentral for financial services at ringcentral.com/financial- services.

For more information, please contact a sales representative. Visit us at ringcentral.com/financial-services or call 844-569-2989.

RingCentral, Inc. (NYSE: RNG) is a leading provider of cloud Message Video Phone™ (MVP™), customer engagement, and contact center solutions for businesses worldwide. More flexible and cost-effective than legacy on-premises PBX and video conferencing systems that it replaces, RingCentral empowers modern mobile and distributed workforces to communicate, collaborate, and connect via any mode, any device, and any location. RingCentral’s open platform integrates with leading third-party business applications and enables customers to easily customize business workflows. RingCentral is headquartered in Belmont, California, and has offices around the world. RingCentral, Inc. 20 Davis Drive, Belmont, CA 94002. ringcentral.com

RINGCENTRAL® EBOOK | CLOUD COMMUNICATIONS: DIGITAL ENGAGEMENT THROUGHOUT THE INSURANCE CUSTOMER LIFECYCLE © 2021 RingCentral, Inc. All rights reserved. RingCentral, Message Video Phone, MVP9, and the RingCentral logo are all trademarks of RingCentral, Inc.