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57% of customers annually change their insurer. . . . Are you part of this statistic?

Insurance firms have a lot to consider when implementing a CRM platform. How can we save time & money? How do we measure ROI? What can CRM really do for us?

From Customer Acquisition, Management and Retention, to Claims Management, Auditing & Compliance.... CRM can help.

With 20+ years of experience in financial services, and proven experience implementing CRM with Euler Hermes and ACE Insurance to name a few, Hyphen8 have the knowledge and understanding of the insurance sector and will address the common challenges that your business encounters on a daily basis.

  • Know Your Customer
  • Claims Management
  • Compliance & Regulation
  • Customer Satisfaction & Retention
  • Fraud Detection & Risk Management
  • Sales Pipeline Management
  • Multi-Channel Customer Communication
  • Competitor Advantage

Know Your Customer

With one single, logical and comprehensive 360º view of the “customer” business efficiency and, as a result, business processes become seamless and consistent. Save your staff time and keep them informed at one click of a button on your current lead and customer base:

  • Current & Historic Sales Pipeline information,
  • Comprehensive Claims Management history,
  • Key Personal & Accounting information,
  • Full Communication & Activity history.

Categorise your key client and easily flag fraudulent or potential risk customers.

Claims Management

The “Claims Experience” is the primary driver of customer satisfaction and loyalty. Failure to deliver a compelling, positive and fair experience directly leads to customers attrition with Claims Management often seen as the key “differentiator”. With CRM you will:

  • Reduce claims assessment and processing times
  • Reduced claims administration overhead costs
  • Higher customer satisfaction, reduced complaints and higher retention
  • Continually improve process using customer feedback

Compliance & Regulation

Adherence to regulatory and other compliance requirements is a key day to day task for any insurer. Remain complaint with centrally stored information, consistent processes for compliance monitoring & recording and workflow management to allow seamless agent auditing and compliance.

Utilise the Hyphen8 custom dialog scripts for compliance recording, which provide quick visual feedback on any compliance activity with all staff. Work with Hyphen8 to introduce a compliance calculator, making scoring and evaluating compliance procedures quick and easy.

Customer Satisfaction & Retention

57% of insurance customers change their insurer on an annual basis - you can ensure you are not a vicitim of this statistic by using Hyphen8's CRM for Insurance solution to provide a complete, consistent and tailored end-to-end client management process.

Save time and improve efficiency by combining enquiry management with a targeted and informative sales cycle and keep in contact with the customer for the duration of the policy to ensure they remain loyal. The sales cycle in a nut shell - Hyphen8 provide automated processes to cater for different elements of this cycle that ensure the customer has a personal, tailored experience throughout.

Then, when a claim is brought, treat it with urgency and professionalism with point in time automated responses, multi channel communication platforms allowing the customer to quickly and easily log a claim, and become risk adverse with automated fraudlent detection processes.

Fraud Detection & Risk Management

A large drain on daily resource is the need to filter out nuisance calls, fraudulent or inaccurate claims while remaining risk adverse. Offset these risks by

  • Implementing consistent business processes for staff to adhere too
  • Enable system wide auditing for change control
  • Use automated routines to quickly and easily flag potential fraudulent claims or policies
  • Filter nuisance and time wasting calls & communications by easily categorising customers

Sales Pipeline Management

U.K. insurance giant, LV sees 66 percent reduction in sales administration.....

Microsoft Dynamics CRM with the Hyphen8 for Insurance solution will ensure that your business reduces sales administration time and cost. The entire sales cycle is managed from the one "customer" record that will enable

  • Enquiry Management - CRM provides consistent and intuitive process for enquiry creation, management and reporting. Use customised business process flows to ensure your sales process remains consistent and compliant while categorising them on a variety of attributes (Ranking, loyalty, geography etc) to enable automated assignment to members of the sales team.
  • Opportunity Management - Maintain the consistency for the agent and the customer using company defined sales processes that are proven to result in policy sales. Using advanced analytics, charts and dashboards sales forecasts and pipeline reports are viewable at a click of a button with dynamic generation of these reports saving valuable time and effort. Forcast with accuracy to increase profitability, efficiency and forward thinking.
    Automate the policy document generation and distribution to the customer to increase customer satisfaction and communication all the while saving you & your team valuable time and money.
  • Policy Management - Once the hard work is complete and a policy has been sold to a customer, ensure that there is company wide visibility of that policy and the relevant details. With integrated document management and automated routines visibility of the a customers current and historic policy information and documents has never been easier to find. Take customer care and policy management one step further by introducing automated routines for policy expiration and feedback follow-up

Multi-Channel Customer Communication

With an ever changing technology landscape ahead of us and customer convenience being key to great customer service the need to offer flexible and agile multi channel communication platforms remains a priority.
At the same time there is the need for agents to be able to access data from mobile/tablet/laptop devices from any location and at any time.

Microsoft Dynamics CRM will provide customers the ability to communicate via a telephone or mobile device for call or text tracking, email dedicated salles and customer service teams that automatically track against that customer record, use social media, such as Twitter or Facebook, to communicate and engage further with customers and provide self service portal technology to take customer service and multi channel customer experience to the next level.

Competitor Advantage

Using Microsoft Dynamics CRM and Hyphen8 for Insurance you can gain competitor advantage through …

  • Reduced claims assessment and processing times
  • Reduced claims administration overhead costs
  • Higher customer satisfaction, reduced complaints and higher retention
  • Improved quality in decision making (approvals vs. declines)
  • Enhanced capability to upsell/ cross-sell new products
  • Improved and optimised resource utilisation
  • More agile business

Interim Project Management

You may already have your own team or have engaged the services of a systems integrator to implement your cloud solution(s).

But do you have in-house expertise in managing salesforce.com assignments, so that you can be assured that your team is high-performing, and delivering to best practice and quality standards?

Hyphen8 also offer high-calibre, specialist and experienced programme and project managers, with expertise in both waterfall and agile approaches, combined with extensive salesforce.com and other cloud solution implementation experience.

Book a 30 minute call with our team to learn more and discuss how we could help you. Contact us

Why Us?

To help insurance providers implement a platform that will enable them to transform and optimise their business by delivering a superior, cost-effective and high value, multi-channel customer experience.

Together we will;

  • Develop and implement customised strategies and plans to meet customer and business objectives
  • Ensure high levels of end-user adoption across your enterprise
  • Reduce costs and establish ways of working to maximise ROI
  • Drive better and more differentiated customer experiences
  • Improve customer retention and satisfaction

Our services and solutions framework has been designed to achieve these aims, and is based on partnering with you to support the full lifecycle of your solution.

Download the Claims Management solution overview below!

  • Claims Management
  • SmartStart for Insurance
  • Whitepaper

A Unique approach to implementation

Through a templated solution for claims management, based on years of industry and implementation experience, Hyphen8 is proud to offer a solution that combines everything required to implement a CRM application with Claims Management:

  • Monthly Billing Model Up front, nothing hidden, a per user/per month billing model that combines the Microsoft CRM licence, the Hyphen8 support costs and Claims Management solution
  • Full Claims Lifecycle Receipt and assignment of customer claim, action, investigation, negotiation, settlement processes all defined
  • Customer Retention Higher customer satisfaction, reduced complaints and improved efficiency due to better, faster decision making
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Get up & running in just 4 weeks

Through SmartStart for insurance, part of the Hyphen8 SmartStart suite, you get a fully managed service designed to help resolve common business challenges of the insurance sector by implementing a powerful, cost effective CRM system in a rapid timefram.
With our insurance specific programme of consulting, application development and support services, implemented in just 4 weeks, you will get;

  • Thorough analysis of your business requirements and processes combined with industry insight & experience
  • Comprehensive implementation experience to help reduce administration overheads, improve customer relationships & retention and improve pipeline forecasting
  • Provide you with expert ongoing support to ensure your solution is always fit for purpose, maintains highest adoption levels, and delivers continuous return on your investment
hyphen8 insurance cloud
The UK economic climate remains rocky, with no immediate sign of a return to real growth. Our digital economy has shifted power from the insurance sellers to the insurance buyer. And, while interest rates lie on the floor, the pressure continues to bear on margins.

It is therefore essential, in this increasingly competitive market, for insurers to align their people, processes and systems to their customers’ needs, putting the customer at the heart of everything they do.

This paper discusses some of the challenges insurers face and how, with cloud computing, they can serve a better customer experience – to drive retention rates, dampen operational pains and attract a higher share of the customer wallet.

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