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How Life Insurance Companies Can Successfully Manage Every Customer Conversation

A customer service representative (CSR) picks up the phone. At the other end, a policyholder wants to reinstate their life insurance policy. Does your CSR have the information they need about this policyholder? Are they going to know what to do, and can they complete the policy change quickly and accurately? Will the right guidelines and regulations be applied so that the interaction is compliant? Can you retain the policyholder at a cost that benefits your business? And will you be able to capitalize on the conversation to increase the individual’s lifetime value?

With this common request, a moment of truth has arrived: The way in which you conduct this conversation will fundamentally alter the policyholder’s relationship with your company. It will create a lasting impression—either good or bad—as it represents that moment when you can deliver an experience that either increases customer loyalty or drives the customer to defect.