Customer Service as a Competitive Advantage: IBM Enterprise Content Management Solutions in Insurance
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Overview: As market and business conditions change, insurance companies must cope with a variety of issues: increasing competition, radical re-alignment of markets as a result of deregulation, aging demographics, catastrophic events, corporate governance and regulatory requirements. While addressing these challenges, it has become increasingly difficult to compete on the basis of price and product. One area that can set an insurance company apart is how it provides customer service. Unlike other types of companies, insurance companies are burdened by legal and regulatory requirements that impact how they deliver customer service. Superior customer service exceeds the expectations of customers, agents, brokers and policyholders for the timely resolution of their inquiries, whether it is a simple address change, change of beneficiary or determining the status of a pending claim. IBM Enterprise Content Management (ECM) gives insurance companies the ability to create and manage electronic files, store documents, distribute information and process payments. A self service approach offers efficiencies, reduces the overall cost of handling customer transactions and reinforces the competitive differentiation for the company as more customers, agents and/or brokers navigate the Web. This paper explains how to excel at customer service using the best tools for the task.