4 Key Benefits of Hosted VoIP for Insurance Companies

Thousands of businesses in every industry and across all sectors have upgraded from traditional phone system to hosted VoIP -- and their only regret is that they did not make the switch sooner!

However, there is one industry in particular where hosted VoIP is making major inroads, and will almost certainly be the standard within a few years; if not sooner: insurance. 

Below, we highlight 4 key benefits of hosted VoIP for insurance companies:

How Can Hosted VoIP Help Insurance Companies

1. Substantial Cost Savings

Faced with growing competition and a more fragmented marketplace due to disruptive technology and regulatory changes, insurance companies are under unprecedented pressure to reduce operating and overhead costs.

A hosted VoIP system can cut annual telecommunication costs by 50%; or in some cases, even more. This is because there is no costly hardware to purchase and install, no ongoing maintenance or upgrade fees, and no long distance costs.

2. Improved Customer Service

While customers in general dislike being put on hold, this aversion reaches a whole new level in the insurance industry, because customers are often calling to purchase insurance, file a claim, or check on a claim. All of these are critical touch points that can, and often do, make or break customer loyalty.

With hosted VoIP, customers can be automatically routed to an available agent, broker or claims representative – regardless of where they are located (i.e. at head office, in a call center, at a satellite office, etc.). The end result is that customers spend little or no time on hold, and insurance companies can fulfil their promise to be responsive and customer-centric.

3. Video & Web Conferencing

Many forward-thinking insurance companies are recognizing that they need to “step out from behind the cubicle” and establish a personal, authentic connection with their customers. Obviously, meeting each customer personally is not viable.

However, hosted VoIP enables the next best thing by linking insurance company employees and customers through web or video conferencing. Both of these are high impact ways to make a personal connection – without having to leave the office.

4. Better Use of Voicemail

Hosted VoIP systems feature voicemail-to-email, which offers several valuable benefits to insurance companies. First, it automatically captures and stores voicemails for reference and record keeping. Second, it allows employees to easily share voicemails as necessary (e.g. a claims adjuster who receives a voicemail from a customer asking about additional coverage can forward it an agent for follow-up). Third, it allows employees to retrieve voicemails much faster and while they’re on-the-go.

Learn More

To learn more about how to exploit the advantages of hosted VoIP in your environment, contact Votacall today. We have extensive experience working with insurance companies, and will empower you to get the service, innovation, quality, reliability and value that you need to move forward.