Since 2009 CoTé has been partnering with, and providing services to, leading Insurance companies. These companies have recognised four key needs:
- comply with all legislative and regulatory requirements and manage risk.
- interact and communicate far better with their policyholders, brokers, authorised representatives, claimants and parties related to claims, suppliers, partners and other insurers.
- quickly, efficiently, inclusively and consistently introduce new communications, forms, PDSs, KFSs and brochures and modify or globally change existing communications.
- take full advantage of all customer outbound and inbound contact methods: (mail, email, SMS, social, web) and archive all customer communications as complete records.
If you want to keep your existing policyholders and attract new ones, your business must offer seamless, customer focussed digital interactions. Today’s customers expect a great experience that is easy, quick, reliable, convenient, empathetic and personal, whether they are renewing or altering their policy, joining for the first time, or making a claim.
Rising customer expectations and ever-changing regulatory requirements, ageing legacy systems, and increasingly laborious costly manual processes make delivering a great customer experience difficult. We not only understand this but know how to change it.
Insurers have generally invested heavily in expensive on-premises CCM software and hardware, or moved to hybrid cloud or fully cloud-based solutions, to meet their customer and compliance obligations without understanding if the solution could really meet their current and future end-to-end communication management requirements.
Similarly, insurers that have outsourced their customer communications to external print and mail service providers often fail to understand if those providers actually meet current needs or are positioned to support future needs. They typically fail to understand the real costs and risks involved in outsourcing. In addition, insurance companies:
- often lose control over their intellectual property – their communication processes (information and approval flows; error handing and exception management), templates, content and business rules.
- can be in breach of regulatory requirements if those providers can not substantiate their business continuity obligations.
Insurers must take advantage of advancing technology; we provide the power to deliver segment-defining experiences through our enterprise Communications-as-a-Service platform, virsaic™.
virsaic offers insurers digital transformation and is configurable by design. It manages both outbound communications and inbound interactions facilitating straight through processing for a better customer engagement. virsaic also minimises risk by offering, for Australian insurers, an APRA and ASIC compliant platform to manage customer communications.
However, should insurers have partial solutions in place virsaic can readily complement those solutions with one or more of the virsaic products. For example, if an insurer has:
- a solution for inbound communication ingestion, scanning, conversion and classification ..then virsaic Interpret is optional.
- a set of tools to create, manage and approve template/content specifications ..then virsaic Specify can be left unused (it is provided as part of the base subscription)
- a set of tools for comprehensive, easy functional and regression testing of communications ..then virsaic Assure is optional.
- a communication composition solution …then virsaic Communicate is optional
- a communication distribution solution that optimises output, tracks delivery and manages exceptions ..then virsaic Distribute is optional
- a store ..virsaic’s inbuilt storage – used primarily for holding specifications – can be left unused as a secure and accessible repository for all inbound and/or outbound correspondence (it is provided as part of the base subscription)