FNOL is the backbone of claims handling, directly affecting a policyholder’s experience with an insurer.
One of the top challenges insurers face today is increasing the efficiency of their FNOL processes, especially when insurance contact centers experience spikes in call volumes during adverse weather events. The size of these spikes can vary depending on the intensity of the adverse weather event. If these spikes aren’t predicted and planned for in advance, they can cause hold times to go up and increase call abandon rates. This can have a considerable impact on the carrier’s brand image. The variability in the complexity of the FNOL calls further complicates contact center management when catastrophic events occur.
For insurers, it is crucial to build an effective forecasting model to predict the inflow of claim-related calls. The projections from these call volume forecast models equip the carriers to optimally utilise their contact center resources, which could result in big savings and loyal, satisfied customers.
This content looks at how insurers can leverage weather data to predict the inflow of claim-related calls, resulting in higher customer satisfaction among policyholders during the claims process.
• The current FNOL process landscape and call volume forecasting.
• A better approach to multidimensional call volume forecasting.
• Additional initiatives and measures to optimise FNOL call volume management.
• Opportunities for insurers.