Insurance Companies (FSI) Can Boost Productivity with Video Conferencing

video conferencing for insurance companies

In the past, face-to-face meetings were the norm. No one in the insurance industry could have envisioned an era in which meetings via video conferencing would become commonplace. In the pandemic era, businesses have learned that they can operate virtually as needed and can boost productivity with video conferencing. Countless industries can benefit from working with online teleconferencing software, including the insurance industry.

Government organizations, numerous international companies, and educational industries are making use of virtual technology, and the medium has become a backbone for financial and insurance services as well.

Insurance Sectors Follow Suit and Reap the Rewards of Video Conferencing

Typically, when insurance brokers are actively seeking new clients, they have to attend multiple one-on-one meetings with prospective clients. Traditionally, these types of meetings resulted in high travel costs to the insurance companies. However, by using a service for online video conferencing, the insurance brokers can conduct their meetings from home offices or dedicated virtual office spaces.

Doing meetings virtually not only reduces unnecessary travel costs but video conferencing also increases the productivity of the insurance agencies. This savings in both cost and time trickles down to the company naturally, thereby making the entire company leaner and more productive. When these benefits multiply over a large workforce, the increase in productivity and savings can transform not just a company but an entire industry.

Video Conferencing Serves the Interests of Insurance Firms and Clients

Insurance brokers and their companies benefit from video conferencing mainly because of the productivity of the broker. By doing virtual meetings, brokers can meet with more clients every day without having to travel. When you cut out the travel time that traditionally occurs with in-person meetings, brokers can schedule back-to-back video meetings through an online video conferencing site.

Having anytime/anywhere access to the online conferencing’s virtual software, sales-driven brokers can even work around the clock to increase productivity and skyrocket their sales targets. In turn, brokers and companies can increase their client base. By the same token, working from a virtual office environment allows brokers to enjoy a better work-life balance because they can schedule their virtual meetings around the schedules of their families.

Similarly, clients also benefit from virtual meetings. Their time matters, too, and scheduling an online video conference meeting that works with their schedule will help eliminate canceled or rescheduled appointments. Since video conferencing allows brokers to connect to more than one party at a time, if there are multiple clients, they do not have to be in the same location. Everyone involved in the process can join the conference from wherever they are.

More Accurate and Faster Claims Processing Procedures

With online video conferencing services that offer a high definition video conferencing capability, the claims processing procedures companies have to do are both more accurate and faster. Besides being more efficient, online video conferences can be recorded and viewed by multiple parties at the same time. This allows for increased transparency in the claims process, thereby creating clients who are more satisfied with the results and happier overall.

Satisfied clients appreciate the higher level of service their insurance companies can provide, and there is an increased likelihood of customer loyalty.

Personalized Service for Clients

Online virtual teleconferencing has a more personal feel than telephone voice calls. With virtual teleconferencing, insurance companies can interact more productively and effectively with their clients. Another benefit to having a video conference is that people typically react more positively when they can see the person on the other end of the call. This serves to create stronger bonds and increased trust between the broker and the client. Again, this trust trickles down and strengthens the bond between the insurance company and the client.

In video calls, both clients and brokers benefit from body language, posture, and facial expressions, which can be an important factor for clients who are deciding about an insurance company. Being able to enjoy a virtual face-to-face meeting safely and comfortably, gives all parties the ability for collaboration and rich full conferencing. An added bonus is that brokers can employ the use of whiteboarding and screen sharing.

Virtual Call Centers

In addition to their broker, with online video conferencing, clients can enjoy an open line of virtual communication with multiple staff members at their insurance agency’s virtual call center. The team will direct queries and claims to the relevant departments efficiently and effectively. Clients want a quick turnaround, and they will be more likely to get one if all of the processes are done virtually.

The fact is, life happens, and there will always be frustrated customers. However, a well-trained online virtual insurance call center agent may be able to ease a client’s concerns with a calm demeanor and positive body language. Most of all, clients want to be heard. If they can see a face on the other side of a tense call, the meeting will likely be much more positive for everyone involved.


Virtual Team Meetings

Besides using online video conferencing to connect brokers to clients, insurance companies can expand the use of this technology to their team meetings and project meetings. If a company benefits from one employee being twice as productive, that benefit multiplied across the entire company can be a game-changer.

Increased Documentation for Compliance

With all of the benefits outlined above, there is another significant benefit. When you do video conferencing—whether for meetings between clients and brokers or team meetings—the meeting is automatically recorded. Documentation like this for compliance purposes is necessary for the insurance industry, but traditional methods for recording interactions and meetings are not as effortless and straightforward as online video conferencing recordings.

Final Thoughts

We recommend that you work with your team to brainstorm ideas for how your company can best utilize video conferencing with the guidance of a reputable online video conferencing company. To get started, contact Seecure today for a free trial.

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