At a time of overall slowness in the life insurance industry, cross-selling to orphan accountholders can provide a breath of fresh air, especially for companies with high agent turnover
and big caseloads of severed service relationships.
Coincidentally, agent turnover
seems to be exacerbating the technology troubles: Employees are less experienced overall, including in the use of WFM software; 18.5 percent of respondents say they have had less than 10 hours of total training on the technology, compared to 13.3 percent in 2006.
Consider the effects of two of the major issues facing the insurance sector today: agent turnover
and heightened competition.
In addition, by offering more flexible scheduling and the convenience of working from home (including the advantage of gas and other commute-related cost savings), organizations can boost morale and loyalty, thus reducing agent turnover
. This also has the side-benefit of reducing organizational costs associated with recruiting, hiring and retraining new agents.
The tool, which can help reduce agent turnover
20% or more, enables call centers to improve agent retention by hiring employees based on their compatibility with organizational culture, according to Limra, a worldwide association providing research, consulting and other services to insurers and financial service companies.
It's no wonder that subscribers don't feel "loved," which explains high agent turnover
rates in the first year.
Hiring new agents with specific shifts in mind improves the focus in the recruitment process and avoids the premature agent turnover
that typically results from unmet, unspoken expectations on both sides.
By combining agents' scheduling requests and any last-minute changes that are made, Interaction Optimizer is able produce a schedule to balance the interaction demands with the agent preferences and skills, the latter being a step that has been shown to reduce agent turnover
and keep call center employees happier.
Data silos, differing inbound and outbound applications and a patchwork of phone hardware made it more of a nightmare than coping with agent turnover
It can be used as an adjunct to scheduled e-learning to help improve overall call center performance, decrease agent turnover
, and leverage a call center's existing investment in e-learning technology.