A true understanding of a product offering in this space begs only three questions – especially for those now contemplating the introduction of a technology Infrastructure to help power their contents division – and specifically – which solution to choose.
The three most important questions any serious contents organization MUST ask/inquire/understand when choosing contents software.
“How much faster will this software make us? How much more can we pack out & inventory with our current team?”
The first question – the most important question – begs an understanding of the management of contents. Specifically, that only one variable dictates first how much revenue a contractor can generate. That variable is “how quickly can they packout and inventory contents?”
Its simple math really: If you can condense your traditional 5 day packout into a 2 day or less packout, you now have an opportunity to packout 3 times as much. You just took your company from 1 Million to 3 Million. Contractors who understand, appreciate, and look for tools which solve this equation are serious about the business of contents and growing their business. For them, the next two questions also apply.
“How does the software help the contractor grow and handle volume?”
When we move from famine to feast, and our business volume grows, what does the software or technology infrastructure provide to help manage each and every single claim – from tip to tail – without the contractor dropping the ball? After all, as a contractor, we are here to generate revenue, profit and grow. This question demands that the contractor look well past the packout portion of the technology. Indeed, while it starts with the packout, it is what you can do with that packout data that is all important. Many contractors at this stage in comparing software technology do not think to look inside the technology for available tools to handle serious volume – it’s just not part of their shopping paradigm.
Volume processing presents a whole new set of challenges and seasoned processors appreciate the little things. It is about the little things. Large contents companies have learned how little things, the small steps, add up to big efficiencies! You will want sophisticated software that helps you manage hundreds of claims, quickly and efficiently, reduce administrative burdens, and allow for exponential growth. There is a reason why 90% of our clients are the largest contents processes in Canada, USA, & Australia.
“What does the software provide to help deliver phenomenal customer service at every touch point?”
Tripling your business volume sounds amazing. Handling that volume builds confidence and strengthens your organization. But if you can’t keep the insured happy; if you can not deliver a rich customer experience; then you can not retain any of the new business you have generated.
The final major question to ask is “What does the software or technology infrastructure have that addresses the customer experience? Think of this: You have 50 claims a month of all sizes; each claim is live for about 5 months (where live = the customer may call for something multiple times); this gives you 250 claims where an insured may want something – likely a single item – returned sooner: How do you consistently deliver on each request? The art of customer service is a simple concept: the ability to treat each customer as if they are your only customer. This last question separates iCAT from the competition. Innovative technology that dramatically improves efficiencies, gives the carrier more data and information while creating a new customer experience.