IVR Payments: 10 Things Insurers Should Know

Are you offering your insurance customers they payment options they want? Interactive Voice Response (IVR) payments are a great option to include. Here are 10 things you should know about IVR payments.

  1. IVR payments can be made day or night. Do you have representatives working 9:00 to 5:00? Guess what – that’s when many of your customers are working, too. They might want to make payments in the evening, late at night, or on the weekends. IVR systems provide a 24/7 payment option that fits your customers’ schedules.

  2. IVR payments alleviate waiting times. Nobody likes waiting on hold for a representative. With automatic IVR payment processing, your customers can make payments quickly, without having to wait for the next available representative.

  3. IVR systems can handle high volumes. Wait times are an even bigger problem during periods of high call volume – unless you use IVR technology. A human representative can only handle so many calls, but an IVR system can adapt to high call volumes.

  4. Many policyholders still prefer phone communication. You’ve probably heard that many members of the younger generations dislike talking on the phone. That’s true, but many customers, especially those who belong to older generations, are used to talking on the phone and still find it convenient. For example, a survey from High Speed Internet found that people over age 35 don’t generally mind talking on the phone.

  5. IVR systems are ideal for simple, routine interactions like payments. When customers are calling for help with a difficult problem, they may want to connect with a human representative quickly, but for routine transactions like payments, IVR can provide a convenient, fast option.

  6. Speakers of various languages can use IVR payments. Language barriers can get in the way of good customer service. With IVR systems, customers can easily select their language preference, so nothing gets lost in translation.

  7. You can customize the user experience in your IVR system. You may want customers who call to hear a specific greeting or to receive important information. You can customize IVR greetings and prompts so that customers always get the right message.

  8. IVR payments can be integrated into your current phone system. If you prefer a standalone option, that’s possible too.

  9. IVR options can free up time at your call center. If your call center representatives are busy taking payments, they’ll have less time to deal with other issues. This can lead to longer wait times for customers experiencing real problems – and that can lead to unhappy customers.

  10. IVR payments complement other payment options. Some customers like making payments by phone. Others prefer making online payments. By offering multiple options, you can keep all of your customers happy.

Ready to get started with IVR payments? Contact us to learn more.