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Covid's Work-at-Home Impact on Financial, Insurance & Medical - OrecX - ContactCenterWorld.com Blog

Covid's Work-at-Home Impact on Financial, Insurance & Medical

The Covid-19 pandemic has radically changed the day-to-day working landscape of the Financial, Insurance and Medical industries. While its impact on Medical may seem a bit more obvious, there are various scenarios which you may not be thinking of. The same goes for Financial and Insurance professionals. Most of these individuals are having to fulfill their work duties from home, utilizing VoIP, softphones, mobile phones or landlines - and sometimes a combination thereof. This can cause some unknowing issues.

What this means is that many critical business interactions with customers, prospects and partners are going unrecorded. This absence of proper call recording software can have a significant impact on an organization's ability to capture some or all of these conversations to ensure regulatory compliance (HIPAA, PCI-DSS, GDPR, MiFID II, TCPA...) or prove what was said in order to resolve a potentially costly dispute. 

Just think for a minute about the types of interactions professionals in these industries might be having, which their organizations would surely want (or need) to capture and store: 

Financial:

  • Stock orders from investment clients (these interactions must be recorded under MiFID II and similar U.S. financial regulations)
  • Financial advice from stockbrokers and financial planners (again, many of these conversations must be captured)
  • Discussions around prices, solicitations, bids and/or offers (must be recorded under MiFID II and similar U.S. regulations)
  • Collections calls on overdue debt (must be recorded under the U.S. Fair Debt Collection Practices Act to ensure protection against abusive debt collection practices)

Insurance:

  • Conversations around specific reimbursement amounts for a filed claim
  • Annual premium quotes for new coverages
  • Registration of a new vehicle (significant liability issues could arise if proper coverage was not granted and an accident occurs)
  • Interactions about life insurance policy payouts with bereaved loved ones who lost a family member

 

Medical:

  • Psychiatrists diagnosing a severely depressed patient
  • Primary care physicians prescribing over-the-counter medication to a sick patient 
  • Doctors offering medical advice to a patient showing signs of Covid-19 infection
  • Veterinarians advising dog owners how to care for their sick pet

It is very easy to see how problematic some of these critical discussions can be if they are not properly recorded, stored and accessible when needed to resolve a dispute or prove compliance, for example. What's more, some of these interactions must be recorded under regulatory guidelines. Still, some conversations must be captured, while only recording certain portions of the calls. For instance, financial interactions in which a credit card number of given over the phone cannot have that portion of the interaction recorded. The same goes for insurance or medical interactions in which sensitive patient information, e.g., is given. These sensitive interactions require call recording software which can properly pause/resume or mask or mute sensitive portions of conversations. 

During these times of worry and uncertainty, make sure your work-at-home employees are being properly recorded for peace of mind and to mitigate avoidable liability issues.

Source: https://blog.orecx.com/blog/covids-work-at-home-impact-on-financial-insurance-medical

Publish Date: April 6, 2020 5:00 AM


2020 Buyers Guide Help Desk Software

 
1.) 
eGain Corporation

eGain CallTrack™
eGain CallTrack™ is a dynamic call tracking and case management solution that helps companies provide quick, high-quality, and cost-efficient resolution of customer issues across traditional and emerging interaction channels. It is one of the many innovative customer interaction products in eGain Solve™ suite, the unified customer engagement and knowledge management software suite, which helps businesses transform their traditional call centers into omnichannel customer engagement hubs. eGain CallTrack will enable you to track, manage and resolve cases and maintain service level agreements (SLA), across channels.

2.) 
Knowmax

Knowmax
Knowmax is an omnichannel knowledge management platform. Our mission is to transform contact centers into resolution centers and drive customer self service.
The platform is an industry-agnostic enterprise-grade knowledge platform with components helping in easy findability of actionable information at the right time across the desired touchpoint.
PH: +91 9702626568

3.) 
Nuxiba Technologies

CenterWare
Nuxiba's Help Desk Software is ideal for delivering top-level contact help desk services. It not only tailors to your existing technology resources but also allows you to set staff priorities that forward clients to the most knowledgeable agents.

Give personalized assistance, and analyze performance with our real-time monitoring, recording, and reports. Integrate Salesforce or VTiger CRM systems, be TCPA compliant, protect your cardholder's data during calls, and more!

Request a quote or demo today and start the journey to increase your first-contact resolution percentages in less than three months!

4.) 
OneDesk

OneDesk's software combines Helpdesk & Project Management into one application. No need to purchase, integrate and switch between applications. Your team can support your customers and work on projects in one place. Aimed at SMBs as well as departments at large enterprises, OneDesk is frequently used by project managers, customer service, IT, professional services and more. This easy-to-use, feature-rich, and highly configurable software can manage both ticket & task workflows.
PH: (514) 731-6878
 



View more from OrecX

Recent Blog Posts:
The Many Advantages of Modern and Open Call Center PlatformsNovember 18, 2020 5:00 AM
Remote Agent Recording is Now ImperativeOctober 14, 2020 5:00 AM
Audio Recording for Speech Analytics: Buyer Beware!July 20, 2020 5:00 AM
Call Recording Laws you Need to know!July 13, 2020 5:00 AM
Value in Analyzing 5.25M Spoken Customer/Agent Words a DayJune 2, 2020 5:00 AM
Hi-Fi Audio Capture Powers CX through Speech Analytics, BI and AIMay 20, 2020 5:00 AM
'Open' Audio Capture for 'Speech Analytics as a Service'May 4, 2020 5:00 AM
At-Home Call Recording & ManagementMay 1, 2020 5:00 AM
Covid's Work-at-Home Impact on Financial, Insurance & MedicalApril 6, 2020 5:00 AM
Call Recording for BPOs: What you Need to KnowFebruary 10, 2020 5:00 AM

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