As Americans continue to re-think the whole question of owning versus renting their homes, the percentages of those who are choosing to rent is surging—across all regions and demographic groups. For Millennial Specialty Insurance (MSI), this definitely a case of being in the right place at the right time.
Working with agent-partners rather than direct-to-consumer, MSI focuses on niche markets, primarily renters and condominium insurance for multi-family housing. With 15 employees and seven contact center agents, the company has written 270,000 policies and generated over $48 million in premiums.
NICE inContact’s cloud-based platform and solutions have given MSI’s contact center the flexibility and efficiency it needs to power continued growth. Call handle times have been reduced, resulting in cost savings. Even with a small staff, agents can work remotely without sacrificing quality or adherence—something that has boosted motivation. And the company continues to provide excellent service, which has increased customer satisfaction.
Because insurance is a complex and highly regulated industry, MSI needed cloud solutions that would enable it to meet stringent compliance regulations. NICE inContact CXone was the only provider that met the requirements. Incorporating CXone’s call recording capability with its own systems has enabled MSI to not only record calls but also to append recordings to customer records and to mask sensitive policyholder financial information within calls—all critical compliance tools for the company.