Inbound/Outbound/Blended BPO Campaign for PolicyBazaar.com

Project Proposal: Call Center Services for PolicyBazaar

Introduction

PolicyBazaar.com, India’s leading insurance marketplace, is seeking a qualified and experienced call center partner to manage outbound calling campaigns for acquiring new customers for various insurance policies. This proposal outlines our requirements, your responsibilities, the onboarding process, and the performance-based compensation structure.

Project Overview

PolicyBazaar.com offers a comprehensive suite of insurance products, including car insurance, health insurance, life insurance, travel insurance, and more. Through this partnership, we aim to leverage your outbound calling expertise to reach potential customers, educate them on our offerings, and seamlessly onboard them onto the PolicyBazaar.com platform with the ultimate goal of increasing our customer base and insurance policy subscriptions.

Your Responsibilities

  • Campaign Management: You will be responsible for developing and executing outbound calling campaigns aligned with PolicyBazaar.com’s marketing and sales objectives. This includes creating call scripts, establishing call protocols, and ensuring compliance with industry regulations.
  • Agent Recruitment and Training: You will recruit, hire, and train qualified call center agents who possess excellent communication skills, strong product knowledge, and a customer-centric approach. Training will include PolicyBazaar.com products and services, effective sales techniques, objection handling, and customer service best practices.
  • Outbound Calling: Agents will make outbound calls to a pre-defined list of potential customers, following the approved call scripts and protocols. Their primary goal will be to initiate conversations, introduce PolicyBazaar.com and its insurance offerings, address customer queries, and ultimately guide them towards subscribing to relevant insurance policies.
  • Data Management: You will manage all call data effectively, including call recordings, call logs, and customer information. This data will be used for performance evaluation, campaign optimization, and lead generation.
  • Reporting and Analytics: You will provide regular reports on key performance indicators (KPIs) such as call volume, conversion rates, customer satisfaction scores, and successful on boardings. These reports will help us analyze campaign performance and identify areas for improvement.
  • Quality Assurance: You will implement a robust quality assurance process to monitor agent calls and ensure adherence to call scripts, product knowledge accuracy, and customer service standards.
  • Technical Infrastructure: You will provide a reliable call center infrastructure equipped with industry-standard technology, including CRM software, call routing systems, and employee performance management tools.

Breakdown of Call Center Responsibilities

The proposal outlines several key responsibilities for the call center to ensure a successful outbound calling campaign for PolicyBazaar.com. Let’s delve deeper into each point:

  1. Campaign Management:
  • Developing and Executing Campaigns: This involves creating a strategic plan for the outbound calling initiative, including defining target audiences, call frequency, and messaging. The call center will need to tailor campaigns to specific insurance products and customer segments.
  • Creating Call Scripts: Developing standardized scripts that guide agents through customer interactions. These scripts should be clear, concise, and persuasive, focusing on introducing PolicyBazaar.com, highlighting product benefits, and addressing customer concerns.
  • Establishing Call Protocols: Defining clear guidelines for how agents should conduct calls, including introductions, greetings, call objectives, information gathering techniques, objection handling strategies, and closing procedures.
  • Compliance with Regulations: Ensuring all call center activities adhere to relevant regulations regarding telemarketing practices, data privacy, and fair lending. This includes obtaining necessary consent for contacting customers and avoiding discriminatory language.
  1. Agent Recruitment and Training:
  • Hiring Qualified Agents: Recruiting individuals with excellent communication skills, a pleasant demeanor, and the ability to build rapport with customers over the phone.
  • Product Knowledge Training: Providing comprehensive training on all insurance products offered by PolicyBazaar.com, encompassing features, benefits, exclusions, pricing, and eligibility criteria. Agents should be able to answer customer questions confidently and accurately.
  • Sales Techniques Training: Equipping agents with effective sales techniques to present insurance products persuasively and guide customers towards making informed decisions. This includes objection handling strategies and techniques for overcoming customer resistance.
  • Customer Service Training: Instilling a customer-centric approach in agents, emphasizing active listening, addressing customer concerns effectively, and fostering a positive brand image for PolicyBazaar.com.
  1. Outbound Calling:
  • Making Outbound Calls: Agents will actively reach out to a pre-defined list of potential customers provided by PolicyBazaar.com. Following approved call scripts and protocols, they will initiate conversations, introduce PolicyBazaar.com and its offerings, answer customer inquiries, and ultimately aim to convert them into paying subscribers of relevant insurance policies.
  1. Data Management:
  • Call Data Management: Effectively managing all call data generated during the campaign. This includes call recordings, call logs, customer information, and performance metrics. This data will be crucial for evaluating campaign effectiveness, identifying areas for improvement, and generating leads.
  1. Reporting and Analytics:
  • Regular KPI Reporting: Providing PolicyBazaar.com with regular reports on key performance indicators (KPIs) such as:
    • Call Volume: Total number of calls made by agents during a specific period.
    • Conversion Rates: Percentage of calls that result in successful customer onboarding (policy subscriptions).
    • Customer Satisfaction Scores: Evaluations collected from customers regarding their experience with the call center agents.
    • Agent Performance Data: Metrics that track individual agent performance, such as call duration, conversion rates, and customer satisfaction scores. This data is used to identify top performers and areas for improvement within the call center team.
  1. Quality Assurance:
  • Monitoring Agent Calls: Implementing a robust quality assurance program to monitor and evaluate agent calls. This involves reviewing call recordings to assess adherence to call scripts, product knowledge accuracy, customer service skills, and overall effectiveness in achieving call objectives.
  • Providing Feedback: Offering constructive feedback to agents based on call monitoring evaluations. This feedback helps improve agent performance, address skill gaps, and ensure consistency in delivering high-quality customer service.
  1. Technical Infrastructure:
  • Reliable Call Center Infrastructure: Having a dependable call center infrastructure equipped with industry-standard technology is essential. This includes:
    • Automatic Call Distribution (ACD) System: Routes incoming calls to available agents based on pre-defined rules.
    • Interactive Voice Response (IVR) System: Provides automated menus for self-service options or routing callers to appropriate departments.
    • Call Recording Software: Records all interactions between agents and customers for quality assurance purposes and training.
    • Customer Relationship Management (CRM) System: Manages customer data, tracks interactions, and facilitates efficient campaign management.
    • Agent Performance Management Tools: Tracks and analyzes individual agent performance metrics.

Compensation Structure

We are proposing a performance-based compensation structure to incentivize successful customer onboarding. You will receive a monthly fee per call center seat, with additional bonuses based on the number of conversions secured (i.e., new customers who successfully subscribe to an insurance policy).

  • Monthly Payout/seat: Rs. 40,000 – Rs. 50,000 per seat (negotiable based on the final agreement and service package)
  • Conversion Bonus: A pre-determined bonus amount will be awarded for each successful customer onboarding (conversion) completed by your agents. The specific bonus amount will be further discussed and agreed upon during contract negotiations.

Onboarding Process (5 Days)

PolicyBazaar.com is committed to a streamlined and efficient onboarding process to ensure your team is operational within five business days. The process will involve the following steps:

Day 1:

  • Contract Signing: Finalization and signing of the official partnership agreement.
  • Data Access and Security: Provision of secure access to PolicyBazaar.com’s customer relationship management (CRM) system and training materials.
  • Initial Training: Introduction to PolicyBazaar.com products and services, company culture, and basic call center operations.

Day 2 & 3:

  • In-Depth Product Training: Comprehensive training on all insurance products offered by PolicyBazaar.com, including features, benefits, exclusions, pricing, and customer eligibility.
  • Call Script Development: Collaborative development of customized call scripts tailored to specific insurance products and target audiences.
  • Role-Playing Exercises: Intensive call simulations to practice sales conversations, objection handling, and customer service scenarios.

Day 4:

  • Quality Assurance Training: Training on call monitoring procedures, quality assurance best practices, and feedback mechanisms.
  • Pilot Launch: Controlled launch of outbound calls with a limited number of agents under close supervision from PolicyBazaar.com and your team.
  • Feedback and Refinement: Analysis of pilot launch results, identification of areas for improvement, and refinement of call scripts and agent training based on the pilot outcomes.

Day 5:

  • Full Launch and Ongoing Support: Official commencement of the outbound calling campaign with all trained agents. PolicyBazaar.com will provide ongoing support throughout the campaign to ensure success.

Training Materials

PolicyBazaar.com will provide a comprehensive set of training materials to equip your call center agents with the necessary knowledge and skills.

Training Materials 

  • Product Brochures and Presentations: Detailed information about each insurance product offered on PolicyBazaar.com, including brochures, presentations, and product guides.
  • Customer Eligibility Criteria: Clear guidelines on customer eligibility requirements for various insurance policies based on factors like age, health status, driving history, etc.
  • Comparison Tools and Calculators: Training on PolicyBazaar.com’s online comparison tools and premium calculators to assist customers in finding the best insurance options for their needs.
  • Competitor Analysis: Information on competitor offerings and key differentiators of PolicyBazaar.com’s insurance products and services.
  • Frequently Asked Questions (FAQs): Comprehensive list of frequently asked questions from customers regarding various insurance policies, along with clear and concise answers.
  • Call Scripts and Templates: Pre-designed call scripts tailored to specific insurance products and target audiences. These scripts will serve as a guide for agents while allowing for customization based on individual customer interactions.
  • Call Monitoring and Feedback Tools: Access to call recording software and feedback mechanisms to monitor agent performance, identify areas for improvement, and provide constructive coaching.

Project Management and Communication

To ensure a successful partnership, we propose establishing a dedicated communication channel between PolicyBazaar.com and your call center team. This may involve:

  • Weekly Meetings: Regular meetings to discuss campaign progress, address challenges, share best practices, and ensure alignment with overall goals.
  • Performance Reports: Delivery of comprehensive performance reports highlighting key metrics such as call volume, conversion rates, customer satisfaction scores, and agent performance data.
  • Escalation Process: A clear process for escalating complex customer queries or technical issues to the appropriate PolicyBazaar.com team for resolution.

Compliance and Security

PolicyBazaar.com is committed to maintaining the highest standards of data security and customer privacy. You will be required to adhere to all applicable laws and regulations regarding data protection, telemarketing practices, and fair lending. This includes:

  • Data Security Measures: Implementing robust data security measures to safeguard customer information entrusted to your call center, such as encryption, access controls, and regular security audits.
  • Telemarketing Compliance: Following all telemarketing regulations, including obtaining necessary consent for contacting customers and adhering to do-not-call registries.
  • Fair Lending Practices: Ensuring all agents comply with anti-discrimination laws and regulations in presenting insurance products to potential customers.

Selection Process

PolicyBazaar.com will evaluate proposals from qualified call center partners based on the following criteria:

  • Experience and Expertise: Proven track record of success in managing outbound calling campaigns for similar products and services in the Indian market.
  • Infrastructure and Technology: Possession of a reliable call center infrastructure equipped with industry-standard technology for efficient campaign execution.
  • Quality Assurance Process: A robust quality assurance program to ensure consistent delivery of high-quality customer service.
  • Agent Recruitment and Training: Capability to recruit, hire, and train qualified call center agents with excellent communication skills, strong product knowledge, and a customer-centric approach.
  • Performance-Based Pricing: A proposed compensation structure that incentivizes successful customer onboarding and aligns with PolicyBazaar.com’s business objectives.
  • Compliance and Security: A commitment to adhering to all data security, privacy, and telemarketing regulations.

Next Steps

PolicyBazaar.com invites you to submit a detailed proposal outlining your qualifications, experience, call center infrastructure, agent recruitment and training plan, and proposed compensation structure. We look forward to partnering with a qualified call center partner who shares our commitment to delivering exceptional customer service and achieving outstanding results.

Additional Considerations

This proposal serves as a comprehensive framework for the partnership. Here are some additional points to consider for a successful collaboration:

  • Minimum Call Volume: Establishing a minimum call volume per agent or per seat to ensure efficient campaign execution.
  • Campaign Optimization: Regular review and optimization of call scripts, dialing strategies, and agent training based on campaign performance data.
  • Technology Integration: Exploring the potential for integrating your call center technology with PolicyBazaar.com’s CRM system for seamless data exchange and improved campaign management.
  • Incentive Programs: Implementing additional incentive programs for your call center agents beyond the conversion bonus to boost morale, promote healthy competition, and encourage exceptional performance.
  • Long-Term Partnership: Building a long-term, mutually beneficial partnership based on trust, open communication, and continuous improvement.

By working collaboratively and addressing these considerations, we can create a highly successful outbound calling program that significantly expands PolicyBazaar.com’s customer base and drives subscription growth for various insurance products.

For On- Boarding of your call center, please connect with your assigned project manager.

Thank You,