If you are a business owner who constantly finds themselves under the burden of to-do lists, a virtual assistant can come in handy for you.
Virtual assistants are skilled professionals who execute every task with precision. This means, hiring one can help you free up time, become more productive, focus on core business activities, and reduce costs.
In the case of an insurance business, a virtual assistant’s role can get even more versatile. These seasoned experts can double up as your personal assistant, marketing officer, client relationship manager, accountant, and whatnot!
Here’s a list of 15 important tasks an insurance virtual can do for you.
An insurance VA can help you explain different policies to all your clients, depending on their needs. This includes communicating every policy's terms and conditions, eligibility requirements, offerings, exclusions, and other finer details. They can also assist your clients in choosing a policy that best fits their unique requirements.
Benefits: This helps ensure your clients receive a thorough overview of all policies without missing out on any critical detail.
Tools/Skills Required: Deep knowledge of all different policies.
How It Helps: A detailed policy explanation ensures that clients receive the right assistance to make informed decisions and buy the right policy.
An insurance VA can help your customers manage their insurance policies. This includes assisting with policy renewals, providing information about coverage details, and processing changes such as adding or removing insured items, updating personal information, and adjusting coverage limits. The assistant can also send reminders about policy expiration dates and offer assistance with policy upgrades or downgrades.
Benefits: This helps ensure the policies of all clients are up-to-date and accurate.
Tools/Skills Required: Strong attention to detail and familiarity with CRM tools like HubSpot and Salesforce.
How It Helps: Efficient policy management reduces the chances of errors while processing claims and maximizes client satisfaction.
A major part of selling policies involves educating clients about the pros and cons of different schemes. This is a comprehensive part of the process that requires expertise in the field, something an insurance VA is best suited for! An insurance VA can assist your clients with details on the coverage, pricing, premium, etc., of various similar-looking policies, enabling them to choose the best within their budget.
Benefits: This ensures you sell the best policy to your client that covers their needs and fits their budget.
Tools/Skills Required: Strong analytical and comparison skills along with a deep knowledge of different policies.
How It Helps: Providing efficient assistance in policy comparison enables you to enhance client satisfaction.
An insurance VA can help you conduct research and narrow down the most reliable insurance providers around you. Apart from this, they can also research ongoing industry trends, buyer behavior, competitors, policies, market demographics, and other essential elements of the business.
Benefits: This helps you achieve important insights needed to scale your business.
Tools/Skills Required: Strong analytical and research skills.
How It Helps: Effective research allows you to establish a strong positioning in the market.
There are multiple different types of documents required in an insurance business for client prospecting and management. A VA can help you draft, organize, and oversee them. This includes documents like policies, proposals, contracts, receipts, etc.
Benefits: This helps ensure all documents are prepared accurately and timely, and no important paperwork is missing.
Tools/Skills Required: Strong attention to detail and proficiency in document management software like Dropbox and DocuWare.
How It Helps: Document preparation and management help you stay organized and enhance productivity.
The VA can guide customers through the process of filing an insurance claim. This includes providing instructions on the required documentation, helping fill out claim forms, and tracking the status of submitted claims. The assistant can answer common questions about the claims process, estimate the time for claim resolution, and escalate issues to a human representative if necessary. This ensures that customers have a smooth and efficient experience when dealing with claims.
Benefits: This helps speed up the claims process.
Tools/Skills Required: Strong attention to detail along with familiarity with insurance claims management software like Applied Epic and Aclaimant.
How It Helps: Quick claims processing ensures your clients face minimum delays and disruptions while receiving claims.
Sometimes, insurance claims may take time to process. During this period, it’s important to keep the client updated about the status of their claim. Insurance VAs do exactly that! They can communicate with the client regarding the progress of their claim and resolve any concerns they may have in relation to it.
Benefits: This helps keep the workflow streamlined and ensures timely query resolution.
Tools/Skills Required: Professional communication skills with skills in CRM tools like Freshworks and Zendesk.
How It Helps: Efficient claims follow-up ensures your clients remain updated about their pending claims, maximizing their trust in your business.
Client onboarding is a tardy process with too many layers of complexities and paperwork. An insurance VA can offload this burden for you. They can efficiently onboard new clients by streamlining tasks like setting up accounts and checking required documents like driving licenses and birth certificates.
Benefits: This helps ensure the client is onboarded smoothly and methodically.
Tools/Skills Required: Excellent interpersonal skills with expertise in using onboarding software like ClickUp and Notion.
How It Helps: Streamlined client onboarding enhances your reputation and establishes the foundational relationship with a client.
Managing leads, clients, and insurance providers at the same time can be a tedious task. In this regard, just a little negligence can harm your reputation in the market. But an insurance VA can take care of that for you. These professionals can easily manage your appointments with different parties and keep them updated about any plan change. They can also reschedule appointments to fit your timeline.
Benefits: This keeps you organized and productive.
Tools/Skills Required: Strong organizational skills with proficiency in calendar management tools like Calendly and Doodle.
How It Helps: Efficient appointment scheduling ensures optimal time management and timely client interactions.
An insurance VA can help you operate within the regulatory framework. They can assist your newly onboarded clients in complying with all the legal paperwork required for lawful onboarding. They can also conduct timely audits and update policies as per any changes in industry regulations.
Benefits: This helps you stay compliant and out of any legal issues.
Tools/Skills Required: Deep regulatory knowledge with proficiency in compliance management software like AuditBoard and HyperProof.
How It Helps: Robust compliance management mitigates legal risks for you and your clients.
With so much to look after, billing and invoicing every client on time can be difficult. This is where an insurance VA can come to your rescue. They can help you draft and send bills and invoices right on time to all policyholders, agents, brokers, etc. They can also track payment statuses and send reminders.
Benefits: This helps you receive payments on time and function effectively.
Tools/Skills Required: Strong financial skills with proficiency in invoicing tools like Xero and Wave.
How It Helps: Accurate and timely billing and invoicing help you minimize dues and stay compliant.
Conducting regular surveys is the key to maximizing client satisfaction. But you cannot do so singlehandedly. An insurance VA can help you there. They can assist you in creating forms and gaining feedback from clients. They can also identify any scope for improvement and suggest tips to facilitate that.
Benefits: This helps you provide the best quality service to your clients.
Tools/Skills Required: Impeccable analytical skills and familiarity with survey tools like Google Forms and QuestionPro.
How It Helps: Client satisfaction surveys can help you understand your clients’ experience with your business and improve your services likewise.
An insurance VA can assist you in creating data-driven reports for your business. This includes sales performance reports, client feedback reports, market trends reports, etc. These professionals possess the right skills and industry knowledge to create these documents with maximum accuracy and efficiency.
Benefits: This can help you stay relevant and make data-driven decisions.
Tools/Skills Required: Strong data analysis skills with a hold in reporting software like Tableau and Google Analytics.
How It Helps: Proper report preparation can help you formulate better business strategies.
Marketing is a crucial aspect of any business that requires particular attention and constant effort. An insurance VA can enable you to achieve maximum results out of marketing. They can help you with both traditional and digital marketing through ad campaigns, content creation, social media marketing, email management, etc.
Benefits: This helps you enhance brand visibility and increase profitability.
Tools/Skills Required: Strong marketing knowledge with proficiency in tools like HubSpot and Mailchimp.
How It Helps: Efficient marketing support enables you to attract new leads and reach new markets.
An insurance VA can also extend administrative support to you. They can ease day-to-day activities like data entry, calendar management, email management, scheduling, calling, etc. Apart from these, they can also help you organize important files, documents, reports, and so on.
Benefits: This helps you stay organized and productive.
Tools/Skills Required: Strong administrative skills and multitasking abilities.
How It Helps: Good administrative support enables you to focus on core business activities and maximize productivity.
Founded by serial entrepreneurs, Leverage Assistants is a white-glove service that helps you find 1% assistants and then teaches you how to build leverage with them.
If you’re interested in a strategy session to learn how to use an assistant, click here.
Stephen is one of the founders of Lumiere and a Harvard College graduate. He founded Lumiere as a Ph.D. student at Harvard Business School. Lumiere is a selective research program where students work 1-1 with a research mentor to develop an independent research paper.
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