Insurance Companies Need a Strong Dose of Conversational Analytics

Scenario 1:  Customer calls into the contact center have increased by 150% in the past few days. The weather channel is spewing out hurricane facts like an overheated computer. Insurance Company management notes the deluge in calls but doesn’t see the correlation. Sales are decreasing, new policy quotes are declining, conversion rates have all but evaporated, and revenue for the day is abysmal.   Precious resources are allocated to listen to a sampling of calls to determine the reason. Results are promised in 3-4 business days to properly establish a trend.

Scenario 2: Customer calls into the contact center have increased by 150% in the past few days. The weather channel is spewing out hurricane facts like an overheated computer. Insurance Company management is proactively contacted by Activus Connect, their customer experience provider. Their always-on customer and behavioral analytics platform flagged an increase in a specific type of call, “Do I have flood insurance?”.  Activus Connect has written a new script for these calls, and their Ambassadors have been brief real-time via their Smart Virtual™ communication platform. Additional Ambassadors have been queued up for just-in-time support and additional messaging recommendations have been shared with the Insurance Company Management team. Crisis averted, Insurance Company Management is able to breathe a sigh of relief and Activus Connect keeps on elevating experiences. Sales are increasing, new policy quotes are rising, conversion rates are up, and revenue for the day is optimal.

Which customer experience do you want your clients to receive when they call into your company: scenario #1 or #2?

“Number two, of course!” you say. Unfortunately for most of the insurance providers, they live in scenario number one as approximately 1% of customer service calls are reviewed even during a sudden spike.

“Our clients savor their customer experience. That is how we differentiate ourselves from our competition—we go above and beyond the expected. We’re people-centric.” States Activus Connect’s Co-Founder, Minerva Serrano.

Serrano continues, “The positive value of AI-enabled conversational analytics across all aspects of the customer journey—from sales to billing to claims—is paramount to the success of the organization. It drives customer loyalty and increases revenue.”

Overall, insurance providers haven’t addressed the subject of conversational and behavioral analytics because they haven’t had to. Customers’ behaviors are changing with the advent of digital, the ease of comparison shopping and the expectation of a more personal experience. Industry innovator, Activus Connect’s bundled conversational analytics helps their insurance clients determine their customers’ needs and wants before the customer can even articulate them.

“The keys to CX (Customer Experience) quality in insurance, according to Forrester, stem from effectiveness, ease, and emotion. Typically, this means having a combination of digital and human access.” At Activus Connect, this is how we are establishing ourselves as an industry leader. See CMS Wire’s article on how “The Insurance Industry Plays Catch Up With Customer Experience” for more information.

Serrano reiterates, “Measuring every call allows us to tell you what your customers are saying. This enables us to tell our clients how to be more strategic and deliberate in their customer experience.”

Very few insurance companies are using these tools. Many are still using outdated practices which is a costly decision as uncaptured revenue is drained from your organization with each customer call. Don’t you want to know what your customers want before they do? Your shareholders do.

At Activus Connect, these essential tools are provided in our base platform:

  • Customer sentiment, or conversational analytics, allows insurance companies to understand what their customers are saying, what’s important to them and how to meet their needs.
  • Compliance enables our clients to maximize sales while being legally compliant. This ensures all legal disclosures are provided, which reduces risk mitigation. Analytics-based compliance tools are an absolute way of maximizing every sales opportunity.
  • 100% quality assurance monitoring, it’s about ensuring that you know how your valued Ambassadors are always performing. How they are treating your customers, and whether they are representing your brand in the way you would expect.

Activus Connect, a people-centric company, provides this suite of analytics-based enablement tools. Insurance companies who partner with Activus Connect, automatically get an advantage over their competitors in the marketplace because no other contact center providers offers such a robust level of CX enablement at no additional cost. This is why we are considered an industry leader. We provide the tools that brands need to have a competitive edge, all included in our base platform.

Do you want your organization partnering with an industry laggard or innovator that can help increase revenue?


Written by award-winning author, Kim M. Clark