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Enterprise Speech & Interaction Analytics, Live in the moment prompts & Alerts

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Award winning Contact Centre software...

Awards

Quality Assurance
Overcoming Challenges in the Insurance Industry

Quality Assurance

  • High business risk – with a big commercial impact from potential FCA Consumer Duty fines or non-compliance during the sales process or claims.
  • Manual, Costly Outdated Process: The current quality assurance processes in the insurance industry are often manual and outdated, leading to inefficiencies. Human QA team can only review a small percentage of customer interactions (typically less than 10%), which exposes the business to risk, missing non-compliant calls.
  • Time-Consuming for Quality Managers & Team Leaders: Manual Quality Assurance requires extensive hours listening to call recordings, which detracts from their ability to focus on strategic initiatives and employee development.
  • Demotivating for Agents: The dip sampled volume and subjective nature of manual quality checks, can demotivate agents, as they may feel unfairly assessed or underappreciated for their efforts.

Solution: Implementing Live in Call agent support, to provide the information to the agent, to help every call be compliant, backed by automated quality assurance (Auto QA) of every interaction impartially and comprehensively, providing a true report on agent performance and areas for improvement.

Benefit – Every customer interaction is guided, checked and reported on. This raises the view of compliance scoring from a low percentage to up to 100%. Auto QA checking thousands of calls at mass scale, to catch incompliance and resolve it, adapt training and much more.

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Ensuring Compliance
Overcoming Challenges in the Insurance Industry

Ensuring Compliance

  • Caller Vulnerability identification is nuanced, and our solution identifies and scores the risk to your business, on every single call, reporting volumes. Trained on over 4 million UK calls, with the different descriptions of vulnerability, in line with FCA CONSUMER DUTY, such as “over 80 illnesses, lack of understanding, English as a second language and others that identify any lack of understanding by the caller.
  • DPA Completion, Cooling Off Cancellation Period, T&Cs Reading: Ensuring that agents consistently read the policy terms and conditions (T&Cs) verbatim.
  • Correct Processes for Mid-Term Policy Amendments: Ensuring that agents follow the correct procedures for mid-term policy amendments, such as policy changes or updates, to maintain regulatory compliance and customer satisfaction.
  • Identifying and Actioning Risks Appropriately: Proper identification and appropriate action regarding risks, such as driver bans or convictions, to avoid non-compliance and potential legal repercussions.

Solution: Utilising speech analytics to automatically monitor compliance in every interaction, ensuring that regulatory requirements are consistently met.

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Adherence to FCA Outcomes Framework
Overcoming Challenges in the Insurance Industry

Adherence to FCA Outcomes Framework

  • Identification and Action of Caller Vulnerabilities: Ensuring that agents can identify and appropriately handle caller vulnerabilities as defined by the Financial Conduct Authority (FCA).
  • Providing Evidence of Adherence: Demonstrating through verifiable data that the company adheres to the FCA Outcomes Framework, which includes treating customers fairly and ensuring fair outcomes for all.

Solution: Deploying speech analytics to identify and document caller vulnerabilities, providing clear evidence of adherence to the FCA Consumer Duty framework.

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Complaint handling
Overcoming Challenges in the Insurance Industry

Complaint handling

  • Identifying Complaints, unhappiness with service and “Expressions of Dissatisfaction” on every single call within your business, alerting it for additional review, to avoid FCA Consumer Duty issues and costly ombudsman complaints.
  • Complaints Volume & Reasons: Effectively identifying common reasons for complaints and ensuring that the processes followed by agents adhere to company policies and regulatory standards.
  • Ensuring Agent Script Adherence: Ensuring that agents consistently follow the prescribed scripts to maintain compliance and provide a uniform customer experience.

Solution: Leveraging speech analytics to monitor and analyse every interaction for adherence to scripts and process compliance, identifying patterns and areas for improvement.

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Benefits:

Increase Sales

Boost sales by highlighting effective sales techniques, objection handling, and personalised customer questioning. Identify upsell opportunities, such as adding critical illness insurance or family coverage. Prompting live in the moment, to maximise every sale opportunity.

Benefits:

Auto QA & FCA Consumer Duty Compliance

Automatically and impartially score every interaction, providing a true ongoing score of agent performance. Ensure compliance with FCA standards and identify training needs.

Benefits:

AI Customisation

Our AI is specifically trained for the insurance industry, recognising your unique business terms, acronyms, and agent-specific language nuances.

Benefits:

Auto Call Categorisation

Automatically identify and categorise the most common reasons for customer contact, providing a an accurate volume of these reason for contact, which could be new policies, contract amendments, claim submissions, and payment issues. Pinpoint customer pain points, in-efficient company processes and streamline resolution processes.

Benefits:

NPS/CSAT Score Prediction

Every interaction receives a customer happiness, Net Promoter (NPS / CSAT) score enabling your business to gain a clearer understanding of customer experience & process issues across your touchpoints.

Benefits:

Agent Wellbeing

Identify difficult conversations and instances of abuse to agents, alert team leaders and HR as required. Trained and proven over 4 million UK Calls. Reduce attrition and staff absence by addressing high-stress interactions and providing necessary support. Our CX Analysts at Avoira will work with you to uncover use cases and achieve your ROI.

Award Winning Solutions...

Avoira & Xdroid have been recognised by the industry and won national awards.

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Contact Centre World: Global Top Ranking Performers Award

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National Insurance Awards – Initiative of the Year

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Comms National Awards: Best SME Contact Centre Customer Solution

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Avoira Xperience are an award-winning provider, for several leading UK Insurance providers.

Avoira Xperience are an award-winning provider, for several leading UK Insurance providers.

“Avoira have been incredibly supportive in assisting us with securing the full potential of Xdroid, a technology we see as an absolute game-changer. ​“It’s a tremendously powerful and flexible tool.” ​

“Xdroid positively impacts every area of our business, not simply in guiding better sales and service outcomes, but efficiently meeting and exceeding regulatory demands and supporting the wellbeing of both our agents and customers”.​

Matt Byrne, Head of Distribution: Principal Insurance.

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Useful Resources

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Revolutionising Insurance

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Data Driven Excellence in Vehicle Insurance.

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Empowering Life Insurance

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Life Insurance Challenges

  • Upsell Opportunities, Selling Additional Products, T&Cs at Inception:

    Identifying opportunities to upsell and cross-sell additional products, ensuring that agents discuss the terms and conditions (T&Cs) accurately at the policy inception to avoid future misunderstandings.

  • Identifying Areas of Uncertainty During the Purchase Process:

    Detecting customer uncertainty during the purchase process, which could lead to cancellations during the cooling-off period.

  • Objection Handling and High-Risk Areas:

    Training agents to handle objections effectively and identifying high-risk areas, such as conversations involving vulnerable customers or complex medical conditions.

  • Solution:

    Using AI-driven speech analytics to identify upsell opportunities, handle objections, and recognise areas of uncertainty, thereby increasing sales and reducing policy cancellations.

Motor Insurance Challenges

  • Accident Reporting and Claims Processing:

    Ensuring accurate and efficient accident reporting and claims processing, which can be complex and time-consuming.

  • Fraud Detection:

    Identifying potential fraudulent claims, which is a significant concern in motor insurance

  • Driver Behaviour Analysis:

    Analysing driver behaviour to provide personalised insurance premiums and improve customer retention.

  • Solution:

    Implementing speech analytics to streamline accident reporting, enhance claims processing, detect fraudulent claims, and analyse driver behaviour for better risk assessment and personalised premium offerings.

Key Features

  • Identify Top Performers.
  • Share best practices across the team.
  • Compliance Adherence: Identify T&C gaps and provide necessary training.
  • Increased Sales: Reduce cancellations by addressing customer uncertainty and follow-up.
  • Auto QA: Automatic and impartial scoring of all interactions.
  • Vulnerability Identification: Ensure compliance in all interactions.
  • NPS/CSAT Prediction: Score every interaction for a complete picture of customer experience
  • Contact Drivers: Understand why customers are contacting you during peak times.
  • Auto Call Summary: Speed up call wrap time and ensure accurate details with GenAI.
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