Transforming Customer Support: How Streebo and IBM Revolutionized Operations for a Leading Insurance Company in the US with IBM Watson & Generative AI
KNOW OUR CLIENT
Our recent client, established in the 1950s in the US, is a leading player in the insurance sector. With a diverse portfolio covering Auto, Health, and Dental insurance, they have earned a reputation for excellence. Their commitment to customer care and high standards has made them a standout in the industry. Drawing from decades of experience, they understand the nuances of insurance operations and the importance of delivering exceptional service to their clients. Through their dedicated Customer Care Department, they have consistently upheld their reputation for reliability and quality, setting industry standards in the process.
OUR CLIENT’S BUSINESS
CHALLENGE
Despite their strong market presence and established
reputation, our client faced challenges in adapting to the
evolving landscape of customer support operations. The
increasing demand for personalized service, coupled with the
need for more efficient lead generation and conversion
strategies, posed significant challenges for their business.
In response to these challenges, our client recognized the
importance of adopting advanced technologies to
enhance their customer service capabilities. They sought solutions that would not only streamline their
support operations but also improve their lead acquisition and conversion rates. With a clear vision
of optimizing their processes and driving growth, our client embarked on a journey to find a partner who could
provide innovative solutions tailored to their specific needs.
enhance their customer service capabilities. They sought solutions that would not only streamline their
support operations but also improve their lead acquisition and conversion rates. With a clear vision
of optimizing their processes and driving growth, our client embarked on a journey to find a partner who could
provide innovative solutions tailored to their specific needs.
THE SOLUTION PROPOSED AND LEVERAGED
Collaborating with IBM, Streebo recognized the imperative for an
advanced virtual assistant to tackle the customer’s
challenges head-on. Leveraging IBM Watson and Generative AI
technology, a comprehensive strategy was devised to create a
cognitive assistant tailored explicitly for overhauling their
customer service framework. This involved showcasing a customized
bot sourced from the IBM Powered Enterprise Bot Store, emphasizing
the robustness of IBM’s secure tools and platform
compatibility.
I want to make an insurance
claim for a recent accident. My insurance policy number
is AW678876KM0989, and I’d
like to claim $2400. Thanks for your help. Thank you for providing your policy
number and the amount you want
to claim. Your claim request has been
successfully submitted, and you can
expect the disbursement within the
next 24 hours. You may get a call
form one of the representatives soon.
claim for a recent accident. My insurance policy number
is AW678876KM0989, and I’d
like to claim $2400. Thanks for your help. Thank you for providing your policy
number and the amount you want
to claim. Your claim request has been
successfully submitted, and you can
expect the disbursement within the
next 24 hours. You may get a call
form one of the representatives soon.
The primary objective was to develop a cognitive assistant endowed
with the ability to provide dynamic responses, finely tuned to
address the unique demands of the insurance industry. These
responses were specifically tailored to meet the requirements of
insurance-related use cases, including lead generation and
optimization of customer support processes.
FEATURES & FUNCTIONALITIES
Multi-Modal Support
Providing support across voice and chat modalities for a seamless user experience.
Curated FAQ Integration
Enriching the chat & voice interface with curated FAQs related to company and Medicare insights.
Integration with NexSure CRM
Seamless integration with NexSure CRM for effective capture, tracking, and follow-up on prospect interactions.
Calendly Integration
Integration with Calendly for effortless appointment booking experiences with insurance agents.
Self-Directed Approach
Offering prospects a direct application link on the client’s site for a self-directed approach.
Flexibility in Activation
Users have the flexibility to activate the solution through both SMS and QR code.
Deployment
Planned deployment on the client’s existing website and an SMS channel for broad outreach.
API-Driven Connections
Ensuring integrated functionality through seamless API-driven connections with Calendly and NexSure CRM.
Analytics Dashboard
Featuring an out-of-the-box Analytics Dashboard for tracking usage and adoption of the Cognitive Assistant.
Voice Support
Enhance user engagement with robust voice support, allowing users to interact with the system through natural language commands and inquiries.
CHANNELS COVERED
Our solution encompasses Web, SMS, and Voice channels. The entire IVR system is automated, with both incoming and outgoing calls efficiently managed by Gen AI Powered Bots.
USE CASES & SERVICES COVERED
Lead Acquisition
Enhancing lead generation efforts by engaging prospects effectively through the virtual assistant.
Appointment Scheduling
Simplifying appointment booking experiences for insurance agents and prospects.
Customer Support
Streamlining customer support operations by providing timely and accurate assistance to inquiries.
Data Tracking and Analysis
Capturing and analyzing prospect interactions for informed decision-making and strategy refinement.
BUSINESS BENEFITS EXPERIENCED BY OUR CLIENT
The implementation of the IBM Watson & Generative AI-powered
virtual assistant solution has resulted in significant business benefits for our client:
Cost Savings
By automating customer support operations, the client has reduced agent costs by 30%.
Enhanced Customer Satisfaction
Customer satisfaction levels have risen by 35% due to the faster response times and personalized assistance provided by the virtual assistant.
Improved Conversion Rates
With the assistance of the virtual assistant, the client has experienced a 25% increase in lead conversion rates.
Increased Revenue
The streamlined customer support operations and improved conversion rates have led to a 20% increase in revenue.
WHAT’S NEXT?
In the current phase, our partnership has reached an important
milestone as the smart chatbot solution is already live.
We’ve seamlessly integrated and deployed it into the
client’s operational framework. Now, our focus shifts to
customization and optimization to precisely align the solution
with the client’s unique requirements. Continuous monitoring
and feedback analysis will drive further refinement, maximizing
its efficacy and value.
