Multi-Award Winning CX Strategy Helps Tryg Norway Drive Insurance Sales Growth
Verint and Axcess Nordic helped this leading Scandinavian insurer elevate CX and drive sales with personalized coaching for advisors. Upon implementation, 40% of advisors collectively increased their average monthly sales by 45%.
Results
- 40%
of advisors increased average monthly sales by 45%.
- Award-winning
Program helped Tryg win award for ”Best Customer Service Provider” in Norway.
About Tryg
Tryg is one of the largest non-life insurance companies of the Nordic region. Tryg’s 6,900 people create security and value for 6 million customers, processing approximately 1.6 million claims each year across the region.
Opportunity
Insurance practitioners are aware how difficult it is to sustain a unique selling proposition in a market dominated by price. To distinguish itself in the Norwegian market with a unique value proposition, Tryg is focusing on customer satisfaction. Indeed, its 200-strong Customer Service teams are immensely proud of their 78% first contact resolution rate. Its goal has also been to win the “Norwegian Customer Service Award” – the jewel in the crown for great service.
Personalized coaching was the barrier to that success. It was often piecemeal and among the first items to be cancelled when the business faced operational challenges. This led to team leaders lacking both time and focus. Moreover, content focused on complex, overarching themes that were non-specific. And Tryg lacked data into the type of coaching each advisor needed. “Each team leader was responsible for coaching execution, resulting in as many different coaching methods as there were leaders in the division,” says Aleksander Fredriksen, Director of Sales, Self-service & WFM, Tryg.
“By investing in advisor coaching, Tryg would be uniquely poised to improve advisor competence, optimize engagement, and win customers’ hearts and minds,” says Robin Sandal, Vice President, Director Customer Division, Tryg.
Solution
Verint is Tryg’s secret sauce for success. A comprehensive, connected Verint platform with speech analytics and automated quality management is transforming advisor training and re-imagining the customer experience. The platform was designed and implemented by Axcess Nordic, a leading Nordic workforce engagement specialist.
Using Verint Speech Analytics, call recordings are transcribed into text, allowing Tryg to build categories in the system – for example, calls that include a positive conclusion from the advisor. Automated call scoring from Verint Quality Bot uses integrated evaluation forms.
Sales trainers prepare at the start of the coaching process by listening to eight calls and evaluating them based on 20 questions divided into seven customer conversation themes. This helps the sales trainers quickly form a picture of which areas in the conversation need coaching.
The coaching typically takes place through one-on-one sessions, with up to eight sessions over a six-week period. The employee and leader are presented with the results and a further development plan to achieve long-term results.
Axcess Nordic has been instrumental to the project outcome. Sandal comments, “Axcess Nordic has helped our team a great deal, sharing knowledge, experience, and insights with us, ensuring program success.”
Benefits
This forward-thinking strategy is having a direct impact on CX and sales growth. The benefits include:
- Increased average sales: Forty percent of the advisors who participated in the coaching have improved their sales results.
- Elevated CX: Tryg launched the targeted sales coaching for employees one year ago. To date, 58% of advisors have improved their customer satisfaction.
- Best CSAT improvement in the market: According to well-recognized EPSi Rating Group, Tryg Norway has seen the highest improvement of customer satisfaction in 2024 compared with other providers in the insurance market.
- Awarded Best Customer Service Provider in Norway: The program success has been recognized by two awards this year: “The Norwegian Championship in Response Time” and The Customer Service Award for “Best in Test in the Insurance Industry”. Moreover, Tryg smashed every competitor in the 2024 Customer Service awards, achieving the highest total result by a winner in seven years.
- Increased advisor upselling effectiveness by 80%: As outlined above, Tryg’s sales trainers score calls based on seven themes, answering 20 different questions (‘yes/no’) directly in a Verint evaluation form. Advisors that participated in training increased in all seven themes (with an 80% increase in Sales Upselling theme). Tryg is now automating this process with Verint Quality Bot.
- Advisors recognized for success: 55% of advisors have won internal awards such as “Star of the Month”, “Seller of the Month”, “Customer Satisfaction of the Month”, and “Advisor of the Month”.
- Empowered advisors: Advisors now understand the value of the coaching and are keen to participate – it is perceived as an enabler, not a chore.
- Advisors’ approach changed from sceptical to embrace coaching: Previously, a lot of agents were skeptical about being enrolled in coaching. When the coaching program began one year ago, 24 Tryg agents volunteered to be a part of the first coaching program, and their success created a genuine demand for coaching among the rest. In fact, some advisors have now volunteered to be coaching ambassadors, mentoring others to succeed.
The final comment is left to Stefan Årskaug, Speech Analytics Manager, Tryg. Referring to the potential of the Verint platform, he says, “We bought a Ferrari, and we know how to drive it”.
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