CX Automation for Insurance
Insurers use AI-powered CX Automation to improve efficiencies, elevate customer and employee experience, and drive business outcomes.
Disruptions in the insurance industry pose new difficulties
The insurance industry is changing drastically, presenting insurers with difficult challenges all around the globe:
- Digital transformation and the disruptive rise of InsurTechs
- Increasing consumer expectations
- Talent attrition and retention
- Evolving regulatory environment
And that’s not the end of it. Property and Casualty as well as Life and Annuities providers struggle with challenges specific to their fields.
Unpredictable call volumes and increasing costs
Catastrophic events happen more frequently than ever before. These events often result in dramatically increased call volumes and insurance claims, for which it is impossible to prepare. Nevertheless, you must be able to be there for your policyholders – no matter when they call or how many calls you get.
What’s more, rising material costs make it challenging to offer attractive insurance pricing to your customers. How do you manage costs without compromising on customer satisfaction?
Customer expectations and demographic transition
As a life insurer, you often interact with your customers during the most difficult times of their lives. For this reason, their experience with your business must be as seamless as possible.
In addition, the general ageing of the population means that you must be prepared for an increasing number of annuity claims going forward. At the same time, the number of people who opt for annuity plans is on the decline. How can you keep up the quality of your services in such economic uncertainty?
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"We can now track and optimize end-to-end CX, ensuring we consistently deliver better outcomes for our clients and their customers.”
"Verint is the best choice. Their cloud WFM platform is continually being innovated, it's proven countless times in the market, and it integrates quickly and easily into our front-office environment."
"ORBIT, with all of our Verint technology under the covers, gives us a powerful tool we have never had before, with enormous intelligence about our customers, products, and interactions. It is crucial to helping us execute on our simplification and digitalization journey."
“The intelligent, automated insights we gain from Verint Operations Manager have upended our traditional processes. Everyone has adopted the solution. There has been a fundamental mindset change across the organization.”
“Verint is a trusted partner of our organization. Verint’s solution is game-changing, and their experienced teams offer practical knowledge and are committed to our success.”
With Verint, you'll be able to
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Improve your operations and leapfrog the competition
Transform your business for the new digital age of insurance to increase productivity and get ahead of the competition – including disruptive InsurTech firms.
Guardian Life wanted to modernize its workforce planning capabilities in the cloud. Through Workforce Management and Verint’s strategic partnership with AWS, they managed to increase productivity by 20%, reduce call volume by 20%, and get ahead of insurance industry disruption driven by new technology and changing customer expectations.
Reduce call handling times with digital channels
Accelerate your digital transformation to drive AI business outcomes.
Leveraging Verint Channel Automation, IAG managed to simplify and digitize the customer journey, increasing customer interactions through digital channels by over 40% and reducing call handling times by 20%.
Provide seamless experiences across all customer touchpoints
As technology evolves, customer expectations grow – and the insurance sector is no exception.
Verint offers Specialized Bots that augment the contact center agent’s capabilities, allowing them to focus on the customer, and not the technology. The Coaching Bots give agents real-time guidance so they can have effective, empathetic conversations with your customers. The Knowledge Suggestion Bot presents relevant, contextual resources so agents can provide the right answers. The Interaction Wrap Up Bot leverages AI to automatically summarize an interaction, freeing up agents’ time.
Leverage interaction data across channels
Understanding what your customers want and where they might be frustrated is essential to being able to continually improve CX. Verint Voice of the Customer solutions enable you to listen everywhere, analyze deeper, and act immediately on interaction data insights.
Increase capacity and employee productivity
Increase the efficiency of your workforce to be able to engage with your customers seamlessly, even in times of high demand.
Guardian Life uses Verint Workforce Management to improve employee productivity and performance. In its back office alone, Guardian was able to improve capacity by 10% to 15% and reduce overtime by 30%.
Improve efficiency while elevating CX
Processing claims or benefits requests can be complex and relies heavily on your back-office support functions. To deliver a great CX, it is vital to execute these processes quickly and accurately. These functions need to maximize capacity and employee productivity to while meeting service goals.
Using Verint Operations Manager, Wesleyan achieved 20% cost savings in underwriting and maintained excellent customer satisfaction results.
Speed up the hiring process and find the right employees
It’s becoming increasingly hard to attract and hire talent in the insurance industry. Tackle modern HR challenges with AI.
Verint Interviewing Bot uses predictive analytics to identify top candidates during the interviewing and onboarding process. It also integrates seamlessly with Verint Workforce Management, so you can easily harmonize your hiring plans and resource and capacity planning process.
Work Entropy, a company that specializes in solutions for hiring in the “gig economy,” was able to source independent workers, from application to onboarding, within 24 hours.
Retain your employees easily and effortlessly
Providing your employees with a good work/life balance is crucial in keeping them engaged.
Powered by AI, Verint TimeFlex Bot empowers your agents to make unlimited schedule changes, removing the need for manual change requests and enhancing schedule quality at the same time. Deliver AI business outcomes in your contact center with reduced attrition, absenteeism, and improved employee experience.
Keep current with industry regulations
The insurance industry is governed by complex, ever-changing regulations. As non-compliance with these regulations can lead to sever consequences, adherence is key for your business.
Maintain compliance with insurance regulations to avoid hefty fines, legal consequences, and damaged reputation with our Quality and Compliance solutions.
Improve your operations and leapfrog the competition
Transform your business for the new digital age of insurance to increase productivity and get ahead of the competition – including disruptive InsurTech firms.
Guardian Life wanted to modernize its workforce planning capabilities in the cloud. Through Workforce Management and Verint’s strategic partnership with AWS, they managed to increase productivity by 20%, reduce call volume by 20%, and get ahead of insurance industry disruption driven by new technology and changing customer expectations.
Reduce call handling times with digital channels
Accelerate your digital transformation to drive AI business outcomes.
Leveraging Verint Channel Automation, IAG managed to simplify and digitize the customer journey, increasing customer interactions through digital channels by over 40% and reducing call handling times by 20%.
Provide seamless experiences across all customer touchpoints
As technology evolves, customer expectations grow – and the insurance sector is no exception.
Verint offers Specialized Bots that augment the contact center agent’s capabilities, allowing them to focus on the customer, and not the technology. The Coaching Bots give agents real-time guidance so they can have effective, empathetic conversations with your customers. The Knowledge Suggestion Bot presents relevant, contextual resources so agents can provide the right answers. The Interaction Wrap Up Bot leverages AI to automatically summarize an interaction, freeing up agents’ time.
Leverage interaction data across channels
Understanding what your customers want and where they might be frustrated is essential to being able to continually improve CX. Verint Voice of the Customer solutions enable you to listen everywhere, analyze deeper, and act immediately on interaction data insights.
Increase capacity and employee productivity
Increase the efficiency of your workforce to be able to engage with your customers seamlessly, even in times of high demand.
Guardian Life uses Verint Workforce Management to improve employee productivity and performance. In its back office alone, Guardian was able to improve capacity by 10% to 15% and reduce overtime by 30%.
Improve efficiency while elevating CX
Processing claims or benefits requests can be complex and relies heavily on your back-office support functions. To deliver a great CX, it is vital to execute these processes quickly and accurately. These functions need to maximize capacity and employee productivity to while meeting service goals.
Using Verint Operations Manager, Wesleyan achieved 20% cost savings in underwriting and maintained excellent customer satisfaction results.
Speed up the hiring process and find the right employees
It’s becoming increasingly hard to attract and hire talent in the insurance industry. Tackle modern HR challenges with AI.
Verint Interviewing Bot uses predictive analytics to identify top candidates during the interviewing and onboarding process. It also integrates seamlessly with Verint Workforce Management, so you can easily harmonize your hiring plans and resource and capacity planning process.
Work Entropy, a company that specializes in solutions for hiring in the “gig economy,” was able to source independent workers, from application to onboarding, within 24 hours.
Retain your employees easily and effortlessly
Providing your employees with a good work/life balance is crucial in keeping them engaged.
Powered by AI, Verint TimeFlex Bot empowers your agents to make unlimited schedule changes, removing the need for manual change requests and enhancing schedule quality at the same time. Deliver AI business outcomes in your contact center with reduced attrition, absenteeism, and improved employee experience.
Keep current with industry regulations
The insurance industry is governed by complex, ever-changing regulations. As non-compliance with these regulations can lead to sever consequences, adherence is key for your business.
Maintain compliance with insurance regulations to avoid hefty fines, legal consequences, and damaged reputation with our Quality and Compliance solutions.
Insurance Solutions
Automation in insurance operations
Insurance operations have enjoyed efficiency gains from workflow automation, automated claims management systems, and RPA, enabling employees to deal with the more complex, variable work.
It’s time to take the next step on the insurance automation journey. Read the eBook to discover how insurers have leveraged workforce engagement automation to drive tangible AI business outcomes:
- Improve employee productivity and effectiveness
- Speed turnaround times
- Increase customer and employee engagement
Insurance Customer Success Stories
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Insurance Insights & Resources
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Insurance FAQs
As customer expectations rise, insurers must be able to provide seamless CX across telephony, digital channels, and even in the insurance branch. But technology has evolved, and digital and self-service channels are becoming increasingly popular. Insurers must be able to keep up with changing user needs and behavior.
CX Automation lets you elevate customer experience across channels without additional labor cost using AI. In other words, it lets you empower your customers while achieving significant cost savings. Learn more about Verint Open Platform now.
Too often when insurers undertake digital transformation, they limit their efforts to modernizing customer-facing digital assets, like their website, mobile apps, chatbots, etc. But true digital transformation is an enterprise-wide endeavor that modernizes the technologies not only in your digital channels, but the solutions your employees use, and even the ways you can capture feedback directly from the customer.
Verint can help you transform your operations and achieve true digitalization through AI-powered , Verint Channel Automation, and Voice of the Customer solutions.
Many insurers are in the process of modernizing their core systems and moving to the cloud, but these systems primarily focus on automating tasks and processes.
The greater opportunity lies in solutions that improve the performance of your most costly asset – your employees. Improving employee productivity, effectiveness, and utilization can deliver tangible ROI and business outcomes.
The insurance industry is facing difficult challenges when it comes to hiring and retaining employees. In this highly competitive environment for talent, insurers need to:
- Modernize the tools employees use to execute their jobs
- Level up their onboarding and employee development programs to train, retain, and reward performance
- Encourage creativity and bridge the generation gap
Our workforce engagement solutions and specialized bots such as the TimeFlex Bot can help you elevate the employee experience.
The insurance industry is governed by complex, ever-changing regulations. As non-compliance with these regulations can lead to sever consequences, adherence is key for your business.
We can help you maintain compliance with insurance regulations to avoid hefty fines, legal consequences, and damaged reputation with our Quality and Compliance solutions.
Learn More About Customer Engagement Solutions for Insurance
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