Aviva Increases NPS by 85% and Improves Compliance Using Verint Speech Analytics

Opportunity

Aviva’s “with you today, for a better tomorrow” brand promise reflects its commitment to putting the customer at the heart of the business. It is also key to Aviva’s success: it is one of the U.K.’s leading insurance, wealth, and retirement businesses, processing more than 3.5 million calls per year and serving 16 million UK customers across approximately 2,500 agents.

Verint and partner Five9 are collaborating to help ensure success for Aviva. Five9 has been the provider of Verint services to Aviva for several years. They support a Verint solution hosted in the Five9 cloud providing Verint’s solutions for call recording, quality management, speech analytics, desktop and process analytics, and workforce management. This solution is fully integrated with the Five9 CCaaS cloud contact center.

One particular challenge for Aviva were cases of “orphaned” customers. Anecdotal reports from call centers highlighted an increase in customers being orphaned from their independent financial adviser (IFA). This can be driven by either the customers themselves or their IFA.

When a customer is orphaned, there are a number of implications for customers including:

• Any IFA charges on their policy will stop (a common driver for customers to orphan themselves if they seek to remove the IFA from their policy).
• Other charges on their plan could increase if the IFA had negotiated a special deal for them.
• The customer will not receive future advice, which might be valuable for them, particularly when approaching the key decision points around retirement.
• Withdrawing any money from their plan in the future is on a non-advised basis, which is more onerous for the customer, as the implications of making the wrong decision are potentially more severe.

Aviva takes this process of becoming orphaned very seriously. The organization has a duty to ensure its customers receive the outcomes that they were led to expect when taking out their policies. “We take our regulatory duties and responsibilities to these customers very seriously and have put in place stringent processes to ensure customers are aware of all the implications when this happens,” says Tristan Harper, Principal Data Scientist, Aviva.

The goal of this project was to build a new category within the existing Verint Speech Analytics deployment to easily identify customers orphaned from their financial adviser. “We wanted to ensure this category accurately picked up the right customers, and so it was rigorously tested, with results indicating that it was accurate in 99% of cases,” says Harper.