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Insurance and Warranty

Insurance and Warranty

Overview

The global insurance industry has the potential to grow to $375 billion by 2022. The key driver for this growth will be customer-centric approaches. Industry leaders are focusing on improving overall customer experience (CX) and engagement with the hopes of creating customer loyalty, reducing churn in particular, and boosting plan ratings and reviews with the focus on accelerated growth and improved profitability.

To address this complex challenge, VOZIQ reimagines ways to improve customer experience and engagement and how churn can be predicted and prevented by focusing on uncovering early dissatisfaction and churn risk across the whole customer lifecycle. This enables operational leaders within the insurance to proactively provide differentiated treatment to at-risk customers even before they cancel.

Spot early signs of churn risk from unstructured data
10+ machine learning models for lifecycle risk prevention
Predictive IVR routing for proactive inbound retention
Team of data scientists to accelerate program success

Aptive Environmental prevented more than 50,000 cancellations with VOZIQ’s Predictive Customer Retention AI.

Insurance Use Cases

Track Risk by Products/Plans and Call Reasons

Reveal which products/plans/agents are driving churn risk.

Insurance-Track-Risk-by-Products-Plans-and-Call-Reasons

Track Risk by Products/Plans and Call Reasons

Reveal which products/plans/agents are driving churn risk.

Insurance-Track-Risk-by-Products-Plans-and-Call-Reasons
Insurance-Address-Churn-due-to-Relocation

Track Risk by Geo-Locations

Map relative risk based on volume of dissatisfied and at-risk customers across locations.

Track Risk by Geo-Locations

Map relative risk based on volume of dissatisfied and at-risk customers across locations.

Insurance-Address-Churn-due-to-Relocation

Understand Risk Drivers

Reveal complex risk patterns for multi-dimensional root cause analysis.
Insurance-Understand-Risk-Drivers

Understand Risk Drivers

Reveal complex risk patterns for multi-dimensional root cause analysis.
Insurance-Understand-Risk-Drivers
Insurance-Identify-Trending-Topics

Identify Trending Topics

NLP for automatic topic identification from customer interactions.

Identify Trending Topics

NLP for automatic topic identification from customer interactions.

Insurance - Identify Trending Topics

Discover Addressable Churn

Score quick wins by identifying customer segments that have addressable churn risk.

Insurance-Discover-Addressable-Churn

Discover Addressable Churn

Score quick wins by identifying customer segments that have addressable churn risk.

Insurance-Discover-Addressable-Churn
Insurance-Attain-Operational-Excellence

Optimize Care Costs

Track and improve service productivity by correlating agent performance with business metrics.

Optimize Care Costs

Track and improve service productivity by correlating agent performance with business metrics.

Insurance-Attain-Operational-Excellence

Create Frictionless Journey

Identify friction points and design self-service options.

Insurance-Lower-Care-Costs

Create Frictionless Journey

Identify friction points and design self-service options.

Insurance-Lower-Care-Costs
Insurance-Build-Competitive-Intelligence

Build Competitive Intelligence

Gather information about your competitors’ products, services and offerings to stay ahead of the curve and win market share.

Build Competitive Intelligence

Gather information about your competitors’ products, services and offerings to stay ahead of the curve and win market share.

Insurance-Build-Competitive-Intelligence

Reduce Customer effort

Identify drivers of effort with granular call categorization and repeat call mapping.

Insurance-Reduce-Customer-Effort

Reduce Customer effort

Identify drivers of effort with granular call categorization and repeat call mapping.

Insurance-Reduce-Customer-Effort

- Retention and Sales Leader of a Leading Subscription-Based Business "VOZIQ’s churn prediction models use the same
AI techniques that big tech companies like Google and Amazon are using, and those have made the
real difference for us"

Handpicked Insights

MicrosoftTeams-image (38)
Handling Churn across the Customer Lifecycle

Customers do not decide to cancel overnight. Hence, retention approaches focused on the end of term are inadequate. Instead, they need to consider the entire lifecycle.

PLAYBOOK

Visualize Unstructured Data

Drive successful retention programs using contact center unstructured data.

CASE STUDY

Customer Success Stories

Explore the stories of retention transformation driven by VOZIQ.