Observe.AI Case Studies Boosting Compliance and Conversions in Insurance with IoT: A Case Study

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	Boosting Compliance and Conversions in Insurance with IoT: A Case Study Observe.AI

Boosting Compliance and Conversions in Insurance with IoT: A Case Study

Observe.AI

Technology Category	Cybersecurity & Privacy - Security Compliance Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries	Education Finance & Insurance
Applicable Functions	Quality Assurance Sales & Marketing
Use Cases	Usage-Based Insurance Virtual Training
Services	Testing & Certification Training
Challenge	The Company, a leading direct-to-consumer homeowners insurance technology company, was facing challenges in training their insurance agents and ensuring compliance. They were seeking a platform that would provide a data-driven approach to training, improve the efficiency of their process, and deliver quota attainment improvements for sales. The existing training process was manual and inefficient, relying on subjective self-evaluations by insurance agents. The feedback process lacked contextual evidence and a history of past performance. The company was also struggling with manual, stop-and-resume methods during quality auditing procedures to protect sensitive information, which posed significant challenges in a remote work environment. Read More
About Customer	The Company is a leading direct-to-consumer homeowners insurance technology company that delivers fully digital homeowners insurance with an elegant user experience, accurate pricing, and fast, high-quality claims service. As a fast-growing organization, they were seeking ways to improve their onboarding programs and sales training to drive higher conversions on calls. Compliance is a top priority for the Company, and recording customer calls is mandatory in the insurance industry. They recognized the opportunity to simultaneously meet compliance requirements and improve sales training and onboarding with Observe.AI. Read More
Solution	The Company adopted Observe.AI, a platform that met their needs for redacting sensitive information and providing targeted, contextual coaching to their insurance agents. The platform enabled the company to automatically identify top and bottom performers and prioritize coaching for those who needed it most. Observe.AI’s Team Dashboard allowed managers to monitor performance across all sales teams, filter sales rep performance based on evaluation forms, uncover performance trends, and adapt scripting or processes causing inefficiencies. The platform was also used to provide personalized coaching at scale, deliver specific feedback to each rep, and tie coaching sessions to action plans that foster accountability and commitment. Additionally, Observe.AI’s Selective Redaction Solution provided a holistic view of customer conversations while easily redacting sensitive details from calls and transcripts. The Company also used Observe.AI to support their six-week onboarding program for new reps. Read More Log in to view content
Contents

Technology Category

Cybersecurity & Privacy - Security Compliance

Platform as a Service (PaaS) - Application Development Platforms

Applicable Industries

Education

Finance & Insurance

Applicable Functions

Quality Assurance

Sales & Marketing

Use Cases

Usage-Based Insurance

Virtual Training

Services

Testing & Certification

Training

Challenge

The Company, a leading direct-to-consumer homeowners insurance technology company, was facing challenges in training their insurance agents and ensuring compliance. They were seeking a platform that would provide a data-driven approach to training, improve the efficiency of their process, and deliver quota attainment improvements for sales. The existing training process was manual and inefficient, relying on subjective self-evaluations by insurance agents. The feedback process lacked contextual evidence and a history of past performance. The company was also struggling with manual, stop-and-resume methods during quality auditing procedures to protect sensitive information, which posed significant challenges in a remote work environment.

About Customer

The Company is a leading direct-to-consumer homeowners insurance technology company that delivers fully digital homeowners insurance with an elegant user experience, accurate pricing, and fast, high-quality claims service. As a fast-growing organization, they were seeking ways to improve their onboarding programs and sales training to drive higher conversions on calls. Compliance is a top priority for the Company, and recording customer calls is mandatory in the insurance industry. They recognized the opportunity to simultaneously meet compliance requirements and improve sales training and onboarding with Observe.AI.

Solution

The Company adopted Observe.AI, a platform that met their needs for redacting sensitive information and providing targeted, contextual coaching to their insurance agents. The platform enabled the company to automatically identify top and bottom performers and prioritize coaching for those who needed it most. Observe.AI’s Team Dashboard allowed managers to monitor performance across all sales teams, filter sales rep performance based on evaluation forms, uncover performance trends, and adapt scripting or processes causing inefficiencies. The platform was also used to provide personalized coaching at scale, deliver specific feedback to each rep, and tie coaching sessions to action plans that foster accountability and commitment. Additionally, Observe.AI’s Selective Redaction Solution provided a holistic view of customer conversations while easily redacting sensitive details from calls and transcripts. The Company also used Observe.AI to support their six-week onboarding program for new reps.

Impact #1	The implementation of Observe.AI has brought about significant operational improvements for the Company. The platform has enabled the company to level up low performers, ensure compliance, and boost onboarding programs, leading to a 10% improvement in their conversion and close rate. The Company has been able to provide personalized coaching at scale, fostering a culture of continuous improvement. The use of Observe.AI’s Selective Redaction Solution has also allowed the Company to meet compliance requirements while maintaining the integrity of the call, providing a holistic view of customer conversations while easily redacting sensitive details. The platform has also been instrumental in supporting the Company's six-week onboarding program for new reps, offering an additional layer of support and helping to improve retention and overall performance metrics for sales teams.

Impact #1

The implementation of Observe.AI has brought about significant operational improvements for the Company. The platform has enabled the company to level up low performers, ensure compliance, and boost onboarding programs, leading to a 10% improvement in their conversion and close rate. The Company has been able to provide personalized coaching at scale, fostering a culture of continuous improvement. The use of Observe.AI’s Selective Redaction Solution has also allowed the Company to meet compliance requirements while maintaining the integrity of the call, providing a holistic view of customer conversations while easily redacting sensitive details. The platform has also been instrumental in supporting the Company's six-week onboarding program for new reps, offering an additional layer of support and helping to improve retention and overall performance metrics for sales teams.

Benefit #1	5% improvement in average scores within three months of using Observe.AI
Benefit #2	10% increase in the number of binds closed per agent per month within eight months
Benefit #3	30% reduction in agent fails

Benefit #1

5% improvement in average scores within three months of using Observe.AI

Benefit #2

10% increase in the number of binds closed per agent per month within eight months

Benefit #3

30% reduction in agent fails

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Overview

Boosting Compliance and Conversions in Insurance with IoT: A Case Study

Operational Impact

Quantitative Benefit