Balto Case Studies How Balto is Changing Insurance Conversations

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	How Balto is Changing Insurance Conversations Balto

How Balto is Changing Insurance Conversations

Balto

Technology Category	Application Infrastructure & Middleware - API Integration & Management
Applicable Industries	Healthcare & Hospitals
Applicable Functions	Sales & Marketing
Challenge	One of the largest health insurance companies in the country was looking for ways to improve their close rate. They decided to conduct a one-month long A/B study with 90 of their agents to test the effectiveness of Balto, a real-time guidance platform. The study aimed to compare the quote rate and the close rate between 45 Non-Balto users and 45 Balto users. The company wanted to validate the claim that Balto could significantly enhance the agent’s close rate. Read More
About Customer	The customer is one of the largest health insurance companies in the United States. The company has a large number of agents who interact with potential customers on a daily basis. The company's main goal is to improve their close rate, which is the percentage of potential customers who end up purchasing their insurance products. To achieve this, they are always on the lookout for innovative solutions that can help their agents perform better and close more deals. Read More
Solution	The company decided to implement Balto, a real-time guidance platform, to help improve their close rate. They conducted a one-month long A/B study with 90 of their agents. Half of these agents used Balto while the other half did not. The study aimed to compare the quote rate and the close rate between the two groups. Balto's real-time guidance was expected to provide the agents with the necessary tools and information to close deals more effectively. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - API Integration & Management

Applicable Industries

Healthcare & Hospitals

Applicable Functions

Sales & Marketing

Challenge

One of the largest health insurance companies in the country was looking for ways to improve their close rate. They decided to conduct a one-month long A/B study with 90 of their agents to test the effectiveness of Balto, a real-time guidance platform. The study aimed to compare the quote rate and the close rate between 45 Non-Balto users and 45 Balto users. The company wanted to validate the claim that Balto could significantly enhance the agent’s close rate.

About Customer

The customer is one of the largest health insurance companies in the United States. The company has a large number of agents who interact with potential customers on a daily basis. The company's main goal is to improve their close rate, which is the percentage of potential customers who end up purchasing their insurance products. To achieve this, they are always on the lookout for innovative solutions that can help their agents perform better and close more deals.

Solution

The company decided to implement Balto, a real-time guidance platform, to help improve their close rate. They conducted a one-month long A/B study with 90 of their agents. Half of these agents used Balto while the other half did not. The study aimed to compare the quote rate and the close rate between the two groups. Balto's real-time guidance was expected to provide the agents with the necessary tools and information to close deals more effectively.

Impact #1	The implementation of Balto resulted in a significant improvement in the company's close rate. The agents who used Balto had a 71% higher quote rate and a 132% higher close rate than those who did not use the platform. Furthermore, the ramp time for new agents decreased significantly. New agents in the Balto group had a 47x higher close rate than new agents in the Non-Balto group. The company was so impressed with the results that they expanded the use of Balto to hundreds of their agents.

Impact #1

The implementation of Balto resulted in a significant improvement in the company's close rate. The agents who used Balto had a 71% higher quote rate and a 132% higher close rate than those who did not use the platform. Furthermore, the ramp time for new agents decreased significantly. New agents in the Balto group had a 47x higher close rate than new agents in the Non-Balto group. The company was so impressed with the results that they expanded the use of Balto to hundreds of their agents.

Benefit #1	71% higher quote rate for Balto users
Benefit #2	132% higher close rate for Balto users
Benefit #3	47x higher close rate among new hires using Balto

Benefit #1

71% higher quote rate for Balto users

Benefit #2

132% higher close rate for Balto users

Benefit #3

47x higher close rate among new hires using Balto

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Overview

How Balto is Changing Insurance Conversations

Operational Impact

Quantitative Benefit