Challenges
ACKO wanted to leverage technology to make communication experiences around policy, claims, and renewals reassuring and effortless for their customers.
With Ozonetel, they meticulously crafted and fine-tuned a self service IVR — over several sprints — shrinking the need for agent intervention and speeding up response times.
Solution
Results
The solution led to 20% less time spent in IVR, 20% higher routing accuracy, and 50% faster resolutions — all contributing toa CSAT of 90%.
About the Company
ACKO is the tech-first insurance company with its entire operations offered through the digital platform. Founded in 2016 by Varun Dua, ACKO’s entire process is designed to provide a better customer experience and to eliminate the pain points associated with the traditional model, with processes that require zero paperwork, from purchase and claims to renewals. ACKO has pioneered the direct-to-consumer auto insurance space in the country. In a span of 5 years of operations, the company has distributed insurance policies to over 78+ Mn unique customers and issued 1 Bn+ insurance policies.
They approached Ozonetel to find ways to transform claims, inquiries, renewals, and other insurance-related communications into reassuring, frictionless experiences.
Can We Make Claims, Inquiries, and Renewals Effortless?
ACKO’s contact center received calls regarding enrollment, onboarding, app usage, policies, roadside assistance, renewals, claims, or payment assistance. The team identified key goals through which they could improve each of these communication experiences. This included reducing the time spent in the IVR,
accelerating the speed of resolution, and automating query resolution. The product team worked closely with Ozonetel to achieve these goals through four critical steps:
Features: Self-service IVR | Freshdesk Integration | Screen Pop Integration
A Predictive Approach Reduces IVR Time
The team conceptualized a smart IVR system that pre-emptively deduces the reason for an incoming call when it strikes the IVR. The system would utilize CRM data and consider several customer attributes (such as line of business, policy duration, expiry date, possibility of a claim, existing claim status, and endorsements) before rapidly and accurately routing callers to the most relevant branch of the IVR tree. This step helped them reduce time in IVR by 20% and increase routing accuracy by 20%.
Frictionless Self-service for 3000+ Calls Every Month
Understandably, callers had diverse requirements. These ranged from wanting to know their premium at renewal to eligibility and claims. After several sprints, the product team finalized which conversations could be resolved via self-service and which required agent intervention.
The self-service IVR helped customers solve a wide range of requests — policy endorsements, changes, renewals, and more — quickly and without any agent
intervention. Callers could also easily update their policies directly on the IVR.
Consequently, the number of queries handled entirely via self-service IVR and without agent intervention went up from 0 to 3000 calls per month.
Improved Routing Accuracy Boosts Renewals
Implementing advanced routing based on the predictive engine and IVR interactions helped direct queries requiring agent intervention to the right skill group. For instance, those considering a new policy or renewals are routed to the pre-sales team, resulting in improved customer acquisitions and increased revenue
40%
IMPACT: 40% of queries
solved without agent
intervention
58%
IMPACT: 58% lower call
abandonment due to
reduction in wait times
40%
IMPACT: The contact
center’s agent attrition
rate is one-fourth of the
industry average.
Contextual Conversations Cut Handle Times
A Freshdesk integration provided agents with the right context before calls. As a result, they asked fewer questions and offered faster responses, improving the overall customer experience. Consequently, this increased productivity by 100% and reduced average handle times by 50%.
Benefits & Overall Impact
The smart IVR engine made claim settlements and
policy-related queries effortless and reassuring. Most
importantly, this implementation helped the insurance firm
create a distinct, award-winning customer experience,
leading to several happy customer reviews and a CSAT score
that is 15% higher than the industry average
- 90% CSAT (Customer Satisfaction)
- 3000 successful self-service resolutions per month
- 20% decrease in time spent in IVR
- 20% higher routing accuracy
- 50% faster resolutions
