Industry centric customer support strategy for innovative Insurance Start-Up

Case Study

The ClientThe client is an innovative insurance startup using science and big data to negotiate special rates on insurance for the health conscious people.

The ChallengeThe client was looking for a partner who could provide inbound and support for their customers and potential customers in the pre‑qualification and purchasing of suitable life insurance plans. .

iOPEX SolutioniOPEX was selected owing to its all-round capability in the key areas that the client was looking for. These included understanding their insurance plans inside-out to tailor a relevant customer support strategy, as well as being flexible, scalable, and cost‑sensitive to the changing needs of their startup business.

iOPEX began by conducting an audit of the client’s existing processes and identifying gaps that needed to be filled.

Some of the services that we provided as part of this engagement were:

■ Built a support team from its Manila delivery center to center to support both inbound and outbound support calls.

■ customer support team was trained sufficiently on the different insurance plans/products and services that were to be supported.

Industry centric customer support strategy for innovative Insurance Start-Up

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■ Studied historical data to identify the major causes, which led customers to cancel life insurance plans and the points of failure in saving these customers.

■ Conducted brainstorming sessions to identify areas where customers could be saved.

■ Used a control‑impact matrix to identify high‑impact controllable factors and derived an action plan.

■ Defined a new methodology of handling retention calls and trained our agents on the new approach to sell life insurance plans.

■ Continued to monitor their calls and provide coaching to ensure improved performance.

■ Built a detailed knowledge base that helped bring down the average handle time.

■ Dispatched intuitive emails to customers with additional information about the features included in their life insurance plans, along with relevant links based on their individual interests.

Engagement Outcome ■ Excellent service delivery – 99.8% compliance on SLA deliverables.

■ Helped generate over USD 3 million via new subscription.

■ Improved the appointment turnout rates by 30%.

■ Reduced AHT by 20%.

■ Improved CSAT scores and maintained it consistently at 96% for voice and 98% for email.

Case Study

About iOPEXiOPEX, is an intelligent automation and services company that drives digital transformation in user acquisition, service fulfillment, customer service and back‑end operations. iOPEX was founded in 2009 and is headquartered in San Jose, US. Today we have over 1,600 employees servicing customers across the globe including Fortune 100 and some of the most world’s most innovative companies.

Email: solutions@iopex.com | Phone: +1-408-747-1788 | Website: www.iopex.com

iOPEX Technologies Inc.1245 S. Winchester Blvd, Suite 309, San Jose, CA. 95128