major insurance provider

A Virtual Assistant for Mortgagee Inquires

What if... we could free up call center resources by enabling mortgagee companies to serve themselves?

Our client, a major insurance provider, offers a full suite of financial services products, including auto, home, life, farm/ranch, and business insurance to clients in 14 Western and Midwestern states. 

Mortgagee Inquiry Calls Took the Focus From Customers

In the past, third-party mortgagee companies would call our client’s 800 line to verify insurance coverage (e.g., deductible, amount due). The traffic from these calls comprised 25% of the call volume but did not generate any revenue and detracted from the company’s ability to serve its paying customers.

The company needed to create a way to automatically divert the mortgagee inquiries with an artificial intelligence (AI) solution.

A Virtual Assistant to Reduce Call Volume to Agents

Using IBM’s Watson Assistant, we developed a virtual assistant that integrates with our client's internal systems. The solution provides a natural language interface for inquiries about the status of a homeowner’s insurance.

The virtual agent can answer questions, such as “When is a payment due?” We developed more than 15 capabilities, answers, and intents and then trained stakeholders on the natural language process and taught them how to maintain the virtual agent so the company can add additional questions to the virtual assistant without having to rely on an outside vendor.

We developed a virtual assistant that redirects 25% of our client's former call volume to a self-service model so employees can focus on personal attention to customers when it is needed most.

Results

Natural Language Chatbot Enhances the Inquiry Process

The virtual assistant redirects 25% of our client’s former call volume (approximately 5,000 calls on average per month) to a self-service model.

By off-loading a large volume of third-party mortgagee inquiries, our client can focus on providing personal attention to customers when it is needed most.

In addition, with the new virtual assistant in place, the company can plan for additional innovative ways to leverage artificial intelligence across its business.

We brought a depth of industry experience to our client, as well as proven AI expertise that allowed us to provide background knowledge, tools, guidance, and best practices. More importantly, we were uniquely positioned to help our client build its own AI Competency Center.

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