Philadelphia Insurance Realizes VoC Return on Investment


Confirmit Team

Confirmit Team

Author Bio

Confirmit’s dedicated teams work to deliver world-leading customer experience, Voice of the Employee and Market Research solutions. 


Author Bio

Philadelphia Insurance Case Study: Using customer feedback solutions to improve customer experience in insurance

"The sophisticated Confirmit dashboard enables us to parse the data by product, geography or even business process, such as a claim or a call center query. With three clicks of a button instead of three days of analysis, a regional manager can gauge a group’s performance."
— Seth Hall , VP Customer Service 

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Challenge

Previously expected market share was no longer guaranteed and the competitive landscape began to get crowded. Philadelphia Insurance realized that long-term success in this new market required a fresh strategy – and a differentiator to set them apart from competitors.

Solution

Philadelphia Insurance partnered with Confirmit to design and implement a Voice of the Customer (VoC) program to enable the insurer to gain a line of sight into every part of the customer lifecycle. Confirmit provides a tailored, multichannel VoC solution with role-based reporting and alerting capabilities.

Customer feedback translates into real changes

Key examples of customer feedback resulting in immediate company changes and improved customer service include:

  • Online chat: Customers shared online chat was a positive experience for getting their questions and issues resolved, however it was hard to find the chat button on the website. Philadelphia Insurance then changed the location of the button, increasing its chats by 10 percent and directly reducing call volume.
  • Auto ID cards: In order to cut costs, Philadelphia Insurance revised its policy of sending auto ID cards with renewal notices for its collector car insurance product. Resulting VoC feedback was eyeopening, with about 10 percent of the 130,000 policyholders actively criticizing the decision. This real-time feedback allowed the organization to quickly reverse its decision, and just seven weeks after launching the new policy, start sending out cards.
  • New billing system: A major factor in Philadelphia Insurance’s decision to purchase a new billing system was that billing issues accounted for 33 percent of complaints. What Philadelphia Insurance learned was that its customer base needed a more effective and efficient billing system so that they (the agents) could more effectively manage and assist the policy holders.

Three-stage process ensures meaningful improvements to drive future success

Philadelphia Insurance uses Confirmit’s VoC solution, to listen, analyze and act on customer and agent feedback. “We now listen smartly, with purpose,” explains Hall. A coordinated approach ensures that the company mines actionable insight from every point of the customer lifecycle, from the sales process through to back-end transactional pieces such as claims and problem resolution.
Role-based reporting, customizable dashboards and real-time access to the data guarantee that the Philadelphia Insurance team sets metrics around the areas that matter most to customers.

Hall touts the comprehensive Action Management technology as the most vital piece of the VoC program. With full alert capabilities, advanced case management and task-centered case processing, the Confirmit solution enables prioritization of open items and arms the team with the information needed to take corrective actions. “Without this type of feedback it was difficult to truly integrate our customer’s voice. The management team now uses the insight to assist with our strategic direction.” Says Hall.

Results

  • Between 2010 and 2013, the insurer’s Net Promoter® Score (NPS) rose from 52.7 to 55.3
  • Management now relies on an automated alert system
  • Renewal rate change increased by nearly 3%
  • Customer retention now exceeds 90%

*All trademarks are the property of their respective owners. Net Promoter, Net Promoter Score, and NPS are trademarks of Satmetrix, Inc., Bain & Company, Inc., and Fred Reichheld.”

 
 

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