Automated virtual support for agents
Transformed experience for the agent network via virtual agent support using chatbots and RPA
Process
The client is in Motor Insurance sector, where they provide insurance comparison services through their online platform. They have a tie-up with leading insurance companies in and around India. In addition to direct customer the client also supports insurance agents in providing comparative quotes. The support team would receive queries from agents via calls or chats, and they would provide quotes from insurers to the agents. The process was quite cumbersome and manual in nature with no automation.
Solution
The solution required automating interaction with agents and collating information from insurers. The first part was automated with the help of chat bots using Natural Language Processing (NLP) to read unstructured chats. We had to decipher chats from agents for whom the first language was not English, and hence NLP models were used to achieve high accuracy. The second part of the process was automated using Robotic Process Automation (RPA), where bots were used to collate premium information from multiple insurers. Once collated the Chatbot shared the information back to agents and responded to queries or clarifications.
Challenges Addressed
Higher costs
Manual process resulted in high costs.
High Turnaround Time (TAT)
The support team took time to collate information for agents resulting in high TAT.
Low Prospect Closures
High TAT resulted in low customer satisfaction and as a result in low closures.
Errors and duplicate payments
Incorrect processing of invoices caused duplicate payments to vendors which had high financial impact to the company.
Quotes from preferred insurers
Since collating data from multiple insurers was time consuming, the support team used few preferred insurers which might miss on the best possible deal.
Outcome
- Reduction in manual effort by 80%.
- Reduction of TAT from 4 Hours to 10 mins.