Published on 01-Aug-2011
Validated on 12 Mar 2013
"We have proven that the power of combining customer insight with business processes can lead to smarter decisions and improved performance." - Cameron Hurst, Vice President, Targeted Solutions, Assurant Solutions
Customer:
Assurant Solutions
Industry:
Insurance
Deployment country:
United States
Solution:
Customer Relationship Management, Data Warehouse, Information Governance, Smarter Analytics, Smarter Analytics - Grow & retain customers, Smarter Commerce, Smarter Planet, Web Services, Dynamic Infrastructure, Security: Governance
Smarter Planet:
Smarter Insurance
IBM Business Partner:
Genesys
Overview
Assurant Solutions businesses develop, underwrite, market and administer specialty insurance, extended service contracts and other risk management solutions through collaborative relationships with leading financial institutions, retailers, manufacturers, automobile dealers, funeral homes, utilities and other entities. With operations in 24 cities, including executive offices in Atlanta, GA, Assurant Solutions serves clients and their customers in 12 countries throughout North America, the Caribbean, Latin America, Europe and Asia.
Business need:
The use of traditional call routing models is frustrating to both customers and contact center agents, since the assigned representative is not always the optimal candidate to address the customer’s request. Assurant wanted to take advantage of the wealth of stored information about both customers and agents to improve the call matching process, with the goal of retaining customers and increasing the profitability of those relationships.
Solution:
Assurant’s RAMP (Real-time Analytics Matching Platform), developed collaboratively by IBM and Assurant on an integrated platform supplied by IBM’s Business Partners Genesys and Avaya coupled with IBM advanced analytics, matches customer data with each contact center agent’s specific skills, expertise and past performance to optimize call routing. Real-time predictive analytics automatically keep the call in queue or reassign the call when agents are overloaded. This optimized process keeps customers happy and call center agents motivated, while improving the company’s bottom line.
Benefits:
• Increased saves (customers calling to cancel) by 119 percent and increased customer retention revenue by 187 percent, improving call center profitability through an optimized customer experience
• Reduced agent attrition rate by 25 percent; higher agent retention means lower agent acquisition and training costs as well as improved customer service
Case Study
Assurant Solutions businesses develop, underwrite, market and administer specialty insurance, extended service contracts and other risk management solutions through collaborative relationships with leading financial institutions, retailers, manufacturers, automobile dealers, funeral homes, utilities and other entities. With operations in 24 cities, including executive offices in Atlanta, GA, Assurant Solutions serves clients and their customers in 12 countries throughout North America, the Caribbean, Latin America, Europe and Asia.
The Opportunity
The use of traditional call routing models is frustrating to both customers and contact center agents, since the assigned representative is not always the optimal candidate to address the customer’s request. Assurant wanted to take advantage of the wealth of stored information about both customers and agents to improve the call matching process, with the goal of retaining customers and increasing the profitability of those relationships.
What Makes it Smarter
Assurant’s RAMP (Real-time Analytics Matching Platform), developed collaboratively by IBM and Assurant on an integrated platform supplied by IBM’s Business Partners Genesys and Avaya coupled with IBM advanced analytics, matches customer data with each contact center agent’s specific skills, expertise and past performance to optimize call routing. Real-time predictive analytics automatically keep the call in queue or reassign the call when agents are overloaded. This optimized process keeps customers happy and call center agents motivated, while improving the company’s bottom line.
Real Business Results
· Increased saves (customers calling to cancel) by 119 percent and increased customer retention revenue by 187 percent, improving call center profitability through an optimized customer experience
· Reduced agent attrition rate by 25 percent; higher agent retention means lower agent acquisition and training costs as well as improved customer service
For more information
Please contact your IBM sales representative or IBM Business Partner.Visit us at: ibm.com/insurance
To learn more about Assurant Solutions, visit: www.assurant.com
Products and services used
IBM products and services that were used in this case study.
Hardware:
Power 750, Power Systems running AIX 6
Software:
DB2 for AIX, WebSphere Application Server
Service:
GBS BAO: Advanced Analytics and Optimization, GBS CRM: Contact Center Optimization
Legal Information
© Copyright IBM Corporation 2011 IBM Corporation 1 New Orchard Road Armonk, NY 10504U.S.A. Produced in the United StatesJune 2011All Rights Reserved IBM, the IBM logo, ibm.com, AIX, DB2, Global Business Services, Power, Power Systems and WebSphere are trademarks of International Business Machines Corporation, registered in many jurisdictions worldwide. A current list of IBM trademarks is available on the Web at “Copyright and trademark information” at ibm.com/legal/copytrade.shtml Other company, product or service names may be trademarks or service marks of others. The information contained in this documentation is provided for informational purposes only. While efforts were made to verify the completeness and accuracy of the information contained in this documentation, it is provided “as is” without warranty of any kind, express or implied. In addition, this information is based on IBM’s current product plans and strategy, which are subject to change by IBM without notice. IBM shall not be responsible for any damages arising out of the use of, or otherwise related to, this documentation or any other documentation. Nothing contained in this documentation is intended to, nor shall have the effect of, creating any warranties or representations from IBM (or its suppliers or licensors), or altering the terms and conditions of the applicable license agreement governing the use of IBM software.