CASE STUDY Health Insurance Provider Generates Insights and Savings with NICE IVR Optimization. Copyright 2017 NICE. All rights reserved.

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1 CASE STUDY Health Insurance Provider Generates Insights and Savings with NICE IVR Optimization

2 TABLE OF CONTENTS The Challenge... 3 Solution Highlights... 3 The Impact... 4 IVR Journey Transformation to Omni-Channel Customer Journey... 5 About NICE... 6

3 The Challenge Customers interact with organizations via multiple channels, but most people still prefer to call and talk to an agent. While cost efficiency provides a clear motivation for businesses to increase customer self-service, interactive voice response (IVR) is the most disliked channel among customers, with 60% typically bypassing the system to speak with a live agent. A health insurance provider in North America, serving more than 13 million customers, was struggling to create visibility to its IVR journeys, and failing to identify opportunities to improve the IVR experience. The organization lacked the necessary information and analytics to recognize where customers were struggling, and determine where it could improve and shorten the customer s journey. Furthermore, they sought to: Identify top failure points within the IVR, as well as repeat callers Improve IVR application and containment by age range Analyze IVR performance to understand the behaviors and drivers of agent transfers (i.e. which IVR menus produced most transfers) Understand containment rates for Automated Clearing House (ACH) payments Enable self-service analytics, reporting, and dashboards Understand diverse customer profiles/personas o Example: Customers aged 85+ receive specialized routing; at what age can the organization observe an inflection point to agent transfers? Solution Highlights The customer implemented NICE s IVR Optimization solution to enable self-service IVR journey mapping and analysis, which provides business groups with a clear visibility into the customer s IVR experience. IVR Optimization allows analysts across the organization to share business insights, and identify both IVR strengths and opportunities. Using an intuitive workspace for custom reports, dashboards, journey visualization, and drilldown analysis into specific business scenarios, organizations may continuously apply changes and track their impact. Project Scope The implementation project was comprised of multiple IVR systems (e.g. natural language, traditional, and visual IVRs), serving various lines of business within the organization. It encompassed: 30 million unique customers representing providers, brokers, and members, holding different policy types (e.g. groups vs. individuals) 16 months of data including 75.5 million IVR interactions 10 different product lines (e.g. dental products, life products, long-term disability, and others) CRM data integrated with IVR interactions data to generate a complete view of the customers and their journeys across all IVR touchpoints Why IVR Analytics? NICE IVR Optimization provides organizations with actionable insights regarding opportunities to streamline contact center operations and boost customer self-service. The solution creates a dynamic mapping of the complete customer journey and helps to investigate the IVR complexity to identify flows, operational bottlenecks, drop-offs, and deflection points in deep detail.

4 Intuitive IVR Journey Visualization Automatically gather and display all IVR-related information in a visual sequence, including relevant statistics about containment rates, drop-offs, repeat callers, etc. One-Click Insights Obtain quick insights with the click of a button, enabling rapid understanding of the improvement opportunities hidden within the customer s IVR journey. Scenario Analyzer Analysts can zoom into specific scenarios (e.g. calls related to a specific action) using flexible filters and drill-down capabilities to uncover customer behavior patterns. The Impact Implementing NICE IVR Optimization enabled the brand to quickly, easily, and effectively analyze its IVR performance and identify major opportunities for improving customer experience. They were able to gain a clear view of containment rates and call transfers, analyze the data by demographic factors, and identify success and failure authentication flows, in addition to taking advantage of out-of-the-box reports and dashboards for in-depth analysis. A major reduction of agent transfer rates led to nearly $6M in annual savings. IVR Repeat Callers All IVR calls were mapped into nearly 400 different caller intents to enable detailed analysis of the IVR experience. Such analysis helped to identify chronic IVR customers and their most common paths within the IVR system. By clarifying root causes, and common IVR journeys for repeat callers, the organization was empowered to alter its IVR process accordingly and generate a return on its technology investment within two months. IVR Containment and Failure Points Custom reports and dashboards enabled the organization to isolate quickly key metrics and trends. Among other findings, this data demonstrated containment rates do not vary significantly for older age ranges, confirming the existing IVR routing mechanism for older members is already optimal. Otherwise, the organization was empowered to determine where customers were falling off and why, and implement (then measure the impact of) process adjustments to

5 ensure customers achieve their desired ends, supporting both improved customer experiences and internal efficiency. Using the insights generated by NICE IVR Optimization, the provider discovered more than 40,000 calls per year could be eliminated by adding an ACH payment option to the IVR menu. Furthermore, each percentage of additional IVR containment eliminates 980,000 calls to the contact center and $5.8 million in operational costs; containment optimization alone provided value to the organization far surpassing the overall technology investment. Individual Customer Journeys NICE IVR Optimization solution allows them to drill down into specific member journeys and identify behavior patterns, as well as common failure points. In at least one case, drilling into a specific customer s data revealed a 30-step journey through the IVR; long interactions such as this are most likely to result in transfer to an agent and a compromised customer experience. The implementation presented clear value for the organization, with much-improved customer experiences and operational savings resulting from successful strategy and execution. IVR Journey Transformation to Omni-Channel Customer Journey Following a successful IVR Optimization project, the business expanded its scope to include NICE Customer Journey Optimization (CJO). The CJO solution provides comprehensive visualization and mapping of all customer journeys, across all engagement channels, enabling brands to focus on such matters as: Determining what drives members to call after trying to self-serve digitally and act to reduce call volume Determining contact frequency, and reasons why some abandon their enrollment process Observing channel preferences and analyzing behavior by demographic (age, location, etc.) Understanding which topics/issues drive repeat calls within a certain number of days and act to reduce call volume Identifying high-effort journeys that lead customers to churn Identifying what drives customer complaints With NICE CJO in place, the organization can use executive-level dashboards to convey critical information across the business, automatically visualize cross-channel customer journeys, zoom into specific business scenarios to uncover customer behavior patterns, and leverage the solution s powerful, embedded business intelligence toolkit. To learn more about mastering your customer s journey with NICE Customer Engagement Analytics, please visit us at

6 CONTACTS Global International HQ, Israel, EMEA, Europe & Middle East, T , F T , F Americas, North America, Asia Pacific, Singapore Office T , F T , F The full list of NICE marks are the trademarks or registered trademarks of Nice Systems Ltd. For the full list of NICE trademarks, visit all other marks used are the property of their respective proprietors. ABOUT NICE NICE (NASDAQ: NICE) is the worldwide leading provider of enterprise software solutions and that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE solutions help the world s largest organizations deliver better customer service, ensure compliance, combat fraud and safeguard people. Over 25,000 organizations in more than 150 countries, including over 80 of the Fortune 100 companies, are using NICE solutions. WP-#### 08/2017 Contents of this document are Copyright 2017