Insurance Company Boosts Bottom Line with Improved Conversion Rates

Company Overview

A multinational healthcare and insurance company ranked in the top 10 of both the Fortune 500 and the Forbes Global 500, known for their technology-enabled approach to health and wellness.

Situation

It’s a make-or-break moment. More than 50% of the healthcare and insurance company’s new sales revenue is generated during a critical three-month period – the highly competitive, way too short Medicare enrollment period.

The Fortune 50 insurer sought a proven technology solution that would outperform competitive offerings, while improving sales conversions for their Post-65 Medicare Advantage/Medicare Supplement market offering. Their daily KPIs showed a significant performance delta between top-performing agents and medium/poor-performing agents.

By adding XSELL to their tech stack, the insurer gave their new, seasonal hires the upper hand immediately, with limited downtime required. Built with AI that continuously learns and improves, based on top performers’ evolving language, the XSELL solution delivers both proactive and reactive real-time coaching.

With agnostic technology, adding the real-time coaching solution to a contact center is a snap. Instead of ripping and replacing existing tools, it layers in with your current software. The adaptability makes it easy to deploy XSELL across contact centers all at once or in select groups and scale up as adoption and performance skyrockets.

Challenge

The Fortune 50 insurer wanted to identify, understand, and cross-pollinate the behaviors of its top performers across their entire agent pool. Doing so would drive a consistent customer experience, improve sales results, and increase customer satisfaction. The volume of interactions and the complexity of Medicare sales made it difficult to identify successful tactics across unique customer situations.

Still, the right tool might be able to identify critical commonalities. As mentioned, the opportunity was seasonal. Meaning that each year, the company would rapidly hire and onboard new agents to capitalize on the short-term sales cycle. Could a new solution scale on-demand and successfully support new agents with accelerated training and time to proficiency?

Solution

XSELL was selected to meet the moment and capture the opportunity.

The XSELL solution leveraged machine learning, artificial intelligence, and human authenticity to analyze the conversational traits used by the insurance company’s top-performing agents, finding successful strategies and identifying commonalities across seemingly unique customers.

The XSELL solution unlocked the keys to a successful Post 65 Medicare Advantage/Medicare Supplement program with:

• Tactics to build rapport
• Superior discovery
• Elite objection handling
• Consistent real-time agent coaching

The company’s contact center agents would be 100% supported with proven-to-work strategies during every moment of opportunity. And each action is ideally suited to the customer.

Driving superior results included increasing conversion rates by 22% and driving an additional $6.9M in revenue — all while increasing customer satisfaction. Additionally, agents using the XSELL solution reported higher job satisfaction, increased commissions, and reduced attrition.

The final touch was having the XSELL client success team train and support the vendor team to accelerate understanding and adoption. And the results were dramatic. Low-performing agents increased their numbers significantly, building greater agent satisfaction and curbing attrition during this critical period of high-volume sales calls.

The Factor

XSELL is the leader in conversational AI for contact center agent optimization, delivering better agents — and better agent experiences — from the word GO. Fast integration is essential, but what impresses customers most? Rapid success and real results. Agent performance improves on day one, with record-breaking performance achieved within the first 90 days.

And just one hour to launch. Yes, in about 60 minutes, XSELL can help make every agent your best agent. The XSELL real-time coaching solution does the heavy lifting at every challenging point in any conversation. Onboarding and training are concise, making it easy to get any agent up and running quickly.

Layer in full performance transparency, of course. Dashboard reporting helps contact center managers control costs by highlighting how agents perform, progress toward objectives, and work to accomplish other business-critical details. Delivering a highly customized and scalable solution quickly means that XSELL can get your agents' systems up and running with minimal intrusion and downtime.

XSELL Technologies – Know Us By Our Results