Insurance Revolution Bespoke AI-Powered Speech Analytics Solution that will,
– capture, transcribe, analyse and QA score 7.7 million calls annually
– assist identification of vulnerable customers
– provide evidence compliance with FCA Consumer Duty and wider regulation
Insurance Revolution has commissioned technology solutions specialist Avoira to develop a bespoke AI speech analytics platform to automate its quality assurance procedures.
Built around the multi-award-winning Xdroid customer experience (CX) tool, the solution will capture, analyse, transcribe and score over 7.7 million calls handled annually by Insurance Revolution.
Currently the firm is dependent upon manual, random sampling and evaluation of calls handled by 100 agents at its offices in Manchester and Stoke.
Xdroid will also be trained to enable the broker to better identify and support vulnerable customers and evidence compliance with the FCA’s Consumer Duty regime and other regulatory protocols.
The project will initially see Avoira’s CX team develop a speech recognition and transcription engine based on customer dialogue and the tech company’s wider experience in the UK contact centre market.
This will then go live across the business, yielding a variety of metrics to support compliance and inform best practice in sales and service delivery.
Ray Westwick, CEO – Broking at Insurance Revolution, explaining the decision to invest in the sophisticated AI-powered platform, sai,
“Appropriately enough, Xdroid is going to revolutionise our QA analysis, ensuring that every call is scored according to the parameters we set.
“Not only will it save an incredible amount of time and effort, it will be more accurate, providing a 360-degree view of service standards, sales messaging and regulatory compliance.”
Avoira won the contact following a competitive pitch, winning out based upon the proven capabilities of Xdroid and the company’s track record in creating bespoke solutions.
That experience includes provision of an award-winning deployment at Principal Insurance.
“Avoira were able to demonstrate much greater transcription accuracy, based on analysis of real-life calls and that Xdroid is a particularly powerful reporting and trend identification tool. The ability to train the engine to recognise Insurance Revolution’s specific use of language and meet our defined business needs was crucial.”
Ian Taylor, Avoira’s head of CX said that the company’s latest contract win demonstrates that Xdroid is fast becoming UK brokers’ analytics tool of choice.
“We’re delighted to be partnering with Insurance Revolution, a forward-thinking broker that fully understands how harnessing the latest AI analytics powers productivity, sales performance and customer satisfaction.
“Xdroid is fast capturing the imagination of the more tech-oriented brokers, a number of whom are talking to us about developing their own tailor-made solutions.”
Avoira help to solve the business challenges of their customers through technology.
They provide consultancy, project management and installation services, as well ongoing support to ensure that their customers are happy.
They have a set of solution pillars where they have leading expertise and these include: Avoira Radio, Avoira IT, Avoira Communications, Avoira Xperience, Avoira Devices and Avoira Audio-Visual.
