Large Insurance Sales Agency Increases QA Efficiency By 14XSpeech Analytics
Overview
A direct-to-consumer insurance sales agency with over 1500 Sales Agents was unable to generate any value while working with a state-of-the-art speech analytics platform. They decided to introduce the Provana ICAP platform and never looked back. Even in the first three months on the Provana platform the agency uncovered staggering gaps in their call monitoring methods, which previously reviewed only 12% of sales calls. In several iterations, working with the agency’s team, Provana enabled the agency to uncover the long-term benefits of speech.
Being regulated by the Centers for Medicare & Medicaid Services (CMS) requires a great deal of QA rigor. Thus, QA is a necessary cost center withopportunity for cost efficiencies. They used Provana ICAP to build a far more rigorous QA process, with a significant increase in call monitoring and amassive decrease in QA staff.
Challenge
The agency was working with a bleeding edge speech analytics technology to stand up a speech analytics program. Tailoring speech analytics to specific use cases requires speech engineers to learn the target domain and build out dozens of categories. The agency struggled to operationalize this work into a meaningful set of scorecards. By implementing Provana ICAP, the agency benefitted from multiple pre-built classification frameworks, as well as Provana’s experienced speech engineering team, willing to work with agency staff to build out the right categories and metrics.
Prior to using ICAP, the agency’s QA personnel would only review one sales call per Sales Agent per week. The agency had a ratio of 17 Sales Agents per QA specialist, with the QA team cresting at over 80 staff. The feedback QA team had for the Sales Agents was not streamlined through one platform and required multiple channels to listen to the calls, score on a lengthy scorecard, and share feedback with respective teams.
Performance Managers would have a one-on-one discussion with the Sales Agents, but the time-consuming nature of their feedback loop was counterproductive and was not always accurate due to the small sample size of reviewed calls.
Solution
Provana’s ICAP speech analytics solution made sense for multiple reasons:
- 100% Call Monitoring: ICAP automatically and objectively scores every single call made, using a comprehensive scoring model.
- Increased QA Efficiency: Automation has increased efficiency levels through the ability to search through transcripts, confirm automated scores, and easily find call events.
- 360 Coaching Feedback: QA specialists provide feedback to Sales Agents, Sales Managers coach the agents, and Sales Leadership tracks coaching trends through ICAP.
- Consolidated Platform: Very easy to review calls, track QA productivity, and coach Sales Agents to increase compliance through one streamlined, consolidated platform.
Results
Provana’s ICAP speech analytics solution helped the insurance sales agency achieve the following:
- Significantly reduce risk by reviewing 100% of calls, versus the previous 12%.
- Increase QA efficiency from 5 to 75 reviewed sales calls per day per QA specialist.
- Reduce spend on QA from 80 staff to only 15.
- Generate CMS-grade reporting directly from their speech platform.