Case Study

Accelerating Growth with Significant Conversions, Collections for Major Life Insurer

Industries
BFSI
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When a life insurance company—and globally recognized market leader—was looking for agility and unlimited partnership to align to geographically strategic growth, they knew one customer care expert could deliver. In 2015, this client partner and HGS started to work toward this higher-gear shift, leaning on our ability to build in both operational growth and agility. HGS worked with this client partner to:
• Deliver strong sales conversion performance while raising the bar for NPS.
• Ensure process fixes and agent training to enhance collections.
 

OUR SOLUTION
 

How We Do It

From day one, HGS refreshed training for a more robust focus on insurance products, as well as more sales-assertive scripting. Agent training increasingly focused on customer objection handling, with continual refreshers. Agent tracking was standardized to include performance benchmarking on opportunity, leads, follow-ups, and conversion, with an incentive plan to support success. We implemented our proprietary PACT analysis (focusing on Process-, Agent-, Customer Perception- and Technology-related issues) to ensure sharing of poor call resolution feedback with all the associates to improve NPS scores. Additionally, HGS sought more involvement from the client, to ensure sharing of expertise and alignment and drive toward key objectives.

Business Result

Today HGS’s efforts have made a direct contribution to revenue generation for this client partner, with a 106% year-over-year improvement in assisted buying online. Additionally, our CSAT has recently increased from 84% to 90%. Agent engagement is at an all-time high, with attrition improving to below 8%. Finally, HGS has twice in recent years earned the highest of accolades as a showcase account. In both 2016 and 2019, HGS was chosen as the client’s preferred business outsourcing provider.

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