European Financial Institution

Background

The financial institute is predominantly active in insurance and it is also one of the biggest internet-based banks in Europe. The company's business operations are mainly focusing on the Scandinavian region.

As all its banking operations are internet-based, having excellent online customer service is crucial for this company. Due to this fact, management realized that Customer Satisfaction can be achieved by increasing the quality and functionality of the Customer Service. Thus, Customer Service could help in providing the competitive edge over the company's competitors.

Key Objectives

As the financial sector is very complex, the financial institute was aiming to provide accurate, always available guidance on their website. Thus, customers have access to help and information when they need it. Specific objectives for the project were:

• Add Functionality to the website

• Increase Accessibility of Customer Service

• Reduce Inbound Calls significantly

• Drive users to Web as first channel of contact

• Cut costs through optimization and automation of services

• Provide 24/7 service to customers

• Increase Customer Satisfaction

The Solution

In close cooperation with in-house teams of the company, Artificial Solutions implemented two separate Virtual Chat Agents (VCAs) for the company's insurance and banking websites. These VCAs provide customers with accurate information and guidance in registering and purchasing processes. The focus was thereby set on the following key areas:

• Directing customers from more expensive (phone) to more cost efficient channels (web).

• Increasing Self-Service solutions to provide better and more comprehensive service.

With a constant improvement in the knowledge of the VCAs, the assistants are able to manage more specific customer queries, further improving the efficiency of the Customer Service.

Initial Conclusions

The success of the initial period has led to a full deployment of the project. Through a constant improvement of the knowledge base, the financial institute has been able to increase Customer Satisfaction.

Possible plans of linking the two separate agents, could guarantee a successful handling of queries about insurance as well as banking from both websites. Discussions about implementing an Agent Based Chat (ABC) and the E-mail Management System (EMS) give the prospect of further increased cost efficiency and improvement of Customer Satisfaction.