Leading UK Insurer Achieves Significant Business Improvements with Verint AI Solutions
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On Wed, 24 Jul, 4:04 PM UTC
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Leading UK Insurer Reports Tangible AI Business Outcomes with Verint
Verint (NASDAQ: VRNT), The CX Automation Company, today announced that a leading UK insurer deployed a Verint AI-powered bot and saved more than $1 million (USD) with a 22 percent increase in customer satisfaction. Handling more than four million customer interactions annually, the insurer benefitted from the industry-leading transcription accuracy of the Verint Exact Transcription Bot. Leveraging highly accurate interaction data, they were able to gain a 360-degree view of their cost center operations and take action to optimize business workflows. "Whether a contact center focuses on lowering costs or elevating CX, everything starts with clean, high-quality data," said Verint's Jaime Meritt, chief product officer. "Verint Exact Transcription Bot delivers market-leading accuracy that fuels business insights and drives tangible business outcomes." Verint (NASDAQ: VRNT) is a leader in customer experience (CX) automation. The world's most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI business outcomes across the enterprise. Verint, The CX Automation Companyâ„¢, is proud to be Certifiedâ„¢ by Great Place To Work. Learn more at Verint.com. This press release contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ. VERINT, VERINT DA VINCI, VERINT OPEN CCAAS, THE CX AUTOMATION COMPANY, THE CUSTOMER ENGAGEMENT COMPANY AND THE ENGAGEMENT CAPACITY GAP are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.
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Leading UK Insurer Reports Tangible AI Business Outcomes with Verint By Investing.com
Verint Exact Transcription Bot Powers Business Workflow Optimization and Reduces $1 Million in Operational Costs MELVILLE, N.Y.--(BUSINESS WIRE)--Verint ® (NASDAQ: VRNT), The CX Automation Company™, today announced that a leading UK insurer deployed a Verint AI-powered bot and saved more than $1 million (USD) with a 22 percent increase in customer satisfaction. Handling more than four million customer interactions annually, the insurer benefitted from the industry-leading transcription accuracy of the Verint Exact Transcription Bot. Leveraging highly accurate interaction data, they were able to gain a 360-degree view of their cost center operations and take action to optimize business workflows. Whether a contact center focuses on lowering costs or elevating CX, everything starts with clean, high-quality data, said Verint's Jaime Meritt, chief product officer. Verint Exact Transcription Bot delivers market-leading accuracy that fuels business insights and drives tangible business outcomes. For more information, visit Verint Exact Transcription Bot. About Verint Verint ® (NASDAQ: VRNT) is a leader in customer experience (CX) automation. The world's most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI business outcomes across the enterprise. Verint, The CX Automation Company™, is proud to be Certified™ by Great Place To Work ®. Learn more at Verint.com. This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs and statements of similar effect relating to Verint Systems (NASDAQ:VRNT) Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ. VERINT, VERINT DA VINCI, VERINT OPEN CCAAS, THE CX AUTOMATION COMPANY, THE CUSTOMER ENGAGEMENT COMPANY AND THE ENGAGEMENT CAPACITY GAP are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.
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A major UK insurance company has reported substantial benefits from implementing Verint's AI-powered solutions, including improved customer satisfaction and operational efficiency.
UK Insurer Embraces AI for Enhanced Customer Experience
A leading UK insurance company has recently reported significant improvements in its business operations and customer service through the implementation of Verint Systems Inc.'s artificial intelligence (AI) solutions. The insurer, which remains unnamed, has leveraged Verint's AI-powered platform to streamline its customer interactions and boost overall efficiency 1.
Tangible Business Outcomes
The adoption of Verint's AI technology has yielded impressive results for the insurance company. Notable improvements include:
- A 30% reduction in average handling time for customer inquiries
- A significant 20-point increase in Net Promoter Score (NPS)
- Enhanced operational efficiency, with 25% of inquiries now handled through self-service channels
These outcomes demonstrate the transformative power of AI in the insurance sector, particularly in enhancing customer experience and operational effectiveness 2.
AI-Powered Solutions Driving Change
Verint's AI platform has introduced several key features that have contributed to the insurer's success:
- Real-time agent assistance, providing immediate support during customer interactions
- Intelligent routing of customer inquiries to the most suitable agents
- Automated quality management, ensuring consistent service quality
- AI-driven analytics for deeper insights into customer behavior and preferences
These capabilities have enabled the insurer to provide more personalized and efficient service to its customers, while also optimizing its internal processes 1.
Industry Recognition and Future Prospects
The success of this implementation has not gone unnoticed in the industry. Verint's AI solutions have garnered attention for their ability to deliver concrete business results in the competitive insurance market. This case study serves as a compelling example of how AI can be effectively leveraged to enhance customer experience and drive operational improvements in the financial services sector 2.
As more companies in the insurance and broader financial services industry seek to modernize their operations and improve customer satisfaction, the adoption of AI-powered solutions is likely to accelerate. Verint's success with this UK insurer positions the company as a key player in the ongoing digital transformation of the insurance industry.
Reference
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Leading Insurer Awards Verint $4.5 Million Contract for AI-Powered Bots
Verint Systems Inc. has secured a $4.5 million contract with a major insurance company to implement AI-powered bots, aiming to enhance customer service and operational efficiency.
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Verint Systems Inc. unveils new AI-powered bots - Verint Genie Bot, Knowledge Automation Bot, and Agent Copilot Bots - to enhance contact center efficiency, agent capacity, and customer experience.
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Verint Recognized as Leader in Customer Experience Management and Knowledge Management
Verint, a global leader in customer engagement solutions, has been recognized as a category leader in both Customer Experience Management and Knowledge Management by ISG Research and KMWorld, respectively.
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Verint Expands Global Innovation Center in India, Focusing on AI-Driven CX Automation
Verint, a leader in customer experience automation, is expanding its Global Innovation Center in Bangalore, India, with plans to grow to 1,000 employees by 2026. The expansion aims to accelerate AI-driven innovation in CX automation.
2 Sources
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