Avoira is proud to announce that our innovative partnership with Xdroid and Principal Insurance has been named a finalist in the prestigious “Best Improvement Award – External Consulting/Training Services” category at the 2024 Contact Center World (CCW) Global Top Ranking Performers Awards.
This nomination recognises the transformative impact our combined solutions have had in revolutionizing Principal Insurance’s contact centre operations through groundbreaking speech analytics capabilities.
Meeting New Industry Challenges Head-On
The financial services industry has seen increasing regulatory demands to enhance consumer protection and identify potential vulnerabilities. The UK’s new FCA Consumer Duty Guidelines, which took effect in July 2023, presented new challenges. Whilst Principal’s staff are well trained and understand their responsibilities, under the Duty, the company has to be able effectively measure good outcomes and ensure it is fully complying with the new regulations
Leveraging Xdroid’s cutting-edge VoiceAnalytics solution, implemented and integrated by Avoira, Principal Insurance could automatically detect over 130 key phrases across 14 vulnerability categories like financial distress or personal crises. This allowed them to not only meet the new guidelines, but exceed them, whilst securing evidence of compliance for the regulator.
Ian Taylor, Head of CX at Avoira said,
“Tracking customer vulnerabilities also helped Principal Insurance provide a supportive environment for customers and manage stress levels for agents navigating difficult situations,”
“With VoiceAnalytics, they achieved an impressive 90.89% global compliance score.”
Redefining Quality Assurance
Another key focus was deploying Xdroid’s Auto QA technology to accurately score over 31,000 calls – a scale impossible through manual processes alone. This objective assessment enabled comprehensive evaluations of agent performance.
Taylor explained,
“Agents working remotely could use the insights to self-coach and improve based on impartial feedback,”
“This drove a remarkable 14% improvement in overall QA scores in just eight months, culminating in an outstanding 92% performance rating.”
Avoira has been thrilled to play a pivotal role in this groundbreaking project through our partnership with Xdroid and Principal Insurance.
As Ian Taylor states:
“Being part of transforming customer service through innovative technology has been immensely rewarding.”
The CCW Global Top Ranking Performers Awards received over 2,000 entries from 80 nations this year, making this recognition particularly prestigious. We look forward to the finals and continuing our mission of improving businesses through advanced technology solutions.