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Customer service solution wins national award
Posted on Mar 08, 2024
We're really proud to announce that Principal Insurance has won a prestigious award for a highly innovative customer service solution.
Last night (Thursday 7 March), our Managing Director Dave Bowcock and Head of Distribution Matt Byrne accepted the Initiative of the Year trophy at the National Insurance Awards.
Hosted by comedian, actor and writer Hal Cruttenden at London's Marriott Hotel Grosvenor Square, the prestigious awards saw the great and the good of the insurance industry gather to celebrate its beacons of innovation and excellence.
Our award recognised the power of our groundbreaking customer experience and speech analytics solution in helping us to support vulnerable customers and further enhance the service we provide to both existing and potential policyholders.
Developed and implemented in partnership with technology solutions specialist, Avoira our bespoke Xdroid solution incorporates both a Vulnerable Customers Identification Tool (VCIT) and Customer Sentiment Tracker (CST).
Promoting best practice
Commenting on our award success, Dave (pictured left) said: "This award is testament to the hard work and expertise dedicated to the Xdroid project by our Management Team and partners at Avoira.
"But more than that it demonstrates how our unique application of a cutting-edge technology enables us to better serve people with a variety of vulnerabilities and identify and promote best practice in order to further enhance our customer service.
"We are very, very proud of this achievement which highlights just how pro-active we are in seeking to consistently deliver good outcomes for all out customers."
The VCIT embraces over 130 keywords across 14 categories of vulnerability. These include everything from a change of address through financial distress, domestic abuse, depression and suicidal tendencies. By helping us identify potentially vulnerable customers, we are better placed to actively support their needs.
We are very, very proud of this achievement which highlights just how pro-active we are in seeking to consistently deliver good outcomes for all out customers.
Similarly, the CST provides invaluable insights into customer satisfaction levels during and at the conclusion of any interaction, empowering us to identify touch points with which to inform future best practice through our continuous training programmes.
As well as helping enhance the performance of our sales and customer service staff, it also supports their wellbeing by flagging any concerning language or behaviours.
In addition, the bespoke Xdroid solution is complementing our pre-existing compliance protocols to further help ensure we satisfy and evidence fulfilment of our regulatory obligations, such as the Consumer Duty regime introduced last year by the Financial Conduct Authority.
Our success at the National Insurance Awards follows Avoira's triumph at the Comms National Awards at which the Bury-headquartered technology solutions specialist's work with Principal saw it take the Best SME Contact Centre Customer Solution trophy.
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