A large international insurance firm had been conducting a customer feedback survey for years. But because the survey had been designed to elicit responses as unstructured data, the insurer had no simple way to analyse it, apart from manually reviewing a sample of comments. In short, the survey was of almost no business value.
That changed when we introduced text analytics to the business. We created a system that classifies the responses into more than 80 categories. The system then generates a range of reports, giving the insurer a rich understanding of what drives customer sentiment – as well as product or service–specific insights.
With 100% of customer feedback now analysed, the insurer is able to use the data in a range of ways. Marketing and product teams can understand which aspects of their products have the greatest impact on customer sentiment and prioritise improvements. Training can be focused to address emerging issues; we worked alongside the client’s training team to implement a structured coaching programme. Together, these actions have resulted in a 10-point improvement in Net Promoter Score for the business.