Using Analytics to Improve FCR and Deliver a £500K Return on Investment

  • £500k benefit with improved FCR

  • 5% call volume reduction  

Our analyses showed the following key opportunities for the client that helped them to improve their FCR with a significant ROI – £500K benefit from this engagement.

Increasing FCR efficiency for a multinational insurance company 

Overview 

Davies was engaged to help the multinational insurance company and financial services provider to be more efficient and improve First Contact Resolution. The first step was building the language search packs in their speech analytics solution and then some detailed root cause analysis on the findings. 

Our Approach 

From the language search packs and root cause analysis we discovered that agent training was lacking consistency in the content and quality of information provided by agents leading to poor customer experience. 

Our research showed that the password reset process in the client’s online service drove large contact volumes. This did not help with self-service adoption and the understanding of the online services. We also found inconsistent and incorrect transfer behaviours, driving high volumes of repeat calls as well as opportunities for better systems configuration to help improve processes to improve FCR. 

Return on Investment 

Our analyses showed the following key opportunities for the client that helped them to improve their FCR with a significant ROI – £500K benefit from this engagement. After our assistance our client was able to Improve the customer experience by training the agents to better diagnose the customer issue to take the right action and reduce call volume by 5% by enabling customers to reset their own password on-line. 

We were also able to drive self-service adoption by using speech analytics to identify the promotion of online services and provide visibility to individual agents. We highlighted incorrect transfers through both behaviour and system issues by developing the right Management Information. Our team also used the speech analytics system to monitor the impact of effective coaching with agents.  

For more details of our analytics services or to discuss how we can help you generate richer insight from your customer interactions, contact: 

Lee Mostari 

Director of Insights & Analytics 

lee.mostari@davies-group.com 

Michael Anderson 

Vice President  

US/Canada 

michael.anderson@davies-group.com  

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