Global Insurance Brand Reports Strong AI Business Outcomes with Verint Bots

Insurance Brand Increases NPS Score by 97 Percent and Reduces Operating Costs by $6 Million

Verint® (NASDAQ: VRNT), The CX Automation Company™, today announced that a global insurance company has reported strong AI business outcomes using multiple bots with the Verint Open Platform.

The global insurance company deployed the Verint Exact Transcription Bot, Verint Coaching Bot and Verint Quality Bot in its contact center operations and reported the following tangible AI business outcomes:

Verint Exact Transcription Bot achieved 95 percent call categorization accuracy rate which drove workflow improvements, reducing repeat calls and improving customer journey. As a result, the brand reported their customer NPS (Net Promoter Score) increased by 97 percent.
Verint Coaching Bot and Quality Bot reduced policy renewal call duration by over three minutes on average. Because of this, the brand increased agent capacity and saved approximately $6 million on an annual basis. The savings were achieved within the first three months of the Verint Bot deployment.

“Insurance companies are looking to drive up insurance policy renewal rates without increasing the size of their contact center workforce. This is a powerful example of how multiple Verint bots are helping a global insurance brand achieve their objectives,” says Verint’s Daniel Ziv, vice president, go-to-market strategy. “The Verint Open Platform has been deployed by many of the largest insurance companies in the world, delivering strong AI business outcomes for the industry.”

Visit Verint Open Platform to learn more.

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 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240624626780/en/

Media Relations Sue Huss sue.huss@verint.com

Investor Relations Matthew Frankel matthew.frankel@verint.com

Verint Systems (NASDAQ:VRNT)
Historical Stock Chart
From May 2024 to Jun 2024