LivePerson delivers measurable returns on AI investments to enterprises across the globe

Rhea-AI Summary

LivePerson (Nasdaq: LPSN) has demonstrated significant ROI from AI initiatives for major brands worldwide. The company's Conversational Cloud® platform and AI solutions have helped enterprises across various sectors achieve measurable results, contrary to the current AI disillusionment trend. Notable success stories include:

- Frost Bank: Achieved 91% CSAT with 24/7 support using AI-powered agent efficiency tools.
- Zurich UK: Reduced insurance claims agreement time to 13 minutes on WhatsApp.
- Open Universities Australia: Tripled lead qualification rates with generative AI agents.
- Mouser Electronics: Attained 92% customer satisfaction score using AI-powered routing in 13 languages.

Other successes include a leading US health insurer's 222% YoY digital growth, SportPesa's 58% AI chatbot containment rate, and Najm's 60% contact center savings. These achievements have earned LivePerson multiple industry recognitions.

Positive

• Frost Bank achieved 91% CSAT with LivePerson's AI-powered agent efficiency tools
• Zurich UK reduced insurance claims agreement time to 13 minutes on WhatsApp
• Open Universities Australia tripled lead qualification rates with generative AI agents
• Mouser Electronics attained 92% customer satisfaction score using AI-powered routing in 13 languages
• A leading US health insurer achieved 222% year-over-year growth in digital with 86% customer satisfaction rate
• SportPesa's AI chatbots successfully contain 58% of customer inquiries
• Najm achieved 60% contact center savings through AI and channel expansion
• LivePerson received multiple industry recognitions, including from Gartner and Forrester

Negative

• None.

Insights

Financial Analyst

LivePerson's success in delivering measurable AI ROI for major enterprises is a significant positive for the company. The case studies demonstrate strong customer satisfaction scores, improved operational efficiencies and cost savings across various industries. For example:

• Frost Bank achieved 91% CSAT with 24/7 support
• Zurich UK reduced insurance claims agreement time to just 13 minutes
• Open Universities Australia tripled lead qualification rates
• Mouser Electronics attained 92% customer satisfaction
• A leading US health insurer saw 222% YoY growth in digital sales
• Najm achieved 60% contact center savings

These results showcase LivePerson's ability to drive tangible business outcomes, which is important for customer retention and potential new client acquisition. The external validations from Gartner, Forrester and Fast Company further strengthen LivePerson's market position. However, investors should note that with a market cap of just $90.8 million, LPSN is a small-cap stock, which can be more volatile. The company's ability to consistently deliver results and expand its customer base will be key to future growth.

Tech Expert

LivePerson's Conversational Cloud platform demonstrates advanced AI capabilities that set it apart in the competitive landscape. Key technological advantages include:

• Generative AI-powered agent efficiency tools
• Voice to Messaging capabilities for omnichannel support
• AI Studio for customizing and testing AI agents
• AI-powered routing for efficient customer service
• Multilingual support (13 languages for Mouser Electronics)

The platform's ability to blend AI with human agents effectively is particularly noteworthy. This hybrid approach allows for automation of routine tasks while maintaining the human touch for complex issues. The success across diverse industries (banking, insurance, education, electronics) showcases the platform's versatility and scalability. LivePerson's focus on measurable outcomes and ROI aligns well with enterprise needs, especially as AI moves past the "peak of inflated expectations" in Gartner's hype cycle. The company's continued innovation and adaptability to emerging AI technologies will be important for maintaining its competitive edge in the rapidly evolving AI and customer experience market.

Brands across financial services, insurance, healthcare, retail, and more use LivePerson solutions to generate better business outcomes from AI

NEW YORK, Sept. 24, 2024 /PRNewswire/ -- LivePerson (Nasdaq: LPSN), the enterprise leader in digital-first customer conversations, has helped major brands worldwide achieve meaningful ROI from their AI initiatives. These real applications of AI and automation have accelerated contact center transformations, supercharged agent productivity, and delivered more personalized experiences for millions of customers.

According to Gartner, the hype around AI has passed the "peak of inflated expectations" and is now sliding down into the "trough of disillusionment." In contrast to vendors unable to produce measurable results, LivePerson's Conversational Cloud® platform and AI solutions have helped the world's best-loved brands attain real ROI. Over the course of 2024, customer case studies have highlighted the diversity of use cases and demonstrable business outcomes achieved in partnership with these brands, including:

Frost Bank: AI empowers live agents to deliver 91% CSAT with 24/7 support
The #1 bank for Retail Banking Customer Satisfaction in Texas (according to J.D. Power), works with LivePerson to empower its human agents to hold better, more effective customer conversations. Operating on the belief that customers should be able to speak directly to a real person no matter what channel they reach out on, the bank uses LivePerson solutions — including generative AI-powered agent efficiency tools — to respond in less than 60 seconds to hundreds of thousands of conversations annually.

"At Frost, we're passionate about using technology to strengthen human connection. That's why we're partnering with LivePerson to integrate AI that empowers our team to demonstrate our culture at scale. AI allows us to take our humans and turn them into super humans," said Laura Miller, EVP of Consumer Strategy and Digital at Frost Bank, in the June 2024 case study.

Zurich UK: AI improves insurance customer engagement
This leading insurance provider leverages LivePerson's platform and AI to provide support for customers within the messaging channels they know and trust. Zurich UK uses LivePerson's Voice to Messaging capabilities to shift customers into webchat, text messages, and WhatsApp conversations, then support them with a blend of AI and human agents. Results from a pilot include dramatically reducing insurance claims agreement time to just 13 minutes on WhatsApp.

"With this digital transformation, we're able to put the customer first and get them through that difficult time as quickly as possible," said Helen Rogers, Head of Claims Digital Experience at Zurich UK, in the June 2024 case study.

Open Universities Australia (OUA): tripling lead qualification with generative AI agents
The largest higher education marketplace in Australia uses LivePerson's generative AI agents to enhance their recruitment process. This collaboration has significantly improved lead qualification rates by 3x compared to self-searching and 2x compared to scripted chatbots. OUA used LivePerson's AI Studio, an advanced environment for customizing and testing AI agents, to build an LLM-powered generative AI agent capable of handling inquiries with ease and empathy.

"The prospective students that come to our website are in different consideration phases, so when they first decide to interact with OUA, there's a need for a conversational and personalized experience," said Rachit Monga, Head of Student Recruitment at Open Universities Australia in the September 2024 case study.

Mouser Electronics: blending the human touch with customer service AI
LivePerson AI supports 13 languages for this Texas-based, global distributor of semiconductors and electronic components. Hundreds of thousands of Mouser's customer conversations run through LivePerson's platform every year, with AI-powered routing helping customers get to the appropriate answers and agents. Mouser has achieved a customer satisfaction score of 92%.

"As a 'High Service Distributor,' it is critical that our customers receive the same high-quality interaction experience on our messaging platform as they would in any other customer interface. LivePerson's platform and their incredible support team have ensured that Mouser is able to exceed our customers' expectations," said Lori Hartman, SVP of Customer Experience, Mouser Electronics in the February 2024 case study.

Additional 2024 success stories highlighting LivePerson's ability to unlock the ROI of AI for its enterprise customers include:

• A leading US health insurer: AI streamlines the digital sales process 
  One of the largest health insurers in the United States is accelerating digital sales with LivePerson, including using AI for external customer-facing and internal agent-facing use cases. With a variety of bots and automations assisting consumers and agents at various stages of the customer lifecycle, LivePerson solutions have helped them achieve 222% year-over-year growth in digital with an 86% customer satisfaction rate.
• SportPesa: transforming to digital-first CX with around-the-clock AI support
  This leading sports entertainment company revolutionized the betting industry in Africa and expanded worldwide. AI chatbots successfully contain 58% of customer inquiries, with 70% of customer interactions in home base country Kenya becoming fully digital.
• Najm: achieving 60% contact center savings through AI and channel expansion
  After years of using voice as their only support channel, this Saudi Arabian motor vehicle insurer partnered with LivePerson and its local partner BAB to open a WhatsApp channel supported by AI agents, reducing response time from 3 hours to 15 minutes.

"Contrary to the many AI and automation use cases that fail to meet expectations, our technology offers measurable, sustainable value to our enterprise customers," said John Sabino, CEO of LivePerson. "On top of that, our customers are true partners; their success is our success. We're proud to co-innovate with them on their unique digital transformation journeys — and to have helped them achieve these outstanding results that have driven their business forward."

On top of these customer successes, LivePerson has garnered several external validations for its ability to generate better business outcomes for enterprises, including multiple recognitions from Gartner and Forrester, being named to the Applied AI list in Fast Company's 2024 Most Innovative Companies program, and best-in-class product honors from the leading awards programs for the tech and customer experience industries.

To learn more about improving revenue growth and reducing operating costs with AI and messaging, visit LivePerson's ROI Calculator.

About LivePerson
LivePerson (NASDAQ: LPSN) is the enterprise leader in digital-first customer conversations. The world's leading brands — including HSBC, Chipotle, and Virgin Media — use our award-winning Conversational Cloud platform to connect with millions of consumers. We power nearly a billion conversational interactions every month, providing a uniquely rich data set and AI-powered solutions to accelerate contact center transformation, supercharge agent productivity, and deliver more personalized customer experiences. Fast Company named us the #1 Most Innovative AI Company in the world. To talk with us or our AI, please visit liveperson.com.

Media Contact:
Mike Tague
mtague@liveperson.com

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SOURCE LivePerson

FAQ

What ROI has LivePerson (LPSN) delivered to enterprises with its AI solutions?

LivePerson has delivered significant ROI to enterprises across various sectors. Examples include Frost Bank achieving 91% CSAT, Zurich UK reducing claims agreement time to 13 minutes, Open Universities Australia tripling lead qualification rates, and Mouser Electronics attaining 92% customer satisfaction score.

How has LivePerson's (LPSN) AI improved customer service for Frost Bank?

LivePerson's AI-powered agent efficiency tools have helped Frost Bank respond to hundreds of thousands of conversations annually in less than 60 seconds, resulting in a 91% customer satisfaction score with 24/7 support.

What impact has LivePerson's (LPSN) AI had on Open Universities Australia's recruitment process?

LivePerson's generative AI agents have significantly improved Open Universities Australia's lead qualification rates, tripling them compared to self-searching and doubling them compared to scripted chatbots.

How has a US health insurer benefited from LivePerson's (LPSN) AI solutions?

A leading US health insurer using LivePerson's AI solutions for customer-facing and agent-facing use cases has achieved 222% year-over-year growth in digital interactions with an 86% customer satisfaction rate.