Leading Insurer Awards Verint $4.5 Million Contract to Deploy AI-Powered Bots
Verint (NASDAQ: VRNT) has secured a $4.5 million contract over three years with a leading insurance company. The insurer will deploy Verint's AI-powered bots to enhance CX automation across their 3,000-agent contact center. Initially, the bots will be implemented for 600 agents in one business unit, with plans to expand. The solution includes various bots such as Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot, and Data Insights Bot. The insurer anticipates the solution to pay for itself in under six months and expects to increase bot usage over time. This move aligns with the growing trend of AI reshaping the insurance industry and creating opportunities for increased CX automation.
Verint (NASDAQ: VRNT) ha ottenuto un contratto di 4,5 milioni di dollari della durata di tre anni con una compagnia assicurativa leader. L'assicuratore utilizzerà i bot alimentati da AI di Verint per migliorare l'automazione della CX nel loro contact center con 3.000 agenti. Inizialmente, i bot saranno implementati per 600 agenti in una business unit, con piani di espansione futuri. La soluzione comprende diversi bot, come Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot, e Data Insights Bot. L'assicuratore prevede che la soluzione si ripaghi in meno di sei mesi e si aspetta un aumento nell'uso dei bot nel tempo. Questo passo si allinea alla crescente tendenza dell'AI che sta trasformando l'industria assicurativa e creando opportunità per una maggiore automazione della CX.
Verint (NASDAQ: VRNT) ha conseguido un contrato de 4,5 millones de dólares durante tres años con una compañía de seguros líder. El asegurador implementará los bots impulsados por IA de Verint para mejorar la automatización de CX en su centro de contacto con 3,000 agentes. Inicialmente, los bots se implementarán para 600 agentes en una unidad de negocio, con planes de expansión. La solución incluye varios bots, como Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot, y Data Insights Bot. El asegurador anticipa que la solución se pagará sola en menos de seis meses y espera aumentar el uso de bots con el tiempo. Este movimiento se alinea con la creciente tendencia de la IA que está transformando la industria de los seguros y creando oportunidades para una mayor automatización de CX.
Verint (NASDAQ: VRNT)는 주요 보험 회사와 450만 달러 규모의 3년 계약을 체결했습니다. 보험사는 Verint의 AI 기반 봇을 배치하여 3,000명의 상담원이 있는 고객 센터에서 CX 자동화를 향상시킬 예정입니다. 초기에는 한 사업 부문에서 600명의 상담원을 위해 봇을 구현하고 있으며, 이후 확장을 계획하고 있습니다. 이 솔루션에는 Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot, Data Insights Bot와 같은 다양한 봇이 포함됩니다. 보험사는 이 솔루션이 6개월 이내에 본전이 나올 것으로 예상하며, 시간이 지남에 따라 봇 사용을 증가시킬 것으로 기대하고 있습니다. 이 조치는 AI가 보험 산업을 재편하고 CX 자동화의 기회를 증대시키는 감소하지 않는 추세와 일치합니다.
Verint (NASDAQ: VRNT) a sécurisé un contrat de 4,5 millions de dollars sur trois ans avec une compagnie d'assurance leader. L'assureur déploiera les bots alimentés par l'IA de Verint pour améliorer l'automatisation de la CX dans leur centre de contact de 3 000 agents. Dans un premier temps, les bots seront mis en œuvre pour 600 agents dans une unité commerciale, avec des plans d'expansion. La solution comprend divers bots tels que Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot et Data Insights Bot. L'assureur prévoit que la solution sera rentabilisée en moins de six mois et s'attend à une augmentation de l'utilisation des bots avec le temps. Ce mouvement s'aligne sur la tendance croissante de l'IA qui redéfinit l'industrie de l'assurance et crée des opportunités pour une plus grande automatisation de la CX.
Verint (NASDAQ: VRNT) hat einen 4,5-Millionen-Dollar-Vertrag über drei Jahre mit einem führenden Versicherungsgesellschaft abgeschlossen. Der Versicherer wird die KI-gesteuerten Bots von Verint einsetzen, um die CX-Automatisierung in seinem 3.000-Agenten-Contact-Center zu verbessern. Zunächst werden die Bots für 600 Agenten in einer Geschäftseinheit implementiert, mit der Absicht, später zu expandieren. Die Lösung umfasst verschiedene Bots wie Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot und Data Insights Bot. Der Versicherer erwartet, dass sich die Lösung in weniger als sechs Monaten amortisieren wird und rechnet damit, die Bot-Nutzung im Laufe der Zeit zu erhöhen. Dieser Schritt passt zur wachsenden Tendenz, dass KI die Versicherungsbranche umgestaltet und Chancen für eine erhöhte CX-Automatisierung schafft.
- Secured a $4.5 million contract over three years
- Deployment across a large 3,000-agent contact center
- Expected ROI in less than six months
- Potential for expanded implementation to other business units
- Aligns with industry trend of AI adoption in insurance
- None.
Insights
The $4.5 million contract awarded to Verint by a leading insurance company is a significant win for the CX automation firm. This deal, spanning three years, demonstrates the growing demand for AI-powered solutions in the insurance sector. The contract's value and duration suggest a substantial commitment from the insurer, indicating confidence in Verint's technology.
What's particularly noteworthy is the expected return on investment (ROI). The insurer anticipates the solution will pay for itself in under six months, which is an remarkably short payback period. This rapid ROI could be a strong selling point for Verint in future deals, potentially accelerating sales cycles and boosting investor confidence.
The planned deployment across 600 agents initially, with intentions to expand to 3,000 agents across three business units, indicates a phased approach. This strategy allows for testing and optimization before full-scale implementation, potentially reducing risks associated with large-scale technology adoptions.
From an investor's perspective, this contract is positive for Verint. It not only provides a steady revenue stream but also offers potential for upselling and expansion within the client's organization. If Verint can replicate this success with other insurance companies, it could lead to significant growth in this vertical.
Verint's AI-powered bot suite represents a comprehensive approach to CX automation in the insurance sector. The deployment of multiple specialized bots - including Exact Transcription, Knowledge Automation, Coaching, Interaction Wrap Up and Data Insights - indicates a holistic strategy to enhance various aspects of customer interaction and agent performance.
The Exact Transcription Bot likely improves the accuracy of call transcriptions, which is important for compliance and quality assurance in the insurance industry. The Knowledge Automation Bot can potentially reduce response times by providing agents with quick access to relevant information. The Coaching Bot suggests a focus on continuous improvement of agent skills, while the Interaction Wrap Up Bot could streamline post-call processes, increasing efficiency.
Perhaps most intriguing is the Data Insights Bot, which could provide valuable analytics to drive strategic decisions. This comprehensive suite of AI tools has the potential to significantly enhance operational efficiency and customer experience in the insurance contact center environment.
The scalability of this solution, as evidenced by the planned expansion from 600 to 3,000 agents, demonstrates the flexibility of Verint's technology. This scalability could be a key selling point for other large enterprises considering similar implementations.
This contract win for Verint is indicative of broader trends in the insurance industry and the customer experience (CX) technology market. The insurance sector, traditionally conservative in technology adoption, is increasingly embracing AI and automation to enhance customer service and operational efficiency.
The expected rapid ROI - under six months - aligns with the industry's focus on cost optimization and efficiency gains. This quick payback period could serve as a compelling case study for other insurers considering similar investments, potentially accelerating market adoption of AI-powered CX solutions.
Verint's multi-bot approach addresses various pain points in insurance contact centers, from transcription accuracy to agent coaching and data insights. This comprehensive solution could give Verint a competitive edge in the CX automation market, especially within the insurance vertical.
The phased implementation approach, starting with 600 agents and planning to expand to 3,000, reflects a cautious but committed strategy often seen in large-scale technology adoptions in the insurance sector. If successful, this could become a blueprint for other insurers, potentially leading to a surge in demand for similar solutions.
For investors, this deal suggests Verint is well-positioned to capitalize on the growing trend of AI adoption in customer service within the insurance industry. The company's ability to secure a multi-year contract with a leading insurer could enhance its credibility and potentially lead to more deals in this sector.
The insurer is looking to increase agent capacity and elevate CX across three business units. They will deploy multiple AI-powered Verint bots including the Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot and Data Insights Bot. These bots will initially be deployed across 600 agents in one business unit with plans to extend to the other business units and remaining agents in the near future. The insurer expects Verint’s solution to pay for itself in under six months and increase the usage volume of the AI-powered bots over time.
“AI is reshaping the insurance landscape and creating new opportunities to increase CX automation now,” says Verint’s Jaime Meritt, chief product officer. “Around the world, insurance brands are leveraging Verint’s AI-powered bots and reporting strong AI business outcomes, creating more capacity in the contact center and elevating the customer experience.”
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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.
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Media Relations
Sue Huss
sue.huss@verint.com
Investor Relations
Matthew Frankel
matthew.frankel@verint.com
Source: Verint
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