Insureon Sees a Major Sales Boost After Building an Integrated Communications Solution with the RingCentral Open API Platform

Company profile
Company profile:
Insureon is an online insurance platform designed to help startups and small companies gain access to insurance products and rates previously available only to larger corporations in just a handful of industries. Today, thanks in large part to Insureon, entrepreneurs and small firms across more than 750 industries can gain quick, easy access to affordable business insurance.
Year founded:
200 employees
Chicago, IL

Insurance providers don’t often make the list of the world’s most innovative companies, but that hasn’t stopped Insureon, which helps small companies obtain business insurance, from carving a niche with its innovative use of technology. The company, founded in 2011, leverages its online platform to provide insurance for entrepreneurs and small firms previously ignored by the big carriers.

With a growing telesales operation and reps with varying levels of experience, Insureon wanted to leverage its best practices and expertise to create a consistent sales approach across its entire staff. The company researched artificial-intelligence solutions but couldn’t find a way to pull all of the information together and make it easily available to its entire sales team. Then they discovered the open API platform from RingCentral.

Challenge: connect multiple solutions to create amachine-learning engine that can improve sales

“Our CEO had an idea to build a machine-learning system that would help our sales agents—in real-time, while they were on sales calls—leverage all of our company’s collective knowledge in a given selling situation,” says Doug Altschul, Insureon’s Vice President of Customer Experience.

Altschul continues, “The goal was to record agents while they were on the call using real-time transcription, then feed that into an AI solution to analyze and learn from each call and provide those learnings to our agents in real time while talking to a customer or prospect.”

Insureon’s plan required three technology solutions: real-time transcription, a machine-learning system to analyze data, and a phone system to work seamlessly with both solutions. “We chose RingCentral Office and Voice API as the business communications solution for several reasons,” says Altschul.

Solution: thumbs up from trusted partners makes RingCentral’s API the clear choice

“Insureon was already using RingCentral Office for one of our call centers,” recalls Altschul, “and it had already proven itself as a great business phone system because it was so reliable, easy to manage, and easy to expand when we needed more capacity.”

“We realized we could use RingCentral’s API platform to connect the solutions we were putting together for our sales-intelligence solution. 

We selected XSELL’s HiPer for our artificial-intelligence solution and Velvetech for transcription. Both companies spoke highly about RingCentral and were confident that they could integrate their systems easily using the RingCentral API. That was further confirmation we had found the right phone system.”

Results: machine-learning solution built using RingCentral’s APIs yields big benefits

As Altschul explains, building this machine-learning solution on RingCentral’s open API platform is giving Insureon a significant competitive advantage.

“To our knowledge, no other company has the capability to monitor and record their calls in real time, do an automatic analysis of those calls, and use that knowledge to continually improve their practices company-wide,” he says. “Because of the solution we’ve built around RingCentral Office and the Voice API, we’re learning things that are unique in our industry. And those insights are benefiting Insureon significantly.”

“Since we deployed this solution, we’ve seen average call-handle times for our agents drop by as much as 45%, because the artificial-intelligence solution helps guide them much faster to the optimal path in the conversation that will lead to a conversion,” says Altschul.

“Another benefit of integrating this machine-learning solution using the RingCentral API: we’ve experienced a 52% lift in customer conversion rates. And in addition to helping Insureon’s bottom line, these increased conversion rates also mean our customers are benefiting because our reps are learning how to identify the right solution for each customer.”

“We could not have architected this solution without RingCentral Office and it’s open platform, which is giving us a huge competitive advantage and helping us grow our business successfully.”


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