Authenticx offers valuable support during the open enrollment period (AEP), which is set to commence in October. With the help of Authenticx technology, health insurance organizations can effectively identify the factors that contribute to negative member perceptions regarding their Medicare Advantage (MA) plans.
"A smooth customer experience is paramount, especially during AEP. Insurance company call centers field a higher influx of calls at this time because many members struggle to understand the nuances of Medicare plans or have questions about the annual notice of changes (ANOC). When they receive the ANOC, many customers feel frustrated with communication or isolated in navigating their benefits and may consider disenrolling from their existing plan if they can't get help," said Amy Brown, founder and CEO of Authenticx.
The Medicare Advantage (MA) program enables individual members to have control over their plan selections by providing an annual open enrollment period. This approach carries high risks and high rewards for insurance organizations. If well-prepared, they have a substantial opportunity to significantly increase their membership base.
By employing AI to analyze recorded conversations with Member Services, the Authenticx technology can detect indicators of attrition. Moreover, the platform has the capability to generate and analyze call montages using targeted keywords, enabling the identification and resolution of pain points. This process not only helps reduce membership churn but also reveals opportunities for enhancing agent performance.
The Eddy Effect
Authenticx's unique machine learning model, called Eddy Effect, aims to identify instances where customers face repeated obstacles that disrupt their desired experience, leading to frustration. This metric serves as a key customer experience (CX) indicator and helps identify areas of customer friction.
Health insurance companies can leverage Authenticx's Eddy Effect metric and user-friendly dashboard to precisely identify these disruptions. By monitoring essential metrics such as call duration, repeat callers, agent performance, estimated wasted spending on avoidable calls, and customer sentiment, companies can gain valuable insights. The platform's dashboard generates comprehensive and actionable reports from a unified set of insights, enabling effective decision-making and improvement strategies.
Authenticx provides specialized solutions designed to address the specific needs of the enrollment period in the health insurance industry. These solutions empower companies to go beyond identifying negative feedback and brand detractors by actively listening for brand values that can be incorporated into their marketing messaging. By leveraging this capability, health insurance companies can ensure they are delivering what is necessary to secure customer retention.