Calm Response in a Crisis - Covid - Keeping Operations Afloat

Interesting times- Daily government announcements having a direct impact on us all, for some an increased demand on their expertise, for others closing down incomes but for us all uncertainty of what infection will bring. The human reaction is understandably mixed with increased stress, anxiety and worries across all demographics and positive community responses to find a way through it and support each other, especially those at risk.

In financial services this has evolved as each announcement has been made and customers recognise the impact to them:

• Concern if their policies provided cover if they were ill or died from Coronavirus

• Was their income protected if their business was closed down or they had to isolate

• Could they take out new policies to protect against infection

• When was the impact on market volatility going to end

• The best time to take out a new ISA, could they delay tax efficient investment

• The value of my pension has fallen how do I change my retirement date

Service businesses have taken drastic steps closing contact centres, moving key staff locations, now with many working from home. The camaraderie of these environments has been lost, the support of peers and floor walkers is no longer possible when you are alone on the kitchen table and looking to provide the best information to a customer who may be stressed or anxious. Businesses that have invested in AI and collaboration tools supporting their agents are now realising the significant benefits of a single source of the truth available from a web based solution. Tools that are accessible from anywhere are proving their worth and with intuitive interfaces that can guide and inform through conversational journeys.

As contact centres close or offer a reduced service, with long wait times, customers and intermediaries are being forced to self service online to answer the most common questions and complete simple transactions. Where Chatbots and Virtual Assistants are available their use has doubled in recent days and in some cases reported to have increased 5 fold. The insight they are providing on customer needs has been invaluable and allowed a speedy turn around to create new responses and develop new self service capabilities. Businesses are recognising the need to react in fast changing times and how getting content to customers to test and learn is better than long approval loops.

Customers who have previously wanted the reassurance of agent contact are exploring and finding new ways of doing things online and might not go back to the phone, email and post. Digital personal contact is available through chat and social media and may fill a need, it will be interesting to see the shift in this direction. A new challenge is how to encourage and enhance experience, content and design on new channels whilst supporting and prioritising the vulnerable, anxious and during these times key workers?

AI Implementations and the Digital Community have huge opportunities:

• To make the best information available to remote workers who are supporting customers

• Identify and prioritise those most in need and accelerate their access to help

• Explore emerging use cases and apply AI solutions that streamline customer engagement whilst dovetailing with operational processes.

• Respond as customer insight emerges based on changed circumstances, prepare to change information and processes quickly to support the need.