Neptune Flood customers self-serve day-to-day, including during natural disasters
Neptune Flood, the largest private flood insurance company in the United States, is an AI-driven company specializing in solutions for residential and commercial properties. By leveraging advanced technology, data analytics, and user-friendly online tools, Neptune Flood offers consumers and businesses a fast and efficient way to obtain flood insurance policies tailored to their needs.
The company aims to simplify the insurance-buying process while offering competitive rates and comprehensive coverage options. Neptune Flood is backed by top-rated insurance carriers, ensuring that their customers receive reliable financial protection in the event of a flood.
The preferred alternative
Neptune Flood is the preferred NFIP alternative flood insurance solution offering an entirely digital quote to bind process. Neptune offers residential, commercial, and RCBAP products in a 2-minute quote to bind process all while offering greater coverage limits and additional high-value optional coverages for complete protection.
To provide first-class service for its growing customer base and insurance agents, Neptune Flood built an internal Customer Success team who use Zendesk and Zoom, handling an average of 10k inbound emails and 12k inbound phone calls each month. Neptune Flood partnered with Ada to enable technology to solve for inquiries such as policy payments, policy endorsements, document requests, and FAQs, giving the Customer Success team to manage complex tasks and allowing the company to keep up with a growing customer base without rising costs.
With Ada empowering customers to self-serve around the clock, the customer success team has more time to manage more complex tasks. Neptune Flood was able to reduce the cost per ticket by 78%, a significant savings that will compound over time.
“Ada is the best AI chatbot offering for features and open API integration from a front and back end perspective. Simple UI, immense amount of features/capabilities, and low day-to-day management. When new features are released, we are able to self-serve through the platform to go live immediately.”
Automating resolutions for more complex inquiries
One of the reasons Neptune Flood chose Ada was that our open API connections allowed them to automate more resolutions from day one. By integrating the platform with other software in their tech stack, Neptune Flood is able to deliver a personalized customer experience and automate resolutions for more complex flows, including payments and making policy changes — which is a huge win for the company and a source of empowerment for customers.
Flood insurance cancelation is a complex task involving very specific stipulations around the reason for cancelation – it’s not simply a matter of saying, “Cancel my policy.” When human agents handle this type of request, there could be a bit of back and forth involved, either by phone or email. But with Ada, the bot collects all the necessary information in one conversation to complete the request or hand it off to the Neptune Flood team for review and verification. Not only does this save time and resources, reducing time per ticket by 92%, it also has increased customer satisfaction due to the faster time to resolution.
“Some requests require additional information that could cause customer confusion. With Ada’s “if, then” workflow logic we are able to efficiently collect all requirements upfront within seconds. That’s a huge benefit when it comes to resolution time.”
By integrating its homegrown APIs into Ada’s flows, Neptune Flood is able to provide unique experiences for insurance agents and policyholders. This is critical because the company presents different information to the two different audiences. They’re also able to differentiate experiences for authenticated users vs non-authenticated — the claims process, for example, is available to anyone on the main site, whereas policy changes can only be made by authenticated (i.e., logged in) users.
Even the inquiries that require a human touch are that much easier to solve now because Ada collects the relevant information up front; customer success agents are able to quickly review and solve the request.
“From a team perspective, Ada has allowed us to accelerate our goals and response time, start new projects, and reevaluate our current processes for further enhancement and efficiency to meet the evolving needs of our agents and customers."
Stress test: Providing comfort and context during Hurricane Ian
In September 2022, just four months after Neptune Flood launched Ada, Hurricane Ian, a category 4 hurricane, made landfall in southern Florida, causing widespread damage throughout the region as well as parts of Georgia and South Carolina. The catastrophic event put Neptune Flood’s Ada integration to an unprecedented stress test as Neptune had thousands of policyholders in the path of Hurricane Ian.
Customers were able to leverage Ada to submit their claim at a time that was most convenient to them, even in the middle of the night. The automated claim flow prompted customers to provide all the details that Neptune Flood needed within seconds, which then set in motion their road to recovery. Additionally, Neptune Flood set up Ada to provide customers information about next steps in the claims process and how to mitigate further loss if their property is safe to enter.
Neptune Flood itself is headquartered in St. Petersburg, Florida, and much of its workforce is located in Tampa Bay. The company paid for all of its employees to evacuate to safety prior to Hurricane Ian’s arrival. As an added benefit of Ada handling a large volume of inquiries, Neptune Flood was able to protect their own people while still providing support for their insurance agents and policyholders without interruption.
“Core to our ethos is continuous evolution of features and coverages for our agents and customers, including channels of communication. With Ada, 30-35% of our claims were submitted directly through the bot, at a time that was most convenient for them during this catastrophic event."
Looking ahead
Neptune Flood’s goal when they launched Ada was to achieve 30% containment within 90 days. Instead, they got there within 30 days. Now Neptune Flood is focused on larger containment goals given the initial results, and leaning in on the open API connections that help streamline interactions with technology.
As Neptune Flood continues to build new flows, including API endpoints, their containment rate has increased, which has led to immense value add for the business — all while not having a dedicated employee managing the bot full time.
“Ada is very light touch—we don’t have to manage it full time. As long as we keep an eye on it and continue to update it, the bot operates on its own, which has allowed us to focus on the big picture: rolling out new features, thinking about next steps, and building out new APIs to continue to serve our agents and policyholders with additive self-service solutions. We’ve seen a tremendous impact on our customer success team, as Ada allows us to focus on other initiatives.”
Building on the success of the initial implementation, they’ll soon add Ada to their parametric earthquake insurance product, Jumpstart. And they’re already engaged in deploying Ada Voice to automate customer conversations on the phone, containing basic inquiries and collecting details to hand off to the voice agent for faster resolution.
“We would absolutely recommend Ada to other organizations — especially those that are interested in having technology solve a wide array of customer interactions. The benefits are immense and immediate from reducing human interactions, cost savings, and slowing the need for hiring additional customer success representatives. To maximize your Ada integration our advice is to involve all stakeholders, identify problems Ada can solve, be mindful of the user experience/flow, set your containment targets, and optimize on a timeframe that makes sense for your organization."
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