Empowering borrowers to self-serve
Headquartered in San Antonio, Texas, SWBC is a diversified financial services company providing a wide range of insurance, mortgage and investment services to financial institutions, businesses and individuals.
As one of its many services to lenders, SWBC ensures that auto and mortgage loans are properly insured. If a lack of coverage is detected, SWBC contacts the borrower in a lender-branded letter, presenting options for addressing the issue.
To submit their proof of insurance or get answers to their insurance-related questions, borrowers were instructed to place a call to a live representative – but outside of the call center’s hours, they were referred to a FAQ website and told to call back during open hours.
It was clear to SWBC that they needed a 24/7 solution that would allow them to receive submissions and provide personalized answers to insurance-related questions at any time. Ideally, the solution would also deflect calls during the call center’s open hours. As an added value to the lenders they serve, SWBC wanted to go one step further and allow them to offer self-service tool that would set them apart from the competition.
- Emily serves over 20,000 borrowers per month
- Only 4% of borrowers require live help
- Questions are answered with 95% accuracy
- The number of imcovered.com website visits more than doubled
- Borrowers who submitted their insurance with Emily had over a 90% submission success rate
The Alme platform solution
Launched in October 2012, Ask Emily allows SWBC to offer lenders a competitive advantage by enabling borrowers to resolve their loan-insurance issues on their own time, 24/7, via an advanced natural-language enabled self-service channel.
Ask Emily simplifies an otherwise complex process by looking-up the loan account and determining the necessary solution. Emily then guides the borrower through the process of resolving their issue, answering any questions along the way and even assisting with the purchase of necessary insurance to keep the loan to good standing.