How Staysure uses the power of AI to build customer trust
'Worth doing right'. This is the ethos that has driven a travel insurance company, Staysure.co.uk, to establish long-lasting relationships with its 3 million policyholders in the last 10 years. The trust they have established with their customers is reflected with over 30,000 five-star reviews from Trustpilot, more than any other travel insurance provider.
With thousands of new reviews each month, the award-winning company - which specialises in insuring travelers over the age of 50 - is now exploring innovative ways to analyse reviews and understand customer needs. That involves working with an AI.
Stars Only Tell You One Part of the Story
To better understand what thousands of customers are thinking and saying, the Northampton-based company recently took an innovative approach in solving their customers' problems. They combined internal innovation workshops with data taken from Trustpilot's new AI tool, 'Review Insights', that identifies topics and customer sentiment in each review.
Although a fairly new approach, Staysure's innovation workshops are delivering positive results by involving different teams and generating a plethora of ideas for solving business problems. The team is pulling data-driven reports from Trustpilot's new tool to identify the most common customer complaints, and then prioritise new solutions.
Trust as a Foundation of a Long-lasting Relationship with Customers
Trust is a key factor for Staysure’s business. The company specialises in tailored insurance for travelers over 50, who often have unique medical challenges or pre-existing conditions that can limit their travel experiences.
For this group of travelers, it is very important to feel confident and safe when they travel. An illness or injury may be a common thing, and treatment can be excessively expensive in a foreign country. Having trust in your insurance provider, and believing that you are in safe hands, is crucial. It is a delicate balance built on trust and good service.
To earn that trust, Staysure’s approach is to provide tailored insurance, and to stay connected with their customers. But with over 3 million policyholders and a whopping 50,000 reviews, it can be challenging to understand each customer’s satisfaction or to manage each customer’s expectations.
The company is receiving over a thousand of reviews each month, and like every other business that has faced an increasing number of customers, they slowly started recognising trends happening at scale. It takes time and effort to identify actionable insights from those trends, unless you have access to an AI tool that can recognise them almost instantly.
As part of the Customer Experience Team at Staysure, Ellie has used Trustpilot’s new Review Insights to identify relevant topics based on customer sentiment, and to prioritise customer complaints that need immediate attention. This approach helps them identify “discount” as a relevant topic they needed to assess.
What an AI can Tell You about Customers’ Expectations?
Review Insights introduces sentiment analysis on a large scale, enabling businesses to learn from their customers and discover trends over time in customer satisfaction, which ultimately leads to improving their service.
The sentiment analysis of thousands of reviews is done by an AI, a machine learning proprietary algorithm that has currently analysed over 31 million reviews on Trustpilot, and discovered 45 million topics and sentiments within them.
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