Fair Square Medicare Launches Vox: AI Platform Revolutionizing Medicare Enrollment | Martech Edge | Best News on Marketing and Technology
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Fair Square Medicare Launches Vox: AI Platform Revolutionizing Medicare Enrollment

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Fair Square Medicare Launches Vox: AI Platform Revolutionizing Medicare Enrollment

Fair Square Medicare Launches Vox: AI Platform Revolutionizing Medicare Enrollment

PR Newswire

Published on : Aug 15, 2024

Built on GPT-4, "Vox" by Fair Square Medicare includes the world's first AI voice agent that screens potential customers; a searchable, interactive call transcription and auditing system that provides any insight across all customer interactions; and a coaching program that automatically understands call issues and intuitively suggests education to human agents.

AI voice screening agent converts 4x sales for after-hours calls compared to typical process; matches performance of human teams during working hours.Fair Square Medicare, a leading technology company specializing in innovative software solutions for Medicare companies, has launched Vox, a revolutionary generative AI platform designed to enhance customer experience for Medicare carriers and brokerages. Powered by GPT-4, Vox sets a new benchmark for leveraging AI to interact with customers and continuously learn from each encounter. The platform is built on three core pillars: AI voice agents, generative AI-driven insights, and AI-powered coaching for human teams.

Key Features of Vox AI Platform
Vox is engineered to transform the way Medicare carriers and brokerages interact with customers, streamline operations, and provide actionable insights. The platform includes the following components:

  1. AI Voice Agents
    Fair Square Medicare is developing a suite of generative AI voice agents that can manage nearly every aspect of the Medicare plan enrollment process. The first agent, Sophia, is an AI-powered screening agent that qualifies potential customers before connecting them with a sales agent. Sophia ensures that every call is answered promptly, providing a superior experience while allowing sales agents to focus on qualified leads.

    • Sophia’s Performance: In testing, Sophia matched human sales conversion rates during working hours and delivered 4x conversions for after-hours calls, all at a fraction of the cost of traditional call center teams.

    • Future Developments: Additional AI agents are in the pipeline, including those for enrollment script reading, health risk assessments, and activating ancillary benefits like health club memberships.

  2. Generative AI-Driven Insights
    The Insight feature is a generative AI transcription and auditing application that tracks every customer interaction, whether handled by AI or humans. Using retrieval-augmented generation (RAG) and large language models (LLMs), Insight offers a searchable interface where business leaders can query data and gather intelligence on key topics such as customer frustrations, competitor-related inquiries, issue-resolution rates, and the benefits that drive the most sales.

  3. AI-Powered Coaching Support
    Coaching Support is an intuitive application that identifies issues in customer calls, whether related to agent behavior or broader customer experience challenges. By analyzing metrics like conversion and objection rates, the system provides real-time feedback to human teams, offering examples of successful outcomes and correcting inaccurate information provided to customers.

Addressing Key Challenges in Medicare Enrollment
Many seniors face challenges when navigating their Medicare coverage options, with nearly 70% of enrollees not reviewing or comparing their options annually due to overwhelming information. This issue is particularly acute for older beneficiaries and those in poor health. The traditional process often involves long wait times and multiple transfers, leading to suboptimal coverage choices.

Vox addresses these problems by providing software solutions that build customer loyalty, streamline operations, boost sales, and deliver critical insights to inform plan designs. This innovative approach ensures that seniors receive the best possible coverage with minimal frustration.

CEO Daniel Petkevich on Vox's Impact
"I saw firsthand how broken the entire enrollment experience is when my own parents approached Medicare eligibility. They deserve much better, and so do the millions of seniors today who are 65 and older," said Daniel Petkevich, co-founder and CEO of Fair Square Medicare. "We're building solutions that create an experience I'd want for my parents. Using AI, our Vox platform unlocks 10x outcomes for Medicare distributors and carriers and provides a superior experience for customers much more cost-effectively."

Founded five years ago as a tech-enabled Medicare brokerage focused on customer experience, Fair Square Medicare has grown into an advanced technology firm developing sophisticated AI-driven solutions. While the company currently focuses on Medicare entities, the Vox platform's core technology has the potential to transform customer experience across other industries reliant on call centers.