FICX offers advanced CX solutions for customer service organizations working to optimize support and sales interactions while reducing costs. The FICX platform simplifies and accelerates the development of digital customer experiences that deflect and shorten live agent interactions while increasing satisfaction. Globally, FICX solutions transform tens of millions of customer service and sales experiences each month.
What is the problem in the insurance sector that you are trying to solve?
Great customer service helps insurance companies stand out and create competitive advantage. When insurance companies do a great job serving customer needs, they acquire more customers, retain customers longer, capture a larger share of a customer’s total insurance needs, and benefit from customer evangelism.
But delivering outstanding customer service is constantly getting more difficult:
- Consumers’ customer service expectations are constantly rising and changing – often much faster than even the largest companies can cope with.
- Costs of operating contact centers, training, and retaining great customer support agents have climbed rapidly.
- While digital technologies provide the opportunity to meet customer needs more quickly and cost-effectively, development takes far too long.
Companies need a way to develop outstanding digital experiences that prevent or shorten live contact center agent interactions while enhancing customer satisfaction.
What is your business model?
FICX offers a solution to simplify and dramatically accelerate the development of digital experiences. Its platform and services make it easy to deploy digital IVR self-service experiences as well as agent collaboration apps that representatives can send to customers and screen share to meet needs faster.
FICX offers a SaaS platform and available program development services. Costs are based on actual customer usage of experiences developed through FICX.
What are the values for insurance companies/brokers?
With FICX, insurance companies can deploy powerful digital experiences faster than they can develop by themselves with traditional software development processes. These experiences can be delivered in any channel for self-service or agent co-completion. FICX can be integrated with a company’s existing cCaaS, ERP, support ticket management, CRM, CDP, and other tech platforms, streamlining deployment and aligning digital solutions to existing company processes.
Using FICX, companies can:
- Create new digital experiences and deploy them in days instead of the months it takes with traditional custom development
- Create easy-to-use digital workflows for payments, check balance, policy review, e-signature, first-notice-of-loss, address changes, beneficiary changes, and many more common customer requests
- Deflect 30% of contact center calls in year one
- Boost customer satisfaction ratings while trimming total customer service costs by 20% or more
All experiences offer the highest security standards and fully comply with HIPAA, GDPR, CCPA, PCA, and other international privacy regulations and guidelines.
How can you benefit with the insureds?
With FICX, insurance customers get the answers they want faster and easier, either through digital self-service experiences they complete independently or through co-completion in shared-screen mode with agents. Across all our customers, successful completion rates for these digital experiences are 92+%, saving tens of millions of calls and live agent support minutes every month.
What investments have been made in the company so far?
FICX completed its Series B investment round in 2021, raising USD 8M. Lead investors in the Series B funding round include NAventures, the corporate venture capital arm of the National Bank of Canada, and Prytek, a multinational technology group delivering enterprise technology and managed services in finance and insurance. Previous investor Liberty Global Ventures also participated in the round.
What deals have you signed so far?
FICX insurance clients include AFLAC, Phoenix, and Shekel Group. Other FICX clients include AT&T, DirecTV, Dish Network, Leumi, National Bank of Canada, Israel Ministry of Health, US Bank, and VISA.
Name the key figures in the company and what are their roles?
CEO: Dr. Ori Faran, Entrepreneur and a seasoned tech manager, Ori holds a Ph.D. (cum lude) in Business Administration, specializing in customer engagement. Ori is a pioneer in contact center innovation, led Visual IVR and Engagement Digitalization patents, and has vast experience optimizing customer journeys and process automation for leading global enterprises.
CTO: Doron Rotsztein. Doron is responsible for designing and developing FICX’s infrastructure and solutions. He brings over two decades of experience in software development, project leadership, and innovation. Before FICX, Doron helped build leading contact center solutions and consulted for leading global enterprises.
VP: Technical Operations: Roee Halfon. Roee serves as VP of Technical Operations, overseeing all FICX deployments & support. Roee brings decades of experience leading strategic CX initiatives that resulted in dozens of successful, mission-critical deployments. Roee held similar roles at VocalTec, Surf&Call, and CosmoCom Interactive.
VP: Marketing: Chris Filly. Chris has more than a decade of experience in brand development and enterprise technology marketing. Before joining FICX, Chris was a senior brand and marketing executive with Adobe, responsible for Adobe Experience Cloud. Chris has held similar roles at Oracle and Conversant.
VP: North America: Daniel Kaplan. Daniel has over 20 years of experience driving digital transformation at leading financial institutions. He joined FICX from Citibank, where he led big data and intelligence initiatives. Daniel has also held similar management positions at E-Toro, Barclays Capital, Lehman Brothers, and NASDAQ.