November 9, 2017

New York Life Agents Are More Effective Using Gryphon

Like in many sales offices, at New York Life Insurance’s South Florida Office the phone is the greatest driver of revenue. However, for the largest mutual life insurance company in the U.S., disruption, and change in customer expectations left a need for improved phone communication and rep effectiveness.

New York Life’s leaders understood that to navigate and succeed in this new norm, their agents had to master the art of communicating over the phone. This is where Gryphon stepped in and helped their team measure activity, develop a process, and most importantly, drive results.

Visibility. Accountability.

Before working with Gryphon, agents in the South Florida Office kept manual records of their daily calls, and managers created spreadsheets with the data. The problem? Management was not able to tell for sure how many dials their agents were actually making. “We were hoping they were giv­ing us a good guestimate,” said Senior Develop­ment Manager Dan Pico. “It was just terrible.” Furthermore, the South Florida Office had no way of knowing which agent’s behaviors were predictive of success and which behaviors were not.

In the life insurance industry—an industry with an 85% turnover rate—accurate visibility into the phone-based activity of agents is vital to successfully managing a sales team, retaining the right talent, and reducing training and onboarding time.

Gryphon’s Approach

Gryphon’s dashboard allows for greater visibility into the activity of agents and allows managers to better monitor their rep’s calling data. Managers no longer need to manually enter data from agents—call data is automatically captured in real-time, from any device and any call dialed through Gryphon’s system. With Gryphon, data is guaranteed to be 100% accurate.

Success with New York Life

Gryphon implemented real-time goal tracking, agent accountability, and automated call logging for the South Florida Office, which was particularly effective for their call-a-thons—huge revenue-generating opportunities in which the company holds four times a year.

Gryphon’s dashboard lets managers monitor agents’ performance in the call-a-thons and ensure that their target number of phone calls is being reached. Agents can also check their own progress to keep up with their goals.

Before implementing Gryphon Sales Performance, reps were making 2,000 calls on average. However, they recently set a record of 11,500 calls during a call-a-thon.

“We are not even looking at dials anymore. We are focusing on appointments,” said Pico.

Gryphon’s Solution

Gryphon’s life insurance clients have experienced, on average, a 20% increase in agent effectiveness through the implementation of our phone-based performance management DNC and TCPA compliance.

To learn how Gryphon can help your reps improve their call effectiveness, click here!

If you would like to download and read the entire New York Life Case Study to learn more, click here!