Explore ways to build a better customer experience with conversational AI
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Credit card issuance
The competition for credit card customers is intense and issuers are investing more than ever to acquire customers. This year, the largest issuers anticipate increasing their marketing spend close to 35% as they seek to attract new customers.¹ With an average cost of around $200 to acquire a credit card consumer, and many more times… Read More
Credit card fraud happens… don’t let it result in unhappy – or lost – customers
It’s a consumer’s worst nightmare—credit card fraud. And as cashless transactions become more common and e-commerce sales grow, it’s more prevalent than ever. In fact, 2020 saw a 44% rise in credit card fraud over the previous year, according to the Federal Trade Commission. Due in part to the global pandemic, as well as changing… Read more
KYC/AML checks
Know your customer (KYC) and anti-money laundering (AML) processes are designed to ensure that customers are who they say they are and prevent criminals from depositing or transferring funds that result from illicit activity. This critical function helps banks evaluate customer risk and avoid compliance mistakes. Failure to comply with AML regulations can have significant… Read more
P&C policy changes
Recent research from EY shows that consumers’ insurance priorities have evolved during the COVID-19 pandemic.¹ Consumers have grown increasingly concerned about their financial security and less accepting of one-size-fits-all insurance packages. Even as consumers’ needs change and they embrace a digital customer experience, speaking with a human agent on the phone remains the preferred method… Read More
Initiating fraud holds
From 2019–2020, there were nearly 400,000 reports of credit card fraud, according to the Federal Trade Commission—a 44% growth over the previous year. This multibillion dollar crime continues to grow as consumers flock to online shopping channels, a trend that was exacerbated by the recent global pandemic. Credit card fraud attempts increased 35% in 2020… Read more
The secret’s out: Gridspace gains “gold standard” security certification
Protecting client information is of the utmost importance to the Gridspace team. We take privacy and security seriously and respect the data that’s kept with us. And we can now announce that this commitment to attaining the highest standards has been officially recognized, with Gridspace receiving Certified Status for information security and compliance from the… Read more
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CASE STUDY
Grace Brings Standardization and Cost Savings to Medicare Startup
The Medicare Club is a healthcare startup that helps seniors enroll in Medicare and automate insurance management. Grace streamlined the acquisition process while maintaining customer satisfaction – with 78% of answered calls being handled in under 2 minutes. Read more
CASE STUDY
Grace Lowers Cost of Lead Qualification and Increases Sales for Life Insurance Brokerage
Diabetic Insurance Solutions is a life insurance brokerage specializing in assisting individuals with diabetes and other preexisting health conditions to obtain affordable life insurance. Grace helped deliver a 60% increase in lead connections. Read more
CASE STUDY
Improving Patient Outcomes With AI: How a National Healthcare Provider Leverages Grace for Health Line Follow-Ups
Gridspace AI phone agent Grace helped a national healthcare provider improve patient outcomes and reduce strain on internal resources by automating the majority of their follow-up phone communications. She’s now handling over 200,000 calls per month. Read more
BLOG
Does money talk? Large language models require more than just money
What does it take to train a large language model? This month, The Information reported that OpenAI spent over $120MM in two years on cloud computing, primarily training large language models. This is a staggering outlay for a company that was, at the time, still in closed beta. For comparison, Lyft and Slack each committed… Read more
CASE STUDY
Gridspace Improves Over-The-Phone Customer Service for a Leading Health Insurance Provider
One of the nation’s leading health insurance providers wanted to explore if they could leverage Gridspace’s AI contact center agent, Grace, to handle high call volume without sacrificing customer satisfaction. Grace came out on top as the preferred choice when compared with other voice assistants. Read more
What HCOs need to know to navigate the future of healthcare
Healthcare is changing like never before. And we don’t need to look far to see why. Problems caused or exacerbated by the pandemic, most notably staffing shortages, have combined with an aging population and high levels of chronic disease—and the associated rising costs—to produce a perfect storm for healthcare organizations. When we dig into the… Read more
Close clinical trial DEI gaps and improve patient engagement via virtual agents
Stakeholders across the clinical trial ecosystem have committed to addressing healthcare disparities and working together to increase diversity, equity and inclusion (DEI) efforts for clinical trials. In 2020, the US Food and Drug Administration (FDA) issued finalized guidance to enhance the diversity of clinical trial populations. Other industry organizations are also putting forth programs and… Read More
Proactively engage patients with automation that improves the clinical trial experience
Patient recruitment is both critical to ensure qualified enrollment in clinical trials and a huge investment for companies. Fully one-quarter of the cost of a clinical trial is assigned to patient recruitment. With so much invested in recruitment, patient retention is critical to managing costs and obtaining the data needed for regulatory submission. The failure… Read More
DEI in clinical trials
Health equity demands that clinical trial participants include a wide range of patients from diverse communities. This not only helps to reduce biases, it also contributes to more innovative science. Because people often experience disease differently, clinical trial enrollment needs to reflect diversity in race, ethnicity, sex and, often, age, in order to ensure that… Read More
Clinical trial patient retention
While patient recruitment receives a lot of attention due to the significant investment required to ensure enrollment, patient retention in clinical trials is essential for both economic and scientific reasons. With patient recruitment accounting for nearly 25% of overall trial costs, retention becomes critical to managing costs and obtaining the data needed for regulatory submission…. Read More
Enrolling clinical trial patients
Clinical trials are vital to supporting the development pipeline for drugs, biologics and medical devices. They also make up a significant portion of research and development costs—in the US alone, clinical trials account for nearly 40% of pharmaceutical research budgets. Patient recruitment accounts for nearly 25% of overall trial costs. Engaging patients throughout the enrollment… Read More
Screening clinical trial patients for eligibility
While individual clinical research trials are unique in pursuit of better ways to treat, diagnose, prevent or screen for disease, they all share a common challenge—pre-screening and screening potential trial participants for enrollment. Most often a manual process, screening participants for eligibility in a trial has typically included answering a set of questions via a… Read More