Insurance-Provider Adopts Mobile-First Approach to Drive Sales · 2019-12-03 · Title:...
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A decade-old Life Insurance player based out in India was looking for a solution that made their sales function smoother, primarily by enabling the agents to sell the insurance easily. The company was also looking to enhance the data collection process by making it faster, easier, and error-free. Fulcrum Digital proposed a mobile-first approach to address the requirements of this Insurance company. SUMMARY Insurance-Provider Adopts Mobile-First Approach to Drive Sales Read how this insurance company went the ‘mobile way’ to shorten the sales cycle FULCRUM DIGITAL BUSINESS OUTCOME 02 BUSINESS OUTCOME 03 BUSINESS OUTCOME 01 The agents can now process the documents digitally without having to collect hard copies for all the necessary documentation. Pen and paper being redundant now, digital process decreased the number of manual errors as compared to the earlier processes. With processes getting faster, agents are able to offer the policies sooner without any delays. This has improved customer satisfaction considerably Paperless Processing Error-free Process Enhanced Customer Service
Transcript of Insurance-Provider Adopts Mobile-First Approach to Drive Sales · 2019-12-03 · Title:...
A decade-old Life Insurance player based out in India was looking for a solution that made their salesfunction smoother, primarily by enabling the agents to sell the insurance easily.The company was also looking to enhance the data collection process by making it faster, easier, anderror-free. Fulcrum Digital proposed a mobile-first approach to address the requirements of this Insurancecompany.
SUMMARY
Insurance-Provider AdoptsMobile-First Approach to Drive Sales
Read how this insurance company went the ‘mobile way’ to shorten the sales cycle
FULCRUMDIGITAL
BUSINESSOUTCOME02 BUSINESS
OUTCOME03BUSINESSOUTCOME01
The agents can nowprocess the documentsdigitally without having tocollect hard copies for allthe necessarydocumentation.
Pen and paper beingredundant now, digitalprocess decreased thenumber of manual errorsas compared to the earlierprocesses.
With processes getting faster,agents are able to offer thepolicies sooner without anydelays. This has improvedcustomer satisfactionconsiderably
Paperless Processing Error-free ProcessEnhanced Customer Service
The company’s pre-existing application used by the team to sell products was web-based andoutdated. This insurance company needed a solution that empowered agents with vital information atfingertips on-the-go. The agents also required quick access to sales collaterals and documents on thefield.Fulcrum Digital built an Advisory Sales Kit (ASK) – which is a mobile application loaded with the requiredproduct information. The workflow was also automated and defined, which eventually shortened thesales cycle for the company. All these factors contributed to enhancing customer experience.
Bulk document upload capability with mobile applicationEmail and SMS-based communication featureFeature of buying insurance with mobile applicationReport-generation capabilityOnline payments using a payment gatewaySync servicesOffline application captureThe single codebase for web and mobileMaximum reuse of code for web and mobileLoosely coupled architectureOffline application performanceIntegration with following platforms: VYMO (a lead-management platform), Payments (Bill Desk),Aadhaar (biometrics and eKYC), CIBIL (PAN verification), Straight Through Process (PIVC),eSignature (Biometric verification)
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Following are the features that Fulcrum Digital developed for the insurance provider:
Here are some of the benefits that the insurance company availed by partnering with Fulcrum Digital:
The agents could use the mobile app in an offline mode too to generate BI (benefit illustration),fill the application form, offline payments, offline FNA, etc.
Integration with other platforms cut down the efforts drastically.
New products were easily configured on the app.
The scanning and uploading of documents became hassle-free with the app.
The payment integration with multiple options enhanced the customer experience.
Smart validations led to a huge fall in errors, which declined the rework – therefore, efforts saved.
Time saved since most of the fields were pre-filled after the verification.
The insurance company had better transparency and view of applications and statuses with real-time data and report-generating tools.
RESULT
You may have a great idea, waiting to be industrialized! You are sure your idea holds potential but are worried about howyou will take it to market, quickly and successfully. Fulcrum Digital’s Managed Innovation can help make that experiencesmooth and methodical with transparency on the entire process. To know how Fulcrum Digital Business can work for you,
please visitwww.fulcrumdigital.com or write in to [email protected]
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