Some projects: (2) – use new technology to help insurance sales
Several nominations for the inaugural Asia Insurance Technology Awards are about the usage of new technology to help sales. Insurance companies provide the sales force with handheld devices equipped with camera, internet and navigational tools to enable sales force to close the sales call right in the first interaction with the customer. Some popular functions are lead management, benefit illustration, product audio video presentation, application form filling, online payment, scan document, take photograph, upload data, allows sales to convey underwriting result to the customer immediately and provide application number of the policy, issuance and printing policy, enable sales to track policy issuance status, additional requirements triggered, etc. We also see vendors develop process driven sales and compliance tool that helps financial and insurance institutions to speed up sales closure and drive new product launches. The tool is designed around touch technology enabling an immersive selling process that is fully integrated with back end systems and also fully documented via audio visual recording. Every pen movement is captured and available for review. Both screen and voice can be recorded and indexed. In this way every element of the sale is measured and managed. The tool also can be configured to draw on information from core system to provide customer with persuasive information, to help customers identify the right product. Products are presented through a variety of interactive multimedia mediums such as animated graphics, digital brochures and videos. This could increase cross sell, as well as to ensure that customers have been offered supportive products to minimise risk.