Self Service for Insurance Agents and Customers

70% of the life insurance policies are sold through agents/advisers. Bank assurance, the other channel through which policies are sold is still in a nascent stage in India. Life insurance companies have a large agent base that is mobile in nature and works for commissions. These agents frequently get in touch with insurance companies to know about

  • Their customers’ policy details
  • Premium calculations/riders/additional benefits
  • Status of new policy-accepted, rejected, incomplete documents/information, policy document dispatched, etc.
  • Their commission structures and payment status
  • Promotional programs related queries
Even though some insurance companies have set up web based systems, only 5% of the agents use Internet based solutions. A voice based self service can really help the insurance companies automate a lot of the above queries from the agents. Insurance companies can also make self service available for customers to know about their
  • Policy information
  • Premium dues
  • Change profile
  • Renewal payments, etc.

Learnings prove that approximately 60% of the calls to an insurance company's contact center (CC) are from the agents and the rest from customers. Some of the information keeps getting updated; this includes some riders such as premium waiver benefit (PWB) which are available on some policies for a limited duration and are then withdrawn. In absence of an automated and real-time system there is a possibility of wrong information being shared with the customer.

Seventy percent of the life insurance policies are sold through agents/advisers. Bank assurance, the other channel through which policies are sold is still in a nascent stage in India. Life insurance companies have a large agent base that is mobile in nature and works

Solution

Avaya's self service solution with computer-telephony integration (CTI) can help life insurance companies do the following:

  • Automate queries from the agents regarding their customer's policy status, payment status, promotional offers, their commission structures etc. Insurance Agents can be identified by using the agent code and T-pin.
  • It can help new customers to get product information, register a request for interest in the offers by punching in their contact number. Existing customers can log in by providing their policy number and date of birth (DOB) to know the due dates, change profile, make a renewal payment, etc.

The customer's business applications can also be integrated with Field Force Automation systems which can SMS the leads to the selected agents in an encrypted format.

The lead will only open on the client applications installed on the agent's mobile. Agents can also update the centralized business application on the status of the lead after their visit.