The recent times have witnessed several changes in the insurance industry with leading insurers moving towards digitization across the value chain. Despite the emergence of distribution channels, insurance producers still occupy the center stage when it comes to big ticket sales. Producers, be it exclusive or independent agents, brokers or financial advisors, are indispensable for business acquisition and maintaining customer connects. Personalized service is the crux of the game and this is where producer sales enablement solutions become so important as they empower the agency force to bring in new business, provide assurance for customer retention and loyalty, revenue growth, and increased social collaboration.
The Producer Sales Enablement offering from Infosys is designed to empower producer acquired business through highly personalized interactions with customers. More specifically, our solutions help generate accurate and consistent customer information and messaging, leverage social, mobile, and analytical capabilities of the solution platforms, and manage stakeholder relationships in an integrated manner, ensuring transparency and operational ease.
We help clients assess their current producer enablement platforms, tools, technologies, and systems, identify future goals, and lay down architectural roadmaps to achieve them. We take a comprehensive approach to implement solutions that address specific requirement areas related to agency, spanning training and recruitment, management and reporting, sales and business acquisition and customer management, and more.
The time for bringing in changes for producer and agency focused platforms in insurance has never been better. As markets continue to change, businesses evolve, new products get introduced, new regulations come into play, changes across all touchpoints in the insurance value chain is inevitable. The producers occupy an important piece in this value chain, and we are increasingly seeing new solutions being launched in the market that address specific needs in this area. We have helped many insurers scale up capabilities and offer services for producer enablement for streamlined operations, reporting, and increased customer satisfaction.
InsureAssist is our tablet-based tool designed for insurance sales force (planners, sales agents, brokers) to assist prospective customers in selecting the right insurance policy by helping them in determining their insurance needs, recommending products, displaying illustrations, obtaining quotes, and binding policies. Targeted campaign is aimed at discovering the relationship between life events and consumer needs for pinpointing marketing windows and approaches. Patterns arising out of life events may be used to rethink customer/prospect segments and personalize products.
Our transformational projects in the area of providing cross-selling and up-selling opportunities enable enhancing the producer systems and tools with the help of cutting-edge technologies. Producers are viewed as trusted partners in the insurance value chain rather than a transactional partner to insurance sales. This makes it easier for producers to be a part of the strategic vision of insurers and serve their goals of keeping constant revenue inflows as well as maintain customer loyalty.
Infosys’ expertise in quick system upgrades to abide by the ever evolving State and Federal regulations when any such regulatory challenges pop up. Changes in processes to accommodate new rules and regulations have been complemented with the system changes, thereby providing a seamless transition to the new phase of the regulations. Infosys’ proprietary next-gen AI platform Nia and its robotic process automation (RPA) solution AssistEdge can be utilized to bring operational efficiencies towards compliance in the producer sales and customer data handling processes.
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