In keeping with the current global COVID19 crisis and the subsequent announcement of social distancing by the government that called for a quick action on digital adoption, Future Generali India Life Insurance Company Ltd was swift to respond to the call. They developed a 360-degree digital delivery platform helping their agents all over India to carry out everyday business activities, without having to move out of their current locations. The digital solution integrates all existing digital platforms used by agents at one place. Hence it simplifies the whole process making it smarter to work with.
Commenting on the introduction of the platform,Mr. Subhasish Acharya, Executive Vice President & Head – Proprietary Channels, Future Generali India Life Insurance Company,said, “The unprecedented global COVID 19 crisis caught businesses off guard and disrupted our routine. The new normal calls for businesses to adapt and adopt digital solutions at a faster pace. FGILI is one of the few insurance players who worked on a solution using agile methodology and was quick to go to the market. With our integrated online platform for distributors, we are better off now to adapt to the new normal.”
What are the digital tools made available to agents on the integrated platform?
In the life insurance industry, bringing in new policy holders is either a physical process or a mix of physical and digital process. The COVID19 disruption entirely disabled the physical process. FGILI’s integrated digital platform takes the entire process online. From recruiting agents to identifying leads, to generating interest, to calling clients, to having online conference or video chats with customers, to finally issuing a policy document – all these activities can be done online at one place.
- Connected Agent: One of the unique things FGILI did was to bring all their distributors and agents online by giving them ‘Connected Agent’, a personalized URL in the FGILI domain. This platform enables them to connect with their customers and have a digital footprint. It empowers them with several tools to conduct everyday business with customers. Distributors can manage email & SMS marketing initiatives, sync mobile phone contacts, and use them for marketing as well as track and analyse traffic on their personalised website. The platform can be synced to latest devices while also having wearable compatibility.
- Online Recruitment Tool (ORT): ORT is a real time state of the art digital tool that can recruit agents and distributers online. This tool undertakes various functions like receiving initial interest from the prospect while giving them detailed information about FGILI as required to know. Some of the core features offered on this tool are
- Income calculator for Distributors
- Dashboard for recruiters and their supervisors / mangers
- Quick, easy, and mobile compatible journey for applicants
- Workflow approach to track each application
- Approval prompts for each level of hierarchical approvals
- Simplified online processes for exam and training
- An online content library
- On the fly code creation and disbursement of the Offer / Appointment Letter
91.27% Front line Sales teams have adopted it this tool in the company while 77% of them have successfully hired distributors through this tool in the month of April 2020.
- FG Infinity: This platform is a 360-degree sales management tool that gives flexibility to an agent to log-in a new business from anywhere and at any time. This solution is device agnostic. The Agency channel and the Direct channel teams have logged in 87% and 83% policies through this platform respectively.
- FG One: This is a web-based dashboard that gives real time and all necessary business-related MIS on the go. Within a month of launch, FGILI had 398 Distributors who engaged with the FG One platform and continue to do so regularly.
- FG PLVC: Pre-Login Verification code is an app that verifies a new customer at the time of registration of a new policy. The agent can virtually assist the customer to complete verification process. Apart from elimination of fraudulent proposals, it also helps in making the customer aware about the policy and its terms and conditions. FGILI’s Agency channel team has demonstrated a seamless adoption of approximately 51%, while for the Direct channel team it is approximately at 57%.
- FG Smart Academy: is an Online Training Platform developed to train the sales force on a plethora of topics ranging from products, processes, digital tools, and current affairs. This platform has succeeded in raising the Front Line Sales team engagement by 97%, post the launch in April. The company has succeeded in completing almost 60000 man hours of online training from March 24, 2020 to April 24, 2020, covering 14,000 distributors and 1,600 salespeople. In addition to ‘FG Smart Academy’, the company also conducts online interactive sessions on ‘MS Teams’ which influences the sales journey in the new Digital era.
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