India First Life Insurance Company - Automation of Ask-Apply-Get Process

The Problem: Traditionally, the task of selling insurance lies with the sales person. IndiaFirst wanted to attempt a different approach where it invited the customer to take a step forward and ask for the product, on the premise that, if the process of buying is made simpler and faster the pull for the product will definitely increase.

The Solution: The solution comprises of a web based system for data entry of new business application, issuance of policy, triggering SMS & emails to customer and field force. Besides, it uses Savvion Business Manager as a workflow system to automate data entry and policy issuance activities. It has a Contact Center solution to receive inbound calls from field force for data entry and make out-bound calls to customers. The solution also has features such as online and batch Integration.

The Result: The solution facilitates instant issuance of policy claimed to be within 3 minutes. 30% of total new business premium income of the company is through AAG process. The solution maintains quality at source as the company has eliminated the issue of receipt of incomplete applications and the need to have resources to manage the same.