SymbioSys Sales Tool
Multiple interactions with customers leading to long time for sales closure
Inconsistent sales process leading to high manual work
Higher time and cost for agent learning
High application NIGO rate
Inability to meet evolving business and distribution demands
High turnaround time for policy issuance due to fragmented sales process
20-50% Improvement in Sales Conversions
80-90% Elimination in Mis-selling can be achieved
30-60% Saving in time to market for launching new products
50-70% Straight Through Processing (STP) can be achieved
50-70% Successful future proofing on transformation initiatives
Increased face time with customer
Quick Sales closure with proper controls
Improved distributor productivity
Consultative selling to improve customer experience
Availability across platforms to promote BYOD concept
Reduced time to launch new products
Quick adaptation to evolving business needs
Higher configurability, for faster time to market
Unified solution for diverse OS, single code for iOS, Android, Windows
Maximum offline capability, unique rule capability that works even in offline
Field underwriting in offline mode with ability to generate counter offer, for quick sales closure
Configurable Reflexive questionnaire for capture of context sensitive data
Business users can configure products, underwriting rules etc. which aids in reducing dependence on IT and vendor
OTHER PRODUCTS
OTHER SOLUTIONS
Case Study - 1
INTRODUCTION
A leading European Insurer in Indonesia decided to adopt the SymbioSys Sales Tool to spearhead its’ Digital journey. As part of its’ Digital strategy the insurer looked at not only leveraging technology but also introduced innovation in processes to maximize the adoption of our technological solutions.
CHALLENGES
- Laptop based illustration and paper based submission sent to scanning centers
- Long New business turnaround time from submission until Policy printing
- Manual New Business on boarding process
- Manual Leads management system
BUSINESS NEEDS
- Instant Sales activity tracking and leads management
- Tablet quotation, online and offline
- Tablet financial needs analysis
- Instant submission and premium payment capture via payment gateway
- Digital sales aids / product brochures
C2L BIZ SOLUTION
- SymbioSys Sales Tool with Leads, Digital Collateral, e-FNA, flexible offline quotation generation
- Powerful Product Configurator for launching products in market quickly
- Easy configurability of Risk Profiling Questionnaires assisting in Jet UW
- Easy Integration with Core PAS enabling instant e-submission by agents
REDUCTIONS
- New business Unit cost reduction by 60%
- Reduction inTAT for NB from Proposal to policy printing by 55%
- Reduction in Product development costs& time to launch new products by more than 50%
IMPROVEMENTS
- 78% adoption for all distribution channels within 5 months after implementation
- 40% of the policies submitted via SymbioSys Sales Tool issued in the same day
SERVICES DELIVERED
Reduction in NB unit cost
Adoption within 5 months
Policies issued on same day
Reduction in NB TAT
Case Study - 2
INTRODUCTION
A fast-growing local Indonesian Insurer with over 12,500 agents and more than 100 sales offices spread widely throughout Indonesia chose C2L BIZ for streamlining its’ New Business process. After implementing C2L BIZ solution, the insurer’s growth has recently positioned it into Indonesia’s Top 10 insurers. In fact, this insurer is known as the second-largest life insurance company in terms of producing agents who meet the standards of the Million Dollar Round Table (an international organization representing the best individuals in the financial services industry, especially in life insurance).
CHALLENGES
- Manual and long e-App processing (hardcopies of Quotation, Supporting documents and e-App)
- Manual underwriting process
- Short production period due to the long operational TAT
BUSINESS NEEDS
- Automate and streamline under-writing processing
- Faster time to launch new products
- Integrated sales process for agents – for demonstrating illustrations, finalize quote and e-submission, etc.
C2L BIZ SOLUTION
- Multiplatform (Android, iOS, Windows) SymbioSys sales tool with offline capability enabling agents to prepare quotation, capture data & RPQ at Point of Sale and submit electronically
- Expert Underwriting engine to automate UW process. Clean case can be approved instantly
- Paperless solution: e-signature, document capture by camera
REDUCTIONS
- Operational TAT (NB & UW)
- Printing costs
- Time to Launch new products
- Data Errors
IMPROVEMENTS
- Faster operational TAT in processing
- Longer closing period in each month-more policies being processed in a month
- STP Rate