The life insurance market in India is serviced primarily by independent agents offering multiple lines, many of whom are under-trained and inexperienced.
Overwhelming paper processes and the complexities of life insurance meant that equipping these agents to sell a particular product is difficult.
A leading insurer wanted to improve sales performance of its products and partnered with Cognizant to equip agents with the best information and tools to get the right products in the hands of consumers in need.
We implemented our LifeEngage™ platform to help agents establish credibility with buyers during initial meetings. The solution provided comprehensive information on screen and helped agents build a rapport with the buyer by prompting discussion and collaboration.
We provided a rules-based tool to help agents assess buyers’ needs and risk tolerance to recommend the right products, and streamlined the paperwork process by digitally gathering and transmitting documents. Video and document management rounded out the agent-centric features.
Better equipping agents for success means providing them with the tools they need to not only be knowledgeable about a product, but also to simplify the steps they must take to make a sale. Through the use of LifeEngage, we helped this major insurer build its name with agents while helping them build relationships with buyers.
reduction in conversion ratio
reduction in turnaround time from purchase to issuance
agents onboarded through tablet and web applications