Empowering Insurance Agents with Insurtech in Southeast Asia

16 October 2023
3 min read
empowering insurance agents with insurtech in southeast asia

In Southeast Asia’s under-penetrated insurance markets, agents remain the dominant distribution channel. However, legacy sales processes have often been tedious for agents. Insurtech innovations (eg. Ignite by Igloo) are digitally empowering agents, making insurance sales faster, simpler and more effective.

Streamlining Multi-Step Sales into Seamless Digital Journeys

Traditional insurance sales involved extensive paperwork, illustrations, form-filling, and managing relationships with multiple insurers. Agents had to juggle various offline tasks to generate quotes, underwrite policies, collect payments, and issue policies.

Insurtechs are transforming this by integrating key steps into unified digital platforms and apps. Straight-through processing is being enabled by leveraging automation and APIs.

For instance, Ignite by Igloo equips agents with an all-in-one sales toolkit. Key capabilities include:

  • Intuitive user interface for easy navigation of products and plans
  • Real-time premium calculators to generate quotes in seconds
  • Integrated payment gateways for secure online client payments
  • Digital policy issuance for paperless fulfilment

Such consolidation of fragmented processes into omnichannel platforms reduces sales cycles from days to minutes. By streamlining form-filling, submissions, and payments, insurtechs like Ignite by Igloo help agents sell and service policies faster with our application – Ignite which facilitates thousands of agents across SEA for a faster & efficient insurance sales process.

Data-driven Insights to Enhance Customer Engagement

Leveraging data and analytics, insurtech platforms provide contextual customer insights to better guide agent interactions. Data-driven recommendations help agents have more meaningful conversations.

Customer data segmentation enables personalised product suggestions based on income levels, life stages, health profiles, etc. By capturing digital body language and interaction analytics, contextually relevant engagement is facilitated. Agents are empowered to have the right conversations and cross-sell apt products.

Omnichannel Access for 24×7 Policy Servicing

Insurtech platforms provide agents with omnichannel access via laptops, smartphones, and tablets. This allows real-time servicing of clients anywhere, anytime without dependency on offline processes.

Ignite by Igloo, for example, enables agents with on-the-go sales capabilities. Agents can access customer policies, make changes, and provide support instantly. Forward-thinking insurtech firms aim to make insurance sales effortless for agents. By unifying disconnected systems into omnichannel digital experiences powered by data-driven insights, digital platforms are enabling agents to sell faster, engage better, and service anywhere. Streamlined sales workflows, contextual recommendations and always-on tools are empowering agents to maximise productivity.

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