Insurers need to ensure superior and differentiated customer service across all digital channels as next-gen customers rely increasingly on their smartphones and the Internet for insurance-related transactions. To harness the power of mobility and service customers faster, insurance brokers have to be enabled with state-of-the-art mobility solutions. A mobile app that provides real-time information for tracking claims, policy renewals and portfolio reviews could greatly increase the efficiency of the broker network and drive customer satisfaction.
WNS’ Broker Connect is a cutting-edge mobility solution for insurance brokers and financial advisors to leverage opportunities to build new business and also service existing customers on the go.
This solution addresses a range of business requirements of a broker across the insurance policy lifecycle - from issuance to payouts.
Offers visibility into the complete portfolio, including status snapshots
Provides virtual real-time notifications regarding policy administration actions on portfolios
Enables brokers to call the customer from the app itself
Higher conversion rate on account of reduced policy on-boarding cycle time
Enhanced speed of service for customers
Reduction of customer queries as a result of proactive portfolio status communication
Increased level of satisfaction for brokers
Enhanced broker productivity
Insurers to Significantly Expedite Issuance of New Policies with Broker Connect Mobile App
The Industry Challenge:
Insurers often lack real-time insights into their ‘new business on-boarding’ process, leading to delayed policy issuance and disbursal. Delays are usually caused by repeated iterations due to missing information.
How Broker Connect Helps:
WNS’ Broker Connect mobile App provides brokers easy access to real-time information and status updates across an insurer’s product portfolios. The App helps plug information gaps in policy documents to expedite policy application, thereby enhancing the ‘new business on-boarding’ process.
This mobile App builds greater synergy between the insurer and its intermediaries, and optimizes its broker network. The tangible benefits offered by the solution are:
Captures requirements for additional and missing information. Up to 90 percent applications are routed back to intermediaries; and the Broker Connect App leads to quick Turnaround Time (TAT) for the insurer
Reduces broker queries to the insurer. This mobile application can help cut broker queries for the insurer by up to 50 percent
Improves TAT for policy issuance
This is a Proof of Concept