Digitalizing the insurance experience of the distribution ecosystem for the partners of a leading composite insurer.
We empower insurance partners across onboarding, learning, sales & service functions by delivering a digitally differentiated experience from the competitors. The platform helped improve the conversion ratio by 25% in the first year and improved the sales focus of partners by 50%.
Digital transformation is disrupting the distribution landscape, which is dominated by the agents and brokers in P&C as well as the L&A industry.
Reports suggest that insurers are innovating and redefining themselves to help their agents and brokers. Insurers are achieving this by empowering them with insurance sales process transformation and service experience, imparting product knowledge, and assisting them in daily activities to deliver differentiated experiences.
Insurance companies can accelerate transformation initiatives for their intermediaries with our offering:
Transforming agent and broker experience
Our design-thinking approach led to reimagining intermediaries functionalities covering the entire spectrum of business processes right from quote thru claim enabled with intelligent document processing and API enablement.
We enhance user experience for agents and brokers with context intelligence for information access, gamification for motivation, and a dashboard to track performance.
Other fundamental tenets of the solution are humanized engagement from BOTs, product video tutorials, insights on learning, etc.,
Mindtree engages with clients and provides services starting from Consulting exercises to defining a digital strategy and implementation for transforming the agents' and brokers' experiences.
Our enablers include:
- Digital pumpkin – Mindtree's s innovation lab to drive ideation and rapid prototyping
- Immersive Aurora - Mindtree's innovation lab with augmented, virtual, and mixed reality for reshaping experiences across agency interactions
- Visual solution prototype to drive ideation around target state journeys
- API catalog for transactions and interactions with other systems
- Repository of agent and broker portal functional features
- Conversational solutions for sales and service
In a nutshell, Mindtree's holistic and consultative approach helps transform the agent and broker experience across P&C as well as L&A lines of business.
| Delivering enhanced Agent experience | Insurance broker experience transformation | Driving agents' digital adoption through experience transformation | Insurance sales process transformation for insurance wholesalers | Digitization of the new business submission process |
| Empowering agents and partners with ease of selling & servicing through digital portals leading to improved sales focus by 50% and conversion ratio by 25%. | Empowering brokers to leverage digital technologies via a broker portal leads to an increase in broker productivity by 25%. | Digital transformation journey across business operations leading to improved adoption of self-service options by 50%. | Leveraged design thinking principles for Salesforce implementation, leading to an improved win rate and 40% increase in effective sales meetings. | Digitized new business forms leading to a reduction in overall submission time from 3-4 days to 1-2 days. |