By Swatil Binte Mahmud, Blogger, Lava Protocols
Mammoth Insurance Company
One of Lava Protocols’ clients is a global leader in insurance and investments with more than 1,500,000 employees globally, serving 100 million customers across over 60 countries. This insurance company’s primary challenge was experienced by its insurance agents. The agents had to manually submit hard copies of thousands of insurance applications and documents. However, this traditional method of processing data proved to be insufficient. Mainly because the agents had to spend hundreds of hours consolidating and validating data from hand-written documents, and this led to data inaccuracies and loss of data. The second challenge was the traditional payment approach for their clients. This was not a viable approach as it became a hassle for customers, agents, and employees based in the HQ to be transacting in hard cash, especially in cases where the insurance premium is high.
In a world where everything was becoming digitalized, one of the biggest insurance providers in Malaysia was falling behind.
The Transition
As the company is an existing customer of Salesforce with custom applications and processes built into it, Lava Protocols used Salesforce Community Cloud to build a customized insurance application management portal exclusively for this company. Lava Protocols built an insurance application portal and integrated an online payment system with the insurance application portal. Instantly, agents said goodbye to the traditional manual data submission and embraced their new and distinct online system.
Lava Protocols’ business analysts held training sessions with the company’s representatives to facilitate a smooth transition from manual submissions to online submission. As a result of the transition, their agents and employees experience less administrative tasks, eliminate possibilities of data inaccuracy and data loss, and have a more efficient application approval and payment cycle.
Simplified Application Process
Lava Protocols used the Salesforce Community Cloud to build the perfect customized insurance application management portal for the insurance company. The portal also provides agents with a central repository to download Customer Fact Find Form (CFFF), Application Form, and other required document templates which were traditionally uploaded by our client’s employees in the headquarters.
Digitalized Payment Process
Lava Protocols integrated the insurance application portal with a trusted local payment gateway. The integration directs the users to the gateway when a payment is made. Because of this integration, the payment process became hassle-free, faster, and provided greater transaction transparency for the customers.
The Future is Self-Service Portals
The Digital approach for an insurance company took the company to the next level by transforming the way they engaged and brought value to their customers. It provided the company with speed and agility to scale and tap into new business opportunities and enabled their partners to deliver personalized and on-demand insurance products in a simplified way to their customers.
Technology is a great approach that allows companies to better engage with their customers and transform the way customers experience insurance. Through an online self-service portal, companies can support new business models that provide insurance on demand, revolutionize the way insurance is bought and sold, and invite allies to join in shaping the future of insurance.
Lava Protocols is an authorized Custella Partner in Malaysia, Indonesia, and the ASEAN region. Need a field service management software? Drop us an email to schedule your demo: hello@lavaprotocols.com.