Summary

The client is a locally incorporated life insurance company in Bahrain. Their primary objective was to digitalize the overall manual process of customer onboarding, revamp their existing corporate website and develop a web portal to provide a seamless customer experience. They needed a comprehensive long-term solution targeting the multi-distribution channel for both the online and offline sales process across the Gulf Cooperation Council (GCC) countries. Fulcrum Digital provided FulcrumOne platform and industry-specific components to accelerate the overall go-to-market timeline and reduce costs.

Saved costs by 20%

Reduced turnaround time to 30 minutes

Business Challenge

The client was facing challenges in digitalizing the customer onboarding experience as well as enabling IT documentation and processes. They manually maintained data records, including extensive calculations and policy premium calculations, in an excel sheet. The client was struggling to enhance the digital journey of customers without concrete peripheral systems. They decided to change the approach and divert attention to digitalization.

Solution

  • Fulcrum used their FulcrumOne platform and industry-specific components to accelerate the overall go-to-market timeline and reduce costs
  • Converted Physical to Digital (Phygital) – manual process into a system-driven process.
  • Applied payment collection at the initial stage after benefit illustration
  • Oriented direct debit and financial planning process and notifications
  • Integrated ‘E-Know Your Customer (E-KYC)’ by face recognition for customer ID verification
  • Introduced modern technology to provide temporary issuance certificate to customers on completion of their proposal
  • Improved the overall process of scheduling medical appointments with medical tests, preferred appointment dates, and hospital selections
  • Provided industry-specific MIS dashboards and reports for making an informed decision

Benefits

  • Moved 85% of manual tests to automation execution in QA environments
  • 2x improved customer satisfaction with enhanced user experience for website and buying journey
  • Streamlined the overall steps in the buying process from 20-25 to 7-8 with 25-30 minutes
  • Reduced costs by 20% with FulcrumOne platform and industry-specific business components
  • Consolidated need analysis questions from 55 to 7
  • Reduction in turnaround time for proposal issuance from 3 days to 30 minutes

To help your organization build faster, compliant, and customer-centric applications that increase user experience and adoption, drop your details below and we will get back to you ASAP.

For more information or any questions, write to us at

marketing@fulcrumdigital.com

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