The client is a Life Insurance Company that was started in March 2010. It is one of the youngest life insurance in India with a rich legacy of over 360 years of combined service of its promoters. It brings together strong financial expertise from one of India’s leading business groups with interests in Banking, Financial Services, and Retail.
Client has decided to expand their customer Service activities by way of offering web application interface – (RAPID) solutions to their customers. The Web App (RAPID) acts as an interface to facilitate their customers to identify their needs and choosing the right solution provided. It helps the customer in understanding the process. This application is available 24×7 in online mode and the BDM’s can use the mobile app in both online and offline mode. It also reduces the amount of effort required in processing the service requests at the branch. This document covers the features of the Solutions (RAPID)
Client used to sell their products through agents using an android based application that was being used in online/offline mode. They wanted to build a solution that can be accessed over the web and can be used by customers, Bank employees, their own employees, agents and distributors. This would also help in converting bank customers into insurance product leads and customer.
This program was an integrated system covering Lead Management, online Sales on web and mobile, user management and system administration. It should enables agents / BDM to track and convert leads in to customers, service the customers. Agents and customer should able to get the detailed information about products, calculate premium, track application status save quotes and proposal forms filled and make payment for the purchase and sell as per customer need. It also should enables the internal users of client for generating MIS and tracking progress of the proposals. Call center team is assigned appropriate tasks basis the progress of any application.
The web-based customer portal for client uses the built-in features of Liferay to the maximum extent possible.
The building blocks (components) of the customer web portal are built up as a collection of independent Spring-based port-lets and services. This ensures that the business logic contained in these port-lets can also be exposed as remote services to any other client Life application that may require integration with it.
An Enterprise Service Bus (ESB) built with WebSphere Message Broker is used to wire up the Liferay-based web module with the backend applications. The eventual client’s system will consist of a number of discrete components that must all be able to work together.
Content management will be driven by Liferay’s native CMS. Internal bulk data processing that needs to be performed within the Liferay-based customer web module will be driven through Spring Batch jobs triggered by Quartz enterprise schedulers.
Following are the key functionality of India First Online Sales:
- Contact / Lead Management: User is able to create new leads or prospect to cater services or to sell policies. Lead management system enables user to create & track leads with task type & lead status.
- Product Details: Landing page to showcase all products coming from Liferay CMS.
- Need Analysis: The system takes the input from user & then recommends products as per customer need. The system suggests the product as per customer’s requirement.
- Benefit Illustration: Product details are keyed in by user, as per the input given the system calculates & illustrate the interim or maturity benefits of the product. Basis which customer either moves ahead with the product shown goes back to the product selection option…
- Premium calculation: Facilitates calculation of premium with external system integration to provide the quote for the selected product. The quote information helps in tracking individual application / proposal. The details of proposal form are keyed in as per user requirement.
- Application Form: Configurable Application form depending on the product selected is displayed to the user. This form can be changed at runtime with minimal code changes.
- Download / Upload Documents: This feature enables the user to either download or upload documents.
- EKYC-EKYC Option with Aadhar -OTP and Biometric Integration to avoid additional steps for form filling.
- Provide Option for Employee Attendance which integrates with HR Management system of IFLI
- Payments / Premium Collection: Provides facility to the users to pay the premium for online purchases, Users can make online payments online by simply clicking on the Pay Online link. The link will redirect the user to the payment gateways. User also has an option to schedule cheque pickup, here the user schedules the pickup and agent collects the cheque as per the customer’s schedule.
- Policy/Application Tracker: Provides user the ability to track their new application request and its status.
- Call Assist using tele-caller process: Live chat module to be available at each stage. The user can get an online assistance from the call or live chat.
- Personal Landing Page: User (Agent/Customer) is directed to the personal landing page basis the user id and then can click on the various modules available as per user role accessibility.
- Reusable Services: For all Business validations like Product Validation, Premium calculation, etc. Web Services needs to be built. This ensures the functionality is reusable across various applications.
- User Management: Allows the various user groups of the system to be given access to the system by the IT-Admin. User creation along with role definition enhances the working. Users can also register themselves and login using their social logins
- Payment Reconciliation: This option allows the Finance team to reconcile the failed payment attempts or attempts that are successful at the payment gateway but failed to update the system.
Below are the benefits of the solution provided by Fulcrum
- Provides platform to generate revenue by providing means to sell policies online, through agents using tabs
- Adds an additional channel apart from distributors, agency and branches.
- Integrates with core insurance product (Life Asia) using workflows to update the customer, application and payment details.
- Workflow system for tele-calling and follow ups to the customer till the application processes are done.
- Tracking and Transfer of leads helps the Sales team to service all captured leads, without losing any of them.
- Changes to application forms can be done with minimal coding.
- Role Profile Mapping provides ease of changing access rights for user groups and creation of new user groups