Vlocity Digital Insurance Platform Implementation : Khushali Jain
by: Khushali Jain
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Vlocity Digital Insurance
Platform Implementation
Introduction
Industry
Insurance
Products
Vlocity Digital Insurance
Capabilities
Build and Implement
They are one of the UK’s leading life insurance companies, offering a range of individual and group insurance solutions that meet customers’ various life stage needs. The products include Protection, Pension, Savings & Investments, Health, etc. They continue to benefit from their increased presence across the region, having a wide reach with 420 branches and additional distribution touch-points through several new tie-ups and partnerships. Their partnerships are more than 300, comprising traditional partners such as NBFCs, MFIs, and SFBs, and include more than 50 new-ecosystem partners.
Project Challenges
Project Challenges
Following are the challenges which they were facing:
- Lack of modern digital processing: Their customers and brokers could not do the business online or on their own because the carrier lacked digital interfaces and straight-through processing.
- Complexities in performing policy management tasks: Brokers, underwriters, and service representatives were forced to navigate a complex network of antiquated applications to complete a task – requiring months to learn and forming a barrier to growth.
- Complexities in the delivery channels and back-end system: Custom delivery channels and hard-coded back-end systems obstructed product innovation, requiring months or years and millions in cost to introduce new products.
- Legacy Application Constraints: Product rules were often hard-coded, requiring the business to cede IT control for even basic changes. Rules written decades before were no longer to be comprehended by the company. Also, the lack of modern APIs forced carriers to process -often with delays manually. In many cases, these barriers had kept the business operating on spreadsheets and email rather than embracing the latest web and mobile experiences.
Project Solutions
Project Solutions
We implemented the following solution to overcome the above challenges for our client.
- Implemented Vlocity Digital Platform: We implemented Vlocity to deliver digital experiences focused on the end-user. As it is built 100% on Salesforce, with full access to the power of market-leading CRM capabilities, it offered the client the ability to craft comprehensive customer journeys – from Marketing through Service.
Project Results
Product innovation increased by
Agents productivity increased by
Business Sales increased by
Customer satisfaction increased by
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April 01, 2021 at 05:54PM
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