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Drive Remarkable Sales Growth with an Exclusive Portal for Bancassurance
AVO Banca, is a fully featured and responsive digital sales and distribution solution that provides end-to-end support for bancassurance.
It empowers banks to integrate with multiple insurance companies, from different lines of businesses (P&C, Life and Health), and compare and sell their insurance products, thus providing a wide product range for their end-customers.
Overview
Bancassurance is one of the most popular distribution channels for insurance companies. Banks help insurance companies in extending the reach of insurance products to their existing customer base as well as potential ones.
AVO Banca, a bancassurance portal, is exclusively designed to enhance operational transparency between insurance companies and banks and helps tap this opportunity with digitized processes.
AVO Banca also facilitates online purchase of policies and servicing of the policies bought with real time interactions between banks and insurance companies.
Features
Explore the distinctive features of AVO Banca, that provides insurance companies and banks with an easy and convenient way to achieve business objectives
Integration with Multiple Insurance Companies
Enable comparison of quotes, saving and retrieval quotes. Multiple quotes can be generated from different insurance companies.
Multiple Product Comparisons
Intelligent comparison of multiple products from different insurance companies. Deliver the best quotes and issue suitable policies
Multiple Payment Modes
Enablement of payment via payment gateway of the selected insurance company. Convenient bank specific payment methods such as direct debit from customer’s account.
Core Building Blocks – A Modular Approach
Learn more about AVO Banca’s core functional blocks in a modular setup
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User & Hierarchy Management
Manage users of the application with hierarchy mapping
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Customer Profile Management
Capture customer details and map issued quotes
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Master Data Management
Map Master data to Insurance Companies Masters
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Quote Management & Comparison
Generate multiple quotes from insurance companies and provide comparison options to customer
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Policy Issuance
Real time issuance of policies with policy schedule
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Notifications
Initiate email/SMS notifications
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External System Integration
Payment gateways, email/SMS gateway, Insurance companies
Value Proposition
AVO Banca comes with a host of benefits, designed to meet your business objectives
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Facilitate Up-Sell and Cross-Sell
Tap potential opportunities that fits customer requirements with historical data of customer preferences
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Drive Revenues
Enhanced operational efficiency across the bancassurance lifecycle helps in increased sales growth
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Issue Policies in Real Time
Instant communication between banks and insurance companies leads to straight through processing and reduced turnaround times
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Rapid Go-to-Market
Introduce and offer new products with ease, expand your customer base and create new markets
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Issue1 Real Time Quotes/Policies
Instantly generate quotes and issue policies. Reduce load on your core insurance system
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Provide Quick Turn Around Time (TAT)
Delight your customers by providing quicker turnaround times for policy issuance, renewals, endorsements
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Ensure Greater Flexibility
Allows insurance companies to configure different privileges for pricing, underwriting and operations to
different intermediaries -
Gain Better Oversight
Take complete control over your distribution network with configurable levels of pricing and underwriting
privileges -
Increase Transparency
Manage complex commission structures and make payments online
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Be Eco-friendly
Help the environment by enabling end-to-end paperless process for policy issuance
Related Solutions
Portal for Insurance Brokers/Aggregators
Compare quotes from different insurance companies and seamlessly manage end-to-end interactions. Know More
Digital Sales & Underwriting for P&C Intermediaries
Enable P&C insurance intermediaries to manage and digitize the sales and underwriting lifecycle efficiently. Know More
Interested to learn more about our Portal for Banks and Insurance Companies?
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