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Redefine your Life Insurance Sales and Underwriting Lifecycle with Digital Capabilities
Empower your life insurance intermediaries to manage and digitize the Life Insurance Sales and Underwriting life cycle efficiently using AVO Life – A Virtual Office Platform
Digital Transformation of Life Insurance Sales and Underwriting
‘Digital Sales & Underwriting’ solution, for Life Insurance & Annuities segment, is powered by Agent Virtual Office (AVO) Life. It is a feature rich responsive web application, for life insurance intermediaries. It provides end-to-end sales digitization for all life insurance products including –
- Term Life
- Endowment
- Annuity
- Investment
- Retirement
Features – Agent Virtual Office for Life Insurance Intermediaries
Explore the distinctive features of AVO Life, that helps in delivering business value in terms of growth, operational agility, process digitization and enhancing intermediary engagement
API driven microservices based architecture
Guided sales process
Setup of underwriting and pricing rules
Tailored portals for stakeholders
Supports multiple payment modes
Core Building Blocks – A Modular Approach
AVO Life comprises of core functional blocks in a modular setup. Each of the functional blocks or a group of functional blocks, may be leveraged independently to fit into the existing IT ecosystem of the insurance company
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Users & Hierarchy Management
Manage users of the application
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Agent On-boarding
Manage end-to-end agent empanelment process
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Calendar Management
Enable sales users to track and follow appointments
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Product Configuration
Setup policy parameters
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Prospect Creation
Provision for sales users to create prospects
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Financial Need Analysis (FNA) & Benefit Illustration
Uncover gaps/opportunities by analyzing customer financial profile
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Quotation Management
Calculate premiums and provide options to customers
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Proposal Management
Capture detailed information on customer profile
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Workflow Management
Configurable business process flows
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Commission Management Module
Effective remuneration transparency management
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Insurance Agent Onboarding Solution
Simplified process with end-to-end digitization
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Payments
Rating table based premium calculation or real time integration with core insurance system
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Policy Issuance
Real time issuance of policies with policy schedule
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Endorsements
Process financial and non-financial modifications to existing policies
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Reports & Dashboard
Transactional, Operational, Management reports
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Payout Management
Calculation of commissions, incentives
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Content Management
Support agents by distributing sales/marketing collaterals
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Campaign Module
Drive agent performance through targeted sales campaigns
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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
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Interested to learn more about our solution for Life Insurance Sales and Underwriting?
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