AVO-Life

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

  • Users & Hierarchy Management

    Manage users of the application

  • Agent On-boarding

    Manage end-to-end agent empanelment process

  • Calendar Management

    Enable sales users to track and follow appointments

  • Product Configuration

    Setup policy parameters

  • Prospect Creation

    Provision for sales users to create prospects

  • Financial Need Analysis (FNA) & Benefit Illustration

    Uncover gaps/opportunities by analyzing customer financial profile

  • Quotation Management

    Calculate premiums and provide options to customers

  • Proposal Management

    Capture detailed information on customer profile

  • Workflow Management

    Configurable business process flows

  • Commission Management Module

    Effective remuneration transparency management

  • Insurance Agent Onboarding Solution

    Simplified process with end-to-end digitization

  • Payments

    Rating table based premium calculation or real time integration with core insurance system

  • Policy Issuance

    Real time issuance of policies with policy schedule

  • Endorsements

    Process financial and non-financial modifications to existing policies

  • Reports & Dashboard

    Transactional, Operational, Management reports

  • Payout Management

    Calculation of commissions, incentives

  • Content Management

    Support agents by distributing sales/marketing collaterals

  • Campaign Module

    Drive agent performance through targeted sales campaigns

  • Issue1 Real Time Quotes/Policies

    Instantly generate quotes and issue policies. Reduce load on your core insurance system

  • Provide Quick Turn Around Time (TAT)

    Delight your customers by providing quicker turnaround times for policy issuance, renewals, endorsements

  • 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

  • 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?

Request Demo

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