PrecentiaCMS is a full-blown front-end system that addresses the success key factors of sales management in the insurance business. The success criteria lay in providing the platform for all channels while providing e-servicing online instantaneously. One of its uniqueness is that PrecentiaCMS is able to plug into all sales channels to market the products, be it through agency, bancassurance, brokers, financial planners and direct mailing. PrecentiaCMS is a complete suite of front-end channel support systems that comprises of
PrecentiaAgent – Mobile Application Sales Kits
PrecentiaAct – Manpower, Activity, Persistency and Average case size (MAPA) Analytics
PrecentiaAgent is developed using modern Flutter framework, an open source mobile UI framework created by Google. It’s high performance single codebase technology that allows the apps to run in both iOS and Android operating systems.
PrecentiaAgent provides the facilities to allow insurance sales processes based on creating sustainable long-term relationship with clients. An important feature of the solution underpinning such process is the acquisition and analysis of sufficient client data on which to base appropriate recommendations. The more a knowing its client the better the understanding of their needs. This starts the process of selling the needs and then recommending appropriate investment and/or protection solutions. It is designed to be client-focused to allow sales agents to build a long-term relationship by conducting regular reviews, presenting an opportunity to update client information and to meet changing needs. By focusing on gaining better understanding of client’s need, the sales agent listens to and then analyses what the client requires. It enables the sales agent to identify the needs and present the affordable solutions.
In summary, PrecentiaAgent is designed to secure business prospects, drives sales transacting, perform business negotiations to ending business conclusion. With the PrecentiaAgent’s mobility at hand, it concludes the sales transactions effectively and efficiently anywhere and anytime. The concept automates the full sales cycle that includes e-signature, e-payment and e-application acceptance. The capacity to conclude sales on the spot basically ensures that agents stay focused on sales.
The benefits of PrecentiaAgent can be summarized with the followings.
1. Effective and efficient sales process
PrecentiaAgent provides the facilities to allow sales processes based on creating sustainable long-term relationship with insurance clients. It provides services and products to help them to achieve their financial goals. An important feature of the solution underpinning such process is the acquisition and analysis of sufficient client data on which to base appropriate recommendations. The more a knowing its clients the better the understanding of their needs. This starts the process of selling the needs and then recommending appropriate solutions. PrecentiaAir is designed to be client-focused to allow financial executives to build a long-term relationship by conducting regular reviews, presenting an opportunity to update client information and to meet changing needs.
PrecentiaAgent has the capacity to provide continuity of service before and after sales. It updates financial executives of regular meetings / contacts with the clients to ensure that changing needs are first identified and then addressed. This ensures that the financial executives maintain a required level of quality leads. Such leads will improve the conversion ratio of appointments to sales, enabling him to spend more time with the consumers. The ability to leverage consumer information held on the system to utilize as a ‘prompt’ that a consumer review is now due is becoming more important.
PrecentiaAgent also enables financial executives to target new and existing clients with products and services. Targeting may be undertaken in a number of ways. Financial executive contacts such client, agree a suitable time, date and convenient meeting and book an appointment into the system’s diary system.
3. Customer Service
PrecentiaAgent updates after-sales service on the status of the policy. Clients are able to keep abreast of the premium and benefit status of the policy on-line through the websites. Many failures to client’s propensity to refer other prospects and/or policy repurchase may be due to poor after sales service. Policy claims, policy modifications and enquiry hampered by the multiple layers of administration that cause delay in delivery are the many reasons why irritable clients turn to other providers. Invariably, sales relationship depends on the ‘speed to mark’ service to differentiate their superior competitiveness. PrecentiaAgent removes all unnecessary administrative layers
In any sales management, it is crucial that financial executives are kept with the up-to-date company‘s latest news, contest, info-bulletin and sales productions. PrecentiaAgent provides the sales force to be constantly updated online with the sales productions to drive for incentives and contest. Likewise, management is made fully aware of the day-to-day productions to drive sales. Macro and micro reports (ie: from company, regions, branches to financial executives) are consistently monitored to pinpoint business lags and re-strategize sales drives.
Ultimately, PrecentiaAgent aligns client strategies, processes, channels and infrastructure with discrete segments to ensure long-term profitable growth for the company. Bold and new operating capabilities are available to offer unprecedented service quality and to fend off rivals.
PrecentiaAct is an Agency Management System with analytic capability adopting that of LIMRA agency management framework. In a nutshell, PrecentiaAct uses analytics to assist the Agency Leader in identifying the gap in Key Business Drivers and her Sales Rep activity gap such as closing and productivity ratios. From the above analytics, the Company will be able to predict the outcome of the new business versus budget for the year. Likewise, the agency leader can have the same predictive analysis in the volume of sales by analyzing the monthly activity, closing ratio and the productivity ratio of the sales representative on a monthly basis.
These analytics serve as a critical information to both the agency leader and the company as immediate corrective action can be taken by the business development team engaging the agency leader to improve future months key business drivers.
By having the integration of PrecentiaAgent and PrecentiaAct, it will achieve the optimal result in managing activity of the sales representative to produce the desired result.