IndiaFirst Life Insurance launched 'MagicBoard', an integrated portable device which is compliant and efficient enough to service customers needs and services. These are hand-held tablet PC for real-time information.
P. Nandagopal, managing director and chief executive, IndiaFirst Life Insurance says, when an insurance policy is sold its best if it's sold offline so the insurer and the customer both are clear of the transaction. “Customers do not get the right information to take clear decisions, perceive the product as complex, sales process cumbersome and service poor.”
The bancassurance and insurance company agents will carry this device which will help the customer in selecting a suitable insurance product. With this the chances of an individual being mis-sold a policy are low. Since the insurer has a customised software, the device will profile the customer, recommend a product, upload his data, verify his documents, revalidate the information provided all on a real time basis.
Currently, the insurer has given out 1000 tabs to its bancassurance agents and will equip its in-house agents also with the same device in the next 2 to 3 months. The insurer has spent a little less than one crore on tis move.
'MagicBoard' will automate and simplify the sales processes and connect the customer with the distributor, employees and the insurance company for real-time information, intelligence and intervention.
