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In this evolving world of Netflix, Amazon and Uber, the customers are expecting a seamless and personalized service that is customized for them. Customers are presented with a suite of recommendations based on their behavior patterns and they can select the recommended services/products or further customize it. The millennials of the world are far ahead in which they want this kind of experience across all the products/services they consume, which would eventually include insurance products. When it comes to financial planning, insurance does not make it into a preferred area that people would like to plan for. Insurance distributors have a long and arduous process to provide the recommendation on the size and type of insurance that an individual should purchase. On the other hand, investment planning has gone through a substantial advancement where robo-advisory is almost a standard way. Insurance planning needs this kind of advancement, where the investments and insurance needs are collectively recommended to an individual based on her personal and financial profile. In this session, you will learn the high-level approach for this comprehensive recommendation engine. Then, there will be a discussion of about how this recommendation engine can be fit into the insurance sales process at the point of lead generation.
Learning Outcomes:
Attend this session and you’ll:
· Understand the high-level approach of the recommendation engine.
· Discocover how the engine will fit into the insurance sales cycle to improve the customer engagement.
Track: Spearheading Innovation Through Change
1.20 SOA CPD
1.00 CIA