Vymo Spotlight - September

A compilation of some of this month’s popular stories from Vymo and our newsletters across insurance and banking. Here’s what we’ll cover in this issue:

?? How Ageas Federal Life Insurance is reimagining tomorrow through digital transformation

?? Our product updates for this month

?? Major bank rebrands through the years

?? Vymo in Insurance Thought Leadership

And more!

We hope you find it interesting.

Reimagining Tomorrow?

How Digital Transformation Can Build a #FutureFearless Workforce.

We recently had an opportunity to interact with the leaders from Ageas Federal Life Insurance and discuss their ‘Reimagine Tomorrow’ program.?

This initiative aims to infuse enthusiasm into the workforce through digital transformation, with the twin goals of enhancing customer satisfaction and refining customer targeting.

Here are excerpts from our conversation:

On Building Lasting Relationships

Ageas Federal has earned recognition as one of India's top three workplaces in the insurance sector by Great Place to Work?. What's the secret behind their happy customers?

Everything we do as an enterprise delivers on our purpose to provide means for people to live a life and lifestyle of their choice. By focusing on human relationships, we have not only achieved remarkable growth, but we have also been able to make a positive impact on the lives of our customers, employees, shareholders, and the community.?

On Digital Transformation

Insurance companies handle extensive data from various sources—customer information, policies, claims, and risk assessments. To provide personalized experiences, agents need a seamless way to engage with customers. That's where digitizing our manual interventions comes in.

For a digital-first insurance company, establishing a robust foundation for customer satisfaction and scalable business growth is essential. This foundation should be adaptable to regulatory changes and support nationwide expansion.

On the Role of Relationship Managers in Bancassurance

Bancassurance is pivotal for Ageas Federal, constituting 80 percent of our top-line revenue. The key to its success lies in understanding our banking partners. Achieving this requires a deep grasp of their culture, market, and customer segments, aligning our goals with theirs.

Our sales team collaborates closely with the bank on a daily basis.

This alignment is vital, as the productivity of a relationship manager (RM) hinges on customer satisfaction. An RM must realize they represent both the bank and the insurance company. Consistency in communication, delivering the right sales pitch, honoring commitments, follow-ups, and support until the last document is delivered—these factors leave a lasting impression.

More satisfied customers result in more productive RMs!

Go Deeper!

Vymo Product Updates

What's new in Vymo's Agency Suite?

Vymo provides the world’s most comprehensive sales and distribution platform, which spans across all personas and journeys for agents and agency managers.

With the new Agent Suite, we can enable behavioral shifts among the field teams with contextual sales journeys, in-the-moment action prompts, and easy-to-use platforms.?

AI-DRIVEN JOURNEYS

?? Agency Manager

Recruitment (Nurture)

Determines touchpoints using data (product profile, past engagements)

Activation

Constant learning companion until they hit their activation milestones, delivering content and insights relevant to them.

Engagement?

Forecasts agency drop-offs, and suggests remedies. AI creates personalized engagement playbooks.

???Agency

Prospect

AI clusters contacts, curates tailored campaigns, and allows A/B tests.

Convert

It also identifies financial gaps and suggests product matches. It also Detects churn patterns and prompts smart interventions.

??Bank X?

?With Twitter rebranding to X nearly a decade into being in business, we thought we’d take a look at similar rebrand exercises in banks!

• Meta Financial Group - Pathward Financial (to avoid comparisons to Facebook’s own rebrand to Meta)
• Silicon Valley Bank UK - HSBC Innovation Bank UK (a controversial rebranding, to say the least!)
• Bank Fama International - Super Bank Indonesia (a move to strengthen the bank’s digital services, and have the name reflect that)

Here are some logo/design-based rebrands:

??Vymo in Insurance Thought Leadership

?? With AI and sales tech, lead allocation has become more streamlined and intelligent.?

Venkat Malladi (Co-Founder, CTO, Vymo) dives deep into the lead allocation revolution in his article for the Insurance Thought Leadership:

? Rule-Based Efficiency - Streamlined allocation based on key parameters.?

? Machine-Learning (ML) Precision - AI calculates a 'conversion propensity score' for optimal matches.?

? 80%+ Accuracy - ML ensures higher conversion success.?

? Enhanced Pairing - AI's evolution refines matches for growth.?

Read the entire article here !