Client background
DBS is a leading bank in Asia, named “World’s Best Digital Bank” with its extensive network of operations in Asia and emphasis on engaging and empowering its staff with digital technology.
The challenge
Engaging clients on life products always required accurate and lengthy customer data capture for financial need analysis purposes. Relationship managers not only struggled to fill in the long questionnaires, but also found it hard to recommend the best-fit products in an efficient manner. Aside from that, the data didn’t communicate in real time, delaying the processing of policy applications and requiring redundant data entry. This resulted in an unsatisfying and inefficient customer experience.
The solution
DBS brought in CoverGo to help build the IBG Insurance e-Platform for DBS staff to fill in the Business Financial Need Analysis form (“BFNA”) for its IBG corporate customers via tablet and generate BFNA form and recommend suitable products before handing over the information to ManuLife representatives.
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Advisor completes the necessary forms with customer data and data for selected product(s) where unnecessary pages / questions are automatically filtered out
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Selected product(s) and customer data are sent to Manulife via emails with password-encrypted PDF attachments
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Policy data is passed to CoverGo admin system for them to manage the cases
Business benefits
Gained customer satisfaction on its professional services in onboarding clients to products with a frictionless and user-friendly customer experience.
Shortening of customer onboarding and policy processing lead time while customer satisfaction increased.
