Probus Insurance Brokers has sold 85% of its plans from its website & app:
Probus Insurance Broker is one of the prominent insurance brokers has excelled in the fields of insurance distribution, channel management and relationship management, The company’s director, Rakesh Goyal, has implemented pioneering strategies for distribution and has helped build corporate relationships and management skills. Digital transformation is forcing companies to change their business model and adapt to the new digital strategy. Like other leaders, Probus at the forefront to embrace digitization way before the outbreak of the pandemic or many other companies thought of. The end-to-end automation, such as underwriting to claims processing, brings transformation, impacting the online customer journey.
Probus has implemented various new digital strategies like enhancing customer experience both on the web and mobile, reaching out to new customers and partners via organic search.
Goyal informs: “For the current FY, we are moving ahead with data-driven marketing initiatives on all our digital channels to reach out to new customers and partners with highly targeted messages. Moreover, we have already initiated aggressive promotion of our app by integrating it with web, and promoting it via Google and other third-party channels. Enhancing the user experience and creating a strong ecosystem, we ensure the cloud-native and AI powered RPA (Robotic Process Automation) platform. The RPA brings intuitive experience of a consumer application supported with chatbot solutions.”
Currently the company’s customers are evenly distributed on both its online platforms – website and app. Probus has 29 insurance companies in live API integration, which helps them to showcase quotation directly from insurer in no time.
Sales By Online Platforms
With the rapid growth in the online insurance industry, Probus Insurance Broker entered the online space to leverage its network and experience in the offline market to a next level through the medium of mobile app and online portal. Probus has seen a substantial increase in the demand for insurance such as 2-wheeler, private car and health insurance in the previous years. It has witnessed phenomenal growth in the last 4 years, with the number of policies sold through the online portal increasing from 67,000 to 1.3 million across 14,500 pin codes. Effective use of data-driven marketing initiatives is a significant part of its digital strategy for the current FY.
Furthermore, there have been more than Rs3.6 million business made from (FY 2017 to September 2022), with Mumbai, Gujarat and Delhi being the top 3 states giving the maximum business. Probus possess a strong geographical presence across the country through its offices as well as PoS (point of sale), which offers the bandwidth and capacity to provide excellent after sales services as well as Point of Contact for online customers. Easing the task of the user, Probus came up with WhatsApp chat facility on the site that ensures that the user can ask for any queries related to services and can even opt for the desired policy.
Goyal bifurcates: “More than 85% of our plans have been sold from our online platforms (website & app). The premium is evenly acquired from both online and offline mode, as most of the big-ticket premiums are still obtained through the offline mode. Our target is to upgrade legacy applications and traditional methods with new digital technologies. We will implement new tools, improve CX, keep up with changing market demand, and use connected, autonomous and programmable technologies.”
Probus has upgraded the tech stack with new age technologies AI and ML, to help stronger reach in tier 2 & tier 3 cities.
IT Vendors, Team
For Probus Insurance Broker as one of the leading InsureTechs, AWS / Microsoft Azure / Google are the three main techno vendors, along with AWS Cloud Server / S3 Bucket / SES. The services used are Microsoft Azure DevOps, TSF & Google services such as business email/cloud server. Armed with diversified industry know-how, the firm constructs a unique benefit in understanding several businesses and their risk profiles.
Goyal claims: “At the core, Probus dynamo is a team of proficient risk engineers and underwriters. For data centre, we make use of AWS /Microsoft / Google and networking hardware such as SonicWall firewall / WAF / AWS Security Group. Talking about uplifting the skillset of our staff, we are offering various types of training sessions/certifications for our IT employees so as to enhance their skill sets. Currently, the size of our IT team is of around 40 members.”
Analytics, CRM Tools
Tech savvy companies gain by deploying analytics to increase their business. Technology is put to use for customer relationship management (CRM). Analytics is a major part of the digital strategy at Probus. It is using multiple CRM tools to build a strong relationship with its partners. Driven by expertise, Probus has tie up with almost all the marquee insurance companies. Nowadays, social media plays a vital role to connect with new customers and build a relationship with existing partners. Probus Insurance Broker has been running multiple campaigns on various social media channels like Facebook, Instagram, Twitter, LinkedIn, YouTube and also collaborating with different influencers to create the necessary awareness of insurance and the products.
The state-of-art processes and customized systems for auditing and analysing existing insurance portfolios of the clients and robust claims management techniques makes Probus one of the most trusted insurance brokers to work with. Goyal explains: “Improving core web vitals for better page experience on our website. Design-related changes, improving product forms, and targeting users with specific content as per their search intent are part of our process for CX enhancement. For the next FY, we would focus more on utilizing visual content. People are consuming more videos and other visual content these days. Considering this crucial element, we have incorporated this bit into our digital strategy which, includes digital films, product creatives, educational posters etc.”
IT, Digital Targets & Plans
The target of Probus Insurance Broker is to upgrade legacy applications and traditional methods with new digital technologies. Goyal elaborates: “This will be done by implementing new tools, improving customer experience, keeping up with changing market demand, and using connected, autonomous and programmable technologies. In addition to this, effective use of data-driven marketing initiatives is also a significant part of our digital strategy for the current FY. With our strong local footprint and distribution network, covering over 400 cities, we are expecting to reach out to more than 10 million insurance beneficiaries in the next 4 years.”
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