InsureTech
Banks in Bangladesh have made initial strides in developing their digital sales capabilities by working on areas like easy and secure login options as well as integration of basic and third party product applications in their mobile banking applications. However, Insurance manages to score low for their mobile applications; trailing the global peers.
Given the lack of consumer trust in Insurance services, firms must rethink how they create and deliver products and services.
We believe a concept that is key to developing future services that focus on financial wellness is personalization. Supported by a rich array of data and analytics, personalized interactions involve interaction, visualization and strategies to help customers maximize their lifetime financial well-being at every moment.
To deliver personalized experiences, the financial services industry needs to shift its focus away from individual products and toward propositions their customers truly value. Unbundling products and re-bundling them as holistic offerings could help firms meet the needs of their customers in every micro-moment.
Rebundling should deliver a tailored experience focused on three key financial needs:
Navigation: helping customers identify the best propositions to meet their needs.
Concierge: helping customers access the right offerings.
Customisation: helping customers resolve unexpected events and life challenges.
This rebundling strategy requires firms to rethink their current revenue models.
Data Analytics -Improving sales effectively
Data analytics can help companies identify potential opportunities to streamline operations or maximize their profits.
Online Sales Management
Increased banking customers, internet penetration and interventions by Govt & Regulatory changes will a substantial boost.
Customer Retention
The more customers that you can keep and continue to sell to, the more likely you are to achieve your business goals.