The only thing that is constant is change. This has been said many times over again and again but it couldn’t be more true nowadays for businesses who need to adjust and make changes at lightning speed. Digital transformation has become the buzzword and anyone who isn’t able to cope up will end up in the dinosaur era.
Digital transformation can be done in any industry, even banking and BPI is making sure that it is not left in the dust. The use of technology to revolutionize how companies reach their customers isn’t unique only to tech giants after all.
In celebration of Bancassurance month, BPI-Philam shares how fintech shouldn’t just be at the fringes of the business and the customer journey, it should lead it. Revolutionizing financial security and insurance is not only about improving products – it’s also about improving customer’s experience every time they interact with the bank. People used to have to take ten or twenty steps before they get their hands on the policy that they want. Technology has helped banks cut those steps significantly, and it has allowed banks such as BPI to fulfill their mission of making insurance easy to get and easy to have.
BPI-Philam saw the opportunity to modernize insurance selling practices through the Interactive Point of Sale (iPoS), a first in the life insurance industry. Every Bancassurance Sales Executive (BSE) is equipped with this technology to guide customers through the insurance process quickly and efficiently.
The iPoS eliminates the need for physical application forms and papers. iPoS also allows BSEs to capture, sign, and submit documents with ease through eSignature and ID Capture eliminating the need for photocopies. The iPoS shortened the usual transactions that used to be manually inputted through a computer and jotted down on paper. Aside from helping in sales, the iPoS also helps its BSE improve and outperform their targets through an embedded activity monitoring module.
Truly, times have changed and everything is faster now more than ever so what are you still waiting for? Go ahead and jump in coz times are a changing.