Submitted by

Cornerstone Insurance

Premium
03/03/2025 Insurance Innovation
Straight Through Process powered Omnichannel Sales Portal to simplify the entire insurance purchase journey in minutes.
Innovation details
Country
Nigeria
Category
Re-imagining the Customer Experience
Keyword
Customer experience, Operational excellence & efficiency, AI & Generative AI, Savings & Investments, Insurance, Digital channels & Omnichannels, Marketing & sales, Claims management, Automation, Automated Inspection, Underwriting
Business Line
Motor insurance, Accident Insurance, Home Insurance, Life Insurance
Distribution Channel
Partners, Agents, Bancassurance, Brokers, Online / Direct

Innovation presentation

The objective is to enable prospects and existing customers to purchase and renew insurance policies online from start to finish with only few clicks. The reason behind this innovation is to place our insurance products/services on the palms of the customers without the need to visit any of our branches across the country. Some of our competitors have digital sales channel however the journey is cumbersome, and it still relies on people at the back office to complete the booking of insurance that started online. Source of inspiration is from Fintech companies where you can open a gain access to banking service (opening bank account, registering ATM Debit cards etc) without visiting any of the bank branch locations. Departments involved are Customer Service, Underwriters, Finance, Digital Transformation, and Information Technology Team. The result so far has been phenomenon both to our existing and external customers. This is helping our company scale up distribution channels with Digital Partnerships.

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