Insurance brokerage typically means dragging luggage full of papers and a variety of tools for calculating premiums, benefits, preparing quotations, authorization documents – the list goes on – not to mention the fact that every document must be in duplicate. Who could have ever imagined that all this can be packed into a mobile device and accessible via a single click, and one swipe at your fingertips?
My name is Amarit Franssen (Mew), Marketing Director of AppMan Co., Ltd. and developer of AgentMate. Today I would like to share with you my innovation: a mobile solution for the insurance business called “AgentMate”, and hope that everyone can make use of what I have encountered from my experience.
Given the increasingly digitalized way of working today, AgentMate is therefore a “blessing” for insurance brokers and potential clients. In 2011 – 2012, AppMan developed AgentMate based on the fundamental idea of finding solutions to the “challenges
” in line with these core principles:
Why is there a lack of progress in the way how insurance brokerage functions for many years?
I’d like to begin by pointing out the fact that the insurance industry is worth THB 700 billion.
But have you ever wondered why it requires so much tedious paperwork? In fact, insurance is one of the industries with the highest rate of paper consumption. Therefore, I have developed AppMan with a focus on tackling these complexities by means of developing various functions to facilitate clients to the extent possible. Machine learning features such as the use of mobile devices and the optical character recognition (OCR) function have also been integrated into AgentMate with the objective of reducing “back office” work, while the review feature for checking documents has been added to increase the app’s efficiency.
Formulate assumptions and find solutions that best meet client needs
In order to ensure that AgentMate truly responds to the needs of clients, it is pivotal to see things from the client’s perspective. Only then would it be possible to determine what clients want, and how we can help them achieve those goals, regardless whether as a result of a thoughtful and analytical process or research, because the very foundation of a business is often built upon the existence of needs. In fact, the first step involves the formulation of assumptions, which may seem like a science, but is actually effective. Not only do we have to be aware of what clients want – we must, however, know what clients would want. We strive to be the person who always cares about our clients, one who is constantly aware of the clients’ needs, knows what steps to take in order to make him/her happier, and ultimately be able go beyond responding to the clients’ needs.
We always ensure that software systems undergo testing before launching an app to the public because problems that occur in a controlled environment are much easier to resolve than those that surface after the launch. In addition, thorough testing further increases the stability of the app. The process of studying, testing, and launching an app is incredibly fast because time is of the essence. As such, the advantage and challenge for a business depends on this: if we are slow and if clients find a more viable solution, we are just as good as dead.
AgentMate’s next step
AgentMate has attracted the attention of many insurance companies. Based on my own analysis, the distribution channels of insurance premiums are as shown below:
It is evident that the highest proportion, which is more than one-half of the total, is via insurance agents, followed by Bancassurance. We are confident that AgentMate will be able to successfully penetrate the international market. The fact that the headquarters of many insurance companies are located in ASEAN countries is highly advantageous, for if we are able to successfully penetrate the international market, the app would become Thailand’s national pride. In the course of our collaboration, KRUNGSRI RISE has given many insightful recommendations that are highly beneficial to our work. I would like to express my gratitude to KRUNGSRI RISE for having provided guiding support and for having fought with us through thick and thin up until today.
What matters is “passion”
Before I conclude today, I would like to share a tip that you can use for improving your own business, which is one of the most crucial principle to remember: What matters is “passion
”. No matter how good, how competent we may be, and how many team members we have, whenever we grow weary, the only thing that keeps us going is our “passion”. For without that motivation, we would not find the strength to realize our dreams. So fuel your dreams with passion, make them burn so brightly that the transient thought of giving up cannot take that “passion” away from you.