Infobip Case Studies Asia Insurance 1950: Streamlining Policy Renewal with IoT

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	Asia Insurance 1950: Streamlining Policy Renewal with IoT Infobip

Asia Insurance 1950: Streamlining Policy Renewal with IoT

Infobip

Technology Category	Networks & Connectivity - 5G
Applicable Industries	Finance & Insurance National Security & Defense
Applicable Functions	Sales & Marketing
Use Cases	Tamper Detection Usage-Based Insurance
Challenge	Asia Insurance 1950, a Thailand-based insurance company, was grappling with inefficient and costly policy renewal processes. The traditional method relied heavily on face-to-face or telephonic communication between staff, clients, and intermediaries, often requiring documents to be printed and posted. The E-Policy process, when done over conventional channels, was time-consuming. Furthermore, communication post-policy activation was complex. When an accident was reported, clients could not immediately receive information about their dedicated surveyor, leading to increased calls to the company and wasted resources. The company recognized the need to automate their processes to serve customers better and faster, save resources, time, and money. However, customer privacy was a significant concern when considering digital services. Read More
About Customer	Asia Insurance 1950 is a Thailand-based insurance company, registered for over 60 years by the Asia Trust Bank Group. In 2005, it became the first and only insurance company in Thailand to invent Asia 3+ for Motor Insurance, which has since become a generic name. The company is known for its iconic insurance product, Asia 3+. It was facing challenges with its policy renewal process, which was lengthy, expensive, and relied heavily on manual communication and document handling. The company sought to automate its processes to better serve its customers, save resources, and enhance security. Read More
Solution	Asia Insurance 1950 integrated Infobip’s LINE Notification Service and SMS channels with their CRM to automate tedious tasks and messaging campaigns. This digital transformation automated the policy renewal process from start to finish. As a policy's expiry date approached, an automated LINE message was sent to the client with a link to begin their policy renewal and online payment process. Automated SMS messages were used to connect surveyors with clients, notify related parties, and deliver one-time PINs (OTPs) to confirm the client’s identity, ensuring security throughout the process. LINE notifications were also used for various marketing campaigns, including sending special offers to users who subscribed to a policy within a specific period or during festive seasons. Read More Log in to view content
Contents

Technology Category

Networks & Connectivity - 5G

Applicable Industries

Finance & Insurance

National Security & Defense

Applicable Functions

Sales & Marketing

Use Cases

Tamper Detection

Usage-Based Insurance

Challenge

Asia Insurance 1950, a Thailand-based insurance company, was grappling with inefficient and costly policy renewal processes. The traditional method relied heavily on face-to-face or telephonic communication between staff, clients, and intermediaries, often requiring documents to be printed and posted. The E-Policy process, when done over conventional channels, was time-consuming. Furthermore, communication post-policy activation was complex. When an accident was reported, clients could not immediately receive information about their dedicated surveyor, leading to increased calls to the company and wasted resources. The company recognized the need to automate their processes to serve customers better and faster, save resources, time, and money. However, customer privacy was a significant concern when considering digital services.

About Customer

Asia Insurance 1950 is a Thailand-based insurance company, registered for over 60 years by the Asia Trust Bank Group. In 2005, it became the first and only insurance company in Thailand to invent Asia 3+ for Motor Insurance, which has since become a generic name. The company is known for its iconic insurance product, Asia 3+. It was facing challenges with its policy renewal process, which was lengthy, expensive, and relied heavily on manual communication and document handling. The company sought to automate its processes to better serve its customers, save resources, and enhance security.

Solution

Asia Insurance 1950 integrated Infobip’s LINE Notification Service and SMS channels with their CRM to automate tedious tasks and messaging campaigns. This digital transformation automated the policy renewal process from start to finish. As a policy's expiry date approached, an automated LINE message was sent to the client with a link to begin their policy renewal and online payment process. Automated SMS messages were used to connect surveyors with clients, notify related parties, and deliver one-time PINs (OTPs) to confirm the client’s identity, ensuring security throughout the process. LINE notifications were also used for various marketing campaigns, including sending special offers to users who subscribed to a policy within a specific period or during festive seasons.

Impact #1	The automation of Asia Insurance 1950’s communication processes has significantly optimized their operations and resource management. The policy renewal process, which used to take approximately two weeks, now lasts about five days. The use of triggered Line messages to clients has not only reduced costs and workload but also streamlined communication between the company’s clients, surveyors, and intermediaries. The digital transformation has also enhanced security, ensuring the protection of the client’s personal information throughout the online renewal process.

Impact #1

The automation of Asia Insurance 1950’s communication processes has significantly optimized their operations and resource management. The policy renewal process, which used to take approximately two weeks, now lasts about five days. The use of triggered Line messages to clients has not only reduced costs and workload but also streamlined communication between the company’s clients, surveyors, and intermediaries. The digital transformation has also enhanced security, ensuring the protection of the client’s personal information throughout the online renewal process.

Benefit #1	9x faster policy renewal process
Benefit #2	83% reduction in costs
Benefit #3	60% reduction in back-office workload

Benefit #1

9x faster policy renewal process

Benefit #2

83% reduction in costs

Benefit #3

60% reduction in back-office workload

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Overview

Asia Insurance 1950: Streamlining Policy Renewal with IoT

Operational Impact

Quantitative Benefit