Hello Guys, I am honored to be featured in this series of BizTalks specially during a pandemic!
As an introduction, I work as an insurance agent. For the past 16 years, I offer non-life insurance and medical insurance products.
The pandemic has highlighted the crucial role of medical insurance given the high and unexpected costs of hospital care associated with Covid-19. There is a noticeable spike in applications for insurance which made me a bit busier.
With the overall slowdown of the economy that has affected all industries, the demand for insurance from SME’s. Collection of payables is also a continuing challenge. Although the menu of products essentially remains the same, we use a lot more zoom for product presentations in place of actual meetings. Thankfully, we insurance agents became more efficient without the related travel downtime and costs to provide more information and better explanations to our clients.
Specifically, clients are more aware and receptive of digital or electronic policies which lessens the paperwork and helps the environment a lot. E-policies are sent via email or through any social media app like viber or whatsapp.
Despite the challenges of cash flow, collection and payment is undertaken via online banking and payment platforms that take out the need for physical cash or the reliance on messengers to pick up checks. Verification and record-keeping is also streamlined.
Technology is helpful and I am keeping up with it. It is an effective and efficient medium to start and complete deals over phone calls, video conferencing and emails. I am using this time to continue to deepen my understanding of the insurance products and pore over the technical details of each type of policy at the same time, keeping an eye, an ear and my whole mind towards digitization!
