insurtech - enabling sales through digital transformation

Empowering Insurance Sales through Digital Strategy

The insurance landscape in India faced a pivotal challenge as traditional sales channels struggled to maintain momentum, leading to inflated cost structures. Simultaneously, the need to expand penetration and reduce distribution expenses was paramount. With a surge in smartphone and internet accessibility among Indians, the prospect of digital sales and services emerged as a transformative opportunity.

To harness this potential, MAGI was entrusted with crafting an online sales strategy bolstered by digital marketing and execution capabilities.

digital strategy and e-commerce

Sales Shift: Shifting from traditional sales channels to a digital-driven model demanded a strategic overhaul.

Customer Engagement: Ensuring seamless customer engagement across digital platforms and call center interactions.

Integration Complexity: Integrating diverse insurance products across General, Health, and Life insurance domains into a unified digital platform.

Technological Precision: Developing a robust and user-friendly web solution and ensuring its seamless integration.

Digital Marketing: Creating a digital marketing strategy to acquire customers and track conversions effectively.

MAGI’s approach was marked by strategic thinking and comprehensive execution:

Solution Blueprint: Collaborated with external IT developers to design and implement a core web solution enabling easy comparisons of various General, Health, and Life insurance products.

Insurer Partnerships: Engaged leading General, Health, and Life Insurance companies to enable online sales of selected insurance products.

Digital Marketing Strategy: Developed and executed a customer acquisition strategy with meticulous conversion tracking.

Call Center Implementation: Set up an in-bound and out-bound call center for seamless sales conversion support, focused on customer experience enhancement and drop-off mitigation.

Digital Sales Platform: A robust web solution facilitating product comparisons and enabling online sales of various insurance types.

Streamlined Operations: Integration of General, Health, and Life insurance products under a unified digital umbrella.

Enhanced Customer Experience: In-bound and out-bound call center interventions ensured a seamless and engaging customer journey.

Customer Acquisition: The digital marketing strategy led to effective customer outreach and successful conversions.

Operational Efficiency: A reduction in distribution costs through optimized digital sales channels.

Key Deliverables:

Solution Design: A comprehensive web solution enabling easy comparison and online sales of diverse insurance products.

Insurer Collaborations: Partnerships with leading insurance companies for online sales integration.

Digital Marketing Strategy: A tailored strategy for customer acquisition with conversion tracking mechanisms.

Call Center Implementation: A fully functional in-bound and out-bound call center for customer support and conversions.

Bancassurance partnership agreement
Crafting a Successful Bancassurance Agreement
Bancassurance due diligence, business plan, valuation
Strategic Bancassurance Partnership Selection
digital strategy and e-commerce
Empowering Sales through Digital Strategy
Banca bid assessment
Crafting Strategic Excellence: Evaluation of Partn...
insurance sector research report
Industry Report: Life Insurance, India
implementation planning
Distribution Partnership Implementation to Achieve...
financial modelling, actuarial, valuation
Strategic Partnership Development: Crafting Winnin...
industry benchmarking
Industry Benchmarking Study: Operations and IT
Business Consultancy
technology and digital transformation
Transforming Investment Management through Technol...
Business Consultancy
financial and actuarial modelling, valuation
Financial Model and Proposal Valuation, Pitch Deck
placing interim CXO managers
Interim Management for Transformational Change
Human Capital
training academy
Building a Best-in-Class Training Academy
Business Consultancy

Elevate your sales into the digital age

Connect with us to explore how we can assist in transforming your digital strategy