IPRU Edge, a comprehensive ‘Advisor Stack’ offered by ICICI Prudential Life Insurance has led to a 37 per cent increase in its agent productivity in the first half of this fiscal, resulting in higher earnings for them.
The ‘Advisor Stack’ empowers the company’s advisor network of over 2 lakh agents to grow their business, manage operations and deliver an enhanced customer experience.
About 61 per cent of the company’s top tier advisors are now active users of the stack, said the company.
Advisors using IPRU Edge have shown 37 per cent increase in productivity and a 49 per cent year-on-year growth in the contribution of the Agency channel towards the retail weighted received premium in the first half of this fiscal.
IPRU Edge, serves as an office on-the-go, enabling agents to focus on new customer acquisitions rather than administrative activities. Agents get access to new business leads and generate demand through social media. Also, it enables them to view their business and earnings.
The advisor stack, embedded with OCR (optical character recognition) technology coupled with real-time KYC authentication leading to increased efficiency. This helps agents from smaller towns and villages to provide better customer service, it said.
Srinivas Balasubramanian, Chief of Product and Marketing, ICICI Prudential Life Insurance said the Advisor Stack or IPRU Edge gives advisor network access to powerful tools and features that help them grow their business by enabling them to focus on revenue generation tasks instead of administrative activities. The stack aids advisors to login in new business, helps them with lead opportunities, demand generation and customer service to name a few options, he said.
“We are the first life insurer in the country to pay out commissions on the same day to select advisors. Notably, 98 per cent of the eligible agents using IPRU Edge were paid commissions on the same day,” he said.
The technology has enabled ICICI Pru Life Insurance to issue about 50 per cent of policies on the same day for the savings line of business in the first half of FY’25.
The advisor stack also acts as a platform for training and development, with advisors benefiting from the specialised content related to processes and product offerings.
