Originally published by -Business Iconic on December 28, 2021
Referral Management with Marketing Automation (for Banks), Mobile Point of Sale, Online Direct Selling, Online Claims, Agency Distribution, Online Customer Service Portals, and Corporate Websites are just a few of the cutting-edge online solutions the business has implemented in the previous 11 years. In response to the growth of AI and chatbots, 121Advisor implemented disruptive solutions such as multilingual chatbots and Robo Advisors, as well as AI-based Predictive Analytics and Machine Learning for predicting new products, lapsation, fraudulent claims, and future predictions for investment funds.
Customer Service Portal, Online Sales, Mobile Point Of Sale solutions, Multi-Channel Distribution Management Systems, Agency Leader Corporations (ALCs), and providing computed payments and providing to ALCs are just a few of the services that 121Advisor has developed to help the firm expand.
121Advisor provides the following services:
- Predictive Analytics with Machine Learning
Building Predictive Analytics Models (PAM) for Banking, Insurance & Takaful. 121Advisor solutions focus on predictive marketing & sales, customer service, new business underwriting, personalization and claims management.
- Multi-lingual Chatbot for Financial, Insurance & Takaful (FITbot)
Multi-lingual Robo Advisor and a chatbot that utilizes hybrid trees and natural language processing (NLP) to engage with customers to offer a more personalized customer experience and generate more referrals.
- Web Portal Solution for Sales & Servicing (WebPoS)
Multi-lingual mobile responsive website and portal solution to enable clients to experience a unified personalized digital experience where content, sales, marketing, and work management are consolidated instead of siloed.
- Referral Management & Marketing Automation (ReMMA)
Used for banks to effectively and efficiently auto-assign leads, tracks, and manages lead referrals and conversions based on user-defined workflows. Marketing automation results in personalized content delivery targeted campaigns and engagement.
- Sales Activity Mobile App (SAMA)
Allows agents to effectively plan and manage sales activity to ensure all leads and prospects are addressed. Managers can monitor real-time to render assistance where necessary.
- Community & E-worksite Marketing & Distribution (CeMD)
Community portal solution allows organizations to engage with members of their community to nurture trust and create advocates thereby improving customer retention. Recently launched u12know knowledge portal.
- Choices Online Store (COS)
Allows insurers and takaful operators to provide direct purchase of products online. Canintegrate with Multi-lingual Chatbot for Financial Insurance & Takaful (FITbot) robo-advisor services as well as referrals via Referral Management & Marketing Automation (ReMMA).
- Takaful & Insurance Mobility Made Simple (TIMMS)
A cross platform mobile point of sales solution allowing agents to identify client financial needs via Customer Fact Find, recommend products, make presentations, generate quotes and e-submit applications, in a regulatory compliant process. Solutions for IOS, Android, and Windows.
- Enterprise Product Configurator (EPC)
Reduce the time to market for insurance and takaful products with the Enterprise Product Configurator (EPC). Built to rapidly setup product rates, illustrations, and validation engines, as well as an automated testing module, allows quick product deployment.
- For general agencies, IFAs, brokers, and Agency Leader Corporations (ALCs)
To streamline operations by combining their disparate needs. With built-in performance management and compensation computation, our clients have seen improved sales with reduced administration costs.
The Customer Self Service Portal is an on-demand access point enabling customers to view their insurance/takaful accounts anywhere and anytime. This enables the policyholders to view their policies and certificate details via a simple internet connection. The portal provides a safe avenue for customers to update their personal information, pay premiums, switch funds, print documents, update beneficiary details, request policy changes, and engage in filing claims and processing, which traditionally would take weeks to be executed due to siloed lines of business. The platform also supports automated workflows that are triggered by certain customer activities, which are routed to relevant departments, and customers are kept informed via emails or messaging. By providing a portal for your customers with the convenience of self-servicing, customers can enjoy the freedom of doing what’s convenient for them, when they want, anywhere.
The Visionary Behind 121Advisor
Kevin Steer is the founder and CEO of One Two One Advisor Sdn. Bhd. (121Advisor), a Malaysian company. He has spent the previous 20 years designing and implementing innovative IT solutions in Asia Pacific countries such as Malaysia, India, and China, producing highly scalable multilingual enterprise systems.
Mr. Steer earned a Bachelor of Arts Engineering degree, a Master of Arts (Electrical Sciences) degree, and a Master of Science (Computing) degree from Imperial College in London, United Kingdom.
Kevin Steer began his career in 1988 as a research engineer at Artificial Intelligence Ltd. in the United Kingdom, where he worked on massively parallel AI systems. He worked as a consultant for Strand Software Inc. in the United States, the Oregon Advanced Computing Institute in Oregon, and Boeing Aerospace Inc. in the United States from 1989 to 1990.
Kevin says, “I am a ‘techie’, and I design software requirements for the team, and I get feedback from them. 121Advisor is fully Regulatory Compliant and we test each year to validate data & risks to be Regulatory Compliant.”
View on Current FinTech Landscape and Vision for Future
Because most millennials in Asia Pacific do not understand financial planning and frequently max out their credit cards and go in debt, there is a need to educate them on their financial objectives and offer items that they may buy online.
Kevin and his colleagues believe that with the introduction of u12know, it will become a revolutionary information portal that offers advice on lifestyle, financial, and (in the future) health goals. This will assist them in identifying their requirements and developing a strategy to help them achieve their lifestyle and financial goals. This will be translated into the local language for each country.
With the ongoing epidemic, 121Advisor realised the need to provide financial and health services online, as well as lifestyle financial and health counselling. The company recently launched a knowledge portal, u12know (www.u12know.com) in Malaysia that provides lifestyle financial advice (for singles, married, families, retired, and business).
Kevin says, “This will be continuously extended to include lifestyle financial goals with recommendations for financial and business products, including our multi-lingual chatbot and Robo Advisor (which provides advice on financial goals).” In the future, u12know will include health and wellness calculators to help people understand their health and what they need to do to improve it. This will also include a “total health score” based on the health calculators that will indicate whether they are very healthy, healthy, unhealthy, or at risk.