Originally published by -Inspire Zones on December 21, 2021
Since its inception, Kevin Steer (Founder and CEO) has been the driving force behind the company’s growth. With more than 20 years of successful track records in technology solution implementation and consulting services to various clients in the financial, insurance, and the takaful industry across the Asia region, he has driven the company towards immeasurable growth. Under his exemplary leadership, 121Advisor focuses on blending technology in the financial and insurance sector and delivers smart and innovative solutions.
Offering Diverse, Smart, and Innovative Services
121Advisor was founded with a motto, “We don’t follow trends, We Pioneer them.” And this motto is reflected in its various innovative and smart services –
- Predictive Analytics with Machine Learning
Predictive Analytics Models (PAM) for Banking, Insurance, and Takaful are being developed. Predictive marketing and sales, customer service, new business underwriting, personalization, and claims management are all areas where 121Advisor solutions excel.
- Multi-lingual Chatbot for Financial, Insurance & Takaful (FITbot)
Multi-lingual Robo Advisor and a chatbot utilize hybrid trees and natural language processing (NLP) to engage with customers to offer a more personalized experience and create more referrals.
- Web Portal Solution for Sales & Servicing (WebPoS)
Multi-lingual mobile responsive website and portal solutions provide clients with a single tailored digital experience in which content, sales, marketing, and work administration are merged rather than siloed.
- Referral Management & Marketing Automation (ReMMA)
Utilized for banks to effectively and efficiently auto-assign leads, track, and manage 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)
It allows agents to effectively organize and manage sales activity, ensuring that all leads and prospects are addressed. Managers can keep an eye on things in real-time and intervene if necessary.
- Community & E-worksite Marketing & Distribution (CeMD)
Organizations can use a community portal solution to engage with members of their community in order to foster trust and generate advocates, resulting in increased customer retention. Recently launched u12know knowledge portal.
- Choices Online Store (COS)
It allows insurers and takaful operators to provide direct purchase of products online. This can be used in conjunction with a Multi-lingual Chatbot for Financial Insurance and Takaful (FITbot) robo-advisor services, as well as referrals via Referral Management and Marketing Automation (ReMMA).
"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.”
- 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. It is the solution for IOS, Android & Windows.
The Customer Self-Service Portal is an on-demand access point that allows customers to see their insurance/takaful account at any time and from any location. This allows policyholders to view their policies and certificate information through the internet. Customers can update their personal information, pay premiums, switch funds, print documents, update beneficiary information, seek policy modifications, and file claims and processing through the portal, which would otherwise take weeks owing to siloed lines of business. The platform also allows automated workflows that are triggered by specific consumer activities and directed to the appropriate departments, with customers being notified via email or message.
- Enterprise Product Configurator (EPC)
It reduces the time to market for insurance and takaful products. It is built to rapidly set up product rates, illustrations, validation engines, as well as an automated testing module that allows quick product deployment.
- Multi-channel Distribution Management Solution (McDMS)
For general agencies, IFAs, brokers, Agency Leader Corporations (ALCs) to simplify operations by consolidating their diverse requirements. With built-in performance management and compensation computation, its clients have seen improved sales with reduced administration costs.
u12know: Offering Financial Advice On a Variety Of Topics
According to Kevin, most millennials in the Asia Pacific do not understand financial planning and frequently max out their credit cards and go into debt. Therefore, there is a need to educate them on their financial goals and offer products that they can buy online. The visionary leader believes that the introduction of u12know will become a revolutionary information site that provides guidance on lifestyle, financial, and (in the future) health goals. This will assist them in identifying their needs and developing a strategy to help them achieve their lifestyle and business financial goals. This will be translated into the local language for each country.
In addition, 121Advisor recently launched u12know in Malaysia, which offers financial advice on a variety of topics (for single, married, family, retired & my business). This will be continually expanded to cover lifestyle financial goals as well as financial and business product recommendations, including its 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.
The Future Roadmap
121Advisor started to grow the business by including ALCs with N-Tier options and now has grown to 20+ companies. Plus, it is opening up Singapore & Indonesia and will expand to Europe & the USA in the coming years.
The year 2022 is going to be big and exciting for 121Advisor. Kevin has set milestones for 2020, and that is to include (MyTVO) My Total Vehicle Ownership, where the company is including workshops, spare parts, etc.