Awarathon got featured in Entrepreneur magazine as 26 creators - Read more

Transforming Insurance Sales Training and Boosting Skills with Generative AI

Transforming Insurance Sales Training with Generative AI: Boosting Skills, Knowledge, and Performance.

Introduction

  • TATA AIA is India’s number 1 insurance company that ranks 6th globally, known for its strong reputation.
  • Operates across 18 markets in the Asia-Pacific region, showcasing extensive expertise.
  • Offers a range of solutions, including life insurance, savings, wealth management, and retirement planning, tailored to customer needs.

Challenges

  • Requirement of platform that supports regional languages to improve understanding of agents from various regions of India. 
  • Equipping insurance agents with comprehensive product knowledge is challenging; however, it is essential for managing a vast product portfolio.
  • Agents struggle to handle complex objections and queries from customers, consequently leading to dissatisfied clients. 
  • Requirement of effective training of reps in remote areas. 
  • Difficulties for managers in tracking reps’ progress for identifying areas that need improvement

Approaching the solution

  • Awarathon’s multilingual capabilities, therefore, enabled agents to practice and learn in their preferred regional language.
  • The platform’s AI personas simulate calm, angry, and distracted customers enabling insurance agents to effectively handle customer objections and queries. 
  • On-the-go training solutions allowed agents to train anytime, anywhere resulting in consistent learning across different demographics.
  • Improved product knowledge through continuous practice with interactive content, quizzes, and video roleplays. 
  • Managers can track reps’ progress using detailed reports and, as a result, identify strengths and areas for improvement to provide targeted support.

Difference made

  • 10% improvement in revenue generation within 4 months. 
  • 20% improvement in scores before and after training
  • The trained group’s overall scores on various skills were 35% higher than the untrained group.  
  • 40% improvement was observed in product knowledge and communication skills of trained insurance agents. 
  • 25% reduction in at-risk agents within three months.