Thanks to the application of modern technology, since July 2024, FWD Vietnam Life Insurance has introduced a new insurance consulting process, scoring points for its transparency and ensuring information authentication. Accordingly, FWD has established very detailed and clear steps in the insurance consulting process, completely on an online platform. The process requires the Financial Consultant to accompany and guide customers through all the steps from filling in information, creating a benefit illustration table, confirming information, to submitting an insurance application.

Improved financial advisor identification through voice samples

As a bridge between insurance companies and customers, the professionalism and dedication of the financial consulting team is a decisive factor in the customer experience for the business in particular and the life insurance industry in general.

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Identifying financial advisors through voice is an innovation that contributes to improving the professionalism of the team and the customer's peace of mind about the quality of the consultation. Photo: FWD

At FWD, identifying financial consultants through voice is an innovation in the new insurance consulting process. This is the process in which financial consultants record their voice through an integrated artificial intelligence system, using Voice Biometrics (Voice Biometrics Technology) to analyze and identify voice samples according to each financial consulting code. This authentication contributes to improving the professionalism of the team, ensuring the identity of the financial consultant during the insurance consulting process. As a result, customers can be more assured about the quality of the consultation, ensuring accurate and transparent information according to FWD's standards. In addition, this innovation helps the financial consulting team focus more on developing professional expertise and building a professional working style, thereby achieving high customer trust.

Strict quality control with insurance consultation recording step

Another new point in the consulting process of FWD Vietnam Life Insurance is the step of recording the insurance consulting content between the Financial Consultant and the customer when learning about investment-linked insurance products.

By applying Auto Speech Recognition technology, Natural Language Processing technology and other modern technologies, FWD's system automatically checks the Financial Consultant's sample voice, records and displays the recording content between the Financial Consultant and the customer, and automatically evaluates the recording content to manage the quality of the consultation session. In case the system cannot identify the Financial Consultant's voice or the conversation content is not in accordance with the prescribed steps, the insurance consultation process will stop. This requires the insurance consultation to go through all the content, ensuring that the customer has access to and fully confirms the information.

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The recording step requires the consultation to go through all the content, ensuring that the customer has access to and fully confirms the information. Photo: FWD

In addition, FWD also expanded the application of other modern technologies such as OCR (optical character recognition technology), Face matching (facial recognition technology), Liveness Detection (real person recognition technology), Fraud Detection (technology to detect and prevent fraud cases) in the Electronic Customer Identification (eKYC) solution that the company had previously deployed.

Enhance the insurance consulting process with AI

Technology is considered the foundation of transformation in the insurance and finance sector in the world as well as in Vietnam. Standing out in the market today is FWD Vietnam Life Insurance with its strategy of prioritizing the application of technology to improve the quality of insurance consulting processes and bring customers more convenient experiences.

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FWD began its AI journey in 2019 and currently has nearly 200 AI models in use across the group, with more than 600 AI use cases deployed in real-world scenarios. By the end of 2023, FWD had migrated 97% of its applications to the cloud. In addition, the consecutive signing of long-term partnerships with two technology giants, Amazon Web Services (AWS) and Microsoft in 2024, demonstrates FWD's strategy of investing heavily in technology.

Beyond the benefits of ensuring the quality of insurance consulting and developing a team of professional financial consultants, the efforts in improving the insurance consulting process of FWD and many other insurance companies are considered a long-term step of the life insurance industry in the journey to improve the quality and trust of Vietnamese customers.

Lan Nhi