Case studiesSBI
Revolutionizing Insurance Sales with AI Roleplay and Skill Enhancement
SBI Life Insurance is one of India's leading life insurance companies, offering protection, savings, pension, and health solutions to millions of customers.
2x
Improvement in insurance agents' product knowledge
96%
Adoption rate across 17 regions
30%
Reduction in new agent onboarding time
Table of content
Introduction
- SBI is one of the most trusted life insurance companies. It was started in 2008.
- It strives to make insurance accessible to all with the help of its large network of 4000+ employees and 2,50,000+ agents.
- It offers diverse products catering to individuals and group customers through Protection, Pension, Savings, and Health solutions.
Challenges
- Difficulty in tracking the sales team’s performance across different regions.
- Challenges in tracking the competency of sales teams under each manager.
- The need for a multilingual platform arises as many sales reps use local languages for their pitches.
- Tracking and enhancing insurance agents’ product knowledge is challenging due to policy complexity.
- Need for a roleplay platform that integrates with the existing LMS.
- A practice platform that enables continuous practice for skill development is required.
- Difficulty in training sales reps to handle customer queries and doubts effectively.
Approaching the solution
- The Multilingual platform enabled insurance agents to pitch in various languages, addressing diverse linguistic needs.
- A realistic practice platform was provided that allowed continuous practice for skill development.
- Awarathon enhanced insurance agents’ product knowledge with interactive modules tailored for complex policy details.
- It integrated AI video roleplay with existing LMS platforms.
- Enhanced objection-handling and probing skills with accurate simulations improved the ability to handle the customers.
- Various dashboards allowed managers to track their team’s performance.
Difference made
- There was a 2x improvement in agents’ product knowledge.
- A significant increase in confidence was observed in sales reps after using the platform.
- Due to multilingual platforms, adoption rates rose by 96%, with reps practicing across 17 regions.
- Managers received insights into knowledge and skills gaps, enabling targeted training.
- Onboarding time for new reps was reduced by 25-30%, accelerating their integration.
