Over the past few years, Fintech or Financial Technology has radically changed the way several businesses and organizations manage their financial attributes. This has resulted in the increasing emergence of several Fintech companies that are making financial services more accessible to the general public. Moreover, the introduction of cutting-edge technological advancements, such as blockchain and cryptocurrency, has further facilitated the functioning of these fintech companies.
Today, several fintech companies around the world are deploying leading-edge technological features to provide enhanced financial services and solutions. Offering cost-effective solutions, One Two One Advisor (121 Advisor) seeks the latest technology and evaluates how they can be effectively applied to Insurance, Takaful, and Financial Services. The company provides empowering solutions with robust, innovative technology enabling generation of quality leads, secure sales, building customer loyalty in a professional and regulatory compliant manner.
One Two One Advisor is the brainchild of Kevin Steer (CEO and Founder). Being a tech enthusiast or ‘techie’, Kevin has profuse expertise in ideating disruptive solutions for the continuation of the business. Being at the company’s forefront, Kevin constantly contributes to the company’s immense growth and success, while nurturing the organizational goals and values.
During a recent conversation with Mirror Review, Kevin briefed regarding his professional journey and the prominent services and solutions offered by One Two One Advisor while speaking about the company’s future plans. Following are some snippets from the intriguing conversation.
Can you walk us through your professional journey? What factors piqued your interest in AI technology?
I graduated from Cambridge University in 1978 and then worked for a company Schlumberger (in Brunei, Australia, Indonesia, and China) for 5 years. Watching the evolution of IT, I pursued my Masters in Computing at Imperial College in 1986, where I focused on Artificial Intelligence. I further moved over to Malaysia for implementing solutions on Insurance and Banking where we were able to procure business in China, India, Thailand, and Indonesia.
As a techie, I have always been seeking new disruptive solutions to continue evolving the business. I have developed database table designs. In 1986, I was working for an Artificial Intelligence company and that piqued my interest in AI.
When was One Two One Advisor established? What are the prominent services and solutions offered by the company?
One Two One Advisor Sdn Bhd was established in 2010 in Malaysia. We focus on FinTech & InsurTech solutions and have grown the business to over 20 companies in Malaysia. We are offering disruptive solutions for several aspects. These include Referral Management with Marketing Automation by Banks, Mobile Point of Sales, Online Direct Selling, Online Claims, Agency Distribution, and Online Customer Service Portals and Corporate Websites. With the growth of AI and chatbots, we have also implemented disruptive solutions. These include multilingual Chatbots and Robo Advisors along with AI-based Predictive Analytics / Machine Learning for predicting New Products, Lapsation, Fraudulent Claims, and future predictions for Investment Funds.
What measures do you incorporate to ensure optimum client satisfaction?
We incorporate the following measures for ensuring optimum client satisfaction
- Predictive Analytics with Machine Learning
Used for predicting new products to buy, churns and lapsation, underwriting, and others.
- Multi-lingual Chatbot for Financial, Insurance & Takaful (FITbot)
Multi-lingual Robo Advisor is 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)
It is a 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, track, and manage lead referrals and conversions based on user-defined workflows.
- 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.
- Takaful and Insurance Mobility Made Simple (TIMMS)
TIMMS is a mobile straight-through solution designed specifically to cater to the need for mobility on Point-of-Sales for Insurance, Takaful, and Financial Services. It is uniquely designed to support cross-platform such as iOS, Android, and Windows platforms (desktop and tablet).
- 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.
- Takaful & Insurance Mobility Made Simple (TIMMS)
A cross-platform mobile point of sales solution allowing agents to identify the financial needs of clients via Customer Fact Find, recommend products, make presentations, generate quotes, and e-submit applications, in a regulatory compliant process.
- Customer Service Portal
It is an on-demand access point enabling the customer to view their insurance/takaful account, anywhere and anytime. It enables the policyholders to view their policies and certificate details via a simple internet connection
- Enterprise Product Configurator (EPC)
EPC reduces the time to market for insurance and takaful products. Built to rapidly set up product rates, illustrations, validation engine as well as an automated testing module allows quick product deployment.
- Multi-channel Distribution Management Solution (McDMS)
For general agencies, IFAs, brokers, Agency Leader Corporations (ALCs) is an N-Tier solution to simplify operations by consolidating their diverse requirements.
What are the upcoming trends anticipated by your company?
We have recently launched a new knowledge portal that provides lifestyle advice on Financial Planning and Health and Wellness. Millennials do not understand their financial needs and seem to be in debt. We have developed various health calculators and will be implementing a “Total Health Score” solution in the future. In the future, we will also roll out the Financial Planning Goals (Loans, Retirement, Medical, Child Education, Critical Illness) based on a person’s Lifestyle (Single, Married, Young Children, Grown Children, Retired). These Financial Goals are mapped to the person’s lifestyle. This Knowledge Portal has grown to more than 5,000 users.
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