Transforming global insurance sales with advanced AI

A global investment firm, managing over $1 trillion in assets across 30+ countries , faced inefficiencies in existing sales processes. The firm offers a range of financial products, including equities, fixed income, and multi-asset solutions. The sales team needed fast, accurate insights to make informed decisions, but scattered information slowed productivity.

Recognizing the need for advanced technology, the firm partnered with us. They wanted to build an AI platform that could be integrated with the existing CRM systems and data platform to automate pre and pro sales activities and provide actionable insights from the underlying data. This would allow teams to focus on high-value tasks and make more strategic decisions.

There were a few challenges linked to inefficient information management and manual processes:

Information overload

Data, both structured and unstructured, was spread across sources. This made the retrieval of valuable insights difficult, slowing decision-making and reducing sales teams’ productivity.

Time-consuming manual processes

Repetitive tasks like advisor prioritization and planning for upcoming meetings consumed significant time. The team took time to collate information from different sources like product details, advisor’s recent trends and performance, action items from last conversation etc. before they could plan their next meeting.

Sales support limitations

Sales teams spent too much time preparing dossiers, limiting client engagement and reducing sales efficiency.

These challenges were not unique to the firm but were worsened by the scale of its global operations and vast data volumes. The lack of personalization in existing systems further obstructed tailored insights for different departments.

We developed a suite of AI-driven applications to address these challenges, implementing the solution through an agile, phased approach. The project began with a Proof of Concept that demonstrated the value of Generative AI (GenAI) in key operational areas.

What we delivered:

An agile AI solution

● AI-powered query response system: This system enabled teams to retrieve real-time insights from both structured and unstructured data sources. It significantly reduced the time spent searching for relevant information.

● Automated document retrieval: A tool was developed to search and retrieve documents based on metadata, context, and specific queries, streamlining the data retrieval process across departments.

● Sales support automation: AI-driven applications were introduced to automate the creation of dossiers and prioritize advisor outreach. This empowered the sales team to focus on high-potential clients, leading to more meaningful interactions and improved business outcomes.

The solution was built on the Azure cloud platform, ensuring seamless integration with the client’s existing systems. Fractal’s AED framework and AI-first mindset made it uniquely positioned to deliver a solution that not only addressed immediate challenges but also allowed for scalability as the firm’s needs evolved.

The AI-powered solution delivered significant benefits to the client, both immediately and over time:

Immediate benefits

Operational efficiency

• AI tools reduced the time spent on manual data processing, allowing teams to focus on strategic tasks.

Sales support improvements

• Automated dossier creation improved the sales team’s ability to engage with key advisors, enhancing their overall productivity.

Process
automation

• Manual tasks such as data reconciliation and report generation were automated, freeing up significant employee time.

Long-term impact

● Data-driven decision making: AI-enabled insights empowered the firm to make more informed decisions, driving better business outcomes.

● Scalability and flexibility: The modular design of the AI solutions allowed the firm to scale and adapt as business needs evolved.

● Sustained cost savings: By automating key processes, the firm saw significant cost reductions, including savings on workforce time and operational overheads.

● Competitive advantage: Through the use of advanced AI, the firm positioned itself as an innovation leader in the financial services sector, gaining a strategic edge.