- Transforming the role of the agent into supercharged advisors can help financial services serve a predominantly digital consumer class.
- There is an opportunity to improve financial well-being by developing a partner ecosystem to bundle financial products with value-added services.
JAKARTA, Indonesia, June 15, 2022 /PRNewswire/ -- Vymo, a Gartner-recognized leader in sales engagement solutions for financial services, published a study highlighting Indonesia's digital sales & distribution workforce trends as the financial service industry returns to a state of normalcy.
The report, titled 'New Realities of Customer Personalization in Financial Services', also outlines the various challenges financial institutions must overcome to serve the new demographies, and how banks and insurers need to upgrade existing engagement strategies to best serve their end customers.
According to Indonesia's Financial Services Authority OJK, "Industrial revolution 4.0 is about digital transformation. The revolution demands banks to adapt and conduct changes." The report analyzes how:
- 73% of consumers say a differentiated experience, not just an acceptable experience, is what it takes for a customer to remain loyal;
- Leading banks and insurers will use relevant and responsible personalization as a key differentiator to create loyal clients;
- Dedicated advisors will be responsible for creating stronger brand loyalty for customers.
Financial service institutions will need to build a salesforce that can adapt, attract and retain the loyalties of Indonesia's digital-savvy consumer class with considerable spending power.
"Previously, lifestyle insurance was based on life stages. Someone starts a family, you talk to them about the increased cover they need. They change their jobs, there's a salary hike, you advise them to set aside a part as insurance. But today, you can't meet them in person. Here's where technology enables remote engagement with customers," says Rajesh Sabhlok, Managing Director - Asia Pacific of Vymo. "You read the digital footprint of the customer, analyze it, and make it prescriptive for the advisors to engage and sell more."
While the quality of financial products and services from data utilization has improved significantly, customer expectations in terms of product relevance, personalized buying experience, and post-sales support are key differentiators in the digital landscape. Vymo's report breaks down how banks and insurance companies can leverage these differentiators to create a loyal client base.
For more information on how Indonesia's digital workforce is evolving and to download the full version of the report for free, visit https://info.getvymo.com/future-of-workforce-indonesia.
Vymo is the Sales Engagement Platform of choice for 65+ global financial institutions, including AIA, Berkshire Hathaway, BNP Paribas, AXA, Generali, Sunlife, and FE Credit. Vymo helps improve sales outcomes through bottom-up insights and interventions. Vymo is recognized by Gartner® as a Representative Vendor in the Sales Engagement Market Guide and is funded by Bertelsmann India Investments, Emergence Capital, and Sequoia Capital.
For more information, visit www.getvymo.com.
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