Banks and NBFCs distributing insurance carry a double burden: relationship managers need current product knowledge they rarely have time to maintain, and management needs evidence that every sale was suitable. The cost of getting it wrong is mis-selling risk on one side and lost fee income on the other. Smart Assurance is an insurance distribution platform built on ServiceNow that supports the bank’s side of bancassurance, from the initial lead through policy issuance and post-sales service.
Relationship managers can access current product information, compare products side by side and use rule-based eligibility matching to identify relevant options against configured criteria. Product parameters, features, coverage and pricing are managed within the platform so staff can work from a consistent source of information.
Smart Assurance supports the customer journey from benefit illustration and comparison through quotation, payment and policy issuance. Guided steps help staff gather the required information and maintain a clear record of the recommendation and resulting transaction.
The platform manages leads across email, SMS and WhatsApp and can connect with the bank’s existing CRM. A customer view links policies to the bank’s customer ID, giving staff a clearer picture of the relationship and existing coverage.
Specified person records and registers can be maintained within the platform. Configurable notifications support communication through email, SMS and WhatsApp, while management views show how leads and distribution activity are progressing.
Smart Assurance automates operational work after the sale, including endorsements, renewals and commission reconciliation. Tasks and records remain connected to the customer and policy journey, reducing reliance on separate trackers and manual follow-up.
Dashboards cover sales growth, targets, quote-to-close performance, product performance and retention. Complete audit trails record recommendations, decisions and activity, supporting review and compliance processes and giving management visibility of sales productivity and compliance.
Smart Assurance is designed for banks and NBFCs that distribute insurance products. It supports relationship managers, distribution teams, operations teams and leaders who need clearer control of the sales journey, product information and post-sales activity.
Relationship managers sell from current information instead of memory.
Recommendations, decisions and related activity are recorded in a traceable audit trail.
Post-sales work happens in the platform, not in side trackers.
We begin by assessing your existing distribution model, product structure, customer journey, systems and operational responsibilities. Measurable outcomes are agreed before configuration and integration work begins. Our consultants work alongside business, distribution, operations and platform teams through design, testing and release.
Right Prompt combines ServiceNow consulting and implementation with deep experience in financial services, including banking and insurance. Our team includes 75+ ServiceNow specialists with 700+ ServiceNow certifications and accreditations.
Find out how Smart Assurance could support your insurance distribution model.
