Tribal stories! Reliance Life Insurance goes social ! #bizsocialmedia #socbiz #ibmsocialbiz #ibmOctober 25, 2012
Reliance Life Insurance wanted to enable hyper-growth by building a ‘virtual office’ to accelerate the growth in their business. They designed a Lifeline social-portal that delivers services to all of Reliance’s key stakeholder groups: customers, prospects, employees, and agents. The portal provides customers with a one-stop experience through which they can research and purchase insurance plans, manage their portfolios and pay their premiums. Agents can use the platform to get a unified, cross-sectional view of customers’ portfolios and gain the insights to make intelligent cross-selling recommendations that provide optimal coverage for customers. So far they have reduced the time required to develop new services and features by more than 50 percent and reduced their customer/agent service costs nearly 50 percent. In addition, they have doubled market share since introducing Lifeline!