One of the largest insurance groups in Asia, Sompo Holdings, is turning to AI to help its field sales teams spend less time consulting and updating customer information on databases, and more time building relationships with actual customers.
The Japan-based insurer announced that it has partnered with Vymo to use the company’s AI-powered, mobile-first sales assistant technology to boost the efficiency and productivity of its agents. The agreement follows a successful pilot project between the two companies that was launched in September.
Vymo demonstrated its Intelligent Personal Sales Assistant technology at FinovateAsia 2018. The app uses contextual intelligence and proactive sales coaching to automatically detect the sales representative’s actions and provide guidance on the optimal next steps to improve outcomes. In addition to leveraging dialler and client integrations and geo-intelligence to automatically log sales activity such as calls, emails, and meetings, Vymo learns from the success of the best performing sales professionals to help others on the platform determine how to better prioritize leads and best engage customers.
“At a leadership level , Vymo enables decision-makers to understand where should the sales and development efforts be,” Anurag Srivastava, Vymo VP-APAC explained last year during his FinovateAsia technology demonstration. At a manager level, he added, the technology solution helps them understand what the sales people are doing on a daily basis, as well as how they can constructively intervene to help them to become better. Srivastava noted that the solution also makes life easier for sales professionals, helping them meet their numbers and “gain predictability into what they are doing.”
Vymo earned a finalist spot in the India FinTech Forum’s IFTA 2019 awards last month. This fall, the company partnered with ABeam Consulting in a move that will help Vymo further expand into Asia-Pacific and Japanese markets. Also this fall, Vymo teamed up with FE Credit, the consumer lending arm of VP Bank to help the Vietnam-based financial institution improve customer acquisition, lead generation, and onboarding. Vymo raised $18 million in funding earlier this year, taking its total capital to $22 million
More than 100,000 sales professionals in 50+ businesses use Vymo’s Intelligent Personal Sales Assistant technology. The company notes that its solution has helped sales teams experience a nearly 2x increase in productivity and sales gains of 30%-50% within the first three months of deployment.
Yamini Bhat is Vymo co-founder and CEO. Founded in 2013, the company is headquartered in New York City.