ICICI Pru Edge – the ‘Advisor Stack’ of ICICI Prudential Life Insurance leads to 37% growth in agent productivity

Chandigarh, November 29, 2024: IPRU Edge, a comprehensive ‘Advisor Stack’ offered by ICICI Prudential Life Insurance has led to a 37% increase in its agent productivity in H1-FY2025, resulting in higher earnings for them.
 
The ‘Advisor Stack’ empowers the Company’s advisor network of over 2 lakh agents to efficiently grow their business, manage operations and deliver an enhanced customer experience. Notably, ~61% of the Company’s top tier advisors are now active users of the stack, cementing its role as a key enabler of business success for them.
 
IPRU Edge, serves as an office on-the-go, enabling agents to focus their efforts on new customer acquisitions rather than administrative activities. Agents get access to new business leads, generate demand through social media and provide the best-in-class service to customers. Also, it enables them to view their business and earnings. The support provided by IPRU Edge positions the Company as the best life insurer to partner with for advisors.
 
The advisor stack, embedded with OCR technology coupled with real-time KYC authentication facilitates a paperless buying journey leading to increased efficiency. This greatly helps agents based in smaller towns and villages since it enables them to provide a hassle-free experience to customers.
 
Srinivas Balasubramanian, Chief of Product and Marketing, ICICI Prudential Life Insurance, said, “The Advisor Stack or IPRU Edge gives our advisor network access to powerful tools and features that helps them grow their business by enabling them to focus on revenue generating tasks instead of administrative activities. The stack aids advisors to login in new business, helps them with lead opportunities, demand generation, customer service to name a few options.
 
We are delighted to state that advisors using IPRU Edge have shown in a 37% increase in productivity and a 49% year-on-year growth in the contribution of the Agency channel towards the retail weighted received premium in H1-FY2025.
 
We are the first life insurer in the country to pay out commissions on the same day to select advisors. Notably, 98.1% of the eligible agents using IPRU Edge were paid commissions on the same day.
 
To become the most distributor-friendly life insurer, we have implemented technology solutions which have enabled us to issue approx. 50% of policies on the same day for the savings line of business in H1-FY2025.
 
The advisor stack also allows agents to carry out various customer service transactions which provides convenience to customers and facilitates agents to build strong long-term relationships.”
 
Srinivas, concluded, “In the same period the 13th and 25th month persistency ratios of advisors using IPRU Edge was 91.7% and 89.6% respectively. This is higher compared to the overall Agency channels 13th and 25th month persistency ratios which were 90.0% and 86.7% respectively.
 
We believe the success of IPRU Edge is a key milestone in the Company’s journey towards providing its advisors with the best-in-class tools and technology to thrive in an industry with unmet insurance needs.”