121Advisor was founded in 2010 by Kevin Steer, the company’s founder and CEO. He is a “techie” and advises his team on InsurTech and FinTech as a founder. Kevin creates database designs and discusses them with his team. Based on their comments, he tweaks the database and adds more fields to the tables.
One Two One Advisor was founded to serve both the FinTech and InsurTech industries. Referral Management with Marketing Automation (for Banks), Mobile Point of Sales, Online Direct Selling, Online Claims, Agency Distribution, Online Customer Service Portals, and Corporate Websites are just a few of the innovative online solutions the firm has deployed in the last 11 years. 121Advisor implemented disruptive solutions such as multilingual chatbots and Robo Advisors, as well as AI-based Predictive Analytics and Machine Learning for predicting new products, lapsation, fraudulent claims, and future predictions for investment funds, in response to the growth of AI and chatbots.
The services include:
- Predictive Analytics with Machine Learning:
Using this for predicting new products to buy, churns and lapsations, underwriting, etc.
- Multi-lingual Chatbot for Financial, Insurance, and Takaful (FITbot)
Multi-lingual Robo Advisor and a chatbot that utilises hybrid trees and natural language processing (NLP) to engage with customers to offer a more personalized customer experience and generate more referrals.
- Web Portal Solution for Sales & Servicing (WebPoS)
Multi-lingual mobile responsive websites and portal solutions to enable clients to experience a unified, personalized digital experience where content, sales, marketing, and work management are consolidated instead of siloed.
- Referral Management & Marketing Automation (ReMMA)
It is used by banks to effectively and efficiently auto-assign leads, track, and manage lead referrals and conversions based on user-defined workflows. Marketing automation results in personalized content delivery, targeted campaigns and engagement.
- Sales Activity Mobile App (SAMA)
It allows agents to effectively plan and manage sales activity to ensure all leads and prospects are addressed. Managers can monitor in real time and provide assistance as needed.
- Community & E-worksite Marketing & Distribution (CeMD)
This community portal solution allows organizations to engage with members of their community to nurture trust and create advocates, thereby improving customer retention. The company recently launched the u12know knowledge portal.
- Takaful & Insurance Mobility Made Simple (TIMMS)
A cross platform mobile point of sales solution allowing agents to identify client financial needs via Customer Fact Find, recommend products, make presentations, generate quotes and e-submit applications, in a regulatory compliant process that includes solutions for IOS, Android, and Windows.
Customer Service Portal
The Customer Self Service Portal is an on-demand access point enabling customers to view their insurance/takaful accounts anywhere and anytime. This enables the policyholders to view their policies and certificate details via a simple internet connection. The portal provides a safe avenue for customers to update their personal information, pay premiums, switch funds, print documents, update beneficiary details, request policy changes, and engage in filing claims and processing, which traditionally would take weeks to be executed due to siloed lines of business. The platform also supports automated workflows that are triggered by certain customer activities, which are routed to relevant departments, and customers are kept informed via emails or messaging. By providing a portal for your customers with the convenience of self-servicing, customers can enjoy the freedom of doing what’s convenient for them, when they want, anywhere.
- Enterprise Product Configurator (EPC)
Reduce the time to market for insurance and takaful products. Built to rapidly setup product rates, illustrations, and validation engines, as well as an automated testing module, allows quick product deployment.
- Multi-channel Distribution Management Solution (McDMS)
For general agencies, IFAs, brokers, and ALCs (Agency Leader Corporations) to simplify operations by consolidating their diverse requirements. With built-in performance management and compensation computation, our clients have seen improved sales with reduced administration costs.
Getting Large with Every Challenge
121Advisor’s problems, according to Kevin, were developing new solutions and making them available to clients. 121Advisor complies with all regulatory requirements and tests new solutions every year to assure compliance. 121Advisor’s staff implemented a number of items and made them available to clients who had approved the company’s solutions.
121Advisor now employs 35 employees and McKinsey & Company’s book “Valuation: Measuring and Managing the Value of Companies” is in its 7th edition. Its firm has grown to over 20 organizations, and it is receiving more service requests from clients to deploy additional solutions. These companies include AIA, AIG, Manulife, FWD Takaful, Zurich Takaful, Sunlife Takaful and other companies.
A Step to Bring Awareness
121Advisor created the u12know knowledge site in 2020. (www.u12know.com). Because most millennials in Asia Pacific do not understand financial planning and frequently max out their credit cards and go in debt, there is a need to educate them on their financial objectives and offer items that they may buy online.
It rose to 5,000 users after the debut of u12know. The team at 121Advisor believes this will become a revolutionary information gateway that offers advice on lifestyle, financial, and future health objectives. Kevin says, “This will help them understand their needs and create a plan to help them build their lifestyle and business financial plans. For each country, this will be translated into the local language. We have created a number of health calculators and will soon be launching a “Total Health Score” to assess whether they are very healthy, healthy, at risk, or in critical condition.”
Heading for Constant Growth
121Advisor is expanding its company, and its services will soon be available in Singapore and Indonesia. The company plans to deploy u12know in a number of Asian nations (using multilingual translations), as well as in the United States and Europe.
121Advisor is trying to develop u12know in multiple nations, and its long-term aims include expanding its business to incorporate online insurance and bank loan sales. Kevin’s advice to budding entrepreneurs is to define their solutions. He says, “To create an investor pitch (no more than 12 slides) and create a financial plan to grow the business.”
