IPRU Edge drives ICICI Prudential's agent productivity by 37% in H1FY25

ICICI Prudential Life Insurance has witnessed a 37 per cent increase in agent productivity, resulting in higher earnings for the firm in the first half of financial year 2024-25 (H1FY25), owing to IPRU Edge, a comprehensive 'Advisor Stack' offered by the private life insurer.

 

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. Nearly 61 per cent of the life insurer’s top-tier advisors are now active users of the stack.

 

According to the life insurer’s press release, advisors using IPRU Edge have shown a 37 per cent increase in productivity and a 49 per cent year-on-year (Y-o-Y) growth in the contribution of the agency channel towards the retail weighted received premium in H1FY25.

 

Srinivas Balasubramanian, chief of product and marketing at ICICI Prudential Life Insurance, said, “The Advisor Stack or IPRU Edge gives our advisor network access to powerful tools and features that help them grow their business by enabling them to focus on revenue-generating tasks instead of administrative activities. The stack aids advisors in logging new business, providing lead opportunities, generating demand, and delivering customer service, to name a few options.”

 

IPRU Edge serves as an office on-the-go, enabling agents to focus their efforts on new customer acquisitions rather than administrative activities. Agents gain access to new business leads, generate demand through social media, and provide best-in-class customer service. Additionally, it enables them to view their business and earnings. The support provided by IPRU Edge positions the company as the best life insurer for advisors to partner with.

 

The advisor stack, embedded with optical character recognition (OCR) technology coupled with real-time know-your-customer (KYC) authentication, facilitates a paperless buying journey, leading to increased efficiency. This is particularly beneficial for agents in smaller towns and villages, as it enables them to provide a hassle-free experience for customers.

 

Srinivas added, “During the same period, the 13th- and 25th-month persistency ratios of advisors using IPRU Edge were 91.7 per cent and 89.6 per cent, respectively. This is higher compared to the overall agency channel’s 13th- and 25th-month persistency ratios, which were 90.0 per cent and 86.7 per cent, respectively.”