Novosol Aims To Gain Traction With Insurance And Banking Industry In Malaysia

KUALA LUMPUR, April 5 (Bernama) -- Singapore-headquartered, Novosol Sdn Bhd, aims to gain traction with the insurance and banking industry in Malaysia with its general purpose video customer engagement platform -- moLotus. moLotus is a proprietary technology that is interactive and helps customers respond quickly and easily via text, links, images or calls, leading to a one-to-one dialogue between the brand and customers. Novosol, in a statement, said Malaysia was its main market, contributing about 60 per cent of its revenues from clients across other industries. The company's current target were insurers and banks, however, other brands were welcomed to utilise its marketing services. According to recent data, Malaysia's direct marketing expenditure (SMS, email, printed and telemarketing) was more than US$1.7 billion. The company said it would soon launch a digital advertising platform -- the small and medium enterprises self-service facility. "moLotus is a scalable platform and this is a global opportunity, and we are in the midst of raising second round of funds to scale our sales and marketing efforts," the statement said. On its insurance industry repertoire, the technology enabled innovative mobile underwriting, which is a key task for insurers undergoing the process of issuing insurance by evaluating the risk and potential exposure of a customer. "moLotus is simplifying this process by engaging customers in an interactive sales process by illustrative product videos and visuals and giving out more information on a click," it said. Besides, moLotus also allowed easier instant document collection and delivery, through digital collection of pay slips, identity proofs and others. Novosol, with started business in Malaysia in 2011, has operations in India and Indonesia. Its clients in Malaysia include PruBSN Takaful, Tokio Marine, AIG, AIA, and Sun Life Malaysia. -- BERNAMA