Ann: Flamingo Update, page-3

Great update. Nationwide must be true believers in the Flamingo platform to base their sales strategy on it. Traditionally, financial and insurance products have been sold in majority via 2 channels - advisers and direct. Online sales is a new channel that financial services including the big 4 are exploring and hope to contribute to around 10-20% of the revenue in the next 12-24 months. The problem that Rosie will solve is the whole interactive experience when a customer is in fact finding stage of the sales process. Stats show that in Australia - 3 out of 10 people who actually start an online process to buy a financial product actually end up going through the whole process as it gets too tedious - forms to fill, so much legal jargon and no one to guide you through the journey. Rosie will offer a better customer experience while they are embarking on their journey.
Also, don't forget this will be a snowball effect- companies cannot afford to be left especially when big players like Nationwide are leading the race in terms of exploring the digital sales channel. Very positive update !