Airwatch Agent

Hello Experts, hoping someone can give me a little insight into this bit of software.  I use my mobile device for work (BYOD) and in order to install an instant messenger application (Good) that ties into our mainstream corporate instant messenger application, I need to install the Airwatch Agent software on my mobile device.  I'm a little uneasy about this because of privacy reasons.  Can that software application allow administrators access into my device.  Give access to websites visited as well as access to the gallery, etc?  Basically, would they have full run of my cell phone if I installed this?  Thanks.