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Learning Delivery - Agency Transformational Model
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Learning Delivery - Agency Transformational Model

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NIIT’s agency transformational model for one of America’s leading insurers is impacting the bottom line of a smaller business line with strong, positive trends. …

NIIT’s agency transformational model for one of America’s leading insurers is impacting the bottom line of a smaller business line with strong, positive trends.

Published in: Technology, Business

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  • 1. Agency Transformational Model NIIT’s agency transformational model for one of America’s leading insurers is impacting the bottom line of a smaller business line with strong, positive trends.
  • 2. The business insurance product line had met with less than desired results. The company decided to revamp the product line with: • New and better products • An improved technology platform (Connexus) • Improved training
  • 3. The insurance major and NIIT collaborated to create a customized training solution to meet the business and performance goals of the product line.
  • 4. Goals BUSINESS GOALS Increase sales and revenue for the business line. Improve productivity of agents. PERFORMANCE GOALS Identify client needs. Identify and position appropriate solutions. Improve proficiency and comfort level with Connexus. Transact effectively to generate quotes, issue policies and service existing policies.
  • 5. Target Audience In-depth knowledge of business insurance products but struggles with Connexus. GLEN Is an expert at Connexus but finds business insurance complex. CASEY Not well-versed with Connexus or business insurance. ADRIANA
  • 6. The Solution Agency Transformational Model
  • 7. Consultative Approach Business Intelligence Integrated Training Real – World Approach Tailored Training Delivery Feedback Loop Agency Transformational Model Pre-training interviews and surveys conducted with each agency to customize training • Product knowledge • Process training • Connexus platform workflow • Customer Interaction skills • Preparing actual system quotes • Work on existing policies • Role Plays • Best Practices and demos • Hands-on sessions • Post-training interviews as feedback loop to: • Identify follow-up training steps • Build business intelligence for performance support • Individual Mentoring • In-agency training for top agencies • Group and regional training including virtual • Prioritize high frequency and high impact product knowledge • Leverage existing business intelligence
  • 8. Solution Components AGENCY TRAINING TOOLKIT TRAINER ON-BOARDING IN AGENCY TRAINING REGIONAL TRAINING ONGOING SUPPORT ENGAGEMENT MANAGEMENT • Prioritized Call Types • Existing Content • Any New Content • Select 9 trainers • Training & Shadowing • Train the Trainer • 178 Agencies • Consultative & Customized Training • Product Training • System Practice • Gather Business Intelligence • Webinars • Group Events • Role Plays • Web Conferences • Job Aids • Post-Training Follow up call • Tip of the week • Success story emails • Monthly web events • FAQs • Single Point of Contact
  • 9. Implementation and Rollout • In-Agency Training : 178 in-agency training sessions of 4 to 6 hours conducted • Regional/ Virtual Training: Approximately 2500 people trained in 6 months by 3 people in regional and virtual training sessions which include about 315 webinars.
  • 10. The Result Business Impact and Feedback
  • 11. Feedback “She showed me where to find stuff and the tools and where to look stuff up. That was great. It used to be that whenever I wrote a quote, I had to call the help center, but she showed me where I could look information up for myself." “She did really a great job. I'm writing a quote in Connexus right now and she also helped me with another that I'm working on for next week.” “The training helped. It took me about an hour to do a couple auto quotes today, but this is a huge improvement because I couldn't even do it before.”
  • 12. “Jim was able to show me where to go to find things in the system that I knew needed to be there for the quote but that I couldn't find. He really helped me streamline some things.” “Some of the tricks that she showed me were awesome. I wish I had this (kind of training) for other programs.” “I got more out of that class than I ever have from any training you've done before. I have been here for 15 years. We need to have more training Like that.“
  • 13. Training Rating 4.6 4.7 4.7 4.6 Connexus expertise Product knowledge Trainer soft skills Overall effectiveness Actual Trainer Photos
  • 14. Recover Training Investment Business Impact: Strongly Positive Initial Results
  • 15. Performance Impact: Increase in Weekly Averages Increase in Weekly Average Premium 0.95% 1 Quarter after In-Agency Training for 178 agencies. Increase in Weekly Average Items 8.33% Increase in Weekly Average Quotes 9.88% Note: Revenue and productivity expected to trend up over time. Results based on initial sampling three months after training.
  • 16. Performance Impact: Percentage of Trained Agents Who Reported Increased Business Impact Agents reported an Increase in Weekly Average Premium 52.87% 1 Quarter after In-Agency Training for 178 agencies. Agents reported an Increase in Weekly Average Items 53.45% Agents reported an Increase in Weekly Average Quotes. 56.9% Note: Revenue and productivity expected to trend up over time. Results based on initial sampling three months after training.
  • 17. Trained vs. Untrained Agents Performance in 1 Quarter -20.00%-10.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% % Difference in Weekly Average Items % Difference in Weekly Average Premium % Difference in Weekly Average Quotes % of Total Agents who reported an increase in Items % of Total Agents who reported an increase in Quotes % of Total Agents who reported an increase in Premium Untrained Agents Trained Agents
  • 18. Quarterly Increase in Weekly Average Premium for Trained Agents 0 2 4 6 8 10 Quarter 1 Quarter 2 0.95 8.06 Weekly Average Premium Percentage Increase
  • 19. Summary Note: Revenue and productivity expected to trend up over time. Results based on initial sampling a quarter after training. Measurable Goals Solution Approach Results Increase sales and revenue for product line Agency transformation al Model 0.95% increase in weekly average premium generated by trained agents post training – 0.95% more than their untrained peers in the first quarter of the post-training period. 8.06% increase in weekly average premium for trained agents in quarter 2. 52.87% trained agents reported an increase in premium - 14.84% more than their untrained peers in the first quarter of the post- training period. Improve productivity of agents Agency transformation al Model 53.45% agents reported an increase in Items post-training – 13.88% more than their untrained peers. 56.90% agents reported an increase in Quotes post-training – 22.85% more than their untrained peers in the first quarter of the post- training period. 8.33% increase in weekly average items generated by trained agents - 12.50% more than weekly average items generated by untrained agents in the first quarter of the post-training period. 9.88% increase in weekly average quotes generated by trained agents – 20.84% more than weekly average quotes generated by untrained agents in the first quarter of the post-training period.
  • 20. Thank you. Follow us on: www.facebook.com/niitels http://www.linkedin.com/company/1029832 www.niit.com