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Lessons from implementing Salesforce Industries / Vlocity in Insurance, Jiří Krám

  1. Salesforce Industries – Insurance Intro for Architects & Developers by Jiří Krám, Accenture
  2. #CD22 - 17 years experience with Salesforce - Specialty: Financial Services (Banking & Insurance) - Core focus: Cloud & Multi-cloud architecture Jiří Krám My position: Manager, Accenture
  3. #CD22 Content Salesforce vs Salesforce Industries  Salesforce Financial Services Cloud for Insurance Salesforce Industries – Omnistudio (Shared across all industries)  Omnistudio – FlexCard  Omnistudio – OmniScript  Omnistudio – Integration Procedure  Omnistudio – DataRaptor  Omnistudio – Calculation Procedure & Calculation Matrix Salesforce Industries – Insurance (Core modules)  Insurance – Product Catalogue  Insurance – Quote, Rate & Apply  Insurance – Policy Admin  Insurance – Contract & Enroll  Insurance – Billing & Payments  Insurance – Claims & FNOL Salesforce Industries - Lessons learned (Q&A)
  5. #CD22 Salesforce vs Salesforce Industries Salesforce  Generic data model / requires building custom objects  Integration has to be developed custom  No pre-built industry specific processes  No product catalogue, no embedded industry standards  Flows – generic requires customization per industry Salesforce Industries  Industry data model / reuse standard objects vs building own  Optimized for integration with industry specific backend systems  Pre-built common industry specific processes  Product catalogue optimized per industry standards  Omnistudio – Guided omnichannel flows
  6. #CD22 Salesforce Insurance (High level view)
  7. #CD22 Salesforce Insurance – Building Blocks Salesforce Financial Service Cloud – Insurance  Insurance specific data model / standard objects  Insurance 360 customer view  Bridge between Salesforce core (Sales, Service, Marketing) and SFI (Industries) Salesforce Industries – Insurance  Extends FSC Insurance and Salesforce (Sales / Service) data model  Pre-built insurance specific processes and objects extending FSC  Modular architecture: Quoting, Rating, Policy Admin, Claims, FNOL  Insurance specific product model: Insured item, Insured party, Coverage
  8. #CD22 FSC Insurance – Data Model
  9. #CD22 When to use what? Salesforce Financial Service Cloud Insurance  You want to build Insurance CRM (Customer 360, Marketing, Generic service)  You don’t want to do product & policy related tasks: Manage policies, Quoting, Rating, Claims, FNOL Salesforce Financial Service Cloud Insurance + Industries  You want to build Insurance Applications (Quoting, Policy Admin, Claims Management)  You want insurance product model with all building blocks (product specs, insured items, insured parties, coverages, rating facts…etc.)  You need to create & manage insurance rules (underwriting, rating, claims)
  11. #CD22 Omnistudio – layered architecture
  12. #CD22 FlexCard • Graphical Data Presentation and Launch Framework • Dynamic Presentation with Multiple Cards & Card States • Integrated with Vlocity Actions for Dynamic Link Generation • Ability to Fetch Data Independently from Salesforce, REST or Custom Data Sources • Deployable to Console, LEX, Community, Mobile & External Web
  13. #CD22 OmniScript
  14. #CD22 Integration Procedure
  15. #CD22 DataRaptor + IP + FlexCard + LWC
  16. #CD22 DataRaptor + IP + OmniScript
  17. #CD22 Calculation Matrix & Procedure
  19. #CD22 Salesforce Insurance (FSC/FSI)
  20. #CD22 Product Catalogue • Innovation-Driven Product Catalog Supports Coverages, Insured Items, Rates & Rules • Digital-Ready Policy Administration 75+ API-enabled Transactions and Pre-Configured Portals and Apps. • Comprehensive Claims Management FNOL, to Auto-Adjudication to All Claims Financials • Seamless Customer-Centric Journeys Lead through Issue on the Salesforce C360 • Automation-enabled Workflows Low/No-Code Straight-Through Processing
  22. #CD22 Insurance Customer Data Model
  23. #CD22 Insurance Customer Data Model  Reusing Accounts & Contacts, Account Contact Relationship from CRM  Repurposes Asset for insurance specific record types  Introduces Party model for financial services  Adds Insurance Policy & Insured / Insurable Items  Adds Products & Services (held and non-held)  Adds Financial Accounts, Statements, Billing Accounts  Adds Attributes model
  24. #CD22 Policy Administration • Complete system of record with Full Policy Lifecycle Support • Metadata-based Product Management, including Rules and Rating, for Easy Code-Free Maintenance • Pro-Rata Endorsement and Cancelling Pricing, including Out- Of-Sequence Endorsements • Automated Renewals and Payment Plan Processing • Earned Premium Schedule and Reporting • Policy Transaction Posting • Guided, omnichannel user experiences • Native Support for Salesforce FSC Object Model
  25. #CD22 Policy Data Model
  26. #CD22 Policy Data Model  Extends Insurance Policy & Insured / Insurable Item data model from FSC  Allow manage Policy Member Assets including difference between insured person and beneficiary  Creates Product / Product Spec / Coverage / Policy / Plan relationships  Maintains Policy Transactions, Revenue Schedules and Surcharges  Introduces Partner (Tied Agent, Broker) model including Carrier / Writing company / Producer / Commission relationship  Leverages SFI Insurance Product Catalogue: Product Specs / Coverage Spec / Insured Item Specs / Rating Facts…etc.
  27. #CD22 Quote, Rate & Apply • Guided, omnichannel quotes and applications • Based on Salesforce Opportunity, Quote and Product Objects • Real-time Call-Outs for Data Enrichment • Attribute-driven Policy Configuration with Real-Time Repricing • Automated Underwriting and Referral Rules • Underwriter Workstation for Approval andAdjustments • Template-driven Proposal Generation
  28. #CD22 Quote Data Model
  29. #CD22 Quote Data Model  Extends Salesforce’s Quote / Quote Line Item / Opportunity / Product2 model  Adds Attributes (JSON) from SFI Product Catalogue (beyond SF Fields in Product2 object)  Combines multiple SFI & FSC object to Quoted Insurance: Coverage / Insured Item / Insured Party / Quoted Policy / Quote Item Relationships  Product Availability & Eligibility driven by rules set in SFI Product Catalogue  Deals with Product Taxes / Fees / Adjustments  Deals with Commission / Producer / Carrier / Writing company relationships
  30. #CD22 Claims Management • Peril-based Omnichannel FNOL • Data Capture and Rules based on Policy or Peril • Automated Adjudication and WorkflowRules • Claims Adjuster Workstation embedded within Salesforce CRM • Coverage Assignment, Verification and Payout Calculations, including Limit and Deductibles • Salesforce Approvals for Reserve and Payments • Integrated Document and Image management, including Rules-based Document Placeholders
  31. #CD22 Claims Management Data Model
  32. #CD22 Claims Management Data Model  Reuses data in Policy Admin (Coverage / Product / Insured Item / Insured Party)  Establishes relationships between Claims Participant (e.g., Driver / Other Driver / Witness / Adjustor)  Deals with Adjustment of Reserves & Payments  Link to Claim evidence adjustors (images, documents, videos) from multiple sources (email / call center / FNOL)  Deals with Claims related to partners / brokers / tied agents (e.g., negotiating on behalf of the client)
  34. #CD22 SFI INSURANCE – LESSONS LEARNED 1. Product is the King – everything starts and ends with the product, do a lot homework before you start building your product. 2. Rule is the Queen – every product comes with the rules, when, how and to whom you can offer it, rules will take a lot effort. 3. Know Omniscript in and out – this is the area you will spend most of your time, well designed Omniscript means your products and rules are clear. 4. Use Integration Procedure when you can – think first about IP before thinking about any other way to integrate, and reuse IP if you can. 5. Simplify processes and products when possible – often firms have processes wrapped around legacy systems, SFI can help rethink and simplify. 6. Don’t forget SFI is not standard Salesforce – many classic SF developers can get confused from DataRaptors and other concepts
  35. Thank you! #CD22