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Leading the Insurance Industry with On-Demand CRM


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Leading the Insurance Industry with On-Demand CRM

  1. 1. Leading the Insurance Industry with On-Demand CRM John Caine, The Phoenix Companies Lisa Lawrence, Liberty Northwest Insurance Corp Sal Caruso, Track: Financial Services
  2. 2. Safe Harbor Statement <ul><li>“ Safe harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements the achievement of which involves risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.  All statements other than statements of historical fact could be deemed forward-looking, including any projections of subscriber growth, earnings, revenues, or other financial items and any statements regarding strategies or plans of management for future operations, statements of belief, any statements concerning new, planned, or upgraded services or technology developments and customer contracts or use of our services. </li></ul><ul><li>The risks and uncertainties referred to above include - but are not limited to - risks associated with the integration of Sendia Corporation’s technology, operations, infrastructure and personnel with ours; unexpected costs or delays incurred in integrating Sendia with, which could adversely affect our operating results and rate of growth; any unknown errors or limitations in the Sendia technology; any third party intellectual property claims arising from the Sendia technology; customer and partner acceptance and deployment of the AppExchange and AppExchange Mobile platforms; interruptions or delays in our service or our Web hosting; our new business model; breach of our security measures; possible fluctuations in our operating results and rate of growth; the emerging market in which we operate; our relatively limited operating history; our ability to hire, retain and motivate our employees and manage our growth; competition; our ability to continue to release and gain customer acceptance of new and improved versions of our CRM service; unanticipated changes in our effective tax rate; fluctuations in the number of shares outstanding; the price of such shares; foreign currency exchange rates and interest rates. </li></ul><ul><li>Further information on these and other factors that could affect our financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings we make with the Securities and Exchange Commission from time to time, including our Form 10-K for the fiscal year ended January 31, 2006. These documents are available on the SEC Filings section of the Investor Information section of our website at . </li></ul><ul><li>Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all.  Customers who purchase our services should make purchase decisions based upon features that are currently available., inc. assumes no obligation and does not intend to update these forward-looking statements, except as required by law. </li></ul>
  3. 3. Agenda <ul><li>Welcome & Introductions </li></ul><ul><li>Phoenix Case Study </li></ul><ul><li>Liberty Northwest Insurance Case Study </li></ul><ul><li>Extending CRM to your agents </li></ul><ul><li>Q & A </li></ul>
  4. 4. CRM Challenges facing Insurance Companies Today <ul><li>Moving from a direct to independent agent model </li></ul><ul><li>Offering a wider range of products to drive revenue </li></ul><ul><li>Lacking a unified view of the customer </li></ul><ul><li>Accessing multiple legacy systems for key data </li></ul><ul><li>Having poor or ineffective tools to manage the relationship with producers and clients </li></ul><ul><li>Regulatory Compliance </li></ul>
  5. 5. Customer Success in Insurance
  6. 6. John Caine Director, Technology Strategy [email_address]
  7. 7. The Phoenix Companies, Inc. <ul><li>155 years old </li></ul><ul><li>IPO in 2001 </li></ul><ul><li>Manufacturer and wholesaler of financial services products </li></ul><ul><li>Life Insurance Division: </li></ul><ul><ul><li>85 wholesalers, 11 regional managers, 80 sales support staff </li></ul></ul><ul><ul><li>5 custom apps, 33 custom objects, 20 custom tabs </li></ul></ul>INDUSTRY: Financial Services EMPLOYEES: 1,200 GEOGRAPHY: United States PRODUCT(S) USED: SFA, 1 AppExchange partner (ExactTarget), AppExchange API # USERS: 210
  8. 8. Phoenix – Key Challenges <ul><li>Business Challenge </li></ul><ul><ul><li>Evolving business model </li></ul></ul><ul><ul><li>Large sales territories </li></ul></ul><ul><ul><li>Regional inconsistencies </li></ul></ul><ul><li>Technology Challenge </li></ul><ul><ul><li>Legacy environment </li></ul></ul><ul><ul><li>Offshore software development </li></ul></ul><ul><ul><li>Outsourced technology infrastructure </li></ul></ul><ul><li>Rapid change </li></ul><ul><li>Inefficiency </li></ul><ul><li>“ Flying blind” – no pre-sales/pipeline metrics </li></ul>
  9. 9. Phoenix – The Solution <ul><li>How did we address the challenges? </li></ul><ul><ul><li>Identified & captured key metrics </li></ul></ul><ul><ul><li>Integrated with legacy data stores </li></ul></ul><ul><ul><li>Focused on positive user experience </li></ul></ul><ul><ul><ul><li>Designed tools to collect data transparently (while helping users) </li></ul></ul></ul><ul><ul><li>Re-positioned technology emphasis </li></ul></ul><ul><li>Unlimited Edition </li></ul><ul><li>210 users </li></ul><ul><li>4 AppExchange API integration points; 2 Web integration points </li></ul><ul><li>Used by sales, marketing </li></ul><ul><li>Mobilizing to Blackberry in Q4 </li></ul>DEPLOYMENT DETAILS
  10. 10. Phoenix – Results <ul><li>What were the results? </li></ul><ul><ul><li>Key development efforts in half the time, 25% the cost </li></ul></ul><ul><ul><li>Better visibility into pre-sales activity & pipeline (illustration to application to offer) </li></ul></ul><ul><ul><li>Broad user and executive support: 96% adoption </li></ul></ul><ul><ul><li>2005 - sales grew 33% </li></ul></ul>TIME COST Our old (J2EE) process
  11. 11. Lisa Lawrence Sales Resources Manager [email_address]
  12. 12. Liberty Northwest Insurance (LNW) <ul><li>Part of Liberty Mutual Group </li></ul><ul><li>Since 1983, HQ in Portland, Ore. </li></ul><ul><li>Offer business & consumer insurance </li></ul><ul><ul><li>Commercial auto, property & liability </li></ul></ul><ul><ul><li>Personal lines </li></ul></ul><ul><ul><li>Workers’ compensation </li></ul></ul><ul><li>Distribution: Direct & Agency </li></ul>INDUSTRY: Insurance EMPLOYEES: 1,000 GEOGRAPHY: Northwest Region (AK, ID, MT, OR & WA) PRODUCT(S) USED: Enterprise Edition, SFA, 11 Custom Objects, 11 Custom Tabs, Applications Downloaded – Exact Target # USERS: 80 – 86% login rate USER GROUP LEADER : Portland
  13. 13. Challenge: No Visibility Into Sales Rep Activity <ul><li>Reams of inadequate quarterly reports </li></ul><ul><li>Delayed notice of deal status </li></ul><ul><li>Scheduled servicing events in Excel spreadsheets </li></ul><ul><li>No uniform lead qualification </li></ul><ul><li>Added complexity of multi-channel distribution </li></ul><ul><li>No documented client activity </li></ul><ul><li>No evidence that sales reps use selling methodology </li></ul><ul><li>Sales tracking uses a paper transmittal system </li></ul>Inability to focus sales efforts, poor activity management!
  14. 14. Create 360-Degree View of Sales Rep Activity <ul><li>Customize Salesforce </li></ul><ul><ul><li>Use out-of-the box functionality—Big bang </li></ul></ul><ul><ul><ul><li>Dashboards, customize layouts, custom objects, Office & Outlook Editions, Excel Connector, activity history, custom reports </li></ul></ul></ul><ul><li>Implement best practices </li></ul><ul><ul><li>Company initiatives </li></ul></ul><ul><ul><li>Unique business processes </li></ul></ul><ul><ul><li>Selling methodology </li></ul></ul><ul><li>Create monitoring tools </li></ul><ul><ul><li>You can’t manage what you don’t measure! </li></ul></ul>
  15. 15. Liberty Northwest Solution: 360-Degree View <ul><li>On the Spot View Instant Notices </li></ul><ul><li>Detailed View Drill into Data </li></ul><ul><li>Summary View Manage Activity </li></ul>Create Multiple Views Best Practice Adoption (Custom Reports) Sales & Renewal Production (Dashboards) Client Relationships (Contact Roles, Partners) Instant Notification Won/Lost Deals (Auto Alerts) Product Book (Custom Opportunity Layout) Prospect Qualifying Activity (Custom Object & Tab Views) Client Interactions (Activity History) Sales Rep Activity 360 Degree View
  16. 16. 360-Degree View: Prospect Qualifying Activity <ul><li>Insight into sales rep ranking rationale </li></ul><ul><li>Targets prospects with greatest LNW fit </li></ul><ul><li>Zeros in on client’s pain </li></ul><ul><li>Viewed easily by others </li></ul><ul><li>Identifies performance gaps </li></ul>Increased visibility
  17. 17. 360-Degree View: Client Interactions <ul><li>Log of client & sales rep interactions </li></ul><ul><li>View upcoming appt’s </li></ul><ul><li>Log of completed & planned servicing events </li></ul>Increased visibility
  18. 18. 360-Degree View: Sales and Renewal Production <ul><li>Keeps appropriate staff in communication loop </li></ul><ul><li>Deals at risk </li></ul><ul><li>Single source for results </li></ul><ul><li>Actual against goal </li></ul>Increased Visibility
  19. 19. 360-Degree View: Client Relationships <ul><li>Servicing team </li></ul><ul><li>Agency partners </li></ul><ul><li>Account hierarchy </li></ul><ul><li>Key decision-makers </li></ul>Increased Visibility
  20. 20. Liberty Northwest: Results <ul><li>Increased visibility </li></ul><ul><ul><li>Everyone can access the data they need, when they need it </li></ul></ul><ul><ul><li>Can view results online, in real-time, and get immediate notifications. </li></ul></ul><ul><ul><li>Sales managers report results from a single place. </li></ul></ul><ul><li>Increased productivity </li></ul><ul><ul><li>Standard processes = focused sales rep activity = more efficiency. </li></ul></ul><ul><ul><li>Less time spent looking for information. </li></ul></ul><ul><ul><li>Eliminate deal-tracking transmittal process & dedicated staff position. </li></ul></ul><ul><li>Better decision-making </li></ul><ul><ul><li>Objective prospect ranking and evaluation process. </li></ul></ul><ul><ul><li>Use trending analysis to be more competitive & responsive. </li></ul></ul><ul><ul><li>Conducting performance reviews using Salesforce. </li></ul></ul><ul><ul><li>Use predictive modeling. </li></ul></ul>
  21. 21. Sal Caruso Principal Solution Consultant [email_address]
  22. 22. Why Partner Relationship Management (PRM) for Insurance? <ul><li>Over 150,000 + independent agents </li></ul><ul><li>Loyalty and mind-share </li></ul><ul><li>New product introductions </li></ul><ul><li>Visibility to sales activity </li></ul><ul><li>Productivity </li></ul><ul><li>Common Agent Management Challenges </li></ul>Products mostly sold through independent agents
  23. 23. Introducing Salesforce PRM My CRM One Pipeline. One Application. One Salesforce. My SFA <ul><li>Consolidated Visibility </li></ul><ul><li>Increased Agent Adoption </li></ul><ul><li>Complete Agent Lifecycle Management </li></ul><ul><li>Optimized Agent Coverage </li></ul><ul><li>Global Agent Program Management </li></ul>My PRM
  24. 24. First Point and Click Customization for Agent Portal <ul><ul><li>Custom Branding </li></ul></ul><ul><ul><li>Custom Messages </li></ul></ul><ul><ul><li>Custom Tabs </li></ul></ul><ul><ul><li>Custom Layouts </li></ul></ul><ul><ul><li>Custom Lead Forms </li></ul></ul><ul><ul><li>Custom Fields </li></ul></ul><ul><ul><li>Custom Help </li></ul></ul><ul><ul><li>Custom Workflow </li></ul></ul><ul><ul><li>Customize Anything! </li></ul></ul>Customize with Clicks not Code Brand Message Tabs Fields Help Workflow Layout
  25. 25. Complete Producer Agent Lifecycle Management Increase agent effectiveness Automate Recruitment Market Sell Measure View Every Metric Improve Effectiveness Generate Loyalty Recruit <ul><li>Sales Analytics </li></ul><ul><li>Agent Production </li></ul><ul><li>Dashboards </li></ul><ul><li>Data Quality Management </li></ul><ul><li>Agent Recruitment </li></ul><ul><li>Agent Account Management </li></ul><ul><li>Producer Training </li></ul><ul><li>Producer Territory Plans </li></ul><ul><li>Lead Management </li></ul><ul><li>Agent </li></ul><ul><li>Communications </li></ul><ul><li>Funds & Budgeting Management </li></ul><ul><li>Document Management </li></ul><ul><li>Client Registration </li></ul><ul><li>Opportunity / “Case” Management </li></ul><ul><li>Activity Management </li></ul><ul><li>Policy Management </li></ul><ul><li>Workflow </li></ul>
  26. 26. PRM Demo <ul><li>Key Workflows </li></ul><ul><ul><li>Agent Profile Management </li></ul></ul><ul><ul><li>Opportunity / &quot;Case&quot; management </li></ul></ul><ul><ul><li>Producer agent training </li></ul></ul><ul><ul><li>Product and process updates </li></ul></ul><ul><ul><li>Producer licensing management </li></ul></ul><ul><ul><li>New agency registration </li></ul></ul><ul><li>Key Benefits </li></ul><ul><ul><li>Gaining a unified enterprise view of customers </li></ul></ul><ul><ul><li>Driving agent pipeline </li></ul></ul><ul><ul><li>Fully integrated partner programs </li></ul></ul>
  27. 27. John Caine Director, Technology Strategy Lisa Lawrence Sales Resources Manager Sal Caruso Principal Solution Consultant QUESTION & ANSWER SESSION
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