Provides an overview of what may be achieved through the digitalization of new business processing and the implementation of straight-through processing including the digital delivery of life insurance policies.
20140826 I&T Webinar_The Proliferation of Data - Finding Meaning Amidst the N...Steven Callahan
Joint presentation with I&T's covering the proliferation of data available to insurance companies today and a high level view of searching for value and leveraging the relevant and useful buried in all of the trivia.
Your firm needs to be committed to protecting information assets, including personal data and client documents. As a trusted advisor to our clients, the expectation is that we are aware of threats and are guarding their data. Data privacy and information security are fundamental components of doing business today, no matter how large your firm is.
In this paper we will look at three specific ways of protecting our clients:
1. Protection through our ability to research and improve intellectual capital
2. Protection through policies, procedures and processes
3. Protection by securing client data
The digital revolution changed the way we work forever. Is your organisation keeping up? Here’s a quick guide to the four
most popular digital workers, and how IT support can help your company make the most of the tech boom.
Today’s online world brings new challenges to businesses, making the security of your businesses’ internal information extremely critical. As we are all connected to the Internet,
we all can become a victim of cyber-attacks.
So, what can you do to better protect your business and secure your internal data?
In this Slideshare, Fuji Xerox covers the hottest trends for any organisations actively seeking to achieve a more efficient business workflow through digitalisation.
Ready to send the world’s mostexpensive email? Avoid a million-dollar mistake by understanding the rules of CASL with this overview of Canada's version of the CAN SPAM Act. Designed for law firm marketing, this presentation is geared to law firm business development, marketing and CRM specialists.
20140826 I&T Webinar_The Proliferation of Data - Finding Meaning Amidst the N...Steven Callahan
Joint presentation with I&T's covering the proliferation of data available to insurance companies today and a high level view of searching for value and leveraging the relevant and useful buried in all of the trivia.
Your firm needs to be committed to protecting information assets, including personal data and client documents. As a trusted advisor to our clients, the expectation is that we are aware of threats and are guarding their data. Data privacy and information security are fundamental components of doing business today, no matter how large your firm is.
In this paper we will look at three specific ways of protecting our clients:
1. Protection through our ability to research and improve intellectual capital
2. Protection through policies, procedures and processes
3. Protection by securing client data
The digital revolution changed the way we work forever. Is your organisation keeping up? Here’s a quick guide to the four
most popular digital workers, and how IT support can help your company make the most of the tech boom.
Today’s online world brings new challenges to businesses, making the security of your businesses’ internal information extremely critical. As we are all connected to the Internet,
we all can become a victim of cyber-attacks.
So, what can you do to better protect your business and secure your internal data?
In this Slideshare, Fuji Xerox covers the hottest trends for any organisations actively seeking to achieve a more efficient business workflow through digitalisation.
Ready to send the world’s mostexpensive email? Avoid a million-dollar mistake by understanding the rules of CASL with this overview of Canada's version of the CAN SPAM Act. Designed for law firm marketing, this presentation is geared to law firm business development, marketing and CRM specialists.
Flexible Working enables both the employee and the business’ needs to be met through agility and adjustments to when, where and how both choose to work.
This is mutually beneficial to both the employer and employee and result in outcomes the reap success.
User satisfaction trough professional communicationIngeKokta
Despite the steadily increasing service quality of internal Siemens IT, the numbers from the user satisfaction survey painted a different picture. Which measures and which way of addressing our costumers work best when it comes to communicating IT updates and improvements?
Internal IT has been taking a different approach since June
2018 and, just three months later, is registering a significant increase in the levels of user satisfaction with the tools and services.
User satisfaction trough professional communicationIngeKokta
Despite the steadily increasing service quality of internal Siemens IT, the numbers from the user satisfaction survey painted a different picture. Which measures and which way of addressing our costumers work best when it comes to communicating IT updates and improvements?
Internal IT has been taking a different approach since June
2018 and, just three months later, is registering a significant increase in the levels of user satisfaction with the tools and services.
Columbia Business School's Center on Global Brand Leadership, in conjunction with the Aimia Institute, surveyed over 8000 global consumers to uncover how they perceive
and act on sharing their data with companies.
More information is available from:
http://gsb.columbia.edu/globalbrands
or
http://aimia.com
Keynote presentation from IBM Solutions Connect 2013 covering topics such as changing business world today and how technologies can help organisations cope with this change and move forward.
Consumer technology is invading the enterprise and IT must embrace it in order to encourage employee productivity and satisfaction. Info-Tech recommends that organizations allow personal mobile devices on their corporate networks. This research addresses the following:
•Understand differences in security and management between the three major platforms – BlackBerry, Apple iOS, and Google Android.
•Evaluate the organization's position on the mobile device security scale and determine if third-party infrastructure is necessary.
•Development and enforcement of a personal mobile acceptable use policy to encourage end-user compliance and foster success.
Embrace consumer technology in the enterprise, and focus on end-user compliance to leverage productivity and maximize the potential for success.
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Healthcare organizations create a massive amount of digital data. Some is stored in structured fields within electronic medical records (EMR), claims or financial systems and is readily accessible with traditional analytics. Other information, such as physician notes, patient surveys, call center recordings and diagnosis reports is often saved in a free-form text format and is rarely used for analytics. In fact, experts suggest that up to 80% of enterprise data exists in this unstructured format, which means a majority of critical data isn’t being considered or analyzed!
Our webinar demonstrated how to extract insights from unstructured data to increase the accuracy of healthcare decisions with IBM Watson Content Analytics. Leveraging years of experience from hundreds of physicians, IBM has developed tools and healthcare accelerators that allow you to quickly gain insights from this “new” data source and correlate it with the structured data to provide a more complete picture.
PepsiCo needed to:
Enable dashboards and selected applications on smart phones
Increase the usability and richness of custom applications
E.g. Port Demand Resource Planner from a thick client to an RIA
Establish a division of responsibilities between rich applications and portal umbrellas
Charities and other not-for-profit businesses tackle everyday business issues differently, which impacts on how big a difference they can make with the funds they have. We identified eight common issues our NFP customers faced, and examples of how they overcome it by using operational intelligence.
Tackling the ticking time bomb – Data Migration and the hidden risksHarley Capewell
Data migration is intrinsic to most big IT projects and yet
as an industry we have a poor record of tackling it.
If you are faced with responsibility for an IT project where
there will be some element of data migration then this
white paper written by industry expert Johny Morris will
help guide you past the pitfalls that await the unwary and
even how to add value as a consequence of performing
this necessary task.
A strong communication capability between the business and IT ensures the alignment of business requirements with delivered IT functionality and value. Use this storyboard to understand common barriers to effective requirements management, tactical solutions to overcome these barriers, and how to achieve a high level of project success.
This storyboard will help you:
•Understand the common barriers to effective requirements management
•Learn how organizations have solved these challenges
•Implement your own tactical solutions to enable effective communication of business requirements for IT projects in your organization
•Achieve a high level of project success
Whether an organization develops its own applications or implements packaged solutions, the success of the project depends on the clear communication of business requirements in terms IT can understand and deliver.
Cisco webinar serving the connected customergarycoville
This is a presentation delivered by Cisco and eGain in January 2015 focused on how to deliver the Total Customer Experience through an omni-channel solution
Digital Thinking to unite sales and operations - LIMRA Bangkok 2015The Digital Insurer
2015 Operational Strategies Conference
This conference is for insurance professionals primarily involved with the back office operations at financial services and life insurance companies in Asia Pacific.
Flexible Working enables both the employee and the business’ needs to be met through agility and adjustments to when, where and how both choose to work.
This is mutually beneficial to both the employer and employee and result in outcomes the reap success.
User satisfaction trough professional communicationIngeKokta
Despite the steadily increasing service quality of internal Siemens IT, the numbers from the user satisfaction survey painted a different picture. Which measures and which way of addressing our costumers work best when it comes to communicating IT updates and improvements?
Internal IT has been taking a different approach since June
2018 and, just three months later, is registering a significant increase in the levels of user satisfaction with the tools and services.
User satisfaction trough professional communicationIngeKokta
Despite the steadily increasing service quality of internal Siemens IT, the numbers from the user satisfaction survey painted a different picture. Which measures and which way of addressing our costumers work best when it comes to communicating IT updates and improvements?
Internal IT has been taking a different approach since June
2018 and, just three months later, is registering a significant increase in the levels of user satisfaction with the tools and services.
Columbia Business School's Center on Global Brand Leadership, in conjunction with the Aimia Institute, surveyed over 8000 global consumers to uncover how they perceive
and act on sharing their data with companies.
More information is available from:
http://gsb.columbia.edu/globalbrands
or
http://aimia.com
Keynote presentation from IBM Solutions Connect 2013 covering topics such as changing business world today and how technologies can help organisations cope with this change and move forward.
Consumer technology is invading the enterprise and IT must embrace it in order to encourage employee productivity and satisfaction. Info-Tech recommends that organizations allow personal mobile devices on their corporate networks. This research addresses the following:
•Understand differences in security and management between the three major platforms – BlackBerry, Apple iOS, and Google Android.
•Evaluate the organization's position on the mobile device security scale and determine if third-party infrastructure is necessary.
•Development and enforcement of a personal mobile acceptable use policy to encourage end-user compliance and foster success.
Embrace consumer technology in the enterprise, and focus on end-user compliance to leverage productivity and maximize the potential for success.
IBM Watson Content Analytics: Discover Hidden Value in Your Unstructured DataPerficient, Inc.
Healthcare organizations create a massive amount of digital data. Some is stored in structured fields within electronic medical records (EMR), claims or financial systems and is readily accessible with traditional analytics. Other information, such as physician notes, patient surveys, call center recordings and diagnosis reports is often saved in a free-form text format and is rarely used for analytics. In fact, experts suggest that up to 80% of enterprise data exists in this unstructured format, which means a majority of critical data isn’t being considered or analyzed!
Our webinar demonstrated how to extract insights from unstructured data to increase the accuracy of healthcare decisions with IBM Watson Content Analytics. Leveraging years of experience from hundreds of physicians, IBM has developed tools and healthcare accelerators that allow you to quickly gain insights from this “new” data source and correlate it with the structured data to provide a more complete picture.
PepsiCo needed to:
Enable dashboards and selected applications on smart phones
Increase the usability and richness of custom applications
E.g. Port Demand Resource Planner from a thick client to an RIA
Establish a division of responsibilities between rich applications and portal umbrellas
Charities and other not-for-profit businesses tackle everyday business issues differently, which impacts on how big a difference they can make with the funds they have. We identified eight common issues our NFP customers faced, and examples of how they overcome it by using operational intelligence.
Tackling the ticking time bomb – Data Migration and the hidden risksHarley Capewell
Data migration is intrinsic to most big IT projects and yet
as an industry we have a poor record of tackling it.
If you are faced with responsibility for an IT project where
there will be some element of data migration then this
white paper written by industry expert Johny Morris will
help guide you past the pitfalls that await the unwary and
even how to add value as a consequence of performing
this necessary task.
A strong communication capability between the business and IT ensures the alignment of business requirements with delivered IT functionality and value. Use this storyboard to understand common barriers to effective requirements management, tactical solutions to overcome these barriers, and how to achieve a high level of project success.
This storyboard will help you:
•Understand the common barriers to effective requirements management
•Learn how organizations have solved these challenges
•Implement your own tactical solutions to enable effective communication of business requirements for IT projects in your organization
•Achieve a high level of project success
Whether an organization develops its own applications or implements packaged solutions, the success of the project depends on the clear communication of business requirements in terms IT can understand and deliver.
Cisco webinar serving the connected customergarycoville
This is a presentation delivered by Cisco and eGain in January 2015 focused on how to deliver the Total Customer Experience through an omni-channel solution
Digital Thinking to unite sales and operations - LIMRA Bangkok 2015The Digital Insurer
2015 Operational Strategies Conference
This conference is for insurance professionals primarily involved with the back office operations at financial services and life insurance companies in Asia Pacific.
Just as Amazon changed how we buy things and
Netflix transformed how we consume videos,
companies like AirBnB and Uber have shaken up the
hotel and transportation industries. With new disruptive
technologies, products, services and business models
being introduced almost daily, CIOs need to take charge
of their organization’s response now to secure long-term
business success.
Digital thinking to transform face-to-face insurance in Asia by Hugh TerryThe Digital Insurer
These are the slides presented by The Digital Insurer at the Insurancecom conference in HK at the Ritz Carlton on 2nd December 2014.
The theme of the conference was profitable strategies for growth in 2015 and this presentation focuses on the opportunity to use digital thinking and trends to create Agency 2.0 and Banca 2.0 models
IT enables in the quick access of information and it also accelerates productivity. IT ensures that additional staff may not be necessary when the business grows.
For more such innovative content on management studies, join WeSchool PGDM-DLP Program: http://bit.ly/welingkarshybridDlp
The Digital Insurer speaks at AIA's inaugral bancassurance seminarThe Digital Insurer
The Digital Insurer was pleased to talk about how to think digital and transform face -to-face bancassurance models in Asia.
visit the-digital-insurer.com for more information on the conference.
Post 11. Long term GoalThe Group’s goal is to offer attranhcrowley
Post 1
1. Long term Goal:
“The Group’s goal is to offer attractive, safe and environmentally sound vehicles which can compete in an increasingly tough market and set world standards in their respective class."
2.Balanced Scorecard:
Financial Perspectives:
Profit: 6.5 percent to 7.5 percent.
Operating return on Sales: 6.5 – 7.5%
Return on investment: 12-14%
Customer Perspectives:
Market penetration:
Offer affordable city cars, functional light commercial vehicles.
Inspire new customers and keep them loyal.
Internal Business Process:
Property, Plant and Equipment improvements
Learning and growth:
Employee satisfaction:
Competent and committed employees
Take on responsibility for the environment and society.
Develop sustainability as management principle
3.Balanced Scorecard effects on Manager:
Balanced score card helps manager to develop an efficient policy which leads to achieving the organizational goal.
4.Lead and Lag Measure:
Lead indicators are measures of non-financial and financial outcomes that guide management in making current decisions which yields results in the future. For example, here return on investment would be a lead indicator.
Lag indicators are results of management decisions which are made earlier. For example, here lag indicator is company’s cash flow.
Post 2
I chose Capital One.
Website of bank: https://www.capitalone.com/
1. What do you think that banks overall long-terms goals are?
Based on my research Chase banks long-term goal might be improve more services on making everything digital and to get more market and increasing the wealth and expanding the mortgage business.
2. Develop a balanced scorecard for the bank, include two to five measures in each of the scorecard’s perspective.
Financial: Advance cash flow and profitability of every plan or strategy in the Capital One company, Creating return in investments by growth by advances and aggregate deposits, Enough for liquid cash flow and get return and long-term and short-term investments.
Customer: Profits through customers on high in demand products, Customers belief and trust to increase loyalty and firm by measuring and solving customers’ needs via complaints and measure growth rate of customers in bank per month.
Internal process: To recruit and maintain eligible employees and develop a new process and strategy and achieve objective goals and develop new working environment which will help to develop more automating process and advance process in transaction which will help to increase average time for processing transactions in the firm.
Organization Captivity: In this advanced tech world, customers always focus on easy way banking everywhere, so up-to-date facilities will increase customers in the bank. Also, it should benefit employee’s growth in training and satisfaction. This will help to develop new business ideas and increase the market value of firm.
3. How would the balanced scorecard would affect the way managers develop the banks stra ...
In this webinar, Steven Noels CTO of NGDATA, walks through interactive Big Data to gain real-time intelligence, connect with customers in new ways and deliver greater value through stronger relationships and more compelling offers and services in order to build customer lifetime value and satisfaction.
How to Develop New Products by Financial Times Head of ProductProduct School
Main takeaways:
- Find your north star to develop great products
- How that single metric matters in an overwhelming data informed world
- Product development process across cultures and territories
According to the Yankee Group 38% of American workers are already part of the mobile workforce, and that number is going to grow exponentially. Creating strategies to enable the mobile workforce is critical to enabling productivity of the modern workforce. Organizations need systems, processes, and managers who can manage the growing mobile workforce effectively. The webinar will discuss important factors in creating a mobile strategy
After completing this presentation, attendees will leave with a thorough understanding of:
Aligning mobile strategy with organizational strategy
Key triggers that drive a mobile strategy
How to get started on developing your mobile strategy
Measuring and driving ROI from a mobile strategy
How INOVVO Delivers Analysis that Leads to Greater User Retention and Loyalty...Dana Gardner
Transcript of a sponsored discussion on how advanced analytics drawing on multiple data sources provides wireless operators improved interactions with their subscribers and enhances customer experience through personalized insights.
The Four Essential Pillars of Digital TransformationIan Thomas
Based on years of practical experience this whitepaper distils four key pillars we have observed time and again in successful digital initiatives, providing a structured foundation for an orderly, end-to-end digital transformation of the enterprise.
The Digital Insurer presented at this conference on 18th June 2014.
The aim of the presentation was to look at the digital trends that are impacting health insurance and to explore how digital thinking can transform face-to-face sales of health insurance in Asia as well as develop new business models.
Visit the-digital-insurer.com for more information on digital insurance in Asia
201207 Tech Decisions: 5 Keys to Fast Successful New Deployments.pdfSteven Callahan
Article reviews how to deal with the deluge of new technological options and the aspects of a strategy for quick, high quality implementations of emerging technologies. Based on company success stories, article lays out what will work.
201406 IASA: Analytics Maturity - Unlocking The Business ImpactSteven Callahan
Overview of how experienced insurers are finally unlocking the business value of analytics to strengthen financial results through improved underwriting, better pricing, agent enablement, enhanced risk management, and targeted cost reductions and how analytics maturity and a roadmap increases the odds of success.
Reviews the importance of the claims payment process and how that moment of truth can define the competitive advantage of an insurance company. Focus is on how understanding and improving the process of claims payment benefits market share and organic growth.
201308 Insurance And Technology Webinar: Upgrading Financial SystemsSteven Callahan
Webinar on the reasons for upgrading financial systems, which are often left behind with the focus on customer facing administration and distribution management systems. Yet regulations are forcing companies to look at the benefits of upgrading their financial systems.
201005 LOMA CFO Inforum: State of the Insurance IndustrySteven Callahan
Overview of the key drivers and economics influencing the insurance industry in the coming years. Major trends in products, distribution, and service discussed.
201307 Nolan QNL: Game-Changers - Big Data AnalyticsSteven Callahan
How is big data and the use of analytics altering insurance company risk management and operations? What are the key factors to successfully integrating and using the deluge of new information and tools.
201309 LOMA Policyowner Service and Contact Center WorkshopSteven Callahan
Presentation to insurance service leaders on service and contact center opportunities to provide competitive differentiation as well as summary results of a recent short survey on contact center challenges.
201202 Insurance News Network: CIO Stepping Stones to SuccessSteven Callahan
Discussion of the major issues facing CIO's and how they could best enhance their influence on corporate strategic direction and supporting strategies.
Article discussing longer term implications of the current challenges facing the industry and likely structural changes that will occur over time. Technology, talent management, operations and service differentiation are all discussed.
Quick interview discussing most effective way to start leveraging the power available in analytics and big data. Discusses key points on how to successful gain traction integrating analytics into the decision making process.
201204 Nolan QNL: Life and Annuity Industry OutlookSteven Callahan
An abbreviated version of the industry forecast for 2012 pointing out the highlights of key issues, strategies, areas needing focus, and likely structural changes.
201205 Property Casualty 360: TMI is Never BadSteven Callahan
Quoted several times in article on the value of information and how the industry is unlikely to ever get too much. Information is critical so insurance decision making; managing it is becoming far more difficult.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
20140408 LOMA Life Insurance Conference: STP More Than Just A Tweak To Your Operations
1. Presented by:Presented to:
THE NOLAN COMPANY
3.2 Straight-Through Processing:
More Than Just A Tweak To Your Operations
People, Process, and Technology
Steven M. Callahan, CMC, ChFC, CLU, FFSI, FLMI
March 28, 2014
Insurance Practice Director
2014 LOMA
Life Insurance Conference
Stop Tweaking ! Start Recalibrating!
2. 2 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Agenda
• Introductions
• Straight Through Processing Today and Into the Future
• AXA Case Study
• Questions
Session Summary:
• Overview and details of what may be achieved through the digitalization of
new business processing and the implementation of straight-through
processing including the digital delivery of life insurance policies.
• Insight from an insurance company representative on their successful
implementation of a digital solution.
3. 3 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Introduction
• Steven Callahan, CMC, ChFC, CLU, FFSI, FLHC, FLMI/M
Ø The Nolan Company is a Management Consulting Company helping insurance
companies with strategy, operations, and technology challenges for over 40 years.
Ø I’ve been In insurance 30+ years, former Admin (NB, POS) and IT exec for AXP,
GE, FFAL.
Ø As Practice Director at The Nolan Company, split time between research, papers,
and helping clients address service and operational issues.
Ø Lately biggest client focus has been inflight system project problems and smoothly
integrating technologies that have been rushed to delivery.
• Let’s connect on LinkedIn – send invite to www.linkedin.com/in/stevencallahan
Ø Follow my very rare tweets @stevenmcallahan
Ø Traditional email: steve_callahan@renolan.com
• Housekeeping
Ø The entire presentation will be posted shortly after the conference.
Ø The flow is informal, open to questions, meant to be relaxed and informative.
Ø Please be sure to fill out the survey at the end – or when you leave if earlier
4. 4 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Customer Diversity and Knowledge is Rapidly Growing
Ethnic Diversity
2014 Social Networking Resources
Courtesy of : wearesocial.ng slideshare.net
Workforce Generational Diversity & Shift
5. 5 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Web &
Social Media
Communications Methods have come a long way
Simple:
Complex:
Phone
Paper
Service Delivery Resolution
Phone
Paper
Service Delivery Process Resolution
Phone
Paper
Email
Text
IVR
Service Delivery Process
Self-Service
Resolution
Chat Video
Transfer Vendors
Fax
Fax
6. 6 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Customer Service Old News: Future is Customer Engagement
The “Big 3” measures of Customer Retention and EV?
- Will they come back / stay
- Will they recommend you (Net Promoter basis)
- Do they feel the got value that exceeds price
7. 7 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Customer Awareness and Empowerment is Significant
Tens of thousands of positive service touchpoints
a day, and yet one bad interaction…
And suddenly your company is at
the top of the tweets list telling
thousands followed quickly by a
Facebook “Unlike” Fan Page. Today’s Customer
8. 8 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Technology’s Adoption and Utilization Growth Rate Exponential
Every 60 seconds:
Ø168M Emails
Ø695k Searches
Ø370k Skype Minutes
Ø98k Tweets
Ø13k iPhone apps
ØThe current storage and processing capacity of the globally connected internet is currently
roughly the equivalent of one human brain.
ØUnlike the human brain, this synthetic global “brain” is doubling its capacity every 18 months;
by 2040, it will exceed the processing power of all 7 Billion human brains in existence.
------ Kevin Kelly on “The Technium”
9. 9 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Insurance has Growth Potential: Digital Companies have Advantage
10. 10 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
What Does This Have to do with Straight-Through Processing?
0
10
20
30
40
50
60
70
80
Millions
GI Swing Boomer Gen X Millennials
High TechLow Tech
Increasing Customers Demands
• Immediacy / 24x7 access
• Transparency
• Personal service relationships
• Language
• Driven within and outside the
industry
The Market is a Diversity of Communication & Technology Expectations
Digitalization of Insurance = Competitive Differentiation = Market Share
11. 11 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Customer Buying Patterns are Shifting: “Recalibration” is Key
Copyright:
12. 12 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
STP Approval and Implementation Faces Challenges
ü Streamline operations
ü Customer centric processes
ü Elimination of paper processes
ü Automate process / Reduce errors
ü Optimize process / Reduce costs
ü Cost effective scalability
ü Shift to near real time
ü Expanded accessibility
ü Multiple legacy systems
ü Data security concerns
ü Constant regulatory change
ü Insufficient forms standards
ü Still have manual steps
ü Cycle time hard to reduce
ü Inadequate ROI to do right
Well Run Implementations are proving Hard to Get Approved
13. 13 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Doing it Right
Fix The Processes First:
• Eliminate handoffs
• Eliminate duplication of effort
• Consolidate / simplify organization
• Reengineer practices for desired target end state
• Review STP parameters vs newly designed practices and processes; pick best
• Develop a roadmap from current state to reengineered end state
• Use Agile Sprints and Prototyping to implement in small steps
• Make sure full integration with existing environment is part of Day 1
• Start with greatest pain point / highest impact – usually New Business or Claims
• Leverage what you bought, comply with industry standards – customization risk
14. 14 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Take Small but Complete Bites: Fully Integrated Steps
15. 15 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
The Problem Is Partial Implementation and Partial Integration
LEGACY
MOUNTAINS
E-signature
E-apps and
State Forms
Output
System
Predictive
Risk Models
Image &
Workflow
Medical
Providers
UW
Review
Admin
System
Sales
Portals
Client
Portals
Online
Vaults
CRM /
Illustrations
16. 16 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Elements of Straight-Through Processing for New Business
Client
Data
CRM feed,
Illustration link,
Auto-fill / Reuse
Signature
Method,
Confirmability,
Lock
Forms
Channel,
Product,
State
IGO
Consistency,
Completeness,
Validity
Identity,
Licensing,
Suitability
UW
Initial Review,
Requirements,
Approvability
MIB & MVR,
Financials,
Script
SECURITY / ENCRYPTION
MULTI=PLATFORM COMPATABILITY
APP CAPTURE E-SIGN
PACKAGE
REVIEW
REQUIREMENTS
ORDER
DATA TRANSFER
APP SERVICES and RULES
SECURITY / ENCRYPTION
REMOTE CONTROL & ACCESS
HQ
HQ
17. 17 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
WHAT MIGHT BE POSSIBLE”
BEHAVIORAL
DATA
SOCIAL DATA
LIFESTYLE INFO
INSURANCE ADVISOR
HQ UNDERWRITING
INSURANCE BUYERS
PRIMARY PHYSICIAN
MEASUREMENTS
COGNITIVE TESTS
18. 18 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Straight-Through Processing is one Part of Future Business Model
Copyright:
STP
19. 19 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Future Success Depends Upon Digitally Transforming The Business
20. 20 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Shifting to a Customer-Centric Operation: Tailored & Transparent
“Reinvent customer
relationships” was the
top priority for the next 3
years given by 42% of
respondents in a recent
IBM Global C-Suite Study.
21. 21 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Characteristics of a Future Engaged Customer Relationship
• Desire for personal interaction – web only buying grew 1%
• “Digitally enabled personal service” is expected
• Advice and recommendations remain important
• Convenience and innovation are now expected, especially by younger buyers
• Younger buyers will switch carriers faster to get what they want
• Characteristics and psychographics of consumer segments are shifing fast
• Fewer and fewer of the traditional loyal long term customers
• Studies indicate the customer of the future is:
• Less price sensitive at market level but attentive to company differences
• Desirous of advice from friends, family, and company representatives
• Oriented towards personal interaction during the shopping process
• Expecting omni-channel engagement and service methods
• Interested in new and innovative product solutions
• Require simple convenience with personal and digital service options
22. 22 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Digital Maturity based on Customer Awareness and Interaction
Organization Centered Individual Centered Everyone to Everyone
Connectivity Asymmetric
Info asymmetry restricts
coordination
Flexible
Automated value
chain
Orchestrated
Collaborative and
seamless
Interactivity Incidental
One-time transactions
Integrated
Links individual and
organization, digital
and physical
Symbolic
Mutual
interdependence
Awareness Segmented
Individual unknown and
assumed
Tailored
Individual is known
and unique
Contextual
Experience is
calibrated and
relevant to immediate
actions and needs
Intelligence Transactional
Passive learning through
direct relationship
Responsive
Data-supported
learning and
decision-making
Cognitive
Self-supported
learning and
predictive capabilities
Source: IBM Institute for Business Value Analysis
23. 23 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Tips for Implementation
Strategic Alignment Implementation Approach
Ø Transformational Ø Customer centric focus – outside in
Ø Phablet Point-of-Sale tools critical Ø Agile methodology with prototyping
Ø Comprehensive approved business case Ø Disciplined change management
Ø Dedicated Resources Ø Distribution champions program
Ø Clearly defined integrated roadmap Ø Structured like a product launch
Additional Digital Opportunities – and Challenges - are Fast Approaching:
• Digitalized Underwriting Information
• Formalized Social Networking Data Integration
• Centrally available Behavioral Data Warehousing (lifestyle, shopping, travel)
• Digital Medical Records (EHR)
• Wearable Device Information Access (from Fitbits to Pacers)
25. 25 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Maybe Even Too Much Data…….
Toto's new Intelligence Toilet II monitors weight, blood
sugar levels, and other vital signs, transferring data to your
computer for analysis via WiFi.
26. 26 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Health Management is the Next Life Risk Management Opportunity
27. 27 LOMA Life Insurance Conference: April 7 - 9, 2014
3.2 Straight-Through Processing: More Than Just A Tweak To Your Operation
Remember: Integrated Steps Is Key to Least Cost Success
E-signature
E-apps and
State Forms
CRM /
Illustrations
Output
SystemPredictive
Risk Models
Image &
Workflow
Medical
Providers
UW
Review
Admin
System
Sales
Portals
Client
Portals
Online
Vaults
28. Steven M Callahan, CMC®, FFSI
Insurance Practice Director
Steve_Callahan@renolan.com
206-619-7740
www.linkedin.com/in/stevencallahan
@stevenmcallahan
www.renolan.com