SlideShare a Scribd company logo
SugarCRM in Your Vertical
       Insurance
            Andrey Andreev
  Global Technical Programs Manager
Vertical Solutions – The Learning
Process

•  Understand the industry structure and
   vocabulary
•  Understand the industry dynamics
•  Understand the industry challenges
•  Understand the industry processes
•  Conceptualize and communicate the solution
Our Case – The Insurance Vertical


•  What is an insurance company?
•  How does it work?
•  What is going on in the marketplace?
•  What are the key challenges on the way of
   success?
•  How do we remove them with Sugar?
What is an insurance company?
•  A financial services provider, that aggregates
   similar but separate risks across a large
   number of individuals, and distributes the risk
   exposure using sophisticated mathematics
•  Charges premiums to collect the exposure
   share plus a margin
•  Invests the money collected
•  Indemnifies for claimed damages covered by a
   policy
How does it work?
•  Develop products
    –  Life
    –  Car
    –  Property and Casualty
    –  Liability
    –  Health
    –  Disability
    –  …
•  Price them exactly
•  Distribute
•  Process claims & complaints
How does it work – Products &
Distribution
Products


•  Siloed – carriers may be separated by law


•  Complex – seriously complex


•  Isolated – different processes, customers
   and channels
Distribution Channels
•  Sales channels
  –  Direct (e.g. online, over-the-phone)
  –  Captive agents (also called tied, exclusive, etc.)
  –  Independent agents/brokers
  –  Affinity-based (e.g. car dealerships, bancassurance)
•  Other players
  –  Insurance pools/syndicates
  –  Comparison portals
•  Common agency specifics – information hiding,
   regulation
The Insurance Dynamic (roadblocks
included)
•  Push for growth in a stagnant market
    –  Even shrinking markets
•  Commoditized product, pressure on margins
    –  Save 15% or more by switching to…
•  Active, demanding, empowered customers
    –  Talking to some of the most conservative companies
       out there
•  Lack of customer trust, loyalty
    –  Average person has 5.2 policies, avg. carrier holds
       less than two of those
Tackling those roadblocks
•  Find new markets?
    –  Hard, but possible
•  Decommoditize products? Price them better?
    –  Not really possible
•  Better engage active (existing) customers?
    –  Good idea, sounds sensible enough!
•  Treat customers with more transparency, service
   them better?
    –  Why not?
•  So, then, it is the customer we need to focus
   on
How might that work for X?
The strategic dilemma
•  According to a study by the IBM Institute for Business
   Value, 90% of all insurance CEOs picked getting closer
   to the customer as their most important strategic initiative
   in the next five years.

•  However:
    –  Insurances might never even talk directly to a
       customer
    –  When it happens, information is fragmented, due to
       the multi-channel, multi-equipment communication
    –  Agency complexity
    –  Information systems and processes revolve around
       products, rather than customers
CRM is the solution! Some complications
•  Agencies more often than not independent
   –  Info does not usually flow upstream
   –  Competitors working in the same system
   –  It’s not just attitude, it’s the law
•  The data lives in ancient mission critical systems
   –  And you cannot touch it
•  Complex “customer” relationship
   –  Insurance owner, insured person, indemnitee
•  People don’t really talk to insurances that often
   –  At least not when they are in a good mood
MOTs? What MOTs?
Let’s see the demo


•    Germany based
•    Founded 1820
•    Active in every insurance class
•    3.5 million customers
•    Revenue $5.2 billion
•    System running out of IBM SCE in
     Ehningen

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Acceleration2012 insurance

  • 1. SugarCRM in Your Vertical Insurance Andrey Andreev Global Technical Programs Manager
  • 2. Vertical Solutions – The Learning Process •  Understand the industry structure and vocabulary •  Understand the industry dynamics •  Understand the industry challenges •  Understand the industry processes •  Conceptualize and communicate the solution
  • 3. Our Case – The Insurance Vertical •  What is an insurance company? •  How does it work? •  What is going on in the marketplace? •  What are the key challenges on the way of success? •  How do we remove them with Sugar?
  • 4. What is an insurance company? •  A financial services provider, that aggregates similar but separate risks across a large number of individuals, and distributes the risk exposure using sophisticated mathematics •  Charges premiums to collect the exposure share plus a margin •  Invests the money collected •  Indemnifies for claimed damages covered by a policy
  • 5. How does it work? •  Develop products –  Life –  Car –  Property and Casualty –  Liability –  Health –  Disability –  … •  Price them exactly •  Distribute •  Process claims & complaints
  • 6. How does it work – Products & Distribution
  • 7. Products •  Siloed – carriers may be separated by law •  Complex – seriously complex •  Isolated – different processes, customers and channels
  • 8. Distribution Channels •  Sales channels –  Direct (e.g. online, over-the-phone) –  Captive agents (also called tied, exclusive, etc.) –  Independent agents/brokers –  Affinity-based (e.g. car dealerships, bancassurance) •  Other players –  Insurance pools/syndicates –  Comparison portals •  Common agency specifics – information hiding, regulation
  • 9. The Insurance Dynamic (roadblocks included) •  Push for growth in a stagnant market –  Even shrinking markets •  Commoditized product, pressure on margins –  Save 15% or more by switching to… •  Active, demanding, empowered customers –  Talking to some of the most conservative companies out there •  Lack of customer trust, loyalty –  Average person has 5.2 policies, avg. carrier holds less than two of those
  • 10. Tackling those roadblocks •  Find new markets? –  Hard, but possible •  Decommoditize products? Price them better? –  Not really possible •  Better engage active (existing) customers? –  Good idea, sounds sensible enough! •  Treat customers with more transparency, service them better? –  Why not? •  So, then, it is the customer we need to focus on
  • 11. How might that work for X?
  • 12. The strategic dilemma •  According to a study by the IBM Institute for Business Value, 90% of all insurance CEOs picked getting closer to the customer as their most important strategic initiative in the next five years. •  However: –  Insurances might never even talk directly to a customer –  When it happens, information is fragmented, due to the multi-channel, multi-equipment communication –  Agency complexity –  Information systems and processes revolve around products, rather than customers
  • 13. CRM is the solution! Some complications •  Agencies more often than not independent –  Info does not usually flow upstream –  Competitors working in the same system –  It’s not just attitude, it’s the law •  The data lives in ancient mission critical systems –  And you cannot touch it •  Complex “customer” relationship –  Insurance owner, insured person, indemnitee •  People don’t really talk to insurances that often –  At least not when they are in a good mood
  • 15. Let’s see the demo •  Germany based •  Founded 1820 •  Active in every insurance class •  3.5 million customers •  Revenue $5.2 billion •  System running out of IBM SCE in Ehningen