Business In Real Time


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This program is for insurance producers, insurance agency principals and managers, insurance company managers & staff, and anyone else who needs to understand and be able to manage doing business in today’s fast paced and real-time world. The class will explain the trends in insurance agency technology and how they are changing the way you interact with your clients and prospects.

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Business In Real Time

  1.<br />1<br />Business in Real-Time<br />Steve Anderson<br />The Anderson Network, Inc.<br />
  2.<br />2<br />Moore’s Law<br />“The number of transistors per square inch of possessor doubles every 18 months while the cost remains constant or drops.”<br />Gordon Moore, Founder - Intel Corporation<br />
  3.<br />5<br />Metcalf’s Law<br />“The usefulness of a network increases by the square of the number of connections.”<br />Bob Metcalf, Inventor of Ethernet<br />
  4.<br />8<br />Reasons for Past Failure<br />Principals and producers not involved <br />Internal rather than external focus<br />Technology didn’t deliver<br />Cost vs. benefit<br />Resistance to change - failure to implement<br />“Automation does get some jobs done faster. But fundamentally the same jobs are being done, and that means no fundamental improvements in performance.”<br />Michael Hammer & James Champy Re-engineering the Corporation<br />
  5.<br />9<br />Agency Technology Trends<br />User Interface<br />Communication<br />Information Sharing<br />
  6.<br />10<br />User Interfaces will continue to change not functionality<br />
  7.<br />11<br />
  8.<br />12<br />User Interface<br />Web based computing<br />Company Web Sites<br />Comparative Rating<br />Client Access<br />Voice over IP (VoIP)<br />
  9.<br />13<br />The On Demand World Requires Always On<br />
  10. Client expectations<br />Time is important<br />Leverage time with technology<br />Saving time = Good Service<br />Good customer service raises expectations<br />
  11. What is <br />“Good Customer Service?”<br />Transactions<br />or Relationships<br />
  12. Too many agencies think “Good Service” is transaction processing. Our computer systems have gotten us into the trap of thinking that the faster we can process a transaction the better service we provide.<br />
  13. Using Tech to Touch<br />E-mail<br />Newsletters<br />Blogs<br />Tracking personal preferences<br />“Auto-pilot” relationships<br />
  14. The Power of Questions<br />Don’t guess – ask!<br />Keep asking<br />Record the answers<br />Now – ACT on them!<br />
  15. Success criteria: <br />Success is not more customers, but a larger share of existing clients<br />
  16.<br />21<br />What is Real-Time?<br />
  17.<br />22<br />Is this Real-Time?<br />
  18.<br />23<br />Business in Real-Time<br />Management<br />Internal Operations<br />Customer Service<br />Marketing & Sales<br />Carrier Relations<br />Human Resources<br />
  19.<br />24<br />Real-Time Management<br />How do you keep up?<br />What kind of planning do you do?<br />What kind of technology infrastructure do you have?<br />What kind of technology will you need?<br />
  20.<br />25<br />What assumptions do we need to change?<br />
  21.<br />26<br />What’s the impact?<br />
  22.<br />27<br />Real-Time Operations<br />What will an agency management system look like?<br />How will real-time communication work?<br />Will you be able to get rid of paper?<br />Do you need a physical office?<br />How do you keep a client focus?<br />
  23. Application Service Provider<br />You do insuranceThey do Technology<br />
  24. Flavors of ASP<br />Full service desktop<br />Terminal server<br />Icon based<br />LOB applications<br />Browser based<br />Web enabled applications<br />
  25. Advantage<br />Focus on core business<br />Reliable computing<br />Predictable costs<br />Capital expenses reduced<br />Multiple locations<br />
  26. Disadvantage<br />Data not in agent’s office<br />Relies on Internet connection<br />Slower for certain functions<br />Current cost<br />
  27. Examples<br />Web Enabled Software<br />Applied TAM & Vision<br />AMS Services<br />AMS Sagitta Online<br />Web Architected Applications<br />AMS 360<br />XDimensional Technologies Nexsure<br />EbixASP<br />
  28. What makes a Virtual Office<br />Access from anywhere<br />Information available to everyone<br />Easy communication<br />Fast connection<br />Effective use of technology<br />Do you need a physical office?<br />
  29. Why add virtual options?<br />Attract new employees<br />Retain current employees<br />Lower level work to lower level employee<br />Greater flexibility<br />Increase productivity<br />Reduced expenses<br />
  30. Vital Part of Today’s Business<br />Work is no longer a “place”<br />Key is improved access<br />To people<br />To Data<br />Mobile Voice changed work<br />Mobile Data will also<br />
  31. Remote Staffing (Outsourcing)<br />Two types<br />Project<br />Person<br />
  32. Remote Staffing (Project)<br />Specific projects<br />Limited scope<br />Well defined<br />Short duration<br />Options<br /><br /><br /><br />
  33. Remote Staffing (Person)<br />Why?<br />Demographics<br />Difficulty finding staff<br />Lower cost <br />What?<br />Data entry<br />Back office transaction processing<br />Not customer interaction<br />Who?<br />ResourcePro (<br />Ebix (<br />
  34. “My employees at Resource Pro access our system through our terminal server.  I have every confidence about their confidentiality.  In fact, they reconcile my bank statements and perform daily accounting functions!”<br />
  35. Remote staff tasks<br />New Business<br />
  36. Potential Cost Savings<br />The cost for the contracted / outsourced employee is $24,000 annually. CFO has estimated that the cost of hiring an internal employee versus hiring a remote staffer would result in approximately $39,000 in savings (per person) if we chose to hire a remote staffer.<br />
  37. Issues to Consider<br />Political perception<br />Security<br />Resistance to change<br />Communication<br />Time difference<br />Cost/savings<br />Staff turnover possibilities<br />
  38. Looking for remote workers<br /><br /><br /><br />
  39.<br />53<br />Real-Time Communication<br />Carrier options<br />Transformation Station<br />TransactNow<br />Web Bridge<br />Carrier Connect<br />Other wireless access<br />How is agency workflow changed?<br />
  40.<br />54<br />Information is available to anyone who needs it when they need it.<br />
  41. Communication Options<br />Fax<br />E-mail<br />Online Chat<br />Instant Messaging<br />Text Messaging?<br />
  42.<br />56<br />Communication<br />Learning relationships<br />Wireless access<br />Carrier options<br />Transformation Station<br />TransactNow<br />Web Bridge<br />Carrier Connect<br />
  43. Company Interface<br />Issues to consider<br />How will it affect your agency workflow?<br />Stand alone proprietary systems<br />Part of your agency management system.<br />
  44. Online Chat<br />
  45.<br />65<br />Real-TimeCustomer Service<br />What does good service really mean?<br />What do clients want from you?<br />How can you provide 24/7 service?<br />
  46. Client Service Centers<br />Insurance Company based<br />Valid strategic option<br />Traditional model<br />What’s Your Experience<br />Agency based service center<br />Workflow issues<br />
  47. Agency Web Site Service<br />Forms for changes<br />Agency procedure for responding<br />Self Service<br />Account information<br />Policy Changes<br />Auto IDs<br />Certificates<br />Payment options<br />
  48. Agency Service Center Stats<br />Average agency has 32 insureds processing transactions monthly, with and average of 277 phone transactions per month and an average of 576 online transactions per month.<br />
  49. Online Access options<br />CSR24 (<br />CertificatesNow (<br />TrackCertsNow (<br />Agency Management System Access<br />Applied InScope<br />AMS Client Access<br />
  50. Certificates & ID Cards<br />Sell the value<br />High volume clients<br />Signed agreement<br />Audit<br />
  51. Web based customer service<br /><br />
  52. Agency Web site service<br />Private labeling<br />Putting your name on another application<br />Examples<br /><br /><br /><br /><br />
  53.<br />73<br />Real-Time Marketing<br />What type of producers do you hire?<br />How does marketing change?<br />What about email marketing?<br />Can technology help you sell?<br />What shouldn’t changed?<br />
  54.<br />74<br />Real-Time HR<br />What type of employee will you hire?<br />Where will they work?<br />How does management style need to change?<br />
  55.<br />75<br />Opportunity<br />The new consumer, the information society, cyber-space, and paradigm shifting technology all add up to a great opportunity for Independent Agents<br />
  56. Subscribe to Steve Anderson’s TechTips and receive one short, to the point tip per week on little known websites, software and hardware tools, and any other resources that will help agencies increase revenue or reduce expenses.<br />Sign up<br />
  57. The Anderson Agency Report<br />Providing Independent Agents with the insurance technology information they need to more effectively manage and grow their agencies.<br />Subscribe today and get up-to-the-minute agency technology news, research, expert opinion, and specific recommendations, all written from, and for, the perspective of the independent agent. <br />TAAReport.com303.404.0457<br />
  58. Steve Anderson<br />The Anderson Network, Inc. <br />PO Box 1546<br />Franklin, TN 37065<br />(615) 599-0085<br /><br />