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©	
  2014	
  Vlocity,	
  Inc.	
  	
  
Three	
  Strategies	
  to	
  Maximize	
  
Performance	
  of	
  	
  Your	
  Insurance...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  
Webinar	
  Agenda	
  
Jamie	
  Bisker	
  
Senior	
  Insurance	
  Analyst,	
  	
  
AI...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
Introduction:	
  The	
  need	
  to	
  transform	
  
• ...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
•  Big	
  Data:	
  Volume,	
  Variety,	
  Velocity	
  ...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
	
  
Sources:	
  Aite	
  Group	
  “Auto	
  Insurers	
 ...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
What	
  changing	
  demographics	
  means	
  for	
  ma...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
What	
  changing	
  demographics	
  means	
  for	
  in...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
Making	
  it	
  real,	
  incorporating	
  digitization...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
Managing	
  data	
  quality	
  is	
  key	
  to	
  high...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  ©	
  2014	
  Aite	
  Group	
  
Successful	
  carriers	
  who	
  adapt	
  and	
  lever...
Using Technology
for Good
Brent Rineck, CLU, CPCU, ChFC
Chief Information Officer
ABD Insurance & Financial Services
Using Technology for Good
Internal efficiencies lead to better customer service
World class back office and agency
management ...
ABD: Integrated Platform
13
Mobile App
for Producers
Capture leads,
prospects, and
activities
Client Portal
View policies ...
Data Flow to Vlocity
14
Using Technology for Good
Innovative, client-centric use of technology
Be in the know
•  LinkedIn Premium
•  Vlocity cloud...
Using Technology for Good
Ahead of the curve
A blueprint for future applications
•  Nimble and responsive
•  Always proact...
ABD & Vlocity
Access
•  Real-time client, policy and contact information in Salesforce
One and done
•  No duplicate entry ...
VLOCITY	
  INSURANCE	
  
©	
  2014	
  Vlocity,	
  Inc.	
  	
  
Vlocity	
  Insurance	
   •  Extends	
  value	
  of	
  Salesforce	
  Customer	
  
Suc...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  
Vlocity	
  Insurance	
  /	
  Salesforce	
  Industry	
  Solution	
  
Policy	
  /	
  B...
©	
  2014	
  Vlocity,	
  Inc.	
  	
  
Salesforce/Vlocity	
  Users	
  
Vlocity	
  Insurance	
  Single	
  View	
  
•  Unders...
Q&A	
  
www.vlocity.com	
  
844-­‐VLOCITY	
  
@vlocityinc	
  
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Three Strategies to Maximize Your Insurance Distribution Channel

Slides from Vlocity webinar hosted with AITE Research, ABD Insurance for Insurance Carriers, Agents and Brokers.

Brent Rineck, the CIO of ABD Insurance will discussed how they are successfully using Vlocity Insurance and Salesforce to gain a single view into their customer's insurance product portfolios to provide household level marketing, selling, and relationship management.

Jamie Bisker, Senior Insurance Analyst, AITE Research discussed how to build the insurance distribution workforce of the future; retaining and recruiting a new generation of talent.

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Three Strategies to Maximize Your Insurance Distribution Channel

  1. 1. ©  2014  Vlocity,  Inc.     Three  Strategies  to  Maximize   Performance  of    Your  Insurance   Distribution  Channels   WEBINAR  
  2. 2. ©  2014  Vlocity,  Inc.     Webinar  Agenda   Jamie  Bisker   Senior  Insurance  Analyst,     AITE  Group   Brent  Rineck   CIO,  ABD  Insurance   &  Financial  Services   Ron  Young   VP/GM  Vlocity  Insurance   Build  the  insurance  distribution   system  and  workforce  of  the  future   Gain  a  single  view  into  your   customers'  insurance  product   portfolios   Enable  carriers,  agents  and  brokers   to  manage  policies,  quotes,   renewals  and  claims  across  their   clients  and  producer  networks  
  3. 3. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   Introduction:  The  need  to  transform   •  While  some  in  the  industry  are  leveraging    technology,  many  others  are   running  out  of  excuses  not  to  do  so.     •  Digitization  is  becoming  ubiquitous.   •  The  goal  is  not  to  displace  or  replace  people,  it’s  all  about  empowering   and  enabling  stakeholders  with  tools.   •  Changing  demographics  are  causing  larger  flux  in  other  industries  and   we  need  to  be  paying  attention.   •  Managing  customer  expectations  is  a  crucial  task  with  both  consumers   and  all  your  other  customers-­‐your  staff  and  field  professionals.  
  4. 4. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   •  Big  Data:  Volume,  Variety,  Velocity  and  Veracity   •  IoT  –  The  Internet  of  Things   (or  why  you  should  stop  yelling  at  your  TV)   •  Managing  customer  experience     •  Mobile  First   •  Cognitive  Computing       Insurance  transformation:  Digitization  leads  the  way     Sources:  A.M.  Best,  Aite  Group  analysis  
  5. 5. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group     Sources:  Aite  Group  “Auto  Insurers  Digital   Presence”,  June  2014     •  Digitization  is  more  of  a   cultural  destination  than  a   specific  thing,  so  be  careful  of   IT  shops  bearing  gifts…   •  Dynamic  infrastructure  via   cloud  delivery  is  impacting     insurers  from  their  IT  shops  to   their  Actuarial  departments   Digitization:  It’s  not  just  an   IT  thing,  but  that’s  where  it   shows…   Rank   Company   Digital  presence   1   Allstate  (2)   Strong  digital  presence:     Includes  90%    or  more  standard   features,  almost  50%  or  more  of  the   differentiating  features,  with  some   innovation  toward  what's  next   2   Progressive  (4)   3   State  Farm  (1)   4   Geico  (3)   5   Farmers  (5)   6   The  Hartford  (11)   Needs  improvement  digital  presence:       Insurers  with  a  range  of  68%  to  95%  of   the  standard  features  and  only  about   25%  to  about  50%  of  the  differentiating   features     7   Liberty  Mutual  (7)   8   Nationwide  (8)   9   Travelers  (9)   10   Amica  (22)   11   American  Family  (10)   12   MetLife  (14)   13   Erie  Insurance  Group  (15)   Weak  digital  presence:     Insurers  with  less  than  two-­‐thirds  the   standard  features  of  a  digital  presence   and  no  more  than  27%  of  the   differentiating  features   14   California  State  Auto  Group  (16)   15   National  General  (20)   16   Mercury  General  (13)   17   Mapfre  (18)   18   Auto-­‐Owners  (17)   19   Kemper  (23)  
  6. 6. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   What  changing  demographics  means  for  marketing   to  consumers   •  Gen  Z  and  Gen  Y   •  Interactions  with   Seniors  and  Boomers   Sources:  Aite  Group,  McKinsey  “Agents  of  the  Future”  June  2013  
  7. 7. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   What  changing  demographics  means  for  insurance   distribution   •  Graying  for  distribution  =   loss  of  crucial  knowledge  &   experience     •  How  to  attract  ‘high  skill  /   high-­‐will’  individuals  to  the   insurance  industry  ?   •  How  can  a  digital  insurance   industry  adapt  to  these   changes?   Sources:  Aite  Group,  McKinsey  “Agents  of  the  Future”  June  2013  
  8. 8. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   Making  it  real,  incorporating  digitization  into  your  systems     Commissions   and  incentives     Pending  new   business   In-­‐force     business  info   Producer     credential    service                                    Producer  data  warehouse   Performance     Reporting  and     modeling   Insurer  CRM,     pipeline   management   Agent  CRM/   self-­‐service   portal     Regulatory     reporting   Agent    new  business  activities   Onboarding      Quotes   Contacts      Illustrations   Campaigns          Needs     Leads                              E-­‐app   1.  Understand  performance   2.  Understand  activities   3.  Model  and  change  plans   4.  Monitor  compliance         Most  relevant  to  life  and  annuity   and  specialty  lines  P&C   Sources:  Aite  Group  “Next  Generation  of  Producer  Management  :  The  Race  is  On”,  Sept.  2014  
  9. 9. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   Managing  data  quality  is  key  to  high  performance  for  carriers       •  Clean,  accessible,  and  agreed  upon  data  is  a  critical  source  of  truth  &   knowledge  for  any  insurer.   •  Insurance  data  is  the  only  natural  resource   available.   •  The  quality  of  data   is  more  important  than   ever  as  the  precision  of  our   decisions  increasingly  relies  on  it.   •  Investing  in  data  management  with  an  emphasis  on  the  data  that  impacts   claims  is  crucial.  
  10. 10. ©  2014  Vlocity,  Inc.    ©  2014  Aite  Group   Successful  carriers  who  adapt  and  leverage  modern   technology  will  be  the  leaders  of  tomorrow   •  Understanding  the  pragmatic  use  of  digital  technology,  and  mobile   devices,  dynamic  infrastructures.     •  Finding  and  using  the  information  and  knowledge  currently  trapped  in  the   unstructured  text  fields.   •  Routing  information  to  the  right  stakeholder  and  alerting  management  as   early  as  the  situation  calls  for.     •  Engaging    potential  distribution  professionals  with  new  technology,  and   not  using  it  to  confront  established  producers.    
  11. 11. Using Technology for Good Brent Rineck, CLU, CPCU, ChFC Chief Information Officer ABD Insurance & Financial Services
  12. 12. Using Technology for Good Internal efficiencies lead to better customer service World class back office and agency management systems •  Seamless integration and workflow from proposals to service to claims •  Integrated platform •  Salesforce/Vlocity •  BenefitPoint •  AMS360 •  WorkSmart •  Client Portal •  Client Satisfaction (SatMetrix) 12
  13. 13. ABD: Integrated Platform 13 Mobile App for Producers Capture leads, prospects, and activities Client Portal View policies and initiate claims Reference Library Quickly access risk surveys, industry codes, and checklists Reporting Improve decision-making with data insights Carrier Uploads/ Downloads Connect with insurance carrier systems Comparative Rating Get real-time quotes from national and regional carrier inventory Sales Authorization Expedite licensing and renewals Workflow and Content Mgmt. Improve efficiency; increase agency capacity Benefits Management Manage clients, plans, policies Sales Automation Manage leads, opportunities, accounts, x-dates Agency Management System Clients, policies, and accounting
  14. 14. Data Flow to Vlocity 14
  15. 15. Using Technology for Good Innovative, client-centric use of technology Be in the know •  LinkedIn Premium •  Vlocity cloud and mobile apps •  Advisen Be better •  Best of breed partnerships •  DocuSign •  PlanSource •  Maxwell Health •  SmartBen •  Custom applications •  Foreign Clinical Trials Map •  Client dashboards 15
  16. 16. Using Technology for Good Ahead of the curve A blueprint for future applications •  Nimble and responsive •  Always proactive •  Extremely secure •  Always available Turning potential into practical •  Social networks •  Zero footprint, zero client •  Data analytics 16
  17. 17. ABD & Vlocity Access •  Real-time client, policy and contact information in Salesforce One and done •  No duplicate entry between Salesforce and back office management systems Client relationships •  Vlocity’s insurance vertical brings a new view into our client data through customer relationships, profiles, stories and tags Mobility •  Vlocity’s mobile platform makes it easy for producers to stay connected on the run Future •  Vlocity’s plans for future product features will help us meet many of our long-term goals for growth 17 Advantages and differentiators
  18. 18. VLOCITY  INSURANCE  
  19. 19. ©  2014  Vlocity,  Inc.     Vlocity  Insurance   •  Extends  value  of  Salesforce  Customer   Success  Platform     •  Out-­‐of-­‐the-­‐box  functionality  for  insurers,   brokers,  agents,  channel  managers,   wholesalers   •  Core  insurance:    policies,  annuities,   benefit  plans,  claims,  and  distribution   •  Insurance  Relationships:    Robust  Party   Model,  Householding,  Profiling,  and   Visualization   •  Mobile  First  iOS  Apps   •  Additive  to  Sales  Cloud,  Service  Cloud,   and  Marketing  Cloud  
  20. 20. ©  2014  Vlocity,  Inc.     Vlocity  Insurance  /  Salesforce  Industry  Solution   Policy  /  Benefits   Administration   Claims  Administration   Billing   Underwriting   Accounting  /  GL   Agency  Management   Insurance  Enterprise  Systems   Vlocity  Insurance  Single  View  of  Products  and  Services   Vlocity  Mobile  Insurance  Advisor   Vlocity  Insurance  Enterprise  Integration   Individual  Life,  Health,   &  Annuities   Personal  Lines   P&C   Commercial  Lines   P&C   Employee  Benefits  
  21. 21. ©  2014  Vlocity,  Inc.     Salesforce/Vlocity  Users   Vlocity  Insurance  Single  View   •  Understand  full  multi-­‐line  relationship   •  View  customer  touch  points   •  Handling  high-­‐priority  tasks   Tom Smith, Agency Territory Manager Bill Adams, Multi-Line Producer Vlocity  Mobile  Insurance  Advisor   •  Understand  producer  relationship   •  Flexible  profiling   •  Easily  create  call  reports  and  create  relevant   outreach  to  producers  
  22. 22. Q&A   www.vlocity.com   844-­‐VLOCITY   @vlocityinc  

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  • thaunghan

    Jan. 3, 2019

Slides from Vlocity webinar hosted with AITE Research, ABD Insurance for Insurance Carriers, Agents and Brokers. Brent Rineck, the CIO of ABD Insurance will discussed how they are successfully using Vlocity Insurance and Salesforce to gain a single view into their customer's insurance product portfolios to provide household level marketing, selling, and relationship management. Jamie Bisker, Senior Insurance Analyst, AITE Research discussed how to build the insurance distribution workforce of the future; retaining and recruiting a new generation of talent.

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