Beyond Portals in LIfe and Final Expense Insurance

Beyond Portals in Life Insurance

Ori FishlerDirector, Web SolutionsDerek SharronBusiness Development Manager

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► Beyond Portals – Multichannel communications and collaborations

► Customer► Agent► Employee

Agenda

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Insurance Web Communication and Collaboration Landscape

PolicyHolder

AgentInsurer

Public Website / Mobile Rendering

Agent White Label Client Self Service

Agent Portal

Policy Holder Portal

Employee Portal

Agent Mobile Selling tools

Agent Mobile Site / App

Policy Holder Mobile App

Beyond PortalsCustomers

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The Evolving definition of customer portal

ProspectSales

ApplicationQuote

Underwriting

Policy Holder ServicesRenewal

Claims

Customer Portal

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► Easy to use► Addresses MY NEEDS, Helps me

decide► Seamless shopping experience► Available Anytime, Anywhere► From any device► Portal that allows me complete access

and control over my policies, benefits, etc

► No need to talk with customer service!

Increasing customer expectations

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Life Insurance Customer Service Maturity Curve

Customer Section in site• Public Information• Start a quote • Phone based

service• Claim forms

Simple Customer Self Service Portal• Secure Login• Policy information• Planning tools• Forms to print• Update address• Update contact• Pay bill – set EFT• Improved Customer

Service Technologies:• IVR• Chat

Customer Self Service - Advanced• Update beneficiaries• Add Products • Manage financial

information• Loan request• Payment history• Improved Customer

Service Technologies:• Mobile sites• Screen Sharing• Social Service• Mobile

Applications• E-delivery of disclosures

and bills

Integrative Experience• Simple profile with quote

request / application• Collaborative Workspace

through medical and underwriting

• eForms / E-signatures• Full Policyholder services

online• Claims management online• Upsell / Cross sell• View policies across business

lines• Business Process

Automation technologies• Building a community

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► % Increase in new quotes requested► % Increase in value of policies► % Increase in conversion rate► % of policy holders that have registered for the Portal► % of reduction in calls to customer service► % Reduction in costs associated with printing and emailing

documents► % Increase in customer satisfaction► % Increase in policy holder retention ► % Increase in on-time payments► % Increase in purchase of additional products

Key Performance Indicators and ROI Measures

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► Where to put the login wall?► What actions users should NOT be able to do online?► How to build cross sell, upsell and education into the process?► How to get users to use the portal?► Importance of mobile► Integration of social service

Key Considerations

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Examples from other industriesGeico Auto Insurance: 100% control

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BCBS of TN: Focus on the Consumer

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User Friendly Portal

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Ecommerce level analytics

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Life Insurance ExamplesBefore Login After Login

Printable Forms

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Blurring the lines – Good or Bad?

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Complete e-forms experience

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► Education and Customer Life-stage/ Need focused site► E-commerce flow and analytics► E-applications, tablets for agents/ nurses, co-browsing for CSR’s► Collaborative workspace Customer interactions and service

through medical and underwriting► Social and mobile customer service channels► Value added services and content to encourage retention► Marketing programs driven by Customer Intelligence

Beyond Portals

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Social CRM

Consumers, Bloggers, Dieticians• Questions• Problems• Positive feedback• Dietician interactions

CRM Generates• Email responses • Coupons• Refunds• Follow-up reminders

Beyond PortalsAgents / Brokers

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► End to end web and mobile tools so agents do not need to call.► CRM: the ability for agent to manage, interact and provide service► Mobile: the ability to identify, educate, sell and complete a policy

at a customer home.► Lead Generation► Social Service► Proactive Communications

Agent Interaction: Key Trends

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Life Insurance Agent Enablement Maturity Curve

Agent Section in site• Public Information• Start a quote • Phone based

service• Claim forms

Simple Agent Communications & Self Service Portal• Secure Login• Enter new Policy• Policy search &

information• Planning tools• Forms to print• Pay bill – set EFT• Commissions• Messages

Agent Self Service - Advanced• CRM: View all customers

and be able to communicate with them

• Ability to do a policy and submit for approval in one sitting

• E-forms,E-signatures• View policy status and

manage interactions with Prospect

• View claims and status• Proactive alerts• Simple mobile tools –

Education and Planning

Integrative end to end Experience• Full Agent services online• Collaborative Workspace

through medical and underwriting

• Integration with external data such as Funeral Homes

• Customer eForms / E-signatures

• View policies across business lines

• Business Process Automation technologies

• Social service• Advanced mobile

applications with offline mode. Ability to complete a policy and submit from customer home.

• Location based services

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Multisite Integrative Approach

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Business Applications, Data, Content, People

Public Policy Holders Agents Employees

Information Management Content Mgmt. Targeting Doc.

MgmtSecurity &

AccessCollaboration

Enterprise Search

Web Analytics

Quoting Policy Admin Claims Billing Commission

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JH SalesNet – Focus on education and Sales Tools

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CRM based applications for Agents

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Most current iPad apps are for education planning

Beyond PortalsEmployees

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Next Generation Employee Portals: Social

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MOOG: Enterprise 2.0 Strategy and Implementation

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Customizing Functionality - Apps

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► Thinking overall interactions, on and beyond portals► For each audience – what are the best ways to interact► Improve user experience and analytics across the board► Data and legacy system constraints

Summary

Q&A

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Customer

Service

Campaign Mgt.

Email Tracking

Unstr. Data

Other Trans.

Social

Media

Data

Web Analytics Data

Data Integration & Distribution

Hub

DataQuality

De-DupProcess

Data Cleansing\Formatting

DataStandardization

Bus.Rules

DataLoad

Data Aggregation

Data Transformation

CustomerExp.

CustomerAnalysis Web

Activity

CampaignMgt.

Cross- Channel

KPI

Add’lSubjectAreas

Centralized Customer Repository (CRM)

CustomerExperience

AnalysisMarketingCampaign

Effectiveness WebEffectiveness

Analysis

InternalCustomerAnalysis

Soc. MediaEffectiveness

Analysis

Cross-SellUp-Sell

Marketing

Customer Intelligence Platform

Customer Intelligence Framework

Web Services Reporting Services

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► Derek Sharron► Business Development Manager► Dsharron@edgewater.com► 978-407-7160

Contact Information