Once we discover the technique of redesigning the business process as building blocks with a service-oriented mindset, transformation is next. Let’s imagine a world set apart from the competition that increases value, and enhances customer and employee experiences. How do we define the process and create the experience?
The way is to flip the organization and put the end-to-end process and insurance value chain on its side. Rather than thinking in terms of systems and applications and the old insurance value chain, think in terms of what an agent does to complete the process. Look at it from a different viewpoint: the customer,—clearly define through their eyes, their wants and needs. To do this, insurers must rethink and even re-experience.
Agent perspective: An insurance quote process can be personalized so that independent agents can receive real-time quotes over their preferred communication channel, including Web portal, B2B connections, hand-held devices, automated phone response systems, or other channels. Furthermore, an agent has access his or her own customized services portfolio, subscribing and unsubscribing to available business services as needed. With a few clicks, the agent can get information on new products, view policy and quote status, and take action on open items.
Being able to easily customize agent services for different services levels, such as priority straight-through-processing for highly valued premium agents is a must. Services can also be delivered from multiple insurance lines such as auto, home, and commercial while providing the same uniform and consistent user experience. Greater productivity for the agent means greater profit potential, including the flexibility for the agent to reach the insurer anytime, from anywhere.
At the same time, you can internally track agent activity—monitoring it from customized performance dashboards. That way, agents can be quickly and easily rewarded for high-volume sales with additional agent benefits and higher service levels. You provide flexible access, tailored interactions, allow agents to be more productive, and reward loyalty with higher levels of agent benefits.
This is an excerpt from a recent whitepaper “Insurance: Realizing the Full Potential of Change Shifting the mindset to create dynamic business models by leveraging BPM and SOA as true enablers” authored by Deb Smallwood & Cindy Maike, Co-founders of Smallwood Maike & Associates and published and sponsored by IBM. Contact Deb Smallwood at dsmallwood@smallwoodmaike.com for a copy.
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