Customer Acquisition 101: Grading Insurance Carriers
[ Source: Leads360 - Sales Software ]
July 2011-
Leads360 commissioned a "secret shopper" experiment to gauge how effectively insurance carriers respond to online inquiries. After collecting data to measure the consumer response strategies of a sample of 10 carriers, Leads360 compared it against established best practices and then assigned grades based on the performance of 4 Key Performance Indicators (KPI's). Although the performance of the sampled carriers varies widely, the results indicate that the consumer follow-up strategies employed by the average insurance carrier ...
Eight Steps to Exceptional Customer Experiences for Property and Casualty Insurers
[ Source: Cincom Systems ]
June 2011-
This white paper outlines the eight steps and explains how they are being applied by P&C insurance carriers to meet today's difficult customer-experience challenges. By adapting these best practices to their own specific situations, insurers can fulfill rising customer expectations, comply with internal mandates, improve staff morale and gain deeper insight into conditions that impact the insurer's mission-as they increase revenues and reduce costs.
ImageNow for Insurance: Speeding & Simplifying Line-of-Business and Administrative Processes
[ Source: Perceptive Software ]
March 2008-
This wide-reaching catalog illustrates how ImageNow meets the enterprise-wide needs of today’s insurance market. From claims processing to policy services to AP and HR, customers worldwide use ImageNow to speed and simplify line-of-business and administrative processes alike, and this booklet explains how.
ImageNow integrates with existing to deliver supporting documents – everything from policy applications to first notices of loss to invoices – with just a single click, directly from the software applications employees use daily. ...
Virtual Office for Insurance Carriers Creates Cost Savings
[ Source: CGI ]
March 2011-
Today more and more insurance companies are demanding systems that support, or enhance, their virtualization strategy. Systems must not only enable “work from home” or telecommuting programs, but are expected to be available anywhere and anytime.
The insurance agent expects to be able to connect to a system in the office, at home, at a coffee shop, or even on the golf course. As technology advances enable our ability to access information anywhere, ...
Driving Business Growth with Integrated CRM
[ Source: NexJ ]
June 2011-
Insurance organizations are mandated to comply with increasingly stringent compliance, administrative and reporting requirements. This leaves agents and brokers spending time performing cumbersome administrative tasks rather than focused on revenue generating activities. <br><br>
An integrated approach to CRM can provide organizations with a cost-effective and efficient method of leveraging enterprise customer data stored in legacy and back-office systems. It combines customer profile, interaction and policy information to present agents with ...
Clearing the Policy Conversion Hurdle: Life Insurers Share Strategies for Moving Large Blocks to New Systems
[ Source: CSC ]
April 2009-
Why do most life and annuity companies still maintain policy administration systems that are 20 to 30 years old? One of the biggest obstacles they face has very little to do with technology. It has more to do with the difficulty of converting large blocks of policies from the old system to the new one.
Unlike property and casualty policies, which renew every six months to a year, life insurance policies can remain in force for 50 years — ...
Smarter Underwriting: New Strategies for Cost Control and Pricing Precision Using Decision Management
[ Source: FICO ]
January 2010-
Today insurance carriers are extending the efficiencies achieved through back office automation to point-of-sale (POS) decision making across all channels, including self-service websites, in-house sales and agent/distributor networks. New Decision Management solutions not only facilitate straight-through-processing, by improving the quality of inbound data, they also increase the accuracy, objectivity and consistency of underwriting and application decisions, even when business volume is rising rapidly. In addition, by providing deeper insights into loss risk, Decision Management ...
MAIL360 -- Leveraging the Value of Intelligent Mail Technology
[ Source: Pitney Bowes Business Insight ]
September 2008-
Starting in fall 2009, bulk mailers will be required to use Intelligent Mail® barcodes to qualify for the lowest postal rates. Besides lower postal rates, Intelligent Mail® benefits include address correction, virtual return mail, tracking and delivery confirmation. This new technology also allows you to embed data into the barcode that provides you specific information, unique to every single piece of mail sent.
MAIL360™ is the most comprehensive solution in the industry to leverage the value ...
Best Practices for Leveraging Business Analytics in Today’s and Tomorrow’s Insurance Sector
[ Source: SAS Institute ]
January 2009-
The use of business analytics continues to permeate the insurance marketplace. This report shares the insights of industry thought leaders as they describe the cultural, organizational, technological and personnel challenges required to more broadly adopt and utilize business analytics. New technology capabilities, business models and data sources are constantly emerging. The successful organizations will be those that concentrate as much on the implementation and deployment of business analytics as on the technology itself. For these ...