InternetEnabled Contact Center: Superior Service

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Internet-Enabled Contact Center Superior Service
ROI
DMA Teleservices Conference

• 6/4/04

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Presentation Overview

• Who is the The Credo Group?
• Leveraging Internet Technology to Maximize ROI
  (Smokers Insurance Case Study)
• Incorporating Web-Based Tools to Deliver Sales
  Support (Instant-Issue Case Study)

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Who is The Credo Group?
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Who is The Credo Group?

• Nationally Licensed Life Health Insurance
  Agency
• Market Life Health Insurance Direct-to-Consumers
  
• Develop Web-Based Sales Platforms
• Leader in Simplified-Issue Insurance Sales Online
• Our Own Customer

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Who is The Credo Group?
Our Clients

• Mutual of Omaha
• Globe Life Accident
• AEGON
• AIG
• RBC Insurance
• ACE INA
• Prudential
• New York Life/AARP
• Fortis

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Web Technologies As A Foundation
Additional Channels
Web Broad Market
Call Center
DRTV
Direct Mail
Web Technologies
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Case Study Smokers Term Life Insurance
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Smokers Term Life
Program Objective Generate Quoted Leads for
Tobacco Users Interested in Term Life Insurance
Product Features

• Fully Underwritten Term Life
• Face Amounts up to 1MM Offered Online
• Ultra-Competitive Tobacco Use Rates
• Expensive Annual Premium
• Average Underwriting Time of 120 days

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Smokers Term Life
Program Overview

• Online Lead Generation
• Licensed Call Center Agents Close Leads
• Call Center Schedules Exams
• Agents Manage Individual Cases
• Non-Licensed Responsible for App Follow-up
• Non-Licensed Prepare Submit Apps to
  Underwriting
• Agents Handle Exception Processing

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Home Page
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Health Questions
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Quote Page
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Application Request
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(No Transcript)
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
Benefits

• Leverage Existing Web Technology
• Reduce Potential for Agent Error
• Accurate Quoted Premium
• Correct State Applications Forms
• Complete Applications
• Restrict Access to Licensed States
• Provide Real-Time Access to Customer Data
• Increase Agent Efficiency

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Call Center Admin Tool
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Cross-Sell Tool
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Call Center Admin Tool
Cross-Sell

• 2004 Program Revenue 11.85 from Cross-Sell
• 2004 Program Profit Margin 23.96
• 2004 Cross-Sell Revenue 50 of Profit Margin

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Case Study Instant-Issue Term Life Insurance
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Instant-Issue Term Life

• Goal Market a Simplified-Issue, High-Face Term
  Product that was Underwritten Online.

Product Features

• No Broad-Market Restrictions
• Face amounts up to 150,000
• No Exams, Only Health Questions
• Competitively Priced for Simplified Issue
• Underwritten in 15 Minutes or Less
• Coverage Binding Online

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Instant-Issue Term Life

• Question Will the Target Audience Transact Only
  Online?

Challenges

• Simplified-Issue Market Skewed Older
• Payment Options of EFT or CC
• Social Security Number Required
• Relatively Unknown Insurer (Direct Markets)
• Relatively Complex Product

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Instant-Issue Term Life

• Solutions Develop a Web-Based Sales Platform
  with an Call Center Administration Component

Objectives

• Make Phone a Secondary Option
• Provide Additional Support to Those Who Need it
• Test Call Center Need
• Easily Integrate Admin Tool into Existing Call
  Center Programs

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Home Page
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Quote Page
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Medical Questions
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Medical Questions
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Applicant Information
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Applicant Information
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Down-Sell Option
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Call Center Admin Tool
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Call Center Admin Tool
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Call Center Admin Tool
Benefits

• Minimal Development Resources Required
• Able to Leverage Existing Agent Resources
• Focus on Sales vs. Process Training
• Limit Access to Licensed States
• Provide Real-Time Access to Customer Data
• Central Location for Technology Changes
• Portable Solution for Marketing Partners
• Track Commission Payments by Agent

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Conclusion

• Web Technology is Highly Flexible
• Web-Based Tools Can Be Leveraged to Maximize ROI
• Web-Based Tools Can Help Support Service
  Initiatives
• Web-Based Tools are Inexpensive