Leading the Insurance Industry with On-Demand CRM

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Leading the Insurance Industry with On-Demand CRM
Track Financial Services

• John Caine, The Phoenix Companies
• Lisa Lawrence, Liberty Northwest Insurance Corp
• Sal Caruso, salesforce.com

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Agenda

• Welcome Introductions
• Phoenix Case Study
• Liberty Northwest Insurance Case Study
• Extending CRM to your agents
• Q A

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CRM Challenges facing Insurance Companies Today

• Moving from a direct to independent agent model
• Offering a wider range of products to drive
  revenue
• Lacking a unified view of the customer
• Accessing multiple legacy systems for key data
• Having poor or ineffective tools to manage the
  relationship with producers and clients
• Regulatory Compliance

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Customer Success in Insurance
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John Caine
Director, Technology Strategy
john.caine_at_phoenixwm.com
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The Phoenix Companies, Inc.

• 155 years old
• IPO in 2001
• Manufacturer and wholesaler of financial services
  products
• Life Insurance Division
• 85 wholesalers, 11 regional managers, 80 sales
  support staff
• 5 custom apps, 33 custom objects, 20 custom tabs

INDUSTRY Financial Services
EMPLOYEES 1,200
GEOGRAPHY United States
USERS 210
PRODUCT(S) USED SFA, 1 AppExchange partner
(ExactTarget), AppExchange API
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Phoenix Key Challenges

• Business Challenge
• Evolving business model
• Large sales territories
• Regional inconsistencies
• Technology Challenge
• Legacy environment
• Offshore software development
• Outsourced technology infrastructure

• Rapid change
• Inefficiency
• Flying blind no pre-sales/pipeline metrics

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Phoenix The Solution

• How did we address the challenges?
• Identified captured key metrics
• Integrated with legacy data stores
• Focused on positive user experience
• Designed tools to collect data transparently
  (while helping users)
• Re-positioned technology emphasis

DEPLOYMENT DETAILS

• Unlimited Edition
• 210 users
• 4 AppExchange API integration points 2 Web
  integration points
• Used by sales, marketing
• Mobilizing to Blackberry in Q4

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Phoenix Results

• What were the results?
• Key development efforts in half the time, 25 the
  cost
• Better visibility into pre-sales activity
  pipeline (illustration to application to offer)
• Broad user and executive support 96 adoption
• 2005 - sales grew 33

Our old (J2EE) process Salesforce.com
TIME COST
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Lisa Lawrence
Sales Resources Manager
lisa.lawrence_at_libertynorthwest.com
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Liberty Northwest Insurance (LNW)

• Part of Liberty Mutual Group
• Since 1983, HQ in Portland, Ore.
• Offer business consumer insurance
• Commercial auto, property liability
• Personal lines
• Workers compensation
• Distribution Direct Agency

INDUSTRY Insurance
EMPLOYEES 1,000
GEOGRAPHY Northwest Region (AK, ID, MT, OR WA)
USERS 80 86 login rate
PRODUCT(S) USED Enterprise Edition, SFA, 11
Custom Objects, 11 Custom Tabs, Applications
Downloaded Exact Target
USER GROUP LEADER Portland
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Challenge No Visibility Into Sales Rep Activity

• Reams of inadequate quarterly reports
• Delayed notice of deal status
• Scheduled servicing eventsin Excel spreadsheets
• No uniform lead qualification
• Added complexity of multi-channel distribution
• No documented client activity
• No evidence that sales reps use selling
  methodology
• Sales tracking uses a paper transmittal system

Inability to focus sales efforts, poor activity
management!
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Create 360-Degree View of Sales Rep Activity

• Customize Salesforce
• Use out-of-the boxfunctionalityBig bang
• Dashboards, customize layouts, custom
  objects,Office Outlook Editions,Excel
  Connector, activity history, custom reports
• Implement best practices
• Company initiatives
• Unique business processes
• Selling methodology
• Create monitoring tools
• You cant managewhat you dont measure!

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Liberty Northwest Solution 360-Degree View
Create Multiple Views

• On the Spot View Instant Notices

• Detailed View Drill into Data

• Summary View Manage Activity

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360-Degree View Prospect Qualifying Activity
Increased visibility

• Insight into sales rep ranking rationale
• Targets prospects with greatest LNW fit
• Zeros in on clients pain
• Viewed easily by others
• Identifies performance gaps

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360-Degree View Client Interactions
Increased visibility

• Log of client sales rep interactions
• View upcoming appts
• Log of completed planned servicing events

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360-Degree View Sales and Renewal Production
Increased Visibility

• Keeps appropriate staff in communication loop
• Deals at risk
• Single source for results
• Actual against goal

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360-Degree View Client Relationships
Increased Visibility

• Servicing team
• Agency partners
• Account hierarchy
• Key decision-makers

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Liberty Northwest Results

• Increased visibility
• Everyone can access the data they need, when they
  need it
• Can view results online, in real-time, and get
  immediate notifications.
• Sales managers report results from a single
  place.
• Increased productivity
• Standard processes focused sales rep activity
  more efficiency.
• Less time spent looking for information.
• Eliminate deal-tracking transmittal process
  dedicated staff position.
• Better decision-making
• Objective prospect ranking and evaluation
  process.
• Use trending analysis to be more competitive
  responsive.
• Conducting performance reviews using Salesforce.
• Use predictive modeling.

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Sal Caruso
Principal Solution Consultant
scaruso_at_salesforce.com
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Why Partner Relationship Management (PRM) for
Insurance?

• Over 150,000 independent agents

Common Agent Management Challenges
Loyalty and mind-share New product
introductions Visibility to sales
activity Productivity
Products mostly sold through independent agents
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Introducing Salesforce PRM
One Pipeline. One Application. One Salesforce.

• Consolidated Visibility
• Increased Agent Adoption
• Complete Agent Lifecycle Management
• Optimized Agent Coverage
• Global Agent Program Management

My CRM
My SFA
My PRM
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First Point and Click Customization for Agent
Portal
Customize with Clicks not Code
Brand

• Custom Branding
• Custom Messages
• Custom Tabs
• Custom Layouts
• Custom Lead Forms
• Custom Fields
• Custom Help
• Custom Workflow
• Customize Anything!

Tabs
Help
Message
Fields
Workflow
Layout
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Complete Producer Agent Lifecycle
ManagementIncrease agent effectiveness
Market
Sell
Measure
Recruit
Automate Recruitment
View Every Metric
Improve Effectiveness
Generate Loyalty

• Sales Analytics
• Agent Production
• Dashboards
• Data Quality Management

• Lead Management
• Agent
• Communications
• Funds Budgeting Management
• Document Management

• Client Registration
• Opportunity / Case Management
• Activity Management
• Policy Management
• Workflow

• Agent Recruitment
• Agent Account Management
• Producer Training
• Producer Territory Plans

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PRM Demo

• Key Workflows
• Agent Profile Management
• Opportunity / "Case" management
• Producer agent training
• Product and process updates
• Producer licensing management
• New agency registration
• Key Benefits
• Gaining a unified enterprise view of customers
• Driving agent pipeline
• Fully integrated partner programs

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QUESTION ANSWER SESSION
John Caine
Director, Technology Strategy
Lisa Lawrence
Sales Resources Manager
Sal Caruso
Principal Solution Consultant
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