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Creating & Managing a Small Commercial Department

Creating & Managing a Small Commercial Department. By Steve Anderson The Anderson Network, Inc. Your Agency?. Keys to Successful Management. Pick the right accounts Pick the right people Complete automation Streamlined procedures Aggressive lead generation. Why be concerned?. Retention

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Creating & Managing a Small Commercial Department

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  1. Creating & Managing aSmall Commercial Department By Steve AndersonThe Anderson Network, Inc.

  2. Your Agency?

  3. Keys to Successful Management • Pick the right accounts • Pick the right people • Complete automation • Streamlined procedures • Aggressive lead generation

  4. Why be concerned? • Retention • Customer loyalty • Lifetime value • Unique advantage

  5. Customer Relationship Management “We are entering an era of customer-centric business where the goal of the companies is to develop the customer relationship, not just service it.” Centrobe

  6. Select Right Accounts • Size • Standard market • Automated quoting • Upload/Download • Direct bill • Direct claims reporting

  7. Productivity • Revenue / CSR • Average: $100 to 150k • Best: $200 to 250k • Producer New Business • Average: $30k • Best: $60 to 100k

  8. The New CSR • Willing to sell/ask for referrals • Enjoys automation • Bonus compensation • Open to change

  9. Automation • Document management • Headsets • Rotational servicing • Automated procedures • Electronic non-standard forms • Transactions handled first call

  10. The Paperless Office — Myth or Reality • Why would you want a paperless office • To save time • Quickly find information • Lower cost for storage • Increase desk time

  11. Key System Requirements • Does not add to agency overhead • Easy and quick document retrieval • Fits into current agency work flows

  12. Key Questions • When do you scan? • Who does the scanning? • Where is the image stored?

  13. When do you scan? • When the mail comes in • At the desktop • After the work is completed

  14. Who does the scanning? • Receptionist • CSR at the desktop • Scanner Person

  15. Where is the image stored? • Attached to Client file • Separate image database • Network folder

  16. Document Management Software • CBDScan (www.cbdi.com) • LCS Image Edition (www.lcsconsulting.com) • Lumtron (www.lumtron.com) • Apres Systems (www.etfile.com) • DocStar (www.docstar.com) • PaperPort (www.scansoft.com)

  17. Hardware issues • Scanner • Hard disk storage • Individual workstations • 17" or larger monitor Dual monitors

  18. Dual Monitors

  19. PaperPort • Print to “desktop” • Combine different documents

  20. Forms Processing • Scan existing blank form • Software converts form to fill out • Creates a database of form fields • Allows you to stop using that last typewriter

  21. OmniForm Allows you to create electronic forms from existing paper forms www.scansoft.com

  22. Streamlining Procedures • On contact service • Screen leads • Redirect undesirable prospects • Limit remarketing

  23. Making it work • Flag client files • Route calls to center • Maintain policy detail via download • Discontinue all in-house transactions

  24. Rethinking • How we price the products we deliver • What the coverage we include • How we deliver our product

  25. Service options • Service centers • Company based • Agency based • Agency Service centers • Rotational servicing • Web based servicing

  26. Client Service Center • Improve productivity • Improve profitability • Reduce expenses • Use resources for sales • Cross-selling, Lead generation

  27. Facilitating the Transition • Flag on client screen • Route calls directly to service center • Don’t do any transactions in agency • Maintain policy detail using download

  28. Download is happening

  29. Download Definition Download is the process of extracting business data from a carrier’s data base, formatting it into ACORD standards, and electronically transmitting that data to an agency for merging into the agency management system database. Download is an electronic transfer of insurance business data between computers.

  30. Download Problems • Not all, or not enough, data is provided in download • Data is truncated and “overflow” data goes into “notepad” or “remarks.” • Agency data is not protected. • Vendors and carriers don’t upgrade systems and versions quickly enough. • Carriers handle the data inconsistently.

  31. Problems Continued • Vendors handle the data inconsistently. • Not all commercial policies are suited for download, but it’s all or nothing in most cases today. • No entry into agency management system transaction/activity log. • Agents need to educate themselves and prepare for download.

  32. Real-Time • Started with AUGIE Mandate • First Steps • Billing Inquiry • Claims Inquiry • Policy Inquiry • Progress

  33. Transformation Station October 2002 100 agents 8 carriers December 2003 3,000 agents 30 carriers TransactNOW March 2003 8 Carriers December 2003 2,200 agents 24 Carriers Real-Time Progress

  34. SIS – Web Link DORIS – Bridge-IT Ebix Inquiry Applied – Web Bridge Nexsure eServices Other Options

  35. The Internet… is simply a communication system that allows anyone, anywhere, anytime to communicate with someone else in a standard format so that both parties can understand each other.

  36. Finding new markets • MarketScout.com • SuperiorAccess.com • ProgramBusiness.com • AgentSecure.com • InsuranceNoodle.com

  37. Application Service Provider Lets you throw yourcomputer systemout the door.

  38. ASP Advantages • Focus on core business • Reliable computing • Predictable costs • Capital expenses reduced • Challenges deploying products • Skills retraining

  39. ASP Disadvantage • Data not in agent’s office • Always on Internet connection

  40. Examples • AMS 360 • AfW Online • Sagitta Online • Applied TAMCentral • EbixASP • DORIS Fileserver • NexSure

  41. Electronic Submission • Agency Based • PaperPort • Web Based • AvantAgent.com • RiskClick.com • CBD Document Center (www.cbdi.com)

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