Reaching Out: Building New Channels to Agents, Brokers

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Reaching Out Building New Channels to Agents,
Brokers Small Businesses

• Carrier Agent Extranets Overview
• Matthew Josefowicz
• Using Technology to Improve Agency-Carrier
  Relationships
• Laurie Branch

The Iroquois Group
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Carrier Agent Extranets Overview

• Matthew Josefowicz
• Celent Communications
• Washington, DC1st October 2002

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Agenda

• Web-enabling Agents
• Overview of Agent Extranets
• Agent Extranet Case Study Zurich Small Business
• Summary, QA

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Advantages of Web-enabling Agents

• Speed delivery times
• Cut costs
• Reduce re-keying errors
• Reduce incomplete application submission
• More time selling, less time prospecting

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Two Primary Models

• Single Carrier Agent Extranets
• Multi-Carrier Networks/Intermediaries

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Agenda

• Web-enabling Agents
• Overview of Agent Extranets
• Agent Extranet Case Study Zurich Small Business
• Summary, QA

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Agent Extranets Opening Systems to Agents Over
Secure Web Channels
Source Agent Extranet Overview (December 2001)
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Sample Agent Extranet Functionality
Source Agent Extranet Overview (December 2001)
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Agent Extranet Overview (December 2001) Figure
2 Service-Delivery Compression
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Agent Extranet Overview (December 2001) Figure
3 Average Cost Reductions Realized Through Agent
Extranets (US)
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Agent Extranet Overview (December 2001) Figure
4 Current Agent Extranet Functionality at Top
100 P/C and L/H Carriers
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Agent Extranet Implementation

• Needs Analysis
• Workflow Impact
• Technology Decision
• Training and Driving Adoption
• Maximizing New Opportunities

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Agent Extranet Overview (December 2001) Figure
7 Agent Extranet Technology Decision Tree
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Top Vendor Selection Criteria

• Functionality
• Previous Relationship
• Cost
• Underlying Technology
• Team
• Company Details

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Agenda

• Web-enabling Agents
• Overview of Agent Extranets
• Agent Extranet Case Study Zurich Small Business
• Summary, QA

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Zurich North America Small Business

• Member Zurich Financial Services Group
• Provider of Commercial PC Products
• 350,000 Small Business Customers
• 12,000 Independent Insurance Agencies
• 51 Field Locations/300 Account Executives

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eZSB Development

• Large number of low premium transactions
• 1997 - IT Proposed Web Solution for Builders Risk
  product
• 1998 - Platform introduced to agents
• 1999 - Decision made to add other products
• 2000-2001 - All products web-enabled and
  implemented nationwide
• Implementation of eZSB was a core organizational
  objective

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System Features

• Quote, issue and endorse policies in minutes
• Generate customer proposals
• Access underwriting guidelines and policy
  forms/eZ support
• Set up billing plans/obtain billing status
• Claim reporting
• Order marketing materials and supplies
• Centralized web support

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Driving Adoption

• Core organizational objective
• 62 rally meetings across country with senior
  execs
• 350 local and regional half-day training
  workshops
• Active outreach program
• Advertising campaign
• Becoming a training organization
• Focus on agency CSRs as well as agents

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Adoption Rate
Figure 2 Registered Agencies and Users for eZSB
at the End of Each 6 Month Period
Figure 3 Percentage of New Business Policies
Originated Online for Each Preceding Period, by
Type
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Benefits

• Improved agency productivity/margins
• Months-to-Minutes
• Ease of Doing Business
• Scaleable Business Model for ZSB
• Reduced holds dramatically

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Key Points

• Education and Training is Marketing
• Consider all stakeholders
• Be prepared to take advantage of new
  opportunities
• e.g. underwriting improvements

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Agenda

• Web-enabling Agents
• Overview of Agent Extranets
• Agent Extranet Case Study Zurich Small Business
• Summary, QA

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Summary

• Web-enabling agents is providing efficiencies to
  both carriers and agents
• Carriers and agents should take advantage of
  these new efficiencies or risk losing out to
  those who do.

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Thank You!Questions?

• Matthew Josefowicz
• Senior Analyst
• Celent Communications
• www.celent.com
• mj_at_celent.com
• 212-490-2224