Driving Efficiency for Insurance Agents with Centralized Data System
Overview.
Client is a publicly held personal line insurer in the US, focuses on auto insurance, home insurance, life insurance, and business insurance while also providing investment and banking services. The insurer needed to improve agent productivity and streamline data access for small business insurance sales. Coforge's solution: a flexible, centralized system replacing spreadsheets that can be accessed on hand-held devices, offering faster data access and a user-friendly experience.
Here's a breakdown of the key challenges encountered:
Inefficient Spreadsheet based Storage System: Agents relied on outdated, state-specific spreadsheets, hindering access and reducing productivity.
Absence of Centralized System: Lack of centralized system that can be quickly accessed on hand-held device, made it difficult for agents to access data on the go.
Training Cost Burden: Training agents across different regions on complex spreadsheets was time-consuming and expensive.
Reduced Agent Satisfaction: Frustration with the manual system led to decreased agent morale and potentially lower sales.
Solution
Coforge addressed these challenges by developing a centralized system for the commercial and personal lines agents to help them quickly access data on hand-held devices. Some of the key highlights-
Discovery Workshops: Discovery workshops with C-level executives and line managers were conducted to understand what they wanted, and what aggravates them about the current system.
Centralized Data Storage: The app replaced spreadsheets, providing a single source of truth for all data.
State-Specific Access: The app dynamically displayed relevant information based on the agent's location, ensuring compliance. The developed system supported the sales of products in the allocated state of the agent.
Optimized Interface: User-friendly design allowed agents to quickly access data on hand-held devices, increasing efficiency.
Iterative Design: Regular design reviews and feedback loops, corresponding iterative modifications were carried out.
Mobile Technology Expertise: Coforge leveraged its mobile development expertise to create a robust, cost-effective and efficient application.
The insurer witnessed improvements in the overall productivity of the agents with the use of our flexible system.
The Impact
Agent Productivity Improved through faster data access
Agent Adoption 100% adoption by all agents
Training Costs Reduced due to simplified data access across geographies
Revenue Growth Increased through improved sales efficiency
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