SugarCRM in the insurance vertical

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Presentation by OpenSymbol h from Italy on SugarCRM Partner Summit 2012

Transcript of SugarCRM in the insurance vertical

  • 1. SugarCRM in the Insurance Enrico Maggi, Opensymbol

2. ScenarioItalian distribution model (its similar to other countries) Agencies are linked to a specific insurance company Agencies are owned by independent entrepreneurs Rules are currently changing in order to increasecompetition 3. About us Opensymbol is the only SugarCRM Gold Partner inItaly (out of a total of 12) 25 employees (90% of which fully involved inSugarCRM) Focused in Insurance and Automotive markets Were one of the 12 Partner Advisory Board members 4. Goals Insurance companies want to: Retain good customers Turn bad customers in to good customers Conquest new good customers Mantain a good and loyal relationship with agencies Increase distribution model efficency 5. Goals Agencies want to: Retain customers Conquest new customers Get cost savings 6. Whats needed: customer information 7. Challenges Agents are not willing to share customer infos A new mentality is required Agents have low IT skill Ins. Companies are usually bigwith very slow decision processes 8. Opportunities Existing corporate IT solutions are: Old and user unfriendly Focused on policy, not customer Not integrated (different sw for different processes) Accessible just if you are inside the company network Agents are becoming aware that a change isrequired 9. Opportunities Social networks can help gathering fresh customerinformations New devices (e.g. iPad) are allowing easy access toinformations while in mobility New technologies help buildingrelationships 10. The solution: SugarCRM for B2B2C (or PRM) Close the gap between corporate marketingactivities and distribution network (partners) Close the gap between customer infos gatheringpoint (partners) and corporate marketing Reduce the digital divide that prevents agentsexecuting effective local campaign 11. The solution: SugarCRM for B2B2C (or PRM) Streamline all sales processes: Budgeting top down across the sales network Real time forecast Real time KPI All in one information system Streamline all backoffice processes 12. Remember: its not all about softwareMr. Marco Boni (Chief Marketing, Zurich Italy) interviewIl giornale delle assicurazioni(January, 2010) 13. The solutionMost of the data you can see contained in thefollowing SugarCRM screenshots are nightly gatheredfrom central DWH via an ETL and then properlyorganized and displayed for user convenience.The solution is a perfect mix between data comingfrom Corporate ERP and data that are created at CRMlevel. 14. The solutionTypically the insurance company offers different software applications toaddress different business needs. All the data is collected together into onesingle datawarehouse, and thats where we usuallly read data from Policy Policy ClaimsPayment issuequoting system systemsystemCompanyDataWarehous e 15. The solutionNightly differentialCompanydata loadsDataWarehous(Customers,ePolicies, Payments,Claims, Indicators)One single installationon the AmazonDatacenter (UE zones) Agency AgencyAgency AgencyAgency 12 3 n 15 16. The solution 17. The solution Screenshots 18. Different roles, different infos: Agent viewDay by day Agency Trend 19. Different roles, different infos: Agent view Agency Portfolio Overview 20. Different roles, different infos: Agent view Sellers detailsSales Force Management: the agent can overview his sellers 21. Different roles, different infos: seller view Day by day Sellers Portfoglio Trend 22. Different roles different infos: front office viewExpiringPoliciesTo do listCallsAppointmentsand meeting 23. Customer Profiling: 360customer view 24. Customer Profiling: 360customer view Customer detail view Personal data Insurance Information 25. Customer Profiling: 360customer viewOther Information 26. Amministrative and Operational ManagementInsurance policy detail view 27. Amministrative and Operational ManagementPremiums Collection Collection Data Commission Data 28. Amministrative and Operational ManagementClaims Detail ViewClaims Data 29. Sales ManagementOpportunity view Funnel 30. Sales Management 31. Marketing Management 32. Marketing Management Campaign List Campaign Activities 33. Marketing ManagementCampaign Monitoring 34. Agency Accounting System 35. Agency Accounting SystemAll financial record can be managedSome records are automatically updated (coming from central data) 36. Agency Accounting System: Cash FlowCheckDaily check between corporate data and agency data 37. Agency Accounting System: Cash RegistrationTotal per accountEasy cash record 38. Sales Team Commission ManagementCommission calculation (to help collaborators in invoicing process to the agency) 39. Benefits for the insurance company Popular functionalitiesCost savings More Income Marketing (HQ)DEM / Campaings Mass mailing (no external Increased campaign Redemption Analysis cost) effectiveness thanks to Link with agenciesLower need of scheduled redemtpion monitoring = more Propensity indicators communication with agencies contracts More focused target lists = higher conversion rate Propensity indicator drives more sales Sales (HQ, Area Top down target Lower need of scheduled Focus on agencies that need assigment communication with agents more help = more deals are Manager, SalesTarget monitoring Less travelsclosed Manager)Production monitoring Less phone callsBetter coordination = more deals Income monitoring are closed 40. Benefits for the agencies 41. Insurance UsersEurope 700 users1,200 users 100 users250 users 20 users1,350 usersgeplant