Drive More Growth with Agency-Company

Transcription

1 Drive More Growth with Agency-Company Interface Automation

2 Drive More Growth with Agency-Company Interface Automation Today s Agenda Introduction Agency Company Interface Download Real-Time Statistics Question & Answer Mark Gordon Group VP, Property & Casualty Mark.Gordon@ivans.com

3 IVANS Has Over 25 Years of Insight and Expertise in the Agent-Carrier Workflow Founded in 1983 by 21 Insurance Companies Provides managed network services to property-casualty, healthcare and retail markets IVANS community represents an unparalleled network of carriers and agents: 350 property-casualty customers 30,000 independent agents IVANS is headquartered in Stamford, CT, with offices in Tampa, FL and Cincinnati, OH. 3.

4 IVANS Provides Technologies and Expertise that Facilitate One One-to-Many, to Many, Many-to-Many Many to Many Communications Over 350 P&C carrier customers 30,000, independent p agents g 200 payers 135,000 providers 4 Real-Time Download Consulting Services Compliance Reporting IVANS LIME for Providers Networking Services IVANS LIME Access Points Data Solutions IVANS LIME for Payers Strategic Consulting 6,800 Broadband VPN sites managed

5 IVANS Has Unparallel Experience in Driving Growth for the Property-Casualty Community Proven Track Record End-to-End Solutions 5 ACE Certified System Real-Time Connectivity and Specialists Development Service / Inquiry Transactions IVANS software integrated with approx. 40 Agency Management Quoting Systems Download Personal / Commercial Lines Over 200 Commercial Lines Direct Bill Commission Statement Implementations Claims Download 30,000+ agents download every month ACORD Activities & Notes / Alerts Attachments P&C 360 Consulting Services Manage 8+ million transactions every month Auto Liability Insurance Reporting / Online Verification

6 Changes in Property-Casualty Business Objectives are Prompting New Technology Investments Soft Market is a catalyst for carriers' increasing technology investment to streamline workflow, improve operational efficiency and control costs Carriers are investing in technologies that facilitate quick responses to customers and agents Heightened consumer expectations for information accessibility are creating online data requirements Leading IT Projects for Carriers in 2011 Policy administration Agent portal with e-app Business intelligence: repository and reporting Claims workflow and management Claims adjusters need to access business critical ca systems s from anywhere e Source: Novarica 7

7 Putting Download and Real-Time Together for the Round-Trip Increases Benefits for Carriers and Agents Carrier Makes carrier easier to work with, increasing agencies willingness to write business with that carrier Reduces processing time by eliminating duplicate entry Reduces errors Decreases calls from agencies Can help with initiatives iti to go paperless Agent Promotes ease of doing business Enhances customer support by providing fast, accurate access to customer data Provides a single workflow for all transactions, reducing training Improves E&O loss control Eliminates i duplicate entry Reduces processing time, which allows the agencies to focus on selling and marketing 8

8 IVANS Agency Company Interface Helps Improve Customer Service and Build Agent Relationships IVANS Agency-Company Interface solution is: Download via IVANS Transformation Xpress Synchronizing policy information on the carrier system with the agency s system to ensure both have up-to-date information Real-time processing via IVANS Transformation Station SM Allowing an agent to access policyholder information and resend individual download policies from a carrier s database in real-time Data exchange via IVANS E-Commerce Server Providing a two-way, data repository for carriers and agents to send and receive information 9

9 IVANS Seamless Download Process Allows Agents To Receive Policy Data Directly Within Their System IVANS Download 10. Transactions: Policy Issuance Endorsements Renewals Alerts / Activities and Notes Cancellation Changes Re-instatement Claims

10 Personal Lines Download Volume Is Increasing On average over 7 million Personal Lines policy transactions ti are downloaded every month Line of Business % Growth Jan to Jan Flood 58.9% Personal Umbrella 22.6% Dwelling Fire 21.3% Homeowners 16.4% Personal Automobile 11.7% Source: January 2011 ARS data 11

11 Commercial Lines Download Volume Is Increasing On average over 500, Commercial Lines policy transactions are downloaded every month Line of Business % Growth Jan to Jan Commercial Umbrella 85.6% Commercial Package 56.5% Commercial Automobile 31.6% Workers Compensation 27.4% Business Owners 16.7% General Liability 6.2% Source: January 2011 ARS data 12

12 Why is Commercial Download Increasing? The industry has focused on improvements and education around Commercial Download, including: Implementation of minimum data guidelines Identification of workflow improvements, for small and midsized commercial business Tools to improve the agency experience including a Start-up Guide Webinars Carriers have made significant improvements to their existing implementations and there are also many new implementations It s a great time to get involved and start realizing the efficiencies that Commercial Download can bring your agency 13

13 Claims Download Is Experiencing Rapid Growth 32 carriers have implemented Claims Download since % Agent Usage Growth (2010) 350% Transaction Growth (2010) 45% Carrier About 2,500 Agents Usage Active for Claims Growth (2010) Download in January 14

14 IVANS Continues to See Growth in New Customers as well as Future Projects 30 new carriers joined IVANS in 2010 (Total carriers now 351) 40 carriers have turned to IVANS to help with plans to implement Commercial Lines Download 10 carriers have been discussing with IVANS rolling out Claims Download Direct Bill Commission Statements are another area of focus for carriers 15

15 IVANS Real-Time Allows Agents to Access Information in the Carrier s System IVANS Real-Time Transactions: Inquiry & Quoting Service Endorsements Rating First Notice of Loss 16.

16 Inquiries are the Leading Real-time Transaction in Terms of Overall Volume Inquiries account for the overwhelming majority of the transaction volume, with Billing and Policy inquiry as the top two transactions used by agencies 0.5% 0.9% 8.2% 2.7% 9.8% Quoting represents 12.5% of the transaction volume 77.9% Endorsement Bridging represents 8.2% Agent Service Representatives are saving 30 minutes per day with the real-time workflow (GetRealTime.org) Alerts 1st Notice of Loss Endorsement Bridging Commercial Lines Quoting Personal Lines Quoting Inquiries i 17

17 IVANS Download and Real-Time Transaction Reports Illustrate What Agents are Using Sample Download Report 18

18 The Next Steps to Move Forward with IVANS Agency Company Interface Agency Survey Identify systems and capabilities Agent List to IVANS Identify agents already actively interfacing with other carriers Lines of Business Identify which lines of business can be automated Transactions Identify which transactions can be automated Release Schedule Define Agency-Company Interface release schedule 19

19 Major Steps in Implementing IVANS Agency Company Interface Initial Project Planning Provide Copy book/record structure Translation Development Process Extract- Mapping-Translation Implementation Phase Set up-training Certification Process Send evaluate correct download files Testing and initial implementation Pilot agent implementation 20

20 We Look Forward to Working With You in 2010 Please Contact Me with Any Questions *Special Promotion: Sign-up by April 15th to Mark Gordon implement pe e Personal eso Lines, Commercial Lines, or Claims Group VP, Property & Casualty Download to receive 10% off Mark.Gordon@ivans.com IVANS software and services work. Information & Resources for Insurance Carriers: Go to 21