Tag Archives: communication

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Data Wants to Be Free

A recent article in National Underwriter listed the top 10 technology trends for insurance companies. One of the trends was “Web Services and SOA Tools.” Here is how this trend was described:

“P/C insurers operate a large ecosystem of systems and applications that integrate for seamless processing. In the past, companies had to hard-code integration between systems, which was costly, time-consuming, created challenges when applications were replaced and integration had to be redone, and was often difficult to overhaul due to technology incompatibility. The use of Web services/service-oriented architecture (SOA) enables companies to deploy services instead of using one-to-one integration. These technologies will help insurers improve their straight-through processing (STP) capabilities and reduce integration costs.”

While the article was specifically addressing insurance companies and their internal operations, it also applies to the agents selling those companies’ products.

Agencies have struggled with creating “seamless processing” between the agency information contained in an agency management system, carrier internal processing systems, and other third-party applications an agency might elect to use to streamline their operations.

The days of information being trapped within the agency management system need to disappear. Vendors should not be the gatekeepers of that data and hold agencies hostage. They can no longer limit or control how, and under what circumstances, an agency has access to their client and prospect information. Client and prospect data want to be free of the artificial borders and boundaries that still exist.

Web services and SOA are two examples of technologies that are already in place that make it much easier to allow different systems to communicate and share data. Web services are simply a standardized way of integrating Web-based applications using open standards over an Internet protocol backbone.

Other industries are rapidly implementing Web services and open architectures to extend their reach and allow third-party developers to extend the core platform. Examples in other industries include:

  • Salesforce.com: This company has grown over the last 10 years to become a standard for selling cloud computing and software. Part of this growth is a result of the AppExchange, a marketplace for third-party developers who have created over 1,000 applications and services that extend the utility of the Salesforce CRM and the Salesforce.com platform.
  • Apple iPhone: There are now over 100,000 applications that iPhone users can download and use on the iPhone platform. As you may have heard, Apple tightly controls the types of applications it allows in its store. Yet, these third-party apps have made the iPhone one of the top mobile devices.
  • Infusionsoft: This is the marketing platform I currently use to manage all of my marketing activities. It comes with an extensive application programming interface that allows anyone with some programming skills to move information into and out of the cloud database. This provides me with great flexibility to customize their platform to meet my specific needs.

The above examples are just a few. These industries understand that you can’t control and keep clients simply by holding their data hostage. If you have created a good platform that performs well, then you only add more value for existing clients by opening access to that platform.

Agency system vendors and insurance companies need to stop talking about open access and, instead, take concrete steps to open access to data for the agents they serve.

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Helping Agents Stay Ahead in the Technology Game

As I travel across the country talking to agents, the question I hear most often is, “Can you just give us a couple quick tips on the top things we can do right now to make our agency more profitable and effective?”

The answer is, YES!

As an insurance technology consultant and editor, I’ve been able to discover the cool new tools, websites, gizmos and gadgets that can make your life easier, more productive, and more competitive.

I have created a new, weekly emailed newsletter — Steve Anderson’s Tech Tip — that will highlight one new “thing” that will help an agency increase productivity and effectiveness: Tech Tip is short, to the point, and quick to read.

After working with literally hundreds of agencies of every shape and size, I’ve come up with what I believe are the best agency technology resources available anywhere.

Is there a charge for Tech Tip? The answer is: NO!

This is my way of supporting agents in these trying economic times — not to mention that I really do love finding the latest gizmos and gadgets that can increase productivity — just ask my wife!

All you have to do to sign up is go to www.SteveAnderson.com and complete the simple Tech Tip subscription form on the right sidebar. Once you verify your email address, you will begin receiving the newsletter every Thursday morning. And, of course, I will never give your name out to anyone and you can unsubscribe at any time.

One more thing: As you begin to get my Tech Tip newsletter, always feel free to email me with comments, new ideas or products that have worked for you. I’ll check them out and spread the word!

Question: What technology tools do you use to gain a competitive edge and increase profitability?

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Creating a Blog

Most agencies should consider using a blog as a communication tool for employees and clients. Essentially, blogs are simple Web sites. They are perhaps one of the easiest—and quickest—technologies to implement.

Creating a blog is simple. Sign up for an account at Blogger.com, TypePad.com, WordPress.com, or another blog publishing tool of your choice. Next, select a name for your blog. Finally, choose a theme. A theme determines what your blog will look like. Each company provides a number of predefined templates to choose from. These templates can be changed later if you decide you want a different look. The three tools listed here allow you to sign up and create a basic blog for free. Here are some additional details:

Blogger.com is owned by Google. If you already have a Google account (a Gmail account) you can use that account to sign up.

TypePad.com is a very popular option. Many insurance blogs  utilize TypePad as their blogging platform.

WordPress is an open-source blogging platform. This means that the software is available for free. Additionally, because Word Press is open source, the developer community continually develops new features for the platform.

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Technology in the New White House

The Obama campaign for President is a study in how to effectively use technology to communicate with people. Yet as the new staff moved into the White House offices in January, they found themselves in the technological Dark Ages.

As Obama officials try to bring the same social media sophistication they used in the campaign to governing, they have run smack into the constraints of federal bureaucracy, encountering a jumble of disconnected phone lines, old computer software, and security regulations forbidding outside e-mail accounts. That means no Facebook to communicate with supporters. No outside e-mail log-ins. No instant messaging. No BlackBerry for the President. For a staff that mastered relentless online social networking, it will be an adjustment.

One of the first changes was the launch of the new WhiteHouse.gov Web site which became active minutes after Obama took the oath of office. One of the issues is that due to the Presidential Records Act, all office work must be preserved. It will be interesting to watch how the new administration will enable more open communication options within the constraints of government regulations.

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Proactive Communication

I recently discussed the need for agencies to take steps to “create a plan to survive these difficult times.” One of the steps I recommended was to communicate with clients. I suggested that you be proactive in providing them “extra information and services that will help them manage their business better.” Over the last couple of months, I have thought even more about how important it is to be proactive with clients. As I said earlier, “This will go a long way to build loyalty with your clients.”

I would like to offer a few more suggestions on steps you can take to build loyalty with all of your clients, both personal lines and commercial.

Conduct an annual review
The first step is to make sure you conduct an annual review with all clients this year. Here are a few of the areas to explore during these reviews.

Personal lines clients:

  • Ask about their job security. If people are afraid of losing their jobs, they may make decisions about insurance coverages they can do without. Or, they may stop paying.
  • Review the options available for reducing premiums for their auto or homeowners policies.
  • Make sure they understand the financial responsibility requirements in your state for insurance coverage on their automobiles. Some people are letting their policies lapse. Lower coverage may be better than no coverage.
  • Look for and provide information on how to manage credit card and other debt.

Commercial lines clients:

  • Ask if they anticipate layoffs in the coming months. Check with the carrier to see if they can provide any help during the transition. Layoffs can often increase workers compensation claims. Tell the client you want to help protect their losses and experience modification.
  • Review the current premium basis on their policies. Are last year’s estimates now too high? Check with the insurance company to see if they will do an interim audit and adjust the premium mid-term. Yes, you will lose some commission dollars. But, you could lose them anyway. Why not look out for your client now when they may need the cash flow?
  • Start looking at the renewal very early. Meet with clients and let them know what steps you are taking to make the policy renewal process as easy as possible. Clients will be looking to reduce their premiums. Let them know you are their advocate.
  • Make sure you tell your clients that the insurance companies you do business with are financially sound.

These are just a few of the steps you can take to proactively communicate with your clients. Bring your staff together and brainstorm other steps you can take to make life a little bit easier during these turbulent times.