SugarCRM in the insurance vertical
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This document discusses using SugarCRM software in the Italian insurance industry. It describes the current Italian distribution model for insurance which involves agencies linked to specific companies. The goals of insurance companies and agencies are to retain customers, gain new customers, and increase efficiency. Challenges include agencies not wanting to share customer info and needing a new mentality. Opportunities include improving outdated IT systems and using social media. The proposed solution is to use SugarCRM to close gaps between companies, partners, and customer info to streamline processes like sales, backoffice, accounting, and marketing. Screenshots show agent, customer, and administrative views. Benefits include cost savings, increased income from improved marketing and sales coordination for companies and agencies.
SugarCRM in the insurance vertical
- 1. SugarCRM in the Insurance Enrico Maggi, Opensymbol
- 2. Scenario Italian distribution model (it’s 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 increase competition
- 3. About us • Opensymbol is the only SugarCRM Gold Partner in Italy (out of a total of 12) • 25 employees (90% of which fully involved in SugarCRM) • Focused in Insurance and Automotive markets • We’re 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. What’s 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 big with 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 is required
- 9. Opportunities Social networks can help gathering fresh customer informations New devices (e.g. iPad) are allowing easy access to informations while in mobility New technologies help building relationships
- 10. The solution: SugarCRM for B2B2C (or PRM) Close the gap between corporate marketing activities and distribution network (partners) Close the gap between customer infos gathering point (partners) and corporate marketing Reduce the “digital divide” that prevents agents executing 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: it’s not all about software Mr. Marco Boni (Chief Marketing, Zurich Italy) interview Il giornale delle assicurazioni (January, 2010)
- 13. The solution Most of the data you can see contained in the following SugarCRM screenshots are nightly gathered from central DWH via an ETL and then properly organized and displayed for user convenience. The solution is a perfect mix between data coming from Corporate ERP and data that are created at CRM level.
- 14. The solution Typically the insurance company offers different software applications to address different business needs. All the data is collected together into one single datawarehouse, and that’s where we usuallly read data from Policy Policy Claims Payment issue quoting system system system Company DataWarehous e
- 15. The solution Nightly differential Company data loads DataWarehous (Customers, e Policies, Payments, Claims, Indicators) One single installation on the Amazon Datacenter (UE zones) Agency Agency Agency Agency Agency 1 2 3 … n 15
- 16. The solution
- 17. The solution Screenshots
- 18. Different roles, different infos: Agent view Day by day Agency Trend
- 19. Different roles, different infos: Agent view Agency Portfolio Overview
- 20. Different roles, different infos: Agent view Seller’s details Sales Force Management: the agent can overview his sellers
- 21. Different roles, different infos: seller view Day by day Seller’s Portfoglio Trend
- 22. Different roles different infos: front office view Expiring Policies To do list Calls Appointments and meeting
- 23. Customer Profiling: 360°customer view
- 24. Customer Profiling: 360°customer view Customer detail view Personal data Insurance Information
- 25. Customer Profiling: 360°customer view Other Information
- 26. Amministrative and Operational Management Insurance policy detail view
- 27. Amministrative and Operational Management Premiums Collection Collection Data Commission Data
- 28. Amministrative and Operational Management Claims Detail View Claims Data
- 29. Sales Management Opportunity view Funnel
- 30. Sales Management
- 32. Marketing Management Campaign List Campaign Activities
- 35. Agency Accounting System All financial record can be managed Some records are automatically updated (coming from central data)
- 36. Agency Accounting System: Cash Flow Check Daily check between corporate data and agency data
- 37. Agency Accounting System: Cash Registration Total per account Easy cash record
- 38. Sales Team Commission Management Commission calculation (to help collaborators in invoicing process to the agency)
- 39. Benefits for the insurance company Popular functionalities Cost savings More Income Marketing (HQ) DEM / Campaings Mass mailing (no external Increased campaign Redemption Analysis cost) effectiveness thanks to Link with agencies Lower 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, Sales Target monitoring Less travels closed Manager) Production monitoring Less phone calls Better coordination = more deals Income monitoring are closed
- 40. Benefits for the agencies
- 41. Insurance Users Europe 700 users 1,200 users 100 users 250 users 20 users 1,350 users geplant