Advisory Services - Insurance (formerly Agent Broker Services) solutions support independent and captive agents and brokers representing life annuity and property and casualty lines. It includes the agent portal and broker portal, both designed to enable the distribution network, and services that connect agents to carriers for price quoting, underwriting, claims processing, and other policy origination or support activities. Advisory Services Insurance enable agents and brokers to:
- Spend more time with customers and prospects and improve client service
- Interface more easily with the carriers, more quickly get accurate quotes
- Shorten time and steps to get to policy issuance
- Help deliver solutions that work well within the multiple technology environments
- Make it attractive for agencies to write more premiums with the carrier
Advisory Services solutions for Insurance are designed to address the unique needs of insurance agents and brokers.
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OPERATIONAL EFFICIENCIES
Challenges
Earning trust and confidence with personalization and transparency has long been a challenge for Agents and Brokers as they strive to provide client service despite inefficient work environments
Eliminating duplicative data entry for underwriting, policy and claims systems and processes
Solutions
Microsoft's solutions enable agents to transition from "Policy Centric" businesses to "Client Relationship Management". Agents need solutions that will leverage their legacy systems and make the most of data and services that carriers provide. Solutions that provide policy renewal and cross-sell/up-sell data give agents the information necessary to actively market products and services. Familiar and easy-to-use tools for fast policy issuance and accurate quotes help agents reduce administrative burden and enhance customer service.
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CUSTOMER EXPERIENCE
Challenges
Understanding customers' profiles and behaviors
Driving targeted cross-sell and up-sell strategies based on needs
Providing consistent experiences across service delivery channels including the agent and broker, call center and client internet
Offering consistent, personalized Web experiences where agents and service staff have the same online view and information as their customers, in real time
Solutions
Microsoft focuses on helping financial organizations leverage technology to amplify the impact their people can deliver to drive business success. One way we do that is by providing our customers with technology to enhance the customer experience.
Microsoft's application platform technologies including SQL Server, Biztalk and Customer Care Framework (CCF) systems are designed to integrate to underwriting, policy, and claims systems and expose that information into portal technologies including Microsoft Dynamics CRM, Microsoft Office Sharepoint Server and CCF.
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DISTRIBUTION MANAGEMENT
Challenges
Sharing knowledge and processes across lines and channels
Training new agents and staff quickly and cost-effectively
Automating regulatory-required processes, which also frees up agents to spend more value-add time with customers
Solutions
Microsoft unleashes the potential of the insurance value chain, promotes a holistic and real time view of client data, enables interoperability between systems and delivers powerful business insight (BI) and compliance scorecards that help management measure business best practices and regulatory compliance. Carriers benefit from channel distribution efficiencies and increase product cross and upselling by maximizing agent and broker system adoption through familiar Microsoft technologies like Outlook and Office.
These systems can be used by agents, brokers, call center representatives, and client Internet services as well as for BI and compliance reporting and scorecards.