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Mobile BI For Insurance Business Users
- 1. Mobility for Insurance April, 2011
- 2. Legal disclaimerAll information contained in this presentation is provided under NDA The information in this document is confidential and proprietary to SAP and may not be disclosed without the permission of SAP. This document is not subject to your license agreement or any other service or subscription agreement with SAP. SAP has no obligation to pursue any course of business outlined in this document or any related presentation, or to develop or release any functionality mentioned therein. This document, or any related presentation and SAP's strategy and possible future developments, products and or platforms directions and functionality are all subject to change and may be changed by SAP at any time for any reason without notice. The information on this document is not a commitment, promise or legal obligation to deliver any material, code or functionality. This document is provided without a warranty of any kind, either express or implied, including but not limited to, the implied warranties of merchantability, fitness for a particular purpose, or non-infringement. This document is for informational purposes and may not be incorporated into a contract. SAP assumes no responsibility for errors or omissions in this document, except if such damages were caused by SAP intentionally or grossly negligent. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates, and they should not be relied upon in making purchasing decisions.
- 3. Successful insurance companies . . . efficiently provide customers with unique and differentiating products and services to enable profitable growth They do it by… Ensuring superior customer service and intimacy Driving profitable sales Improving and stream-lining operationscompanywide Increase market opportunity Achieve revenue and profit goals Grow market share
- 6. control your businessMobility enables you to anytime, anywhere Customer Service Mobileclaims Analytics Real-time policy information Mobile sales Social media …….. Partner Executive Operations Sales IT
- 7. Mobilize agents with greater ability to quote, cross-sell, and up-sell Empower employees with mobile analytics and workflows Enable customers to make mobile claims and access real-time policy information Harness the power of mobility in insurance companies Result Result Result Greater customer satisfaction and loyalty with innovative, comprehensive services at the “moment of truth” Agents and brokers provided with information to identify and verify coverage, quote a policy, or sell a product Increased employee satisfaction and productivity with analytics and workflows available anytime, anywhere
- 9. Provide customers mobile access to comprehensive information regarding their coverage
- 10. Give agents and brokers the ability to verify coverage, quote policies, and cross-sell and up-sell additional products
- 11. Let agents and brokers quickly check claims status, payment information, and more from any mobile device
- 12. Put all your enterprise data within the reach of decision makers in seconds
- 14. Thank You!
Editor's Notes
- [Talk track:]In order for insurance companies to achieve long-term sustainable and profitable growth, they must focus on critical success factors:Respond faster and smarter than the competition with the right products to attract and retain customersEnable and motivate a disparate sales forceReduce operational costs, especially in the areas of claims and policy managementBut, even with a relentless focus on these critical success factors, reaching customers with the right products, in the right place, and at the right time is challenging when the business environment is burdened with distributed business processes, disparate sources of information, and massive data volumes.If you do these things right, however, it will result in:Increased market opportunityAchieved revenue and profitability targetsBigger market share growth versus the competition
- [Talk track:]Much of the world today operates in a mobile environment – and business is no exception. Business processes no longer require people to be tied to their desktops or landlines. As your employees, customers, partners, and the rest of the business ecosystem becomes mobile, companies are asking themselves the following questions: How can mobility solutions help us do what we do better?What simple tasks could businesspeople perform at any time, regardless of physical location?What are the five top-priority business services that could be delivered through mobile devices better , faster, and cheaper?Mobility can help make business processes more efficient and more cost-effective, for all types of businesspeople – executives, line-of-business managers, business consumers and individual users – as well as consumers and ecosystem. A telling example is that of approval workflows. Approvers no longer need to be logged on at desktop computers to approve requests, but can do so anywhere, which can drastically cut down the process time and increase employee productivity.
- [Talk track:]How can these capabilities help transform the insurance business?For insurance companies, claims management has a high potential to optimize costs, since two-thirds of the premiums are used for claims payments. In addition, it is the “moment of truth” for the customer.You can differentiate yourself through innovative and comprehensive services. Late loss reports, incomplete data, and insufficient business networks lead to high claim handling and claim regulation costs, while proactive claims management enables cost reduction and increased service levels. You and your customers demand solutions that allow for a simple and comprehensive loss report and subsequent value-added services, such as immediate support from third-party service providers in the case of an accident.Insurance sales agents are mobile by nature of their business. Every piece of technology that helps them service customers in the selling and claim-handling process increases customer satisfaction and sales revenue. Agents are information workers par excellence. Having all relevant information on hand and being able to identify a lack of coverage or support a customer ‘s claim will generate more businessEmployees of a mobile-enabled insurer have access to real-time analytics. Also, they can enter workflow data, such as time sheet, project billing, and travel expenses, from anywhere at anytime, avoiding lags in productivity.
- [Talk track:]Youhave an increasing need to react more quickly than the competition, not only to changing market conditions but also to loss events and customer demands. To do this, you must be able to: Support mobile claims capture, including third-party integrationMore and more, mobile devices provide support for all kind of situations. The emergence of service provider networks (eventually driven by carriers or network operators) will greatly facilitate providing services through mobile devices.The unpleasant live event of a car accident could be managed in a way that the customer creates a claim through a mobile device (passing on all relevant information, such as location, photographs, and other-party contact data), which also triggers repair shop scheduling, rental car booking, and so on. The ability to offer these kinds of services will provide a competitive edge for early adopter.Mobilize your sales force with greater ability to quote, cross-sell, and up-sellInsurance sales agents are mobile by nature of their business. Every piece of technology that helps them service customers in the selling and claim-handling process increases customer satisfaction and sales revenue. Agents are information workers par excellence. Having all relevant information on hand and being able to identify a lack of coverage or support a customer ‘s claim will generate more business.Enable employees with mobile analytics and workflowsEmployees can access real-time information, such as sales reports and claims data. You can avoid unnecessary time lags in entering time sheet and travel expense information, since your employees can enter this information on any mobile device.
- [Talk track:]In addition to the considerable benefits available to enterprise business consumers, mobility also gives the IT organization the opportunity to enable transformational value with no business disruption while lowering overall IT costs. How?FlexibilityCore business processes supported inside and outside the enterprise: react faster to changing business needs by extending functions available in mobile appsComprehensive mobile platform for businesses and consumers: design, configure, and deliver your own mobile appsConnected to SAP and non-SAP software and data sourcesAbility to extend mobile apps or build your own on top: buy or build maps with your own IT resources to meet your company needsSecurity and ControlSafe access at all times: employees have access to key information from any device at any location at any timeManagement and security of mobile devices on multiple platforms throughout the entire device lifecycleIncreased ROIExtended and enhanced use of SAP softwareIntegration with SAP applicationsInvestment in the future