Navigating the Changing Insurance Landscape leveraging social media, big data, the cloud, and mobility Colleen Healy Microsoft, General Manager, Financial Services
What We Hear From Our Customers Help us Improve sales behaviors and service levels for organic growth Gain greater insight into financial risks and business performance across the organization Take advantage of social media and mobility to attract new generations of customers and employees Modernize core systems for business ease of use and improved IT cost ratios
The Technology Considerations Ubiquitous connectivity
Today There is Even More Data Than Ever Information volume is growing worldwide at a minimum rate of 59% annually with 15% of that data as structured data and the rest comprised of new complex data types all helping contribute to Big Data. - Donald Feinberg, Gartner IT Symposium, October 2010
Big Data Wasted High Awkward Structured Unstructured Velocity
Analyze & Understand
Big Data Already Underway.with Microsoft Technology
Increase Revenue Growth Microsoft Partner Pitney Bowes
Storage and Analysis Answers to the Right Questions
Personalized efinance Selling to a Market of One
Ask any Question you Want Move the Analysis to the Data
Our Resulting Insurance Priorities Sales and service CRM, ECM and BPM for improved service levels, sales performance and support of channels Consumerization of IT Mobile strategies for supporting the producer and social media technologies both internally and externally Business intelligence and risk BI for more of the business and agile enterprise risk management Modernize the core Delivering core policy administration solutions that offer lower IT cost ratios while being more configurable
Creating The Insurance Enterprise Of The Future Uniquely positioned to reduce costs, fuel innovation and help financial institutions sell more effectively Claims servicing, online and mobile financial services Connecting customers Enabling financial institutions to deliver a seamless customer experience across delivery channels and respond to competitive pressures Advisory services, BI in financial services Connecting employees Providing the collaboration, BI and CRM tools to gain deep market insight and a 360 degree view of the customer to drive profitability and growth Document and records compliance, risk management and analytics Connecting processes Enabling the collection, measurement, assessment, reporting, and monitoring of an enterprise-wide risk profile Policy administration Connecting operations Supporting financial institutions in mission-critical operations and enabling legacy core system renewal, at a lower total cost of ownership Industry solutions by & partners
Ecosystems Are Key to Success
North American Sales Lead, P&C
A Challenging Market Complex product model Dozens of product types Some with hundreds of coverages Complex compliance Unique to each government entity 50 for the US alone Results in unparalleled complexity Exacerbated by new channels And demand for customized products unparalleled = complexity
Undergoing Challenging Market Trends Slow premium growth Ongoing pricing pressure Increased catastrophe losses Decaying underwriting profits Continuing regulatory volatility Decreasing reserves and surplus Commercial Lines Pricing Trends 2000-2011 The Numbers 2011 2010 Change Written Premium 422.0 B 408.0 B 3.5% Net Income 21.9 B 43.2 B (49.2%) Cat Losses 44.1 B 19.6 B 125.0% Combined Ratio 107.5% 101.0% 6.4% Carriers are leveraging technology to: Battle for existing premium in a flat market Improve underwriting efficiency & effectiveness Improve claims efficiency and outcomes Improve channel flexibility and reach Improve sales effectiveness and efficiency Target the most profitable market segments Cut operating costs
A winning combination. proudly built on a Microsoft platform
Make the Market: Insurance Runs on Microsoft Product Definition & Maintenance Marketing and Distribution Underwriting/ New Business Policy Processing Services Claims Business Intelligence Insurance Configuration Components Integrated Marketing & Sales Duck Creek Duck Creek Claim Components Underwriting Analytics Enterprise Components + ICC Runtime Common Avanade / Accenture Architecture Framework
Case Study: Torus
Microsoft Dynamics CRM for Insurance
Agent Scenario Navigating the Landscape Demonstration Pillars
Achieving Organic Growth Quick mobile view of my day; Email, Calendar, & Alerts Understand complete view of your business & focusing where it matters most. Execute on activities that drive organic growth to a target set of clients Leverage productivity tools to collaborate across business units, enable efficient cross-sell & up-sell to meet clients needs Complete view of business performance for agents, managers, and executives Quarterly Client Review & Launch New Product Campaign Executing Targeted Sales Prospecting to Drive Organic Growth Reducing Risk & Improving Efficiency via Collaborative Sales & Service Complete Insight of my business.. a day in the life Mark Harrington, Agent/Broker
Empowering the Connected Experience Quick mobile view of my day; Email, Calendar, & Alerts Increase Agent Productivity Understand complete view of your business & focusing where it matters most. Execute on activities that drive organic growth to a target set of clients Increase Organic Growth Leverage productivity tools to collaborate across business units, enable efficient cross-sell & up-sell to meet clients needs Reduce Risk & Streamline Business Processes Complete view of business performance for agents, managers, and executives 360 Degree View Powered By: Nokia Lumina 900 Windows Phone Outlook 2010 Lync 2010 Powered By: Samsung Series 7 Slate Windows 8 Preview Outlook 2010 Dynamics CRM 2011 Powered By: Samsung Series 7 Slate Windows 8 Preview Outlook 2010 Dynamics CRM 2011 Lync 2010 SharePoint 2010 SQL Server 2008 Powered By: Samsung Series 7 Slate Windows 8 Preview Outlook 2010 Dynamics CRM 2011 SQL Server 2008 Mark Harrington, Agent/Broker
Many Challenges.. Navigating the Insurance Landscape Streamlined Sales & Service Real-time Access to Social Sites, Expertise, & Activities Identify High Value Clients & Deliver Consistent Service Holistically Focusing on the Right Opportunities, Products & Customers Risk Financial Modeling Tailored to your business Improving Workforce Productivity & Lowering cost Efficient Rating & Policy Administration Life & Annuity Insurance Template & Mobility Microsoft Will Help You Be What s Next
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