Optimal Agent Performance: The Secrets of Distribution Success Revealed

At the recent ACORD LOMA and AHIP conferences in Las Vegas, much was discussed about the value of exceptional customer experiences, from quickly bringing new products to market to winning share and loyalty through adaptive and efficient sales processes. These components can quickly differentiate successful carriers from the rest.

Forward-thinking insurers who value customer experience as a cornerstone of their sales strategy have already started to turn to cutting-edge technology. It will be highly beneficial for other organizations as well to be early adopters of technology for Customer Relationship Management (CRM) and Sales Performance Management (SPM).

An insurer’s distribution channel is an invaluable tool for interacting with and leaving a lasting impression on customers. More insurers are beginning to embrace these advanced technologies that empower the distribution channel at each step of the sales cycle. Tools that deliver sales performance management capabilities allow insurers to equip the channel to be customer-centric, and also improve internal processes, such as designing agent-motivating incentive plans and executing commission payout cycles.

Learn how to raise your agents’ performance to its optimal level to consistently meet market and consumer demands from a highly successful new agency during our exclusive, free webcast.

Join Jeff Walker, Vice President at Insphere Insurance Solutions, as he shares how his company has implemented a cutting-edge technology platform to maintain the right mix of products, implement better compensation programs, and distribute powerful sales tools to their agents.

“By integrating these tools into our proprietary technology platform, our agents will operate in a seamless multi-carrier environment that will feel like they are working with a single carrier for everything from quoting, electronic applications, application tracking, managing compensation and managing their client base”

- Philip Hildebrand, President and CEO of Insphere Insurance Solutions

Register now for the webcast “Optimal Agent Performance: The Secrets of Distribution Success Revealed” and gain better insight into the sales pipeline of your producers, increase agent engagement, and reduce administrative costs.

Attend to learn how to:

• Quickly bring new products to market
• Launch new incentive plans with ease
• Provide agents with a captive experience with multiple carriers
• Leverage technology to encourage cross-selling and up-selling

Tags: sales performance management, customer relationship management, spm, crm, insphere insurance solutions, insurance distribution channel management, technology for insurers, vue software, vue
Categories: Customer Relationship Management | Distribution Management | Sales Performance Management
Post Information: Permalink | Comments (0) | Post RSS

Support Agents Throughout the Sales Cycle to Better Meet Client Needs – VUE Software at AHIP Institute 2010

Health insurers will be faced by challenges in the near future with the implementation of health care reform. Given the multitude of sanctions in the bill, there will be a big impact on the insurance business model. A few important points that could influence decision making are:

• Fixed Medical Loss Ratios
• Pre-existing Conditions and Removal of Lifetime Caps
• Universal Coverage

What actions should insurers take to best position themselves in the wake of this new and multifaceted law? We anticipate that things such as cost control and ultra-lean operations will be foremost on your minds.

Insurance organizations need to devise a strategy that will allow them to sync with the mandates in the reform bill and stabilize their internal operational structure. They will benefit most if they treat this time as an opportunity to rethink organizational systems and position themselves to adapt to the potential business growth and react quickly to changes. With the right systems in place, carriers will be able to effortlessly manage key operations like distribution. The distribution channel plays a significant role in penetrating the market with new products – an essential factor to stay above the competition.

This year’s AHIP Institute 2010 conference to be held at Caesar’s Palace, Las Vegas, provides a great opportunity for health care and health insurance organizations and executives to understand the big picture and devise the right strategies for the future. We are excited to showcase our solutions at AHIP and discuss how health plans can better support their distribution partners, giving them the insight they need to be smart and productive.

Carriers using a comprehensive commissions and incentive compensation management solution that can seamlessly integrate with multiple systems including CRM can lead the way, as proven by one of our recent customers, Insphere Insurance Solutions.

VUE Software is providing a free opportunity to AHIP attendees to register for a webcast presented by a Vice President of Insphere Insurance Solutions titled Customer Relationship Management for Distribution Success: Support Agents Throughout the Sales Cycle to Better Meet Client Needs. 

Visit VUE Software at the Microsoft booth #523 for more details or click here to register online.

VUE Software delivers sales performance capabilities to carriers through VUE Incentive Point, which integrates its premier offering VUE Compensation Management with Microsoft Dynamics CRM. The solution is available in on-premise and on-demand (Software-as-a-Service) models, giving insurers even greater flexibility and lower cost of ownership.

Tags: health care reform, health insurance, customer relationship management, crm, sales performance management, spm
Categories: Customer Relationship Management | Health Insurance | Sales Performance Management
Post Information: Permalink | Comments (0) | Post RSS

What Producers Want: Effective Distribution Management

It’s no secret that in order for insurance carriers to sustain interest among varied consumers, they must focus on innovative product offerings, take the products to market in real time and connect with consumers at a personal level. The key to achieving these goals lays in effectively relating to producers as individual members of a greater distribution channel.

There are many options for producers to choose from when deciding which products to offer and recommend. Therefore, to increase a carrier’s chances of maintaining mind share (and wallet share) with producers, it behooves the carrier to ensure that producers are satisfied with their association and actively selling products that are high-priority for the carrier. To achieve this, carriers need to employ the right strategy in distribution management to attract, empower and retain good producers.

Today, carriers are realizing the benefits of automating internal processes even and especially in the face of budget constraints. Effective distribution management technology makes it easy for a producer to do business with the carrier by providing accurate, timely payments and tools to increase sales effectiveness and access self-service information.

Thus, insurance companies who invest in new processes and technology for automating the sales process can see cost savings in many forms – including increases in producer retention. For career or captive models this is especially important, as the cost to recruit and train an agent entails a large investment.

Investing wisely on distribution management capabilities brings a guaranteed ROI by securing producer loyalty and mind share, as well as increasing career-agent retention and decreasing the amount of investments wasted on agent attrition.

Tags: distribution management, spm, technology for insurers, vue software, producer loyalty
Categories: Distribution Management
Post Information: Permalink | Comments (0) | Post RSS