High quality customer service is the key to sales increases

The aim of creating our exclusive insurance system LICOSS was to overcome the sales process obstacles and limitations which ultimately result in an increased processing time that in-turn could lead to a prospective client’s withdrawal. LICOSS overcomes such hurdles by supporting insurance agents through the automation of the entire sales process.

From the initial stage of gathering client data, the system supports all ensuing users through the system’s processes, leading to a rapid execution of that results in the automatic generation of an insurance contract.  Parallel to the main function of the system, it may also serve as valuable tool for business strategy planning, such as its analyses generator for business monitoring and analysis.

The LICOSS system was a great success in PZU Lietuva, becoming an indispensable tool for the day-to-day work of over 600 life insurance sales process users. 

 

Internal processes automation will save time and cost of your customer service.

Description

1) Process automation

LICOSS supports every user at every stages of insurance sales process by automating data management and document circulation processes.  
 

 

The system is equipped with a whole range of functionalities, including:

  • Data collection (incl. archiving), processing and management
  • The database of questions and questionnaires necessary for the sales process (also for non-standard stages of the process)
  • Built-in calculator (for proposed cost simulation)
  • Monitoring of status changes in the process with an automatic notification for participants– in the system, by email or text message (e.g. notification to the doctor about the need to carry out client health checks due to a non-standard insurance request)
  • Documentation generation and printout (forms, simulations, proposals, contracts, etc.) 
  • Company directives/ product parameter updates performed with the use of Excel files. The current dynamism in the variability of offers in the insurance sector requires the system to not only closely monitor the integrity of data, but also deliver simple tools to perform accordingly.     

Managing frequent data changes whilst guaranteeing the integrity of the data is possible with the use of business logic – a set of insurance agency strategic directives and product guidelines/offers embedded in the system that can be modified globally. Unlike other systems, LICOSS enables business logic to be powered by commonly used (among insurance agents) Excel files, that is handled in a completely secure environment (through an admin-controlled panel). 

 

2) Business performance analyses data input

Parallel to its automation function, data managed through LICOSS may also make significant contributions to a company’s performance analyses, thus serving as one of the most valued business performance measurement tools.

The main areas supplied by additional LICOSS functions are in:

  • Statistics (e.g.: product or product sales statistics, sales performance plus commission prediction, ratings, etc.)
  • Managing tasks (e.g.: managing marketing campaigns, managing contact actions, converting prospects to clients, etc.)

 Technical information:

  • Technology Microsoft ASP.NET MVC 4(HTML5, jQuery)/Internet Information Services (IIS) 7+
  • Database: Oracle Database 10g (possible Microsoft SQL SERVER 2008 +)
  • Integration directly at the level of Oracle Database 10 g, dedicated web services, API
  • Selected built in integration
    • LDAP Lightweight Directory Access Protocol (LDAP)
    • Jasper Reports
    • address system webservice
    • Asseco Life insurance business management system GDIS
      • Customers
      • Archival Policy information
      • Organisational Structure

Required infrastructure:

  • The following infrastructure is recommended to install and effectively use the LICOSS system: 

Notable features

  • Intuitive and user friendly interface. Users of the system will find it available on all modern web browsers. The user interface is also simple and easy to navigate which considerably reduces the time taken by new users.
  • Cost reduction management through the simple distribution of the application. Dedicated users do not need any additional software to install and run the system on their computer. What is more, the possibility of to update parameters with new offers is possible through the use of well-known and popular Excel files, meaning that company-assigned system admins require no additional training. 
  • Simple modification of the processes and products at system-level.  Most of the process changes and new product implementations can be performed without affecting the underlying programming.
  • Possibility to transfer the existing logic contained in Excel sheets directly to the system. If the existing calculation algorithms are implemented in the MS Excel, the sheets can be transferred directly to the ‘financial engine’ to become part of the system.
  • Quick implementation of new or modified insurance products. Through the customisable ‘financial engine’ product implementation processes, the overall procedure can be significantly shortened, with any changes implemented through the use of MS Excel.
  • e products. Due to to the ‘financial engine’ custom product implementation the procedure may be significantly shortened. Any changes may be implemented by using MS Excel sheets only.

Business values from client perspective

  • Reduced workload. According to the programmed criteria, the system recognises and divides insurance product applications into two groups: standard (which do not require underwriting) and non-standard (which require additional verification and underwriting). The split-criteria are programmed and may include for example health, sum insured or the existing contract. As a result, the insurer’s operations department work-load is significantly reduced, with Business logic implemented in the system effectively helping to control and ensure the accuracy of all inputted data. The user is notified by the system of every inappropriate step taken, allowing time to be saved that is better used for any corrections that need to be made. 
  • Shortening the insurance process


  • Contact to potential clients.
    • Data about each prospective client acquired by an agent is included in the system’s database that includes all mandatory contact information. The system monitors the status of the proposals presented by the agents thus enabling sales managers at all levels (group managers, region managers, etc.) to monitor agents' proposals for individuals or institutions from that database. If the proposal is not finalised with the contract, the company archives the client’s contact information. This functionality means that the design of future insurance offers can be better tailored to the client’s needs, based on the information provided.
    • Managing tasks and leads. LICOSS additionally offers a tasks/leads module which allows for the creation of lists of potential clients from the database and then assigns them to the company consultants. The group manager may control the work of the consultants online, monitoring the number of calls made, organised meetings or the number of non-completed (non-contract finalised) offers.
    • Document quality improvement. The system does not allow for the use of inappropriate documents. All documentation is generated by the system with no user influence. When the company decides to change the document content or its template, it may be uploaded into the system only by authorised system admins. As a result of modifications introduced at the central level, updated editions of all documents are available immediately to all users.
Designed, produced and implemented for PZU Lithuania (PZU Lietuva), LICOSS brought the insurance company not only sales process simplification and automation, reduced the cost of the sales process whilst accelerating the expansion of the customer network. At present, LICOSS is used by over 600 PZU employees, while the inclusion of more functional areas into the system causes a continuous expansion of its users and continuous development of the tool with new applications. 

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