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    Tib Co Insurance January 2012

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    siddhartha_maity_4
    TibCo Insurance domain

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    © All Rights Reserved
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    Tib Co Insurance January 2012

    Uploaded by

    siddhartha_maity_4
    33 views36 pages
    TibCo Insurance domain

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    © © All Rights Reserved

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    TibCo Insurance domain

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    33 views36 pages

    Tib Co Insurance January 2012

    Uploaded by

    siddhartha_maity_4
    TibCo Insurance domain

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 36

    January 2012

    © 2011 TIBCO Software Inc. All Rights Reserved. Confidential and Proprietary.
    During the course of this presentation TIBCO or its representatives may
    make forward-looking statements regarding future events, TIBCO’s future
    results or our future financial performance. These statements are based
    on management’s current expectations. Although we believe that the
    expectations reflected in the forward looking statements contained in this
    presentation are reasonable, these expectations or any of the forward
    looking statements could be prove to be incorrect and actual results or
    financial performance could differ materially from those stated herein.
    We refer you to the reports that TIBCO files from time to time with the
    Securities and Exchange Commission for a discussion of important
    factors that could cause actual results or financial performance to differ
    materially from those contained in any forward-looking statement made in
    connection with this presentation. TIBCO does not undertake to update
    any forward-looking statement that may be made from time to time or on
    its behalf.
    EVENT
    AUTOMATION PROCESSING ANALYTICS CLOUD SOCIAL

    © Copyright 2000-2011 TIBCO Software Inc.


    REAL-TIME PROMOTIONS

    21%
    INCREASE
    CONSUMER SPENDING

    SHORTENED
    TIME-TO-MARKET BY

    92%
    • Growing the business
    – New business acquisition
    – Customer retention

    • Cost reduction and increasing profitability

    • Ease of doing business with producers and policy


    holders

    • Regulatory Constraints
    – Dodd-Frank
    – FATCA
    – Solvency II
    • Growing the business using Event Processing
    – Cross-Sell / Upsell
    – Increasing closure rates

    • Driving down cost and increasing profits with


    streamlined and integrated business processes

    • Providing a 360 degree view of producers and policy


    holders with Master Data Management

    • BPM, MDM, and Analytics – a platform enabling


    transparency and accurate information
    • Insurers using mobility to drive new business and
    operational efficiencies
    • Mobile apps supporting policy holders, agents,
    adjusters, claims personnel, and call center staff

    15 Billion
    mobile devices
    by 2015
    • Field agents securely collaborate with head office on
    topics such as claims, new products, and fraud
    • Secure customer service communication on policy
    renewal, claims status, and policy coverage
    • Leverage every customer touch point to sell
    • Call Centers and all other Customer Service channels

    Context
    Rules
    Altered
    Event Transaction

    Channel Service
    Request

    Custom
    Offer

    Transaction
    Response
    • Capture and manage operational insurance processes
    such as policy administration, claims, and billing
    • Collaboration on innovation and process improvement
    • Facilitate Regulatory Compliance

    Intelligent Operations Manual


    Business Scenario: Unsold Quotes

    Navigation information
    Customer has requested a
    quote. The quote is not
    bound.

    Role(s)

    Customer
    7. Rule based
    Subsequent routing: Agents
    - or Agent contact
    Customer - call center contact or
    - direct email notification
    CIC
    1. Finished Quote
    Process - captures 4. Kickoff
    quote event Unsold Quote 8. Close Sale,
    Process revise and re-propose,
    or Reject
    TIBCO Event Orchestration Layer
    3

    2
    Process
    1

    3. Business Rules 5. Invoke 6. Work Queue


    generate Unsold prospect assignment with 9. Bound Policy
    2. TIBCO Event Layer scoring prioritization by
    captures quote event quote event
    engine score

    Agent

    Score: Low Med High


    Processes 1 million quotes per week across 3
    channels: Agents, Partners, Online

    Improved quote conversion rate from 5% to 7%

    High 9 figure revenue increase in premium

    Implemented in less than 7 months


    #$@%&!!!
    Next Gen Direct Repair
    Customer
    Self Service Service Providers
    Information

    Safelite
    Auto Glass
    Content External
    Management Partners
    Salomon

    TIBCO Smith Barney

    SOA / B2B
    Policy Settlement

    Claims
    Financials
    Analysis
    Award-winning Next Gen System
    An InfoWeek “Top Technology Innovation”

    Claims are handled as


    an automated
    business process
    across
    lines of business …

    from website click


    to check
    Maintains consistent service levels
    Rapid new feature rollout
    Expanded features rolled out in only 6 months
    Accurate payouts
    Crash to cash in just one or two days
    More immediate appraisals
    More expedited claims
    Up to the minute status

    “Next Gen enabled Allstate to enhance our


    Direct Repair Program, taking many customers
    from crash to cash in just one or two days”
    Long Term Individual
    Life Care Disability

    Long processing times


    No visibility for customers
    Difficult to roll out innovative product bundles
    Simply Unum
    … an InfoWeek Award Winning Initiative
    …Microsoft WFS Innovator Award
    …Exstream Visionary Award
    …Celent Document Automation Award

    “A better experience throughout the


    entire customer journey”
    TIBCO
    BPM

    Policy
    Administration
    Sold Case

    Preview Plan Implementation


    Add/Change Coverage Participation
    Add/Remove Employees Requirement
    Review Statement Underwriting
    Pay Bill Enrollment Pre-Sale
    Customer Customer Service
    Support Support

    Claim Submission Product Offering


    Claim Status Check Price Flexibility
    Integrated Proposal
    Simply Unum
    Easy for Customers to Use

    Real time, 24x7 online access


    Billing
    Administration
    Policy changes
    Claims submission/tracking
    Quote to policy time
    cut by up to 88%
    94% customer satisfaction

    $700 million
    in revenue over 5
    years
    Payments

    Special
    Payments
    New
    Business
    Deposits

    Group Life / Pension Management

    No standard processes for end-to-end


    case management spanning multiple Securities
    internal business functions. Buy/Sell

    Resulting in poor customer experience.


    Payments
    Securities
    Buy/Sell

    TIBCO
    BPM
    Special
    Payments

    Deposits

    eDarts New
    Business
    Fully standardized processes and case management across
    Group Life / Pension Management
    “What’s the status of my “You have just been
    life insurance enrolled as of this
    application?” morning.”

    From 2 days to real time answers


    Cut transaction time by 77%
    Annual volumes increased more than 400%
    Annual administrative savings of 4.2M €
    Next Steps

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