PEGA SALES AUTOMATION for INSURANCE Product Overview Version 7.21 May 2016 Pega Sales Automation for Insurance 7.21 Product Overview i
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Table of Contents Chapter 1: Product Overview... 1 Intelligent Support for Producer Sales Processes... 1 Empower the Front Office... 1 Quickly Deploy and Specialize... 1 Chapter 2: High Level Functionality... 3 Opportunity Enhancements for Insurance... 3 Linking Policies to Opportunities... 3 Opportunity Close Enhancements... 3 Policy... 4 Overview... 4 Policy List... 5 Policy Detail... 5 Internal Policies... 6 External Policies... 6 Policy Reports and Widgets... 7 Quote... 7 Quote Overview... 7 Quote List... 8 Quote Detail... 8 Internal Quotes... 9 External Quotes... 9 Quote Reports and Widgets... 9 Basic Customer Search (B2C Only)... 10 Chapter 3: Sales Automation for Insurance Entity... 11 Chapter 4: Data Model... 12 Logical Data Relationship Models... 12 B2B Selling Model... 12 B2C Selling Mode... 13 Chapter 5: Roles, Portals, and Dashboards... 14 Dashboards in Sales Automation for Insurance... 14 Dashboard Template... 14 Sales Automation for Insurance Widget Category... 15 Sales Rep Default Dashboard... 15 Sales Manager Default Dashboard... 16 Sales Ops Default Dashboard... 16 Pega Sales Automation for Insurance 7.21 Product Overview iii
Appendix A: Feature Screen Shots... 17 SA Horizontal Screen Shots... 17 SA for Insurance Screen Shots... 17 Manager Dashboard... 17 Opportunity Screen Shots... 18 Policy List... 19 Quote List... 19 B2B Basic Customer Search... 19 Partial Search and Refinements... 20 View Work... 21 Complete Work... 22 Pega Sales Automation for Insurance 7.21 Product Overview iv
Chapter 1: Product Overview Sales Automation for Insurance is a key component of a Distribution Management solution that: Creates a single point of entry for all producer needs in the context of the producer. Pulls back office processing forward, which equips producers to convert sales in real time. Embeds rules and processes to ensure compliance with legal requirements and to support business goals and strategy. Provides the front office with tools to manage and collaborate with producers and partners. Accelerates end-to-end processing and maximize sales effectiveness by integrating with existing enterprise systems and capabilities. Sales Automation for Insurance leverages the capabilities of Sales Automation and Pega Platform in three key ways. Intelligent Support for Producer Sales Processes Policyholder insight is added to Sales Automation horizontal and Pega Platform features. Guided selling to increase sales rep effectiveness Sales process management to accelerate the sales cycle Real-time reporting and dashboards to improve visibility and control Omni-channel capabilities to better serve customers and manage the business Configurable models and built in adapters to cut implementation time and risk Empower the Front Office Front office staff needs complementary functionality to the producers, in order to facilitate quick turnaround, provide superior producer support, and improve hit ratios. Front office, back office, and producers are able to work together to guide prospects and clients from lead qualification through opportunity close. Quickly Deploy and Specialize Sales Automation for Insurance is built on the Pega Platform, using Pega s proven development methodology. New capabilities can be implemented in short iterative cycles, directly capturing objectives with minimal coding. The application is designed to be configured to leverage enterprise systems of record (policy administrations, claims, and so on). Configure, not customize leverage familiar business tools to model and adjust sales processes Role based portals, end user configurable dashboards End user operations tools that manage: Data migration Pega Sales Automation for Insurance 7.21 Product Overview 1
Business territories Operator management Data visibility Sales goals Situational Layer Cake start with common components and then create rules to specialize, as needed. Pega Sales Automation for Insurance 7.21 Product Overview 2
Chapter 2: High Level Functionality Sales Automation for Insurance provides four capabilities beyond what is provided by the Sales Automation Horizontal application. They are: 1. Opportunity Enhancements 2. Policy 3. Quote 4. Individual (B2C) Customer Search Opportunity Enhancements for Insurance Linking Policies to Opportunities Policies can be linked to related opportunities on the policy edit screen. If the user leaves the Opportunity auto complete empty during the creation of an external policy, the application automatically creates a related reminder opportunity for the account and also links the policy to that reminder opportunity. Opportunity Close Enhancements Select Winning Quote If closing an Opportunity as won or lost, the user can select a winning quote (if there is at least one quote). Pega Sales Automation for Insurance 7.21 Product Overview 3
Opportunity Loss Features If closing an Opportunity as lost, the agent is required to select a Loss Reason. Optionally, the agent can choose to create a remarketing type Opportunity (sell later to that customer). The Loss Reasons are configurable via the Tools menu on the Sales Operations Portal. Policy Overview Sales Automation for Insurance adds policy management capabilities to the Sales Automation B2B and B2C Account objects. The policy management feature enables the carrier s agents, brokers, and managers to see summary-level about policies in the account (client) context in order to provide a 360 view and also to drive sales activity. The policy object is not intended to be a system of record for policies; it was designed to store summary data about a real policy (insurance contract) that exists on another system. Pega Sales Automation for Insurance 7.21 Product Overview 4
The internal or external (competitor) policy types are explained below. Policy List Policies are associated with a client s account (B2B or B2C). The Policy list can be opened from the Account work object. Click on the Policies tab for an Account (B2B or B2C) to view the Policy list. Policy Detail A policy can be opened from the Policy list by clicking on the policy name hyperlink in the row of the policy that you want to view. The policy details are displayed in read-only view as shown in the following screen. Once open, you can use the Actions menu switch to edit mode in order to edit or delete the policy. You can use the Attachments tab to view or attach files, emails, or appointments related to the policy. Pega Sales Automation for Insurance 7.21 Product Overview 5
Internal Policies Internal Policy objects reference policies that are in the carrier s book of business. If the policy is Internal, the carrier is receiving premium and insuring a risk. Typically, a policy is stored on a system of record somewhere within the carrier s enterprise. Occasionally, the policy data resides on an application that is maintained by a (TPA) third party administrator or (BPO) business process outsourcer. External Policies External Policy objects reference policies that have been purchased by the carrier s client from competing carriers. External policies become known to the application several ways. Two typical ways that carriers can discover and then store external policy include: 1. Client-reported Client (policyholder) tells their agent that they already have a policy with a competitor. Agents can capture other details that may be shared, like premium and policy expiration date. 2. Public sources In some places, policy is public record. Information about external policies is helpful for many reasons. It helps agents avoid offering a client a product they have already purchased. If a client already has an auto policy with a competitor and they do not want to be offered a new product, the agent can enter as much as they know about the existing product in an external policy in the client s account. It can be used to calculate customer lifetime value and when running marketing campaigns that may use customer lifetime value. Pega Sales Automation for Insurance 7.21 Product Overview 6
It can be used to create a needs analysis for a prospect or client, and can help identify gaps in protection (that is, risks that are not currently covered by insurance). Policy Reports and Widgets There are four Insurance reports two of them are for policies. The Policy Reports show all policies (External and Internal) for all the accounts owned by the operator. The Policy Reports can be collapsed and expanded by selling mode and sorted based on report columns. The Actions menu allows other ways to view and export report data. Quote Quote Overview Sales Automation for Insurance 7.21 adds Quote management capabilities to the Sales Automation B2B and B2C Opportunity objects. Quote management enables a carrier s agents, brokers, and managers to see summary-level about quotes in the opportunity context in order to drive sales activity and improve forecasting accuracy. The quote object indicates the existence of a quote in illustration and underwriting systems. External (competitor) quotes are self-reported by our clients, collecting that data helps us understand how we stack up against the competition by product, by industry, price, and so on. Pega Sales Automation for Insurance 7.21 Product Overview 7
The internal or external (competitor) quote types are explained below. Quote List Quotes are associated with an Opportunity (B2B or B2C). Once you have an Opportunity open, click on the Quotes tab to see the list. The E in the purple box indicates an external (competitor) quote. The rightmost column compares each quote amount to the opportunity amount. If the percentage difference between a Quote amount and the Opportunity amount is more than 15%, the Quote amount will be displayed in orange text. Hovering over orange text will advise the agent to consider changing the Opportunity amount, since actual Quotes should be more accurate. Quote Detail A Quote can be opened from the list by clicking on the Quote name hyperlink in the row of the Quote that you want to view. Quote details are displayed in read-only view as shown in the following screen. Once open, you can use the Actions menu switch to edit (or delete) mode. You can use the Attachments tab to view or attach files related to the Quote. Pega Sales Automation for Insurance 7.21 Product Overview 8
Internal Quotes Internal Quote objects reference applications, illustrations or quotes that are prepared for the Opportunity. If the Quote is Internal, the carrier would be receiving premium and insuring a risk, should the Opportunity be won. Typically, a Quote is stored on a underwriting system somewhere within the carrier s enterprise. Occasionally, quote data resides on an application that is maintained by a (TPA) third party administrator or (BPO) business process outsourcer. External Quotes External Quotes are much like external policies they reference quote presented to our clients by competitors. Typically, our clients tell an agent that they have received quote from a competitor. Agents can capture other details that a client shares, like premium and desired policy start date. Information about external quotes is helpful for many reasons. It helps the agent present a competitive product and price for the opportunity. It helps the agent avoid spending resources on an opportunity that we are not likely to win (we don t have a good product fit or will not be competitive on price). It helps the agent refine the opportunity amount, which will improve forecasting accuracy. Quote Reports and Widgets The Quote Reports show all quotes (External and Internal) for all of the opportunities owned by the operator. The Quote Reports can be collapsed and expanded by selling mode and sorted based on report columns. The Actions menu allows other ways to view and export report data. Pega Sales Automation for Insurance 7.21 Product Overview 9
Basic Customer Search (B2C Only) Basic customer search provides a way for an agent to find someone and complete work for a lead, prospect or client, even when they do not have complete. See screen shots in the Appendix for more details. Pega Sales Automation for Insurance 7.21 Product Overview 10
Chapter 3: Sales Automation for Insurance Entity The Policy and Quote entities are added to the horizontal Pega Sales Automation application for Insurance. Case Policy Quote Description Both Individual (B2C) and Business (B2B) Clients are represented by Accounts. Accounts can have one or more Policies for their Accounts. Policies are of two types: Internal and External (Competitor). Policies can be linked to Opportunities for a number of reasons like: track sales efforts to take business (the policy) from a competitor, reminder to check in with the Policy holder (client) before a renewal. Quote can be stored by both Individual (B2C) and Business (B2B) Opportunities. Quotes are of two types: Internal and External (Competitor). Upon Opportunity close as won or loss, a winning quote can be selected. Pega Sales Automation for Insurance 7.21 Product Overview 9
Chapter 4: Data Model Insurance adds Policy and Quote to Sales Automation. The Sales Automation data model supports both B2B and B2C selling modes. B2B selling allows clients to model their prospects and clients as business organizations, accounts, and contacts. For B2C selling, the account/contact structure is simplified for selling directly to individuals and, optionally, to households. The dotted line shows that Policy can be linked to an Opportunity. The dotted line in the B2C model shows that there is an indirect link between Policy and Household (goes through the B2C Account and its Primary Insured Contact). Logical Data Relationship Models B2B Selling Model Task Stores Task Lead Stores Lead First Name,Last Name,Company, Stage... Subject,Type,Status, Due Date... Contact Organization Stores Organization Organization Name... Opportunity Optional Stores Opportunity Amount,Close Date,Name,Forecast, Category... Stores Contact First Name,Last Name... Activity Stores Activity Account Stores Account Name,Territory Owner... Subject,Date, Outcome... Quote Stores Quote Quotes (ours & competitors) for an Opportunity Optional Policy Stores Policy Policies (ours & competitors) for our Clients (B2B&B2C)... Pega Sales Automation for Insurance 7.21 Product Overview 12
B2C Selling Mode Household Contact Lead Stores Household Address, Member (Contacts)... C2HH Link Stores Contact First Name,Last Name... Optional Stores Lead First Name,Last Name,Company, Stage... C2A Link Link Contact to Account Contact ID, Account ID, Role, Start/Stop Date... Account / Customer Stores Individual Customer Information Optional Client Name, Opportunity and Policies (Claims)... Policy Stores Policy Policies (ours & competitors) for our Clients Opportunity Stores Opportunity Amount,Close Date,Name,Forecast, Category... Quote Stores Quote Quotes (ours & competitors) for an Opportunity Pega Sales Automation for Insurance 7.21 Product Overview 13
Chapter 5: Roles, Portals, and Dashboards Dashboards in Sales Automation for Insurance SAI adds a new widget category named Insurance. There are three OOTB widgets in SAI 7.21 (policy and quote). See the Sales Automation Horizontal article for more details about how an end user can configure their own dashboard. https://pdn.pega.com/pega-sales-automationdashboard-customization/pega-sales-automation-dashboard-customization Dashboard Template SAI uses the SFA Two Column template OOTB. All three SAI end user portals (Ops, Manager, and Rep) include default dashboards that have been specialized for Insurance. The default dashboards can be customized by opening the dashboard and then clicking the gear at the top right part of the screen as shown below. Pega Sales Automation for Insurance 7.21 Product Overview 14
Sales Automation for Insurance Widget Category SAI adds a Widget Category. The OOTB policy and quote widgets can be found there. Sales Rep Default Dashboard The Sales Rep portal is where the sales team performs their day-to-day sales activities. The Default Sales Rep portal for Insurance includes Policy and Quote Widgets in slots 1 and 2. Pega Sales Automation for Insurance 7.21 Product Overview 15
Sales Manager Default Dashboard The Sales Manager portal provides insights into the team s sales pipeline and performance while enabling cross-team collaboration. The Default Sales Manager portal for Insurance includes Policy and Quote Widgets in slots 1 and 2. Sales Ops Default Dashboard The Default Sales Operations portal has Insurance widgets in slots 4, 5, and 6. Pega Sales Automation for Insurance 7.21 Product Overview 16
Appendix A: Feature Screen Shots SA Horizontal Screen Shots See the Sales Automation Product Overview for screen shots of horizontal features. SA for Insurance Screen Shots Manager Dashboard Pega Sales Automation for Insurance 7.21 Product Overview 17
Opportunity Screen Shots Configured Stages (B2B Only) Opportunity Close Pega Sales Automation for Insurance 7.21 Product Overview 18
Policy List Quote List B2B Basic Customer Search The customer search in SAI 7.21 provides a quick way to find a specific person and complete work. In the example below, an agent met a prospect at a seminar in Boston and entered something into SAI (possibly a Contact, Lead, or Task) for a man named Alan (can t remember last name or even spelling of the name). Pega Sales Automation for Insurance 7.21 Product Overview 19
Initiate the search by clicking on the magnifying glass at the top of the portal. Enter at least two search criteria and click the orange Search button. Partial Search and Refinements The screen shot below shows the results for a search on a first name starting with Al and Owner (EastSalesMgr). View Candidates Once you see the results, you can look through the demographic details and expand ones that may be the person you are seeking. There are two in the greater Boston area, so we can expand those two to see more about them. Pega Sales Automation for Insurance 7.21 Product Overview 20
View Work Clicking on the number 1 hyperlink under Lead opens a preview of the object (Lead, in this case). Clicking on anything other than a hyperlink returns you back to your search results. Pega Sales Automation for Insurance 7.21 Product Overview 21
Complete Work If I want to progress the Lead for Alan Hill, I click on the Alan Hill hyperlink and proceed. Pega Sales Automation for Insurance 7.21 Product Overview 22