smart office app upload: the missing link between the field & carriers
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Smart Office App Upload: The missing link between the field & carriers. Michele Ohler FLMI Associate Director – eInitiatives AIG American General Individual Product Operations. Objectives. What we will cover: AIG American General Individual Product Operations - PowerPoint PPT PresentationTRANSCRIPT
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Smart Office App Upload: The missing link between the field & carriers
Michele Ohler FLMI
Associate Director – eInitiativesAIG American General
Individual Product Operations
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Objectives
What we will cover:
AIG American General Individual Product Operations
A Traditional Application Life Cycle
Benefits Of Smart Office AG App Upload
Other AG Technologies
Potential AG/E-Z Data Enhancements
Technical Change – Industry Wide
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AIG American General
AIG American General is the marketing name for the companies comprising the domestic life operations of American International Group, Inc. (AIG). AIG American General companies offer a broad spectrum of products to serve the financial and estate planning needs of its customers throughout the US. These products include:• Life Insurance• Annuity• Investment• Accident and Health Insurance• Financial Institutions
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AIG AG eSubmission History
When we started:Data & Image Model – January, 2002“Ticket” Model – January, 2002Image Submission Model – June, 2002
Where we are today:3 Image Models Supporting 200+ Agencies 4 Image and Data Models Supporting 12 Agencies2 Ticket Models Supporting 10 Agencies
Smart Office App Upload: January, 2007
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AIG AG eSubmission Future
Where we are headed:
Continuing Installations
Evaluating Other Solutions
Enhancing Existing Solutions
Additional Product Support
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Why eSubmission?
The traditional application workflow:
Filled with repetition and inefficiencies!
Data enter app. Data enter status.
Data enter lead.Update with app
data.Data enter service
order.Data enter status. Mail/Fax to carrier.
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Why eSubmission?
Data enter lead.Update with app
data.Data enter service
order.Data enter status. Mail/Fax to Carrier.
The Smart Office App Upload workflow:
Shaves days off the processing time!
Data enter app. Data enter status.
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Smart Office App Upload
Flexible • Requirements for AIG AG will not impact data
required for other carriers.Reliable• AIG AG application rules are built into the system.
Efficient• Cases received via app upload receive priority
handling.• App upload eliminates mail time and fax handling.• At least one processing day is removed at AIG
AG’s office.
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Smart Office App Upload to AIG AG
Coupled with other AIG AG Solutions:
• Electronic Signatures• Electronic Policy Delivery• Automated Underwriting
Can save additional time.
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AIG AG - Streamlining the policy life cycle
Electronic Submissions
XML and/or Web Status
Secure Messaging
Automated Requirements Ordering & Matching
Automated Underwriting
Automated Issue
Application Completion
New Business Underwriting
Policy Delivery & Commissions
Intelligent Forms
Electronic Signatures
Paramedical Quality
Ticket
Credit Cards
Electronic Signatures
eDelivery
eServices
XML Commission Data/On-Line Statements
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AIG AG – Integrating Vendor Services
Electronic Submissions
XML and/or Web Status
Secure Messaging
Automated Requirements Ordering & Matching
Automated Underwriting
Automated Issue
Application Completion
New Business Underwriting
Policy Delivery & Commissions
Intelligent Forms
Electronic Signatures
Paramedical Quality
Ticket
Credit Cards
Electronic Signatures
eDelivery
eServices
XML Commission Data/On-Line Statements
E-Z Data
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Smart Office App Upload to AG
Future Enhancements:• Additional App Upload Users• Ordering a Teleinterview • Improved Pending Status Feeds• Commission Feeds• Inforce Data Feeds
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Life Insurance Industry Trends
Streamline Imaging
Establish Data Feeds Throughout Workflow
Utilize New Data Sources
Anticipate Change.
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The importance of being innovative*
Study provides perspective on challenges insurers will confront in 2020 and strategies for successful innovation:• What fundamental trends will shape the insurance
marketplace?• What strategic challenges will serve as a catalysts for
change?• How must the industry evolve to meet the needs of
demanding customers?• Can companies distinguish themselves in a market
where the playing field is increasingly leveled by technology?
*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006
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Optimizing today’s “business as usual” will not be enough to create value and ensure success
in 2020 *
Key Findings
• Mega-trends will force the industry to innovate• Old modes of thinking threaten the industry’s ability to
innovate• Interlopers, (i.e., non-traditional distributors) will
increasingly disrupt traditional insurance operations• Industry leadership will require experimentation in
operating models, processes, products and customer relationships
• Strategic investment in business model innovation today is critical to success in 2020
The old model of insurance has been pushed forward by automation for the past 40 years – future success will come from exploiting new models
*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006
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To what extent will the insurance industry change by the year 2020? *
Unrecognizable - 0%
Significant Change - 70%
Incremental Change - 30%
No Change - 0%
*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006
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There will be increased partnership and collaboration across stakeholders in
2020? *
Totally Agree - 40%
Partially Agree - 40%
Partially Disagree - 15%
Totally Disagree - 5%
Success will favor carriers that recognize the power of collaboration and act on it sooner than later*
*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006
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Strong financial performers are more likely to emphasize business model innovation *
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Underperformers Outperformers
% o
f em
phas
is b
y in
nova
tion
prior
ity
Products/ services/ markets
Operations
Business Model
Business model innovation will allow the insurance industry to improve their financial performance
*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006
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Smart Office App Upload
Thank you!