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Client Success Snapshot
Client Profile:
- Overview: A major health insurance provider
- Industry: Insurance (Healthcare)
- Team Size: 48,700
- Annual Revenue: US$ 77.16 billion
- Headquarters: Louisville, KY
- Markets: USA
The Challenge
An insurer’s broker platform was inflexible, making it difficult to meet customers’ expectations. Even worse, it took brokers weeks to provide clients with quotes, which resulted in lost business. The issue stemmed from the organization’s outdated legacy system. It was using different programs for product design, customer rating, and quoting — none of which communicated with each other. The problem was so dire that the insurer had to rebuild portfolios from scratch if it wanted to make any product changes.
Gerent's Approach
Gerent created an end-to-end commercial sales system that removed outdated procedures while consolidating its programs onto a single platform. The comprehensive platform allowed brokers to manage product catalogs, ratings, sales automation, underwriting, and renewals from one interface. The portal also enabled brokers and groups to shop and quote using rule-based workflows, as well as manage complex group installations and make timely product deliveries post-sale.
Key Outcomes
Post-implementation, all products were visible and configurable within a single system, significantly improving the broker and customer experience. Best of all, brokers could deliver quotes within minutes rather than weeks. The health insurer was then able to consolidate its product lines into price medical (1900+), dental (40+), vision (20+), and spending accounts (4), and access them all through a single platform.
Client Success Story
In 2018, Gerent was approached by one of America’s foremost health insurers. The company’s stellar reputation drove it to ensure that it delivered the best possible solutions to its members. However, the insurer had a problem: its broker platform was causing it to fall short of the standards it set for itself. The company’s platform was inflexible, making it difficult to meet customers’ expectations. Even worse, it took brokers weeks to provide clients with quotes, which often resulted in lost business.
The issue stemmed from the organization’s outdated legacy system. It was using different programs for product design, customer rating, and quoting — none of which communicated with each other. The problem was so dire that the insurer had to rebuild portfolios from scratch if it wanted to make any product changes. Compounding the issue was the fact that the IT department's input was required to make these changes, further delaying the time it took to get a quote into the hands of a client.
It was becoming increasingly difficult for brokers to launch new products — which are required to integrate with old ones. In fact, it was not uncommon for the team to not know where to find its product data and attributes.
Vlocity Enables High-Speed Quoting
Gerent began by architecting a sales and onboarding solution. We created an end-to-end commercial sales system that removed outdated procedures while consolidating all of the company’s programs onto a single platform. This allowed brokers to manage product catalogs, ratings, sales automation, underwriting, and renewals from one interface.
The consolidated platform supported a flexible product model in which market needs could be met and delivered in an expedited manner. The portal also enabled brokers and groups to shop and quote using rule-based workflows — with a post-sales component that could be used to manage complex group installations and deliver projects on time.
Next, Gerent implemented Vlocity, which introduced new sales design capabilities, including a shopping cart experience and a ‘favorites’ list for customers. The solution also benefited prospects, as it enabled the insurer to configure its dental and vision plans and see real-time quote adjustments.
The new broker experience follows six simple steps:
- Small group customers request quotes on the public website. Information from these leads is collected and recorded in Vlocity
- An internal sales agent creates a new group census
- The sales agent begins the quote and confirms company information, modifying the census as required
- The sales agent selects plan type, whether it is medical, dental, vision, or spending account
- Shopping cart experiences are selected for the customer based on their plans and other information
- Quotes are generated and sent via email, with the entire sales cycle tracked from within Salesforce
Digitization to Elevate Company Standards
Post-implementation, all products were visible and configurable within a single system, significantly improving the broker and customer experience. Best of all, brokers could deliver quotes within minutes — rather than weeks. Brokers can now engage more frequently with customers and provide them with a wider array of recommendations.
The company’s entire product line was brought into the Vlocity Benefits Catalog and Benefits Rating platforms. The health insurer was then able to consolidate its product lines into price medical (1900+), dental (40+), vision (20+), and spending accounts (4) — and access them all through a single platform.
Contact Gerent today to find out how we can help your business achieve its ideal future state!
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