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Sales Ready Messaging Materials CCS Phase 1

Insurance

October, 2009

Table of Contents
Industry Background Segment Composition Functions and Key Activities Common Performance Issues Summary of Goals Sales Ready Messaging (SRM) Materials, by Function: Sales / Agents Marketing Underwriting Claims & Policy Administration Finance BI / Reporting IT

Segment Composition Financial Services


Sector Financial Services

Industry

Securities & Investments

Banking

Insurance

Sub-Industry

Investment Banking Offer corporate finance and financial products to capital markets Offer trading and brokerage services

Retail Banking Offer consumer deposit banking and credit products Provide commercial banking Provide full service banking to private clients

Property & Casualty Sell and administer insurance policies for property and accidental injury

Life & Annuities Sell life insurance policies

Investment Management Manage mutual funds Manage assets for private customers, institutions, and hedge funds

Credit & Lending Offer consumer lending and mortgage products Offer commercial credit and lending services

Offer annuities products for investment and insurance Health Insurance

Sell and administer health insurance plans and policies

Asset Services Provide fund administration and back office services Provide custody and securities lending

Payments & Transactions Provide payments, clearing, and settlement services Reinsurance Offer reinsurance to primary insurance carriers

Functions and Key Activities Insurance


Typical Insurance Carrier
Back Office Finance Planning Reporting Accounting Cash Management Billing & Collections Billing Collections Payments Risk & Compliance Compliance Investigation Risk Management Human Resources Processing Policy Administration Policy Origination Policy Administration Service Level Management Claims Claims Processing Claims Adjustment Claims Investigation Claims Settlement Fraud Management Litigation Management Salvaging Front Office Product Management Product Planning & Design Product Performance Product Management Underwriting Risk & Exposure Management Underwriting Actuarial Control Investment Management Portfolio Management Distribution Marketing Corporate Marketing Local Marketing Business Planning Producer Compensation Sales Captive Agents (direct) Independent Agents Institutional Sales 3rd Party Channels CRM Customer Relationships Customer Analytics Customer Service Call Centers Online Access / Self Service

Investment Performance
Secondary Markets Reinsurance Securities

BI / Reporting
IT

Note: Specific structure may vary by company

Common Performance Issues Insurance

Declining Sources of Revenue


The industry is several years into a soft market where all types of insurance are more readily available, and insurers are forced to compete for business on the basis of rates. Price competition results in an overall decline in the growth of net written premiums and lower profits. A significant portion of revenue has historically come from investment returns in products such as mortgage-backed securities. The current market has significantly impacted this revenue stream, with some insurance-held portfolios having suffered losses.

Increasing Payouts and Costs


Consumers and businesses purchase insurance to compensate them in the event of a loss, and insurance companies have been paying out a lot lately to cover losses. With nine major earthquakes worldwide; wildfires across the western US; floods, tornadoes, hail, and wind throughout the central plains states, insured catastrophe losses and resulting payments reached $3.4 billion during the first quarter of 2008.

Fragmented Customer Base


The insurance industry is faced with an increasingly fragmented customer base, with each portion having distinctly different preferences and behaviors when it comes to picking their insurance channel. These channel preferences change over time, introducing more complexity into operations than many insurers are accustomed to dealing with. Driving business innovation through IT is very important. Strategic technology helps create differentiated products and identify new approaches to delivering these services.

Unforeseen Risk Factors


The Insurance industrys risk forecasters the actuaries statistically do little better than breakeven most of the time. Years when the industry is hit hard by catastrophes like hurricanes or poor financial market performance likely mean poor profitability. The industry must create the agility to quickly adapt to changing market conditions: Demographics Globalization Financial Markets Regulatory Compliance Catastrophes

Sources include Gartner, Forrester, and IDC

Summary of Goals Insurance

Enable and incent agents to sell more of your products more profitably Improve sales forecasting, tracking, and management Control / reduce operating costs

Sales

Segment and maximize profitable target markets Create appealing and high-performing products aligned with buyer needs Improve effectiveness and yield of campaigns and promotions

Marketing

Improve understanding of risk performance and profitability against models Optimize policy approval decisions and risk classifications More proactively discover risk concentrations in policy portfolio Improve claims management and loss control Optimize claims approval decisions to reduce leakage Improve ability to identify recoverable losses Minimize claims processing costs and improve service levels

Underwriting

Claims

Better manage cash and working capital Streamline planning, budgeting and financial reporting Improve governance, operational risk management, and compliance

Finance

BI / Reporting

Optimize operational reporting processes


Improve usability and quality of data

Provide flexible analysis capabilities within an optimum IT environment Implement & roll out new analysis capabilities on time and within budget Optimize IT management and control

IT

Sales Ready Messaging

KEY

Prospecting Phone Calls (BDR s) Process Flow Overview


INBOUND

= SRM = STANDARD TRANSITON TEXT = DELIVERABLE/ACTION ITEM

OUTBOUND

Sales

Industry: Function:

Insurance Sales

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other sales leaders in your industry is their frustration with (insert issue(s) from list below). Limited ability to identify cross-selling and up-selling opportunities in the field Independent agents selling competitors products Inaccurate forecasting and tracking, especially in independent agent channels Sales and operational costs being too high Weve been able to help our customers maximize the profitability of their sales channels, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance Sales

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Enable and incent agents to sell more

Company: Critical Goals / Issues:

A life-insurance subsidiary of a global insurance carrier The company sells its products through a network of over 7000 independent agents, and was struggling with how to best support these agents and track their performance and profitability. Agents wanted better information to improve cross-selling and up-selling effectiveness., and the ability to track their own sales and commissions against goals. The company knew that providing this capability would help increase loyalty and help agents sell their products vs. the competition. The challenge was to design a solution simple enough for a large untrained audience, yet flexible enough to handle the diversity of questions from such a user base.

of your products more profitably Improve sales forecasting, tracking, and management Control / reduce operating costs

Capabilities:

The company had recently purchased QlikView for internal analysis, and decided to utilize it to provide the following capabilities : Offer individual agents an up-to-date view of customers, products, buying trends, and reenrollment opportunities, and allow them to uniquely explore and analyze Offer individual agents a graphical way to track and their own sales commissions against goals and incentives Allow regional and corporate sales managers to track and analyze up-to-date sales and profitability for their territories against forecasts Dynamically calculate information without long delays to account for high transaction volumes Preserve information hierarchy and security The companys agents and business community immediately adopted the application, resulting in increased sales and more accurate sales tracking and forecasting.

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


How are you enabling and incenting agents to sell your products today?

Industry: Function: Goal:

Insurance Sales
Enable and incent agents to sell more of your products more profitably

What solutions are you considering?

Diagnostic Questions
Topic 1: Cross-selling and up-selling How do your agents currently identify the most profitable target customers, with the highest propensity to buy, and offer them the best products and services? Do you have a mechanism for agents to uncover the best sales opportunities? Is this information distributed through reports? Are the reports static in nature? Does this limit the ability for your agents to find and take advantage of opportunities in their customer base? How much in lost sales opportunities do you think you miss? Event: Question: Player: Action:

Usage Scenarios
When targeting your customer base Could you increase cross-selling and up-selling and incent agents to sell more of your products if Your agents Could graphically analyze a complete set of customer and product data through an online application, and explore further as needed to narrow down to the best candidates for cross-sells and up-sells, based on current market situations and product promotions?

Topic 2: Products and promotions How do your agents become aware of new products and promotions? What information do you prepare and distribute to agents and customers? Do agents always have the most current information about products and marketing programs? Do they ever request additional information? Are there delays in them getting it? Is there missed market opportunity as a result? What is the financial impact?
Topic 3: Agent incentives How do your agents currently track their individual sales performance and progress towards incentives? Do you provide your agent community with information periodically on their sales and profitability performance? Is this information provided in reports? Are independent agents selling competitors products instead of yours? Is this due to more enticing incentives or a better ability to track performance? How much lost sales result from agents selling competing products? Topic 4: Information on the go What options do agents have to get current information outside the office? What happens if sales opportunities arise and agents arent at their computer? What is the impact of not being able to immediately prepare for unforeseen customer situations or respond to the customer questions in the field? How much in sales opportunities have been lost?

Event: Question: Player: Action:

When selling products and services Could you increase sales and capture lost market opportunity if Your agents Could access new product information, promotions, incentive programs, and special offers through an online application, and could explore their customer base and fit products and promotions to the best prospects, through simple mouse clicks?
When selling through independent agents Could you increase the percentage of your products sold if Your agents Could analyze their up-to-date sales activity through an online application, to determine performance and track progress towards incentives, by simply clicking on charts and graphs?

Event: Question: Player: Action:

Event: Question: Player: Action:

When selling products and services Could you improve sales capability in unforeseen situations if Your your agents Could perform ad-hoc analysis on customers, products, promotions, and performance through a laptop or mobile device, with the same flexibility and power as if they were in the office?

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


How do you go about building and tracking your forecasts currently?

Industry: Function: Goal:

Insurance Sales
Improve sales forecasting, tracking, and management

What solutions have you considered to improve forecasting and tracking accuracy?

Diagnostic Questions
Topic 1: Goal setting What is your process for establishing sales goals and individual quotas? Are your decisions ever based on gut feel or anecdotal evidence? Has this led to unrealistic goals being established? Do unrealistic goals (too high or low) cause salespeople to lose motivation? Does this result in lost sales? How much is being lost? Topic 2: Agent performance How do you currently track and manage agent performance? How long does it take to become aware of poor performers? Can you measure performance in terms of both premium revenue and profitability of policies sold? How much of your time is spent gathering and analyzing this information? How much money is lost in poor sales performance because of delayed information or situations going unnoticed? Topic 3: Tracking against forecasts How do you currently compare actual revenue to goals? Do you have the flexibility you need to analyze the business in a multitude of ways depending on questions that typically arise? Is this process manual in nature? How much time is spent compiling information and views of performance? Is this every delayed? What is the financial impact to the business if sales performance information is delayed or limited? Are sales opportunities lost? How much? Topic 4: Adjustments to forecasts What is your process for adjusting sales goals and forecasts periodically as needed? What information do you rely on to re-allocate or re-forecast? How do you go about compiling that data? How many data sources are needed? Is the consolidation process manual? Is it time consuming? Do information shortages result in less than optimal re-allocation of goals? Does this limit your ability to make up for sales shortages? By how much? Event: Question: Player: Action:

Usage Scenarios
When allocating sales goals Could you set more accurate goals and thus increase sales if You Could analyze sales performance against forecasts across any point in time, and by any dimension such as geography, customer segment, and line-of-business, through simple mouse clicks? When managing agent performance Could you more comprehensively and quickly identify underperforming agents and improve sales if You Could analyze sales performance and profitability at the agent level, compare actual sales against goals, benchmark against peers, and uncover underlying drivers such as prospect conversion or customer defection rates? When managing sales Could you more proactively track performance and improve sales in key business areas if You Were able to analyze actual sales data against forecasts from any time period, for any dimensions that you determine through simple mouse clicks, to uncover achieving vs. non-achieving areas of the business and measure those variances? When managing ongoing sales Could you more accurately adjust forecasts and make up sales if You Could use current data to not just analyze high-level trends, but also drill into that data to determine root causes of discrepancies, and then test success probability of proposed actions?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What cost control and reduction efforts are currently in place?

Industry: Function: Goal:

Insurance Sales
Control and reduce sales costs

What solutions have you considered to reduce operating costs?

Diagnostic Questions
Topic 1: Controllable and non-controllable costs What process do you use to determine your sales and operating costs? Do controllable costs make up a high percentage of your P&L? What reports are needed to analyze expenses and other controllable costs? How long does it take for expense anomalies and other key indicators to become visible in reports? Do some of these go unnoticed? What is the increase in expenses and costs as a result? Topic 2: Employee productivity What reports and information do you use to track employee productivity and efficiency? How long does it take for your to become aware of sub-optimal performers? Can you determine what external factors may be contributing to low (or high) productivity? How much of your time is spent gathering and analyzing this information? What is the associated cost? Event: Question: Player: Action:

Usage Scenarios
When managing sales costs Would it help you more comprehensively discover and reduce controllable expenses if You Could analyze all expenses across any time frame by controllable and non-controllable categories, in a single application, and could isolate areas where spending was over tolerance, determine outliers, and preempt non-necessary costs? When managing sales staff Could you identify underperforming employees and improve employee efficiency if You Could track productivity at the employee level through a graphical application, comparing actual employee efficiency against goals, benchmarking against peers, and analyzing key indicators to uncover underlying factors that drive productivity?

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Marketing

Industry: Function:

Insurance Marketing

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other marketing leaders in your industry is their frustration with (insert issue(s) from list below). Limited ability to identify the right target segments in the marketplace Products that incur losses and are not directly tied to customer demand Poor performing campaigns and promotions that do not generate profitable business Weve been able to help our customers maximize the profitability of their marketing activities, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance Marketing

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Segment and maximize profitable

Company: Critical Goals / Issues:

The insurance arm of a major international financial group In order to acquire and retain customers in what was becoming a fiercely competitive market, the company sought to change its approach to marketing to be customerfocused instead of business-line focused. The marketing group sought to better utilize customer data to identify opportunities for up-selling and cross-selling promotions and campaigns across business lines. The company had a massive volume of customer data, but couldnt provide the right answers at the right times for the 200+ marketing and sales users that needed information. Not only did the company have to consolidate customer and portfolio data from a multitude of sources, they had to make it easily accessible and actionable so users could share complete customer profiles across the company.

target markets Create appealing and high-performing products aligned with buyer needs Improve effectiveness and yield of campaigns and promotions

Capabilities:

The firm selected QlikView to provide the following capabilities: Unify a large volume of customer data from across the organizations businesses into a single view Allow graphical exploration and analysis of customers and their complete portfolios to identify opportunities for cross-sell and up-sell campaigns Create lists of optimal targets for campaigns and promotions across business lines. The company was able to Increase revenue and wallet share from expansion of customer portfolios, while at the same time reducing the average time spent per user on customer analysis (for 200+ users) by 5 hours per week.

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


What are you doing today to maximize market potential?

Industry: Function: Goal:

Insurance Marketing
Segment and maximize profitable target markets

What solutions are you considering?

Diagnostic Questions
Topic 1: Existing customer wallet share How do you currently segment your existing customer base? Do you analyze existing customer and sales data to uncover buying priorities and determine the best targeting strategy? How do you currently gather and analyze this information? Is the process manual? Do you rely on reports with a predefined number of limited views? Are opportunities being missed to expand wallet share as a result of not fully capitalizing on characteristics of buyers? Whats the financial impact? Topic 2: New customer acquisition How do you currently analyze and segment the market of potential buyers? What sources of data do you utilize today around customer needs and trends? Are there sources of research you would like but cannot currently access? What is the level of effort required to utilize existing data sources or add new ones? Is the process manual? Are spreadsheets or reports used? Are you missing opportunities to capture new customers and increase sales as a result of not optimally using market data? Whats the financial impact? Event: Question:

Usage Scenarios
When segmenting existing customers Could you increase effectiveness of segmentation, increase crossselling, and improve customer wallet share if You Could perform unrestricted slicing and dicing of a complete set of current and historical customer and sales information, and analyze buyer characteristics and trends, asking follow-up questions and drilling deeper as needed, by simply clicking on charts and tables? When segmenting the marketplace Would it help acquire new customers and increase sales if You Could click on a series of interactive charts and graphs, to analyze market data, discover trends and forecasts, and combine this information with existing market segmentations, to refine and take advantage of the total market opportunity?

Player: Action:

Event: Question: Player: Action:

Topic 3: Customer retention What is your current process for ensuring customer retention? Do you currently analyze customer information to determine defection drivers? Do you proactively identify segments with a high likelihood of defection? What data do you use for this? Do you rely on reports or spreadsheets? Are you missing opportunities to retain customers as a result of not fully identifying defection drivers? What is the financial impact?
Topic 4: Competitive action How do address competitive activity in the market? Do competitive actions around pricing or promotion ever affect performance? Do you gather information that alerts you to this type of activity? Do you sometimes go unaware of competitive action? Does this result in lost sales? What is the financial impact?

Event: Question: Player: Action:

When segmenting existing customers Would it help increase customer retention if You Could graphically analyze a complete set of current and past customers, as well as sales, pricing, and market data, to ask a series of investigatory questions, uncover trends in customer defection, and apply these findings to prevent future defection?
When competing in the marketplace Could you improve competitive response and market share if You Could access competitive marketing, pricing, and promotional information from a number of market sources, and integrate that information in a single graphical application with your internal data, to better plan and respond to competition?

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could

Solution Development Prompter


What are you doing today to optimize products?

Industry: Function: Goal:

Insurance Marketing
Create appealing and high-performing products aligned with buyer needs

What solutions are you considering?

Diagnostic Questions
Topic 1: Product profitability How do you understand performance and loss ratios by product today? Is your analysis limited to high-level information? Do you have the ability to drill into trends and patterns to find underlying drivers that affect performance? Is this information supplied in reports? Is it compiled manually? How frequently do you receive the information? Is information ever outdated? Have delays or limited views of product profitability affected decisions about what to focus on in the market? Has this affected margins? By how much? Topic 2: Risk and customer based pricing How do determine your pricing strategy? Do you manage complex models for pricing based on risk profiles? Do you consider customer demand in pricing products? Are your products priced to maximize margin opportunity in the market? Do you think theres untapped potential being left in the market? How much do you think you are losing? Topic 3: Product mix What is your process for managing your product mix? Do you rationalize your product portfolio around current trends in the market? Do you ever have to innovate or adjust offerings to meet demand? Have you ever introduced new products that did not perform well or discontinued products that were performing well? Was this due to a lack of available or timely enough market or customer information? What was the impact on profitability? Topic 4: Competing products How do address new product offerings from competitors? Have new products from competitors ever affected performance? Do you gather information that alerts you to new products, changes in product characteristics, or price changes from competitors? Do you sometimes go unaware of competitive action? Does this result in lost sales? What is the financial impact? Event: Question: Player: Action:

Usage Scenarios
When reviewing the relationship between customer demand and product / service performance Could demand be better met if Your product marketing team Could graphically match up-to-date product sales performance with current inventory levels to better align to customer demand, or to create new demand based upon available product offerings? When determining pricing strategy Would it help to maximize margins and profitability if Your product marketing team Could visualize graphically the performance of products relative to customer demand and risk profiles, and test what-if scenarios to adjust price for maximum market potential? When determining pricing strategy Would it help to maximize margins and profitability if Your product marketing team Could visualize in a graphical portal the performance of products relative to customer demand and cost of development, and test what-if scenarios, to set price to maximum market potential

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

When competing in the marketplace Could you improve competitive response and market share if You Could access competitive product and pricing information from a number of market sources, and integrate that information in a single graphical application with your internal data, to better plan and respond to competition?

Recap: So your current situation is

Confirm solution: If you had (capabilities) could

Solution Development Prompter


What are you doing today to improve campaign effectiveness?

Industry: Function: Goal:

Insurance Marketing
Improve effectiveness and yield of campaigns and promotions

What solutions are you considering?

Diagnostic Questions
Topic 1: Quantity of leads How do you select targets for campaigns and promotions today? Does your targeting process always yield the most qualified customers and prospects? How many customers do you target per campaign on average? How many campaigns do you run per year? Do you think that youre missing opportunities by not targeting optimal candidates? What % of leads or sales do you think youre missing? Topic 2: Quality of leads How do you design campaigns and promotions today? Do you analyze customer demand, product profitability, and market factors? Do you always make the best offers to the best prospects at the right times? How do you go about linking information together to use for campaign design? Is the process manual? Are you limited to pre-defined reports? Do you think that the quality of leads is sub-optimal as a result? How does this impact profitability of sales? Does this increase risk? Topic 3: Multi-channel integration Which channels do you currently sell and market through? Do you understand how channels are performing? Do you promote products across channels in a coordinated fashion today? Are you best enabled to maximize selling potential of every customer touch? How many times do you touch a customer on average per year? Are there missed sales opportunities? How much do you lose? Topic 4: Local and regional marketing Do your local agencies, regions, or business lines run their own promotions? Do they have access to customer and product information to design the right campaigns and target the right prospects? Is this information provided in static reports? Does this hinder individual regions from answering their unique questions? Does this limit ability to capitalize on local opportunities? How much is lost? Event: Question: Player: Action:

Usage Scenarios
When designing marketing campaigns and promotions Would it help you increase campaign yield if You Could access and select any customer segment, branch, or region, and analyze propensity to buy products, through the use of graphical charts and reports, to identify the best targets for campaigns or promotions? When designing marketing campaigns and promotions Would it help you increase profitability of leads if You Could graphically analyze customer demand, product profitability, and market data in a unified view, and explore this information to identify the most profitable opportunities in the market, to design optimal campaigns and promotions? When interacting with customers through multiple channels Could you increase sales and profitability if You Could analyze channel performance on a per-product basis, in conjunction with a 360 degree view of customers, to identify which products should be promoted to what customers through what channels and maximize the potential of every interaction? When marketing at the local level Could you increase marketing yield and profitability if Your regional marketing teams Could access customer and product information through a graphical application, and could answer their unique and unpredictable questions, specific to their local situation, through just a few mouse clicks?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Underwriting

Industry: Function:

Insurance Underwriting

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other underwriting executives in your industry is their frustration with (insert issue(s) from list below). Lack of understanding of how policies are performing relative to risk models and forecasts Poor policy decisions that result in too many losses Unacceptable risk exposures and concentrations in your policy portfolio Weve been able to help our customers increase the profitability of their underwriting activities, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance Underwriting

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Improve understanding of risk

Company: Critical Goals / Issues:

A major international property and casualty, life insurance, and investments company The companys underwriters lacked the ability to analyze past performance and factor it into their decisions on complex corporate policies. This was driving increased loss ratios and reduced overall profitability in the corporate business. A massive volume of customer. policy, claims, and loss information existed in multiple systems, databases, and spreadsheets. making it difficult to for underwriters to get the meaningful insights they needed to make optimal decisions and minimize risk. The companys reporting was overwhelmed with requests for information.

performance and profitability against models Optimize policy approval decisions and risk classifications More proactively discover risk concentrations in policy portfolio

Capabilities:

The company decided to utilize QlikView to provide the following capabilities: Link together insurance systems to offer a unified view of written premiums, customers, claims, and losses Allow fast and flexible exploration and analysis by customer, type of damage, product, and country Deploy across multiple divisions of the company Better assess risks and business potential of insurance solutions The company was able to provide uniform, valid, and reliable information to empower underwriters to make faster and more informed decisions, while at the same time reduce the workload of their reporting group by over 90%

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


What are you doing today to improve understanding of risk performance?

Industry: Function: Goal:

Insurance Underwriting
Improve understanding of risk performance against models

What solutions are you considering?

Diagnostic Questions
Topic 1: Losses and loss ratios How do your underwriters evaluate policy losses now? Can they get the views they need of current and historical loss ratios? How do they go about compiling this data? Is this currently a manual process? Is the information and analysis accurate and timely? Have you incurred extra risk and thus losses as a result of lack of timely and accurate information? How much? Topic 2: Risk performance against predictions What process do you use to determine how well policy decisions and risk forecasts are performing at any moment? Can you get the views you need of current and historical loss performance? Is this currently done through a manual process? How much time is spent gathering this data? Is the information delayed? What are the costs of manual data consolidation and risk impacts of delay? Topic 3: Focus on profitable business segments Do you have the ability to identify which customer segment and product combinations perform the best, both in the current period and historically? Do you rely on static reports or manual analyses to do this currently? How much time is spent performing this analysis? Is the information delayed? How much do you feel you are incurring in additional losses by not factoring segment specific performance into underwriting decisions? Topic 4: Refinement of risk categories and models What is the current process for adjusting risk categories and models? What information do you rely on to determine what adjustments to make? Can you accurately determine the loss performance impacts of potential changes to claims volume or premium revenue? Has this resulted in missed opportunities for performance improvements? What has been the increased risk and associated financial impact? Event: Question: Player: Action:

Usage Scenarios
When seeking to understand performance Could you reduce risk, losses, and manual data gathering if Your underwriters Could graphically view and investigate an up-to-date, consolidated, and accurate set of customer, policy, claims, and loss ratio information, in an ad-hoc fashion, through a series of mouse clicks? When managing risk performance Would it help you improve performance against targets and better measure the accuracy of forecasts if You Could graphically analyze an up-to-date set of actual loss and profitability information, and directly compare this information to predictions, through a series of mouse clicks? When looking to understand business segment performance Would it help you increase the focus of your underwriters on profitable business segments if You Could utilize a flexible, graphical system to explore up-to-date performance data by a number of business dimensions in order to determine which segments are performing the best? When trying to predict risk and profitability Could you refine and improve the accuracy of risk categories and models if You Could analyze an up-to-date set of loss-ratio information and perform what-if analysis to quickly assess the potential impacts of changes to claims volume or premium revenue?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are you doing today to optimize policy approval and pricing decisions?

Industry: Function: Goal:

Insurance Underwriting
Optimize policy approval decisions and risk classifications

What solutions are you considering?

Diagnostic Questions
Topic 1: Risk classification of applicants How do you currently classify applicants? Is it an automated process to apply classifications to individual applications? Are there exceptions? Do your underwriters have access to complete customer and claims history information when classifying, pricing, and approving policy applications? Are classification and approval decisions less than optimal as a result? By how much does this increase risk and associated losses? Topic 2: Comparisons to similar policies How do you handle corporate or complex policy applications? Is there an extensive underwriting process involved? Do you use existing similar policies and their associated performance information for benchmarking? Do your underwriters always find the best existing policies for this purpose? What is has been the impact on risk and losses due to not fully leveraging the right historical information? Topic 3: Price optimization based on risk and profitability targets How do you determine the best rates and terms for policy applications? Is this a standardized process all the time or is there discretion involved? Does this depend upon the type of policy or product involved? Are prices typically optimized to account for risk and maximize profitability? How much margin has been lost due to sub-optimal pricing decisions? Topic 4: Price refinement based on competition and value to customer What is your process for factoring competitor products and buyer demand into the pricing process? Is this a manual process for gathering market data? Is the customer demand and competitor information complete, timely, and ac curate? Are you losing market share as a result of not pricing competitively or adapting to trends in customer needs? How much market share has been lost? Event: Question: Player: Action:

Usage Scenarios
When evaluating policy applications Would it help you improve the risk classification of applicants and reduce losses if Your underwriters Had immediate access to a complete set of customer, policy, and claims history information, and the ability to interactively analyze and explore the information as they need? When evaluating complex policy applications Could you reduce risk and optimize pricing if Your underwriters Were able to narrow down to and graphically analyze the best policies to benchmark against, including their associated claims and performance history, through a series mouse clicks?

Event: Question: Player: Action:

Event: Question: Player: Action:

When determining pricing for policies Would it help you optimize pricing to increase margins if Your underwriters Could analyze a complete customer profile, including customer attributes, claims, and comparable policy performance, in conjunction with profitability objectives, through simply clicking on charts and graphs? When considering customer demand and competitor products Could you optimize pricing, increase sales, and reduce manual data gathering if Your underwriters Were able to graphically explore a complete set of market data, including customer demand and competitor product information, and compare this information to current pricing?

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are you doing today to manage exposure in your policy portfolio?

Industry: Function: Goal:

Insurance Underwriting
More proactively discover risk concentrations in policy portfolio

What solutions are you considering?

Diagnostic Questions
Topic 1: Risk concentrations in policy portfolio What is your process for identifying and managing risk exposure concentrations in your policy portfolio? Do you rely on reports or pre-defined tolerance levels or thresholds? Can you quickly and proactively uncover new concentrations in respond to unforeseen market events? Do you suffer losses as a result of lack of identification of hidden exposure concentrations? What do these losses amount to? Topic 2: Policy portfolio diversification What is your process for diversifying products, geographies, and customers in your policy portfolio? Do you feel confident that risk is adequately allocated across dimensions? Do you ever encounter new circumstances requiring immediate visibility and proactive steps to rebalance risk? Can you respond quickly to these? What has been the impact in terms of losses of being over-exposed? Topic 3: Exposure to potential catastrophes (plausible emergency) What steps do you take to make sure you are protected against possible natural disaster and catastrophe scenarios? How do you currently assess exposure to and plan for these situations? Can you quickly and accurately identify what you stand to lose in an unforeseen disaster scenario? Have you seen losses as a result of less than adequate planning? How much? Topic 4: Market intelligence and prediction Do you have a process for predicting market events and catastrophes? What market data do you use as part of this process? Do you feel like you take full advantage of market information to predict losses in your portfolio? Can you determine the severity of these losses? How much have you lost as a result of not fully utilizing market data? Event: Question: Player: Action:

Usage Scenarios
When managing exposures in your policy portfolio Could you more effectively uncover hidden risk concentrations if You Had the ability to perform unrestricted ad-hoc slicing and dicing of your policy portfolio to identify exposure concentrations, receiving customized graphical views at each step in the process, through just a series of mouse clicks? When seeking to minimize portfolio risk Would it help you improve diversification of exposure and reduce risk if You Could graphically analyze product mix, geographic concentration, and customer demographics in an ad-hoc and unrestricted fashion, and take next steps to drill deeper as needed? When planning for catastrophes Would it help you act more proactively and reduce losses in the event of a disaster if You Could immediately ask any question driven by unpredictable scenarios, assessing exposure and determining extent of potential losses, based on a complete and up-to-date set of policy data? When predicting market events Could you more accurately forecast potential losses if You Had the ability to investigate and analyze market data alongside your policy portfolio to uncover key exposure concentrations, through charts and graphs that highlight trends and key indicators?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Claims

Industry: Function:

Insurance Claims

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other claims executives in your industry is their frustration with (insert issue(s) from list below). Claims leakage and unnecessary payments resulting in losses Inability to identify recoverable losses for reinsurance or subrogation Claims processing costs being too high and service levels being sub-par Weve been able to help our customers increase the effectiveness and profitability of their claims activities, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance Claims

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Improve claims management and loss

Company: Critical Goals / Issues:

A large health insurance firm As a healthcare company, the firm processes enormous amounts of data, mostly driven by codes for test and procedure descriptions, diagnoses, provider IDs and more. The company was challenged in understanding claims activity and performance, and making this information immediately available and usable to control losses and support representatives working with physicians, hospitals, pharmacies and other providers. The company had over 140M rows of data in a data warehouse, as well as multiple other sources such as processing systems and spreadsheets, making it difficult to manage claims performance holistically while at the same time improve customer service through providing individual claims details.

control Optimize claims approval decisions to reduce leakage Improve ability to identify recoverable losses Minimize claims processing costs and improve service levels

Capabilities:

The company selected QlikView to provide the following capabilities: Provide instant access to claims information and performance for claims and risk decision support Enable representatives working with physicians, hospitals, pharmacies and other healthcare providers to ask ad-hoc questions and get immediate answers to support employee and customer inquiries Provide management with advanced visualizations of trends, patterns, and performance, and allow unrestricted slicing and dicing down to the claims level The firm has dramatically improved customer service, streamlined communication with care providers, improved claims processing, and enhanced competitive advantage, realizing ROI within the first month of use and totaling approximately 1.2M in 4 years.

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


What are you doing today to improve claims management and control losses?

Industry: Function: Goal:

Insurance Claims
Improve claims management and loss control

What solutions are you considering?

Diagnostic Questions
Topic 1: Current claims activity What is your process for monitoring current claims activity? Do you have the ability to spot emerging trends and patterns on a daily / weekly / monthly basis? How do you currently investigate anomalies to uncover the underlying drivers? Are your reacting too slowly to emerging trends in claims activity? Is this producing increased losses? How much? Topic 2: Historical claims volume and impact How do you currently analyze historical claims volume and losses? Can you get the variety of views you need of the information? Are there new views that you need on a regular basis? Is this analysis currently done through a manual process? Are reports generated? How much time is spent gathering this data? Is the information delayed? What are the costs of delay to business decisions? Topic 3: Claims forecasting How do you currently forecast claims volumes and amounts? Do you compare actual claims and losses to predictions? Do you refine your predictions based on these comparisons? Can you accurately determine potential impacts of changes to claims volume? Are these processes manual in nature? Do you experience delays? What is the impact on losses of inaccurate or delayed forecasts? Topic 4: Fraud detection and investigation What is your current process for spotting suspicious claims or potential fraud? Do you rely on automated systems or is this a manual process? Does your staff manually investigate situations as they arise? Is this process sometimes lengthy and tedious? Are you confident that you uncover most fraudulent claims? Do you sometimes approve these in error? How much do you think you lose as a result? Event: Question: Player: Action:

Usage Scenarios
When monitoring current claims activity Would it help you better prepare for market events and reduce losses if You Could graphically analyze a consolidated and up-to-date set of claims information, by product, region, age band, and individual policy, to uncover emerging trends and patterns? When analyzing historical claims Would it help you minimize manual effort and improve time to value of historical information and analyses if You Had access to a complete set of customer, policy, and claims information, and could slice and dice this information in a unlimited manner, to improve insight from historical performance? When forecasting claims Would it help you better refine forecasts and improve measurement of performance against goals if You Could compare actual claims volumes and payments to forecasts, and perform what-if analysis to understand potential impacts of changes to claims volumes, through simple mouse clicks? When managing losses Would it help you detect fraud, improve follow-on investigation, and minimize losses if You Had a complete view the customer and policy portfolio, along with all claims history, and could investigate this information down to the transaction level detail, in an unrestricted manner, to test hypotheses and uncover fraudulent claims?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are you doing today to optimize your claims approval decisions?

Industry: Function: Goal:

Insurance Claims
Optimize claims approval decisions to reduce leakage

What solutions are you considering?

Diagnostic Questions
Topic 1: Claims approvals What is your current process for approving claims? Is there an automated component or are staff typically making these decisions? Do your staff have the information they need around customers, policy details, and past transactions to make the best decisions when evaluating claims? Are claims payments ever made when they should not have been? By how much does this affect losses? Topic 2: Historical claims How does your claims staff evaluate historical claims information now? Can they get the views they need of current and historical policies and claims? How do they go about compiling this data? Is this currently a manual process? Is the information and analysis accurate and timely? Have you incurred extra risk and thus losses as a result of lack of timely and accurate information? How much? Topic 3: Claims adjustors Do claims adjustors consider customer information, policy details, and comparable situations when evaluating new claims? Is this information available to them in reports or do they gather it manually? Do they have access to information on the go? Are they making sub-optimal decisions due to lacking this type of information when they need it? How much is being lost due to claims adjustors not having optimal information? Topic 4: Policy lapses How do you factor in policy lapses when making claims decisions? Do your claims staff have access to up-to-date information about policies that have lapsed? Is this information timely and accurate? Do you pay a percentage of claims on policies that have lapsed? How much do you think this contributes to losses? Event: Question: Player: Action:

Usage Scenarios
When evaluating claims Would it help you improve approval decisions and reduce losses if Your claims staff Had immediate access to a complete set of customer, policy, and transaction history information, and the ability to interactively analyze and explore the information in in an ad-hoc fashion, any way they needed? When seeking to understand customer history Could you reduce losses and manual data gathering if Your claims staff Could graphically view and investigate an up-to-date, consolidated, and accurate set of customer, policy, and historical claims information, and drill down to the individual claims level, through a series of mouse clicks? When evaluating claims Could you improve consistency and reduce losses if Your claims adjustors Had the ability to analyze customer and policy details and narrow down to comparable situations to compare against, and could do this graphically on the go through their laptop or mobile device? When evaluating claims Would it help you reduce leakage and losses if Your staff Could access a complete, accurate, and up-to-date set of policy information, including lapses, and have this information displayed graphically when corresponding claims are evaluated?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are you doing today to maximize recovery of losses?

Industry: Function: Goal:

Insurance Claims
Improve ability to identify recoverable losses

What solutions are you considering?

Diagnostic Questions
Topic 1: Reinsurance claims How do you determine which claims to file to reinsurance? Is there a standard or automated process? Do you have access to all the policy and claims information you need for this process? Are there opportunities for reinsurance recovery that are sometimes missed? What is the financial impact of these losses? Topic 2: Subrogation How do you determine which claims to file subrogation claims for? Is there a standard or automated process? Do you have access to all the policy and claims information you need for this process? Are there opportunities for subrogation recovery that are sometimes missed? What is the financial impact of these losses? Event: Question: Player: Action:

Usage Scenarios
When seeking reinsurance recovery Would it help you maximize recovery of losses if You Could perform ad-hoc analysis and explore all recent payments, and their associated claims and policy information, to identify the best candidates for reinsurance claims, through a graphical interface? When seeking subrogation recovery Would it help you maximize recovery of losses if You Could perform ad-hoc analysis and explore all recent payments, and their associated claims and policy information, to identify the best candidates for subrogation claims, through a graphical interface?

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are you doing today to optimize your claims approval decisions?

Industry: Function: Goal:

Insurance Claims
Minimize claims processing costs and improve service levels

What solutions are you considering?

Diagnostic Questions
Topic 1: Length of claims processing process What is your current process for processing claims? How long does this typically take? Do your staff have the information they need around customers, policy details, and past transactions to make efficient decisions when evaluating claims? Is there manual data gathering and analysis involved? Does this lengthen processing time and increase cost? By how much? Topic 2: Staffing levels What are your current staffing levels in claims processing? Do you ever have a backlog of claims that requires extra hours or staff augmentation? Is this at least partially due to manual data gathering and analysis? How much extra staffing cost do you incur as a result? Topic 3: Customer service quality How do you currently service customer requests for information? Do your customer service representatives struggle to get the right information for the customer as they need it? Is this due to the wide variety of questions asked by customers? Is there typically a delay in response due to analysis that needs to take place? Does this result in decreased customer satisfaction or customer attrition? Whats the financial impact? Event: Question: Player: Action:

Usage Scenarios
When processing claims Would it help you reduce processing costs and timeframes if Your claims staff Had immediate access to a complete set of customer, policy, and transaction history information, and the ability to perform ad-hoc analysis in any way they needed? When processing claims Would it help you reduce staffing costs if Your claims staff Had immediate access to a complete set of customer, policy, and transaction history information, and the ability to perform ad-hoc analysis in any way they needed? When servicing customer requests Could you improve the timeliness of response, and reduce customer attrition if Your customer service representatives Could graphically select any views of customer, policy, and claims processing details, as needed in an ad-hoc fashion, to answer a customers inquiry on the spot?

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Finance

Industry: Function:

Insurance Finance

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other finance leaders in your industry is their frustration with (insert issue(s) from list below). Lack of visibility into cash and working capital Tedious processes for planning, budgeting and financial reporting Difficulty establishing governance, managing operational risk, and ensuring compliance Weve been able to help our customers increase the effectiveness of their financial management, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance Finance

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Better manage cash and working

Company: Critical Goals / Issues:

A regional division of a leading global insurance company The company was struggling to gain a clear picture of revenue and profitability across 12 countries, and had no ability to break this information down by industry or product. They were spending significant resources on multilevel, manual consolidation and reconciliation of data, causing significant delay and resulting in inaccurate information reaching top leadership.

capital Streamline planning, budgeting and financial reporting Improve governance, operational risk management, and compliance

Capabilities:

QlikView was selected to offer the following capabilities: Automate the consolidation and reconciliation of financial data across countries into a single view Provide ad-hoc revenue and profitability visualization and analysis by a multitude of dimensions, including product, industry, and customer segment, and compare performance to financial forecasts Provide these capabilities with minimal deployment effort, fast speed of deployment, and ease of use and maintenance The company improved global understanding of revenue and profitability by geography, product, industry and client, reduced direct reporting costs by over 200K, and gained the ability to identify new, non-standard segmentations of the market

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


What are you doing today to better manage cash and working capital?

Industry: Function: Goal:

Insurance Finance
Better manage cash and working capital

What solutions are you considering?

Diagnostic Questions
Topic 1: Cash Conversion Cycle How do you manage your cash conversion cycle? How do you identify improvement opportunities in the cycle across each area of payables, inventory and receivables? Is this transaction information spread across many different systems? Do you have a manual process to bring it together and analyze it? Are you missing opportunities to shorten the cash cycle? What is the impact on your cash flow as result of this? Event: Question: Player: Action:

Usage Scenarios
When seeking to understand the cash conversion cycle Would it help you reduce the cycle time and free up cash if You Could analyze an up-to-date set of cash transactions and perform what-if analysis to quickly assess the potential impact on cash if payments were received or invoices were paid later or earlier?

Topic 2: Accounts Payable What is your process for managing accounts payable? How do you currently analyze your payables across dimensions such as aging distribution, vendors and payment terms? Do you struggle with identifying opportunities to defer or lower payments? Is this due to a lack of flexibility in your current reporting system? What is impact on cash flow as a result of this?
Topic 3: Inventory Management What is your process for inventory management across raw materials, WIP, and finished goods? Are you able to get accurate and timely demand forecasts or measure safety stock levels across warehouses, markets and products? Are you carrying excess and obsolete inventory as a result? What is the impact on cash? Topic 4: Accounts Receivable What is your process for managing accounts receivables and analyzing aging distribution and collections levels? Are you struggling to identify which customers have poor payment history? And to identify which sales reps need to be notified to assist in collections? Are you experiencing delayed collections and increased bad debt? What is the impact on cash as a result of this?

Event: Question: Player: Action:

When managing accounts payables Would it help you defer or lower payments if You Could graphically analyze an up-to-date set of outstanding invoices through a series of mouse clicks, and identify opportunities to extend payment terms, garner volume discounts, or identify invoice errors?
When looking to better manage inventory levels Would it help you to reduce excess and obsolete inventory if You Could utilize a flexible, graphical system to explore up-to-date inventory data to better synchronize with demand and optimize safety stock levels across products and markets? When trying to better understand accounts receivables Could you accelerate collections and reduce bad debt if You Could graphically view and investigate, in an ad-hoc fashion, an up-to-date set of receivables information to improve adherence to payment terms and identify a specific list of customers with collections risk?

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


How do you go about budgeting and planning currently?

Industry: Function: Goal:

Insurance Finance
Streamline planning, budgeting and financial reporting

What solutions are you considering?

Diagnostic Questions
Topic 1: Management and financial reporting How do you handle management reporting needs such as P&L, expense information, or exception report requests? Is the information gathered from multiple business areas and systems? Is analysis performed in Excel or other manual tools? Does this result in delay, inaccuracy, or lack of flexibility? What are the financial impacts of sub-optimal management information? Topic 2: Budgeting and forecasting What is your process for budgeting and forecasting financial performance? What information is needed to accurately plan and set realistic earnings goals? Does this data come from multiple areas of the organization? Is data collected or analyzed manually? Is information complete and accurate enough to make the best forecasts and most accurate allocations? Are your planning decisions ever based on gut feel or anecdotal evidence? Has this ever led to unrealistic goals? What is the impact on profitability? Topic 3: Tracking against forecasts How do you compare actual performance to forecasts currently? Do you have the flexibility you need to analyze performance in many ways? Is the tracking process manual in nature? How much time is spent compiling information and views of financial performance? Does this cause delays? What is the financial impact to the business if performance information is delayed or limited in nature? How much profitability is jeopardized? Topic 4: Adjustments to forecasts What is your process for adjusting goals and forecasts periodically as needed? What information do you rely on to re-allocate or re-forecast? How do you go about compiling that data? How many data sources are needed? Is the consolidation process manual? Is it time consuming? Do information shortages result in less than optimal re-allocation of goals? Does this limit your ability to recover lost profitability? By how much? Event: Question: Player: Action:

Usage Scenarios
When performing financial and management reporting Would it help you increase speed, accuracy, and flexibility if You Could graphically analyze and answer management questions, based on a unified and up-to-date set of performance information, with a tool that allows a wide variety of questions to be asked directly by business users? When creating financial forecasts and budgets Could you set more accurate goals and increase profitability if You Could analyze historical financial performance in relation to forecasts, across any point in time, and by any dimension such as geography, customer segment, and line-of-business, with simple mouse clicks? When tracking performance against forecasts Could you more accurately assess and manage profitability if You Were able to graphically analyze real-time performance information against current forecasts, for any dimensions that you determine, to uncover achieving vs. non-achieving areas of the business and measure those discrepancies? When managing on an ongoing basis Could you more accurately adjust forecasts and recover lost profitability if You Could not just analyze high-level trends, but also drill into the current details that determine root causes of poor performance, and then test success probability of proposed actions?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are you doing today to ensure governance and compliance?

Industry: Function: Goal:

Insurance Finance
Improve governance, operational risk management, and compliance

What solutions are you considering?

Diagnostic Questions
Topic 1: Governance & control Describe your current corporate governance structure. Do you have a standard set of governance policies and procedures across the company? Are there control frameworks and policies in place? Do you have tracking systems and procedures in place? Are internal audits performed? Are these efforts manual in nature? Are they effective? Do you struggle to gain a complete and timely understanding of where standards are not being met? Does this result in increased risk or cost? What are the financial implications? Topic 2: Operational risk management What is your current process for managing operational risk across the firm? Do you have systems that capture information on operational performance, service levels, and data flows and alert you to failures, losses, and errors? Do these systems speak the same language or is it difficult to get a single view? Do your controllers have difficulty identifying points of risk or failure as a result? If you identify areas of concern, do you struggle to uncover the underlying causes? Is this due to limited access to detailed transactional data? Does this result in excess risk or increased operational failures? How often does this happen? What are the financial impacts of this happening? Topic 3: Regulatory compliance How do you currently ensure regulatory compliance? Is compliance managed centrally or as part of different functional areas? Are compliance reports created? How are these produced? Is this a manual process or automated? Is it centralized? How do you respond to unforeseen inquires from regulatory agencies? Do you typically have to gather data and perform analysis manually? Does this result in a delay in response? Does this put the company at risk? What is the financial impact of regulatory fines and penalties? How often does this happen? Event: Question: Player: Action:

Usage Scenarios
When establishing governance Could you improve control and reduce risk and cost if You Could analyze and investigate a consolidated and up-to-date set of internal audit and employee feedback information to identify areas of non-compliance and take proactive action to mitigate?

Event: Question: Player: Action:

When managing operational risk Could you improve visibility and reduce risk if Your controllers Had access to an up-to-date consolidated set of operational event data from checkpoints across the organization, a graphical dashboard to highlight potential areas of concerns, and the immediate ability to investigate and drill down to the individual transaction level to determine root causes?

Event: Question: Player: Action:

When ensuring regulatory compliance Could you improve your ability to respond and reduce fines and penalties if Your compliance officers Could directly perform unrestricted ad-hoc analysis on a consolidated and up-to-date set of information from across the organization, and ask any number of follow-up questions, to uncover information quickly in response to regulatory inquiries?

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

BI / Reporting

Industry: Function:

Insurance BI / Reporting

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other BI and reporting managers in your industry is their frustration with (insert issue(s) from list below). Reporting processes that are too costly and backlogged Lack of usability and sub-par quality of data and reports being produced Weve been able to help our customers improve effectiveness and reduce the costs of their reporting operations, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance BI / Reporting

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Optimize operational reporting

Company: Critical Goals / Issues:

An fortune 500 firm operating in North America and Europe The companys reporting group had a very lengthy and tedious process for reporting. Historical information was housed in various databases and enterprise systems, and there was no automated way combine the data with realtime information from transactional systems. This was further complicated by the need to unify information from multiple business lines to gain a consolidated view. Finally, the group was experiencing report proliferation, as users increasingly requested new views, and the number of individual reports grew to well over 100.

processes Improve usability and quality of data

Capabilities:

The company selected QlikView to reduce their reporting overhead through the following capabilities: Aggregate historical data from enterprise systems with real-time information from transactional and operational systems Unify data from multiple lines of business Provide flexible, easy-to-use, and up-to-date analysis directly to a large community of business users in a self serve model Roll out fast and allow for new analyses to be quickly integrated As a result of deploying self-serve analysis, the company replaced over100 individual reports with a single application serving as the universal point of entry for access to realtime and historical information from disparate systems and business lines. A large community of business users could create the views they needed, eliminating lengthy wait times and resulting in an over 90% reduction in reporting effort for the central team.

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


What efforts are in place today to optimize reporting?

Industry: Function: Goal:

Insurance BI / Reporting
Optimize operational reporting processes

What solutions are you considering?

Diagnostic Questions
Topic 1: Speed and time of response to inquiries Is it difficult to respond to the volume and variety of report requests received? How many days on average does it take to deliver reports to users? How do you prioritize reporting requests? Do senior managers get priority? Do requests spike at end of business reporting cycles or due to unplanned events? How do you handle these peaks? What is the financial impact of delays in providing information? What is the impact on sales, profitability and operating costs? Topic 2: Near real-time information What is the average lag time between information creation and date of use? What percentage of your data collection is manual? How do you reconcile older data in your reporting system with current transactional data? By the time information is published, is it outdated? Does this cause missed market opportunities, lost sales or increased costs? What is the financial impact of these decisions? Topic 3: Number of reports How many reports are you currently providing? How do you evaluate which are being used vs. which could be discontinued? What percentage of reports are just different views of the same data? How many new report requests did you receive in the last 6 months? How many resources are dedicated to the reporting function? Topic 4: Report production costs What percentage of your reports are paper-based? What are the production costs? What is the cost of developing new reports and maintaining existing reports? Do you incur additional costs such as hardware, consulting, postage, or maintenance to support report distribution? Event: Question: Player: Action:

Usage Scenarios
When responding to and prioritizing report requests Could you reduce delays and provide information faster if You Could offer end-users the ability to answer their own questions in a single application based on current and accurate information, and focus your team of experts on only highly specialized and complex information requests? When responding to report requests Could you provide more up-to-date information if You and your team Could access near real-time data directly from source systems as well as information from your existing data warehouse, with a tool that allows a wide variety of questions to be answered in minutes vs. days or weeks? When evaluating report requirements Could you retire more reports and reduce new report requests if You Could provide your users with flexible views into information using charts, tables, and graphs, that highlight key indicators, visually suggest areas for follow-up, and allow this analysis interactively? When distributing reports Would it help you reduce production and distribution costs if You Could provide end-users a system that allows them to access the information views they need electronically, and to ask follow-up questions of the data, without the need for paper reports?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


What are the biggest factors that affect your ability to offer quality information today?

Industry: Function: Goal:

Insurance BI / Reporting
Improve usability and quality of data

What solutions are you considering?

Diagnostic Questions
Topic 1: Data accuracy Are there modifications routinely made to your queries and calculations? Do you have governance in place? Can users make changes on their own? Are calculations consistent for the same metrics across the organization? Do business users make decisions based on inconsistent or inaccurate data? What was the financial cost incurred as a result of sub-optimal decisions made on inaccurate data last month? Last quarter? Last year? Topic 2: Usability & flexibility of information How often do you receive change requests for reports or requests for new views of information? Do users ever manipulate their own data or generate analyses on their own? What is the impact of varying user questions going unanswered? Is there lost market potential or cost saves missed? How much? Topic 3: Multiple data sources How many data sources do you access across the company when responding to information requests? Do you need to access data thats outside a central warehouse? How often do you add new data elements or data sources? Do you expect the number of sources needed to increase? By how much? What is the development cost of adding additional data elements and sources? Topic 4: Access anywhere What options do users have to get current information outside the office? What happens if information is needed and users cant access their computer? Are opportunities ever missed or decisions made without critical information? What was the impact in missed market opportunities, lost sales, or increased costs due to key questions going unanswered due to lack of available information? Event: Question: Player: Action:

Usage Scenarios
When seeking to deliver consistent and accurate data Would you be able to improve data accuracy without compromising flexibility if You and your team Could offer a single tool that allows for a wide range of queries and calculations to be made , while still ensuring data accuracy, consistency, and governance? When responding to increased report requests Would it help you improve information use and effectiveness if Non-technical users Could self-serve answers to a wide variety of questions, with simple mouse clicks through a graphical interface, and immediately ask follow up questions based on what is learned, instead of requesting more reporting views or trying to create their own? When providing data from multiple sources Would it help you reduce cost and complexity if You and your team Could provide users with instant access to a unified view of information, regardless of source, and also be able to add new data elements and sources, without the delay and expense of a traditional data integration project? When needing information on the go Would it help if Your end-users Could perform analysis and access data in the field or at home, using a laptop or mobile device, with the same level of flexibility and usability as when in the office?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

IT

Industry: Function:

Insurance IT

Phone Script This is (insert your name) with QlikTech. You and I (select one: have or have not) spoken before, but weve been working with insurance companies such as Colonial, AON, and Zurich since 1993. One of the primary concerns Ive been hearing from other IT executives in your industry is their frustration with (insert issue(s) from list below). Lack of balance between satisfying business requirements and maintaining a controlled and optimized BI environment Deployments that are lengthy, costly, and put other projects at risk Weve been able to help our customers improve effectiveness and reduce the costs of their IT operations, and Id like to explain to you how we did this by discussing what weve learned from similar situations

Industry: Function:

Insurance IT

Menu of Goals / Success Story


You may be interested in
Menu of Goals Success Story

And / Or
Provide flexible analysis capabilities

Company: Critical Goals / Issues:

A global company with $25B in annual revenue The companys IT group was challenged with limitations in their current Business Intelligence tools. Although they were strong at production reporting and complex modeling, there was a lack of flexibility needed to provide ad-hoc analysis for business leadership and operational management across the organization, to handle key questions and new initiatives. Furthermore, the number of these types of requests was increasing.

within an optimum IT environment Implement & roll out new analysis capabilities on time and within budget

With current tools, any new analysis functionality would typically require lengthy data integration, modeling, and application development efforts, putting other projects on hold and often resulting in functionality that was delivered too late at too high a price.

Capabilities:

The company deployed QlikView to serve as their standard for ad-hoc analysis, providing the following capabilities: Flexible, visual, and simple-to-use analysis for over 6000 users, across most global functions and business lines In-memory analysis on over 500 million rows of data, consisting of over 300 unique dimensions Consolidation of information from Teradata, SQL Server, DB2, and Sybase systems across the company Fast deployment timeframes, tight integration into enterprise standards and security, and the ability to traverse a large, multi-level active directory deployment The company established a best-of-breed portfolio approach for BI, with QlikView as the standard for ad-hoc analysis. The firm reported a 75% reduction in time required to implement new analysis, as well as significant business benefit including improved visibility into performance for operations and key initiatives

Results:

Are any of these objectives worth discussing now?

Would this be one of your objectives?

If yes to any of the above proceed to Solution Development

Solution Development Prompter


How do you typically address your analysis needs in your existing IT environment?

Industry: Function: Goal:

Insurance IT
Provide flexible analysis capabilities within an optimum IT environment

What BI capabilities are important for you to deliver within an optimized IT environment?

Diagnostic Questions
Topic 1: Existing IT standards and investments What existing BI tools are currently used? Is there a defined BI standard? Does that vendor provide all BI needs as well as desired/needed functionality? What shortcomings have you observed? What types of functionality are being requested by business users? How much time is spent in responding to new requests for functionality? Topic 2: Data integration How many data sources do you typically need to access? How many might you bring these together in a typical project? Does the data source impact the difficulty of integrating it? What process do you follow to check data quality? What other factors complicate data integration; (e.g. time spans of data?) Do you spend additional budget on tools (ETL) to do this? How much? Topic 3: Business requirements What does the development life-cycle look like for a project of this scope? Is a high percentage of time spent up front in defining data sources, data models, reports and analytics? Does development always go as planned? What happens when requirements change after sign-off? Has this led to delays in projects, incomplete implementations, or rework? What is the average time and cost of rework and delay? Topic 4: Vendor credibility How many different vendors are you currently using to support your BI initiatives? Have these vendors ever failed to meet your agreed upon expectations? Where and how have they missed? What has happened as a result? How much cost is associated with vendors not delivering on functionality? Event: Question: Player: Action: Event: Question: Player: Action:

Usage Scenarios
When choosing between a portfolio ( best of breed) approach versus single vendor solution Could you complement existing reporting and modeling tools, leveraging their strengths and avoiding their weaknesses If you and your team Could use an in-memory associative approach for ad-hoc analysis, designed to support self-service for your business users? When unifying data from multiple sources Would it be helpful if You could work with a vendor That could integrate and display information from multiple sources without having to fully cleanse and normalize data in a traditional, lengthy data integration project, and could actually expose data anomalies for future cleansing? When developing and delivering new reporting and analysis tools Could you better ensure that business requirements are met and costly errors reduced If you and your team Could develop applications in an ongoing, iterative partnership with your business users, rather than having to define all data models and functionality in the beginning a traditional life cycle? When deciding on a vendor Would your confidence and peace of mind be increased If you could work with a vendor That currently supports over 12,000 customers in 94 countries, including major enterprises, with over a decade of R&D investment in in-memory, associative analysis?

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


How do your currently support an implementation of this scope?

Industry: Function: Goal:

Insurance IT
Implement & roll out new analysis capabilities on time and within budget

What additional capabilities would you need to support an implementation like this?

Diagnostic Questions
Topic 1: Length of deployment How long does it normally take to deploy this type of analytics application? What phase takes the longest? Where are the bottlenecks? Are timelines or deadlines sometimes missed? Is there typically rework based on not getting the initial requirements correct? How much extra cost do you incur due to extra time and rework needed? Topic 2: Resource and consulting costs In previous implementations like this, what was your average team size? How many of those resources were consultants? What was total spend on consultants? Did you have to add headcount? How much did you add? Did the cost of investment exceed your plan/budget? By how much? Do you maintain consultants on an ongoing basis? How many on average? Topic 3: Adoption What challenges to you face in getting users to adopt new applications? Do you struggle to get people to adopt at first? Is this due to applications not being easy/intuitive enough? How do you deal with that? Are there delays in time to value? How much business value do you think you lose due to lack of adoption? Topic 4: End user training Do you require/conduct extensive end-user training for new applications? Do end-users ever require training in complex query structures or expressions? Is training for new applications expensive? How much do you spend on average per application? What percentage of this is developer training? Is end-user training for new application launches outsourced or in-sourced? How many dedicated resources supported training for your last system go-live and what was the cost incurred for the project? Event: Question: Player: Action:

Usage Scenarios
When developing a new application Could you reduce development timelines and minimize rework if Your system Relied on record-level data, offered simple configuration of expressions, and performed all calculations when clicks occur, thus eliminating the need for complex data modeling and preaggregation? When developing a new application Would you be able to reduce costs for initial and ongoing resources if You Could implement without developing complicated data models, pre-defining aggregates, or building cubes? When rolling out new applications Would you be able to reduce costs and speed time to value if You Could provide applications that require only minimal end-user training & support, allowing end-users to conduct sophisticated analysis through simple mouse clicks? After an application is implemented Would you be able to reduce end-user and developer training cost and time if Your users and developers Needed only a simple orientation, and developers only a light, vendor-provided training, after which they could learn by doing, and intuitively perform sophisticated analysis on their own?

Event: Question: Player: Action:

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


(Continued) Page 2
Diagnostic Questions
Topic 5: Ongoing operation and maintenance After implementing, what ongoing spend is required to maintain the system? How many people are required to support the system? Do you require outside consultants for support and maintenance? What vendor costs do you have for maintenance and upgrades? How do you manage change requests? How many additional resources are needed for this?

Industry: Function: Goal:

Insurance IT
Implement & roll out new analysis capabilities on time and within budget

Usage Scenarios
Event: Question: Player: Action: After an application is implemented Could you reduce the costs required for ongoing operation and maintenance if Your developers Could work with a flexible system that inherently handles the many views of data and analytics typically needed in change requests, requiring only routine monitoring and minimal modifications?

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Solution Development Prompter


How do your currently manage IT operations?

Industry: Function: Goal:

Insurance IT
Optimize IT management and control

What additional capabilities would you need to support an implementation like this?

Diagnostic Questions
Topic 1: IT process efficiency What is your current method for managing the efficiency of IT processes? What reports and information do you use to track productivity and efficiency? How long does it take for you to become aware of inefficient or sub-optimal processes and staff? Can you determine what factors may be contributing to low (or high) productivity? What is the increased cost associated with inefficient IT processes? Event: Question: Player: Action:

Usage Scenarios
When managing IT processes Would it help you reduce improve efficiency and reduce costs if Your IT managers Could track efficiency at the employee, process, and department levels through a graphical application, comparing actual efficiency against goals, benchmarking against other operations, and analyzing key indicators to uncover underlying factors that drive efficiency and productivity?

Topic 2: IT project management Do you have a standard process for IT project management? Is there a central project management system or is the process distributed? Can you get an up-to-date assessment of the performance of the IT projects in your portfolio, including current costs vs. budget and delays? Is information gathering manual? Is information delayed or inaccurate? What is the cost associated with IT project overruns or delays?
Topic 3: SLA / service level management How do you currently monitor and manage the service levels provided by IT to its internal customers? Do you have the information you need to ensure that committed service levels are met to satisfaction? Are inadequate service levels sometimes missed? What is the cost? Topic 4: License remediation What is your current process for managing software licenses? Is there a central mechanism to track and manage these assets? Do you incur excess costs from redundant or underutilized software licenses in your organization? What is the dollar impact?

Event: Question: Player: Action:

When managing the IT project portfolio Would you be able to reduce excess costs and project overruns if You Could view an up-to-date dashboard of all IT project performance information from multiple organization areas, and analyze the details to determine which projects to focus on to minimize excess costs?
When managing IT service levels Would you be able to better ensure adequate service if You Could track and analyze transactions with IT, in conjunction with information about the client and promised obligations, and explore customer feedback to determine if IT is performing against targets? When managing IT spend Would you be able to rationalize software licenses and reduce costs if You Had a centralized and up-to-date view of all software licenses and owners across departments, and could analyze this information in conjunction with project and survey data to ensure that outstanding licenses were needed?

Event: Question: Player: Action:

Event: Question: Player: Action:

Recap: So your current situation is

Confirm solution: If you had (capabilities) could you then (achieve goal)?

Thank You!