Monday 25 May 2015

When Brand, Technology and Customer Behaviour Converge

By Bill Morris
Partner
Navicom Inc.
 
Charles Brindamour, CEO of Intact Financial Corp. recently said in the Globe and Mail  “[Companies] who have strong brands, who have a very good understanding of consumer behavior, who have agile technology, [will] come in and start disrupting how the business is distributed”. He makes a valid point and for those that are not prepared for the inevitable convergence of these three critical factors, the future may be bleak indeed!
 
 
Fortunately for users of Keal’s solutions, the future is bright and already here! Two factors -“agile technology” and now the new integrated Engage “customer metrics” solution are critical to getting the third factor – a strong brand – exactly right. In partnership with Navicom Inc, a leader in the development and implementation of automated, integrated customer measurement systems, Keal users can literally “flip a switch” to start the flow of continuous customer feedback.
Knowing how customers “feel” about the products, services and overall relationship they have with the various organizations that they choose to do business with has become “table stakes” in the never ending battle for building a loyal customer base. While the insurance industry generally, and brokers specifically, have been slow to embrace this critical business trend, Keal now offers the most advanced solution available when it comes to understanding customer perceptions and how these perceptions impact loyalty behaviour. Brokers that subscribe to the new Engage customer metric system are able to piggyback on the seamless interface between Navicom and Keal to automatically gather customer perceptual data at key points of interaction (new customer, post renewal, post claim). Navicom manages the customer data flow on behalf of the broker and provides regular Customer Engagement and Performance Reports via a P & C administration site created for each unique brokerage.
Keal brokers now have ongoing access to critical customer perceptional data and can monitor overall levels of engagement, loyalty and future buying intentions. Furthermore, individual customer engagement intelligence will soon be repatriated to the Keal database which allows broker personnel to monitor individual customer engagement in real time and take action as appropriate. In short, brokers no longer have to “find out the hard way” that they have lost another customer due to specific unresolved issues or worse, a slowly deteriorating business relationship that leads to the inevitable policy cancellation.
Keal brokers now have ongoing access to critical customer perceptional data and can monitor overall levels of engagement, loyalty and future buying intentions. In a new future release, this solution will also bring back customer engagement scoring directly into the Broker’s client file. This allows brokers to monitor individual customer engagement in real time and take action as appropriate. Highly engaged customers can be approached for referrals and testimonials, and action plans can be created to “warm up” less engaged
customers before they turn into lost accounts.
Originally published in the Keal Systems Users Full Circle Newsletter - Spring 2015.

Friday 17 April 2015

The Silver Lining IS the Cloud, with the Right Provider!

By Sheldon Williams
Sales & Account Executive and Trainer
Keal Technology
 
The ever changing world of data technology has blast into the atmosphere and in house servers will soon become exhibits in museums. Water is definitely the new fire and your data is in peril of becoming a victim of flooding. Paperless initiatives such as scanning, eDocs and eMarketing have increased the size of your databases leaving in-house servers struggling to keep up. Commissions being cut by major carriers, government reduction of premiums and the ever-present threat from direct writers add new challenges to the day-to-day operations of many brokers. With all this added pressure, do you have time to monitor back-ups, test those backup,  plan & purchase new servers (every 3-5 years), or maintain contracts with local techs? I can bet that the answer is ‘NO’. So, how can we avoid these requirements of your operation? Leave it to the experts, and the Cloud provides that convenience.
 
So, what is the cloud you ask? Cloud computing has been around for quite some time. To simplify the explanation, one can look at Social Media. For instance, when you log into Facebook, you are accessing a Cloud environment.  All of your contacts, photos, videos and status updates are stored in a ‘virtual world’. With the use of any device that can that access the internet, you can log on and gain access to all that you and your friends have uploaded and stored. This same concept applies to your professional data. Hosting your data in a Cloud allows you to access your files, software and data wherever you have internet access.
Safe & Sound
Now that we have the basics down, let’s look deeper into the benefits of Cloud hosting. With the right provider, back-ups are done throughout the day which copies your data and keeps it safe from peril. This data is then stored in multiple servers in different locations for redundancy. This safety measure increases your security and creates a disaster recovery plan for you. So, let’s imagine a flash flood or even a bolt of lightning. With in-house servers, you would rely on the data based on the last back-up. Typically this can be from the day before, or even longer. Recreating the lost data can become a make-work project and let’s face it; no one has time for that! If your office is rendered unlivable, your business will be at a standstill until everything is back on track. Time is money, and loss productivity can hurt your bottom line. With a hosted solution, your business can continue, and all you will need is a computer with internet access and a phone. Everything you need to operate is safe & sound, ready for you to log on and get back to work.
Additional Features
Emails are crucial to communication in this day in age. With the right Cloud provider, you not only have the ability to host your industry specific software; such as your broker management system; you can also store your entire Microsoft Office suite, in fact, the Keal Cloud comes with this as standard. This means your email, Word documents and Excel spreadsheets are also included in the safety of virtual hosting. Everything is secured in your online environment and accessible anywhere. This relinquishes your responsibility to maintain Microsoft licenses, monitor audits and conduct upgrades, giving you one less headache to worry about.  How about your other necessary software? Yes, they are covered as well. This means your rating software, 3rd party products and network drives are all just a ‘www.’ away.
Sounds Too Good to be True?
With the right provider uptime guarantees are put in place to ensure that if something goes wrong with your ability access to the Cloud, you will be compensated. You no longer have to call the tech down the road to take a look at your server, hire an IT expert full time or try to fix it yourself. With Cloud hosting, you call your main support phone number and you can talk about your hosting as well as your broker management system.
Not every Cloud is created Equal
What is the Right Provider? Who do I choose? What am I looking for? There are key differentiators between cloud providers. The goal is to be able to ask the right questions in order to determine which one provides the level of security & service that you require. Here are a few questions to ask:
1.       Where is the data stored?
a.       As a Canadian Broker, you want to know that your data is stored in Canada. Each country has different privacy laws. Supporting a Canadian datacenter ensures that your data adheres to the laws of the land.
 
2.       What is my Uptime Guarantee?
a.       This defines the percentage of time that the Cloud will be up and running. Call around and compare, you will be surprised with the difference. (hint this higher the number the better; unlike your golf score).
 
3.       What is the cost for hosting 3rd party software?
a.       Basic Cloud contracts allow for hosting of your typical software, anything over and above that may incur additional costs. Ensure to list all your business requirements and obtain a cost for having them all hosted.
 
4.       What level of security is offered?
a.       Tier 3 is the minimum that we would recommend, this is the highest level typically for commercial enterprises.  The only higher rating at present is Teir 4, which is usually deployed by Banks & Governments.  It is important to note that all Tier 3’s are the same. Look into whether the Cloud provider is a certified Tier 3. Have them provide proof and do your research into the validity of the certification company.
 
5.       What can the hosting company do with my data?
a.       Carefully review the contract prior to signing. Ensure that your data belongs only to you and no one else.  ‘Big Data’ is big business, your contract should not allow your cloud provider to mine your data for statistical purposes unless you agree with this usage. 
 
6.       What is the level of redundancy protection?
a.       Find out how many data centers are in place to protect your data if one goes down. Determine how often back-ups are done in a 24 hour time period and what measures are put in place to protect you.
Choosing the RIGHT Cloud provider is as important as the right security system for your house. Both protect what is dear to you and the contents being protected are irreplaceable. For more information on Keals Cloud solutions feel free to view our short video here  http://bit.ly/1Eb7TJJ  or contact sales@keal.com.
We can provide testimonials, referrals and demonstrations of your new environment. It’s time to stop thinking in the clouds and start working it.

Tuesday 10 March 2015

Let’s Talk About Tech, Baby: Enhancing lives every day

By Sheldon Williams
Sales & Account Executive and Trainer
Keal Technology
Originally Published on Insurance-Canada.ca Feb 6, 2015
Reminiscent of the industrial revolution, technology has revolutionized the way that we live. Technology has the ability to enhance our lives and simplify daily tasks by designing devices to reduce our workload. From washing machines to smart phones, technological advances have transitioned us into a state of automation.
The insurance industry is no different than other sectors. From uploads/downloads, EDI and eDocs to eSignatures and audio signatures, technology has greatly impacted our business practices. It has provided a means to service our customers better and more efficiently. Online portals for customers allow instant access to their policies. Mobile apps make it convenient to file a claim, and automated email surveys gain insight into your customers’ experiences. Technology is an ever-evolving entity that molds our existence.

So, how do we capitalize on technology?
The answer is to adapt to our new environment. Insurance carriers are taking advantage of technology by reducing paper and they are using eDocs to accomplish this. Consumers are taking advantage of online presence to eliminate filing wordings associated to policies and accessing them online. In turn, brokers have the ability to take advantage of a number of automated processes.
John F. Kennedy once said, “Ask not what your country can do for you. Ask what you can do for your country.” With technology, this is turned around: “Ask not what you can do with your technology, but ask what your technology can do for you.”
For instance, take paperless initiatives: do you have an automated process in place to delegate tasks based on downloads? Are you manually reconciling accounts as opposed to allowing technology to do the heavy lifting for you?
Here’s your challenge
I challenge you to look at the tasks that are most labor intensive and determine whether technology can help reduce your workload. Efficiency is defined as ‘achieving maximum productivity with minimum wasted efforts or expense’. In other words, take advantage of the use of technology to reduce workloads.
The evolution of how we do business has been strongly based on workflows that are driven by automation created by technology. We owe it to ourselves to audit our business practices and find those tasks that can be accomplished by using the technology that is available to you.
Where to get information

During the 2015 Insurance-Canada.ca Technology Conference (#ICTC2015), you will hear about great innovations tailored to your business. Review all options available and find the best solutions for your business. Challenge the status quo and capitalize on the options available to you.
A proper mix of technology and business acumen will result in an efficient and profitable business. Open the dialogue with your technology solution provider and foster the relationship for the betterment of your operation.
At Keal, we believe that the best solutions come from our clients and we are always ready to talk about tech. We’ll be at #ICTC2015. See you there!