Sales, Distribution & Technology

Benefits, Must-Haves and Lesson Learned of a Successful CRM SystemSuccessful CRM System

View points provided from a Distributor, p pCarrier and Solution Provider’s perspective

Sales, Distribution & Technology

CRM A Distributor’s Perspective

Kensington Schmidt

SIA Companies - founded 1979

• Started selling “Nursing Home Policies,” a product no one had ever heard ofp

• But….business escalated quickly to 3 states• In 1983 purchased first computer• In 1983, purchased first computer• At first, basically just a file cabinet for clients

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Logical progression to build our own

• We were designing, printing, and mailing leads for our agents

• Even with an amazing 12% return at the time, costs were exorbitant & increasing

• We needed to track agent info – and success ratio – to get to a solid bottom linesuccess a o o ge o a so d bo o e

• Necessity was truly the Mother of Invention for us because no one had CRM for LTCfor us, because no one had CRM for LTC

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Expected benefits of building CRM?

• SIA’s home office has always been in ND• We didn’t have the benefit of locationWe didn t have the benefit of location• SIA needed to deliver more just to

compete on a Distributor levelcompete on a Distributor level– Speed, accuracy, efficiency, reporting became

our hallmarkour hallmark

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Obstacles to building our own CRM?• Computers ran in DOS – not user friendly• Consultants were continually needed for the

most basic of functions• Insurance companies focused any IT su a ce co pa es ocused a y

resources solely on Life Industry• SIA added states so quickly we couldn’t wait• SIA added states so quickly we couldn t wait• For years, we retained services from 3

different consulting firms to meet our needsdifferent consulting firms to meet our needs

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Obstacles to building our own CRM?

• But Consultants have other clients• And let’s face it,

entrepreneurs are not patient people• Strategic decision to hire our own programmers• In 2010, SIA Technologies became

the newest of The SIA Companies

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Programmers + Agents

• Company policy has always required that every employee be a licensed agenty p y g

• But not Programmers, right?• Who does that?• Who does that?• We do. • Our Programmers obtain & maintain licenses• Result: SIA can truly say y y

“Our Technology is built by Agents, for Agents”

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g

Advice for User Adoption?

• Build a culture of change• Empower & incentivize employees toEmpower & incentivize employees to

seek & demand tech-based solutions to mundane repetitive tasksmundane, repetitive tasks

• Believe that “everything matters” & come to work every day seeking newer betterwork every day seeking newer, better answers

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Examples of CRM benefiting SIA?

• Streamlined communications• Tracking/reporting every activity

– Agent touches, App & Status touches– Date stamps on actions by SIA/Agents/Carriers– Tracking Quote Requests & turning them into

Birthday Leads• Higher Issue Rates + Lower Costs• Higher Issue Rates + Lower Costs• Greater contributions to Carrier Relationships• High level HIPAA compliance• High level HIPAA compliance

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Key Take-Aways from SIA1. Make a significant, continual investment in

technology at the highest level of your organization

a) Be vigilant, don’t start process & walk awayb) Whatever you think it will cost, double itc) Don’t see it as an expense, but an investment

that must deliver solid, tangible return

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Key Take-Aways from SIA

2. Do your research before buying/building.a) Ask questions, check references & experiencea) s ques o s, c ec e e e ces & e pe e ceb) Beware piecemeal approaches that can’t/won’t

integrate across the sales cycleg yc) Plan/build software that can meet your needs for

today & tomorrow

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Key Take-Aways from SIA3. Build a Culture of Change to support IT efforts

a) Fresh, new ideas/demands = continued successb) Incentivize & reward your employees for IT ideasc) Henry Ford’s vision of empowering every worker

th bl li till li t don the assembly line still applies today…it’s the heart of fresh, new technology &the core of tomorrow’s Long Term Care industrythe core of tomorrow s Long Term Care industry

Benefits, Must Haves & Lessons Learned for Successful CRM Systems 13

Sales, Distribution & Technology

A Carriers Perspective

Heather AdkinsHeather AdkinsAVP, Digital Marketing & eSolutions

Transamerica BrokerageTransamerica Brokerage

Benefits, Must Haves & Lessons Learned for Successful CRM Systems 15

Benefits

Happier Sales Team • Prioritize work• Better understand customers• Connect with internal experts p

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Benefits

Alignment of Efforts• Focus on the customers who matter most

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Benefits

Management Visibility

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Benefits

Improved Engagement• Connect Sales & MarketingConnect Sales & Marketing

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Benefits

Quantify Our Efforts • Allocating resources to the right customersg g

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ChallengesChallenges

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Challenges

Resources

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Challenges

Subject Matter Experts

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Challenges

Data Data

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Selecting a SolutionSelecting a Solution

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Selecting a Solution

Not Just a Tool, Not Just a Tool, But a BusinessBut a BusinessBut a Business But a Business Partner Partner

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Selecting a Solution

Business Requirements

“As many as 85% of companies that buy CRM software to

automate sales effortsautomate sales efforts don’t pick the right tools

because they fail to define business bj ti d l fobjectives or develop processes for

meeting objectives.”- Gartner Analyst Robert DeSisto

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Selecting a Solution

Go Agile

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Selecting a Solution

Consider Other Tools You Want to Integrate

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Selecting a Solution

Rollout in Phases Rollout in Phases

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User AdoptionOh, They Actually Have To Use It?

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User Adoption

Starts atStarts at the Topthe Top

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User Adoption

Understand What Your Sales Team Understand What Your Sales Team NeedsNeeds––and What They Don’tand What They Don’t

Benefits, Must Haves & Lessons Learned for Successful CRM Systems 33

User Adoption

Make It Fun

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User Adoption

Find Your “Cool Kids”

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User Adoption

CommunicationWhat’s going on?

CommunicationWhat’s going on?What s going on?What s going on?

VS

Training How do I ?Training

How do I ?How do I…?How do I…?

VS

Education Oh that’s useful!

Education Oh that’s useful!

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Oh, that s useful!Oh, that s useful!

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Lessons Learned

User = OwnerUser = Owner

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Lessons Learned

Only Measure What You Want to Improve

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Lessons Learned

Commitment

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Thank You

Benefits, Must Haves & Lessons Learned for Successful CRM Systems 41

Sales, Distribution & Technology

A Solution Provider’s PerspectiveA Solution Provider s Perspective

Laura D’AnnaiPipeline

CRM that speaks insurance

• iPipeline CRM Product philosophy– CRM for DistributorsC o s bu o s– CRM for Carriers

• Build products on CRM platformsFocus on insurance– Focus on insurance

– Leverage app marketplacesiPi li b fit– iPipeline benefits

– Our customers benefit

Benefits, Must Haves & Lessons Learned for Successful CRM Systems 43

The Best Strategy

• HAVE ONE!

• Choose an engaged owner & adminChoose an engaged owner & admin

E t bli h l & i bj ti• Establish clear & concise objectives

• Acknowledge it’s not one ‘n done

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Adoption Motivators

• Build around current/favorite tools today

• One great dashboard that talks user

• Provide one easy win

• Address a major pain point

• Gamify

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Gamify

Extend and Expand

• Collaboration Tools

• Marketing Automation

• Lead management

• Proposal generation

• Social Media Integration

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Social Media Integration

Beware of Landmines

• Generic CRM with no insurance smarts

• Lack of strategy, known objectives

• Inappropriate training

• Value prop limited to select usersp p

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Customer Success Story

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Don’t forget

• Own it!

• Iterate and adjust, again and again

• Listen and respond

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