2. The First Step in “Solving” is “Knowing” what the issues Are!!! Then Finding way to Improve Long-Term Profitability Advanced Analytics Tracking and Targeting Operational Tracking and Scoring YOU ARE HERE
5. Technical Capabilities Programming SAS Mainframe and PC SAS for 12 years hands-on, JCL, JES2, Sync sort Excel complex from Pivot tables to the Solver MS Access, Word, PowerPoint SQL Server, Oracle, Sybase 12 years Database design, normalization, stored procedures, DTS, analysis services Indexes, and optimization
22. How can we get there? Building a Strategy of Attack
23. Building a Strategy of Attack Phase I: Development of Baseline Determine low hanging fruit: Easy low cost changes that will have big impact to the business Phase II: Integration of Baseline, Outside Data and New Collection Methods Phase III: Building tools to influence market expansion, automation, product design and pricing changes Phase IV: Measure results of company efforts through reporting, dashboards and developed algorithms
24. Phase I: Development of Baseline Evaluating the Business Development and Potential
25. Phase I: Development of Baseline Current Reporting Capability, Models, Data and SWOT Operational Analytics Reviews Underwriting, Accounting (Statutory and GAAP), Pricing, Reserving (Case and IBNR) Development of automation and key profitability driver models Evaluation of demographics and geo-demographic factors that impact retention, messaging and best customers (High Value/Low carrying cost) Marketing Analytic Reviews Competitor Pricing, Product Designs, Placement, and Promotion Key Purchase Drivers of customers (price, deductible, ect) Broker Network - What do we know? / What do we believe? Product Expansion and Market Expansion Opportunities Expansion through acquisition or evaluation
30. Market Assessment and Potential US Market XXX Million Potential Buyers of Auto Insurance and Businesses buying PNC Current States Low Potential Medium Potential High Potential
31. Market Penetration – Where We Have Won! 18 Different Penetration For Different Markets
32. Phase II: Integration of Baseline and Outside Data Building Reports and Business Intelligence
35. Reporting and Tracking Building Reporting and Outside Forces (Dunn and Bradstreet, Equifax, Experian 4 digit Zip Code data, Retention History, Claims Patterns Lifetime Value Persistency High Value Customers - Products
36. Phase III: Building tools to influence market expansion, product design and pricing changes Examples
37. Underwriting Automation Establish baseline of underwriting standards If exists, take underwriting answers and compare to claims and persistency Use of standardizations, skip patterns and question piping to populate underwriting database and decision engine
38. Sphere Of Influence Customer Independent Broker Build Profiles Build Profiles Penetration Potential Fair Share Claims experience Net Promoter Attitude / Awareness / Net Promoter Receptivity Carrier Reputation Retention Renewal Tactics Demographics Socioeconomic Perception High Value Customer Evaluation CRM and Quote Profiling Tools Online and Offline
39. CRM Agent Recruitment Tracking Quoting tool tracking using Coremetrics, XML and SQL Server for both Online and Offline Tools Manage Agents by Sales Stage(ARMS) Future: Enhance Agent Profiling(ARMS) Qualifying Does lead meet standards Certified (Trained) Current on product Committed Specific volume commitment to contract production Engaged Merits our active support and enrollment into our programs Reach How big of a geographic circle does this agent reach? Customers General, Auto Targets, PNC Targets Partnership Differing depths measures of ‘engaged’; beyond ‘charter’ designation Other ARMS is a tool for lots of coordination opportunities. Links to D2C and Wholesalers 26 B2B Recruitment Note: Initial ARMS “Status” designation has been established. This will “roll-up” in both Field Sales reporting and on the Operational “Dashboard”.
40. Phase IV: Measure results of company efforts through reporting, dashboards and developed algorithms
41. Results and Action Plan Follow-up Campaign Segmentation New Sales Development Campaign Follow-up Customer Retention Development
