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Vlocity Insurance Solutions

How leading insurers create digital experiences built entirely on the Salesforce platform.

Transform your business

The insurance industry is in a state of major transformation as long term consumer & business trends converge. Because of this transformation, and resulting shifts in customer expectations, there is currently an unprecedented opportunity for insurance carriers & MGAs to capitalize on growth opportunities through increased pricing flexibility, greater speed to market, and more responsive policyholder service. Silverline can help enable this transformation for your firm by leveraging industry-leading Vlocity solutions on the Salesforce platform. 

Why Vlocity? Helping insurers meet consumer expectations

Customer needs and expectations are shifting.  Across both the consumer and business markets, customer expectations are increasingly being anchored by decidedly digital-first firms such as Amazon and Google. Customers even expect full transparency in their pizza ordering experience. Because of dependencies on existing legacy systems, many carriers & MGAs are struggling to deliver even basic digital experiences to their customers. This is where Vlocity can make a difference.

In contrast to many legacy insurance platforms, Vlocity is designed to deliver digital experiences focused on your customer. Vlocity is built natively on the Salesforce platform which enables seamless integration with market-leading CRM, marketing automation, and customer engagement capabilities.

 

Fully Digital Quote-to-Bind

Customers quickly become frustrated with cumbersome and inefficient quote-to-bind experiences, which can cause them to  abandon the process in your direct channel. Similarly, non-captive agents factor the quote-to-bind experience when determining where to write business. Customers and agents alike expect self-service options on the device of their choice.  

With Vlocity, you can deliver this experience by moving the entire quote-to-bind experience to the cloud on the flexible Salesforce platform. Vlocity enables straight-through processing with omnichannel availability. And because it is built on Salesforce, you can leverage all the capabilities of the platform to deliver AI-powered add-ons, give agents insights on white-space, and drop abandoned quote requests into a nurture campaign. 

Salesforce and Vlocity capabilities allow you to combine prior sales and policy performance to maximize renewal cadence and pricing. Additionally, you can enable your product administrators to manage coverages, define underwriting criteria, and implement robust rating algorithms so you can quickly innovate with new product offerings. 

Digital Claims Experience

Customer expectations have shifted towards lightning-fast mobile experiences and fully transparent claims processing. Vlocity enables you to deliver on these expectations with an end-to-end claims management system built entirely on Salesforce. Provide your policyholder with a dynamic first notice of loss (FNOL) experience leveraging Vlocity’s OmniScript technology in a mobile, desktop, or call center environment. 

Digital Policy Administration for P&C

Many insurers leverage Vlocity’s native integration tools to facilitate connections to their existing Policy Administration System however, Vlocity’s solution includes robust Policy Administration functionality once the policy is issued. Vlocity supports a range of policy transactions, including automated renewals & out of sequence endorsements. Vlocity also tracks earned premium from policy issue to termination and provides a coverage verification service.

Get the whitepaper: Challenging expectations and transforming experiences with Salesforce and Vlocity

We see several major trends converging in the insurance industry today: 

  • An increase in Direct to Consumer Distribution 
  • Use of AI and Automation in Insurance Operations
  • Leveraging Data and Connected Devices to Reduce Claims Risk
  • Shifts in Customer Expectations at all Points in Policy Lifecycle

While the industry continues to experiment with responses to these trends, there are several compelling reasons to take the first (or next) step in your digital transformation with Vlocity and Silverline. Find out how successful firms capitalize on the opportunities created by these trends to maximize their ROI and improve their Salesforce org.

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Vlocity in the Contact Center

Although customers are increasingly moving to digital channels, traditional contact center support will continue to remain an important service channel. At many contact centers, the ability to serve customers is negatively impacted by agent’s need to access multiple legacy applications — frequently with a need to re-key and search for information separately in each. 

By implementing Vlocity in your contact center, you can reduce call handle times and training time by providing call center agents with a single engagement layer using Vlocity’s Card Framework, Quick Actions and Omniscript. Omniscripts representing guided processes can be downloaded and customized from the Vlocity Process Library for common service requests such as updating a beneficiary, requesting an ID card, and dozens of others. Guided Processes eliminate the need for a separate Standard Operating Procedures (SOP) binder as the SOP is encoded into the Omniscript. These processes can be deployed to portals and mobile apps in addition to the call center. By simplifying integration with external systems through microservices these transactions can take place with just a few clicks and without leaving the Salesforce platform. 

Ready to discuss Vlocity insurance solutions for your firm?

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