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Welcome.
Thank you for
joining us the night
after the big conference.
Or the morning after the
night of the big concert.
So thank you
for being here.
My name is Jerome Simmons.
I am product
marketing director
for the insurance industry
here at Salesforce.
And we want to welcome
you to our session
today, Optimizing Your
Agency or Brokerage
for Growth with
Salesforce.
So as insurance folks, we
love a good disclaimer.
So Salesforce is a
publicly traded company.
Please base your
purchasing decisions
on generally
available technology.
Now, with that out of
the way, a quick word
of thanks for you
joining us today
and for you joining
us on Salesforce Plus.
As the great philosopher,
Jay-Z once said,
you could be anywhere
in the world today,
but you're here with us,
and we appreciate it.
So thank you.
Now we have a packed
agenda, so let's go ahead
and get started.
Now, we are extremely
excited that our Einstein
AI capabilities have
now been upgraded
with Agentforce
automated agents as well
as the Atlas
reasoning engine.
Now, just imagine, with
the proper guardrails
in place, Agentforce
agents being able to mine
your first and third party
data, policy activity,
meeting notes, being
able to identify and help
you convert client
renewal opportunities
and potential upsell
opportunities.
Now this session
will really
touch on the
foundational step
to get started
with that process.
Now, Salesforce has been
serving the insurance
industry now for
about 25 years
with insurance
specific capabilities
for about the last 10.
Now, in our conversations
with brokerages,
we hear about the
technology challenges,
the siloed systems,
disparate data,
and how some of
these challenges--
can everyone hear?
Yep?
OK, all right.
So the technology
challenges
that can be exasperated
with MMA activity that
has increased over
the last few years.
Now, over the last
about three years,
Salesforce has really
invested an increased
focus in on our
brokerage capabilities
with the vision to provide
a single, unified platform
across all lines
of businesses
to really help agencies
and brokerages power
digital transformation, to
personalize experiences,
and streamline operations.
So what I'm excited
about today is today,
we have some trailblazers
that are already
removing the line
between AMS and CRM
and really connecting
account management
and sales on the
Salesforce platform.
So I want to bring
now up someone
who is trailblazing
our efforts
in this particular
area, Michelle Lewis.
Thank you, Jerome.
Oh my goodness.
Thanks.
So how many of you were
at the Financial Services
keynote yesterday?
How many of you
shouted when
the insurance brokerage
announcement was made?
Can we hear a woo woo?
Awesome, awesome.
I just now got
chills again
because I am so excited.
I've been at Salesforce
for three years now,
and I've been
laser focused
on building and
bringing solutions
with our wonderful
product team for insurance
brokerages specifically.
I mean, we all
love our carriers,
but I love my
brokers more.
I've been working in this
space for over 25 years.
I am so grateful and
thankful that we've
got this wonderful
panel, some of whom
I've been working
with for 25 years
as well, on stage to go
through their journey,
talk a little bit about
what their challenges have
been and what their
implementations have
been looking like.
We've got, starting Julie
Whitley, EVP, benefit
operations for Alliant.
Sankha Ghosh, EVP and
CIO of AssuredPartners.
And Mahi Nekkalapudi,
VP, CRM, NFP.
And you all may
know, slash Aon.
Welcome.
We're going to
start with Julie.
And she's going to go
through Alliant and what
they've been up against.
Thanks, Michelle.
So work for Alliant
have been in this role
for about 16
years, building
out our infrastructure
systems, processes, et
cetera, as we've grown.
We're structured in four
different verticals.
We have our P&C
retail practice
that's highly focused
in specialty verticals,
like construction,
healthcare, public entity.
Then we have our
employee benefits
vertical that I'm
part of, and we've
been very focused and
innovating in our space
and delivering leading
programs to our clients.
We also have recently
introduced a consumer
group that is focused
on individual services
for direct to consumer.
So including individual
health care, Medicare,
and individual
P&C products.
And last but not
least, we have
our wholesale
programs area.
Currently, we're pushing
towards $5 billion
in revenue,
13,000 employees.
And we really focus on
having a flat management
structure.
And that means
that all of us
are really involved in the
weeds working at things.
And we really
love focusing
on our differentiated
employee ownership.
We're about half
employee owned,
and that's really
important to us
and we really feel like
we're all invested.
We're owners
in the company.
And Alliant just
hit the top five.
Yes.
In the--
We just hit top five.
Top 100 brokers.
We were pretty impressed
to see that, actually.
So just a little
bit about where
we were sitting before we
implemented broker force.
So we had our data really
in three major buckets.
First of all, we
had our client data
in BenefitPoint.
So we would have our
plans, our renewal
processing, our
commissions,
all in BenefitPoint.
The downside of that
was the data, really.
And we all know this
comes down to data.
And we had a
lack of control
over the quality of our
data, the consistency
of our data.
And if we wanted the data
to look a certain way,
we didn't have the
ability to do that.
So that was the
downside of that area.
About four years
ago, we had
built our own service
focused CRM side
in Salesforce in the
regular services cloud.
And it was the right idea
but the wrong execution,
basically.
It was not designed
with an interface
that our employees
could use.
And it didn't look the
way we want it to look.
So it wasn't delivering
on the intended focus.
And then there's the
other applications,
where Excel,
SharePoint, OneNote,
we know that we have so
much of our client data
in there.
And so our goal is to get
it all in one platform.
Yay.
So.
Thank you, Julie.
And now next is
Sankha to give us
a little assured
partners by the numbers.
Thank you, Michelle.
Good morning, everybody.
I'm Sankha.
I'm not going to go
through the numbers
on this page.
But the key thing is, like
many brokers in this room,
we are a brokerage.
We do EB, PNC, and
obviously service
and all of that.
We are highly acquisitive.
We completed our 505th
acquisition last week
in 13 years.
I call ourselves
serial acquirers.
And so there are really
unique challenges
when you think about
what we do, right?
So Jerome, I think, talked
about siloed data systems
and all of that.
We have all of it.
So trying to really
unify all of that
and create a more
standardized process.
Building out enterprise
grade systems that's
highly scalable as we are
moving towards a more,
I would say,
centralized structure
from a highly
federated structure
that we are in, focusing
on organic growth.
We decided
Salesforce is going
to play a key role in
that journey, right?
And some of the
organic growth numbers
on this page is directly
tied to some of the work
that we have done
with Salesforce.
And we have only
begun the journey.
We are seeing some
of the results.
We continuously tweak it.
And so if you go to the
next page, Michelle.
Our vision.
So the
transformational vision
that we have within
the partners is--
like you.
Create those
standardized processes
and build an ecosystem of
enterprise grade systems,
right?
And have one
platform for data
so that it's easy
to extract data.
It's easy to use that
data for analytics,
whether it's customer
facing analytics,
internal dashboards,
reporting, whatever
the case might be.
Have standardized
workflows
across the
different groups.
So that's really
the intent.
And we are really taking
small steps in the sense
like we use
agile approach,
we are trying to
define our MVPs.
It's a big change
management exercise
for our company.
I'm sure it's for
some of you, too.
Change is hard.
And we have users who
have used this systems
for 20 years, 25 years.
It's hard for them to
really start changing.
So a lot of
storytelling, a lot
of discussing why
we are doing it,
what is in it for them.
How will they benefit
from all of this?
Right, so that
storytelling
is really,
really important.
And really showing
improvements in chunks
is what we are
trying to do.
Right so that's really
the goal here for us.
Great.
Mahi?
So we're going to go
through a little bit
of NFP now and then
talk about not just NFP,
but also what you've
been working on.
And Mahi's got a very
interesting story,
because she's been
working on this platform,
but on Sales Cloud for
the last 10 years, right?
Thank you, Michelle.
Good morning, everybody.
My name is Mahi.
I've been with NFP
for about 10 years.
And I think very similar
story to my colleagues
here.
We're insurance
brokerage company.
We do acquisitions.
And we've been acquiring
firms the last decade
or longer, where 8,000
employees across global,
focused on US, Canada,
and UK and Ireland.
And we're growing, right?
We're growing.
And we've been recently
acquired by Aon,
so we're now officially
NFP, an Aon company,
which we're very
super excited about.
Hence my shoes,
which our CEO were
to one of our launches.
And we're super excited to
be partnering with them.
So as Michelle said, our
journey with Salesforce
the last 10 years
has been tremendous.
So you'll see in
the next slide
that we've started with
what we call NFP 360,
or as we call internally,
our Wild, Wild West
instance.
Because it was
literally that.
We onboarded
a few offices.
Any field, any
process they wanted,
we said, yes, go for it.
And we had too
many fields,
and it didn't
accomplish what
the intent of the
Salesforce instance
was, which was for
leadership to do revenue
reporting, whether
it was pipeline
or to understand
our policy revenue.
So in 2014-- sorry, yeah.
In 2014, we decided to
launch Salesforce again
with the 2.0
version, which we've
standardized everything.
And we put in NFP's
processes, NFP's KPI
fields.
And we said, this is what
you guys are following.
Obviously with
minimal changes
as needed and as approved
by our key stakeholders.
So we were excited when we
went live in 2014, right?
We went live with
benefits, retirement,
our EB book, as well
as our individual.
So we did a lot with
our sales and policy
management initially.
And we got the reports
that the leadership
was looking for, and that
was only the beginning.
So when we went live,
our requirements changed.
The intent of
Salesforce changed.
Which it does for all
of the organizations.
And as everybody
started to use,
we realized,
oh, why can't we
do commissions
in Salesforce?
Why aren't we
able to do this?
So back then, FSC
was not a thing.
So we did what every
other organization
does, which is we
hire contractors
and consultants and
customized the heck out
of Salesforce, right?
And we did a lot in
the last 10 years.
So we built out our
own commissions module,
we built out career
statement processings.
We've onboarded
our P&C sales.
We've integrated with
Epic from an AMS platform
because P&C lives
in the Epic world.
We've rolled out a
lot of functionalities
across all
these platforms,
business lines as needed.
We went live with
billing and invoicing.
And the most
recent one we did
was precursive,
which was to help
with task management
for our offices
and to keep up
with renewals.
So we did a lot,
but it still
felt like it
wasn't enough.
So with our EB book,
and you'll see there,
if you go to the
next slide, Michelle,
you'll see we customize.
We've rolled out
all these features.
But by the end of it,
some of our offices
and business lines weren't
utilizing it completely,
right?
So our EB book
is primarily
focused on sales.
And they do a great
job with our managing
our sales, our
sales pipeline.
Using our sales tax
that we've rolled out
to our producers, which
encompasses of Salesloft,
LinkedIn, and
ZoomInfo to make sure
our sales are successful.
Right.
And then they
create policies.
And they manage policies
to a certain level.
But then they
work externally
for commissions,
they use QuickBooks.
So they're not
100% in our system.
And this is where
we're hoping
the FSC will change
and will bring
some of these offices
more to be on Salesforce
and all in one
platform, opposed
to having to leave
Salesforce to do these,
some of these.
The ultimate goal for
us is still the same.
I think it's been
the same since 2014,
which is we want to have
exact leadership reports.
Leaders going in and
seeing exactly the revenue
that they're getting
from our pipeline as well
as revenue that
we're getting
from policy management.
Right, we want
to showcase that.
And we can only
do that when
all of our business lines
and offices and firms
are on the platform.
Right, and so we're hoping
with FSC, with next year
and the coming
years, that that's
what we're going
to do and that's
what we're going
to accomplish,
is having everybody in one
platform from a reporting
and ease of usability.
So I love the fact
that you pretty much
erased that line between
the CRM and the AMS
10 years ago.
Yeah.
And now there's a
lot more that you're
going to be able to
take advantage of.
And I've been talking to
Mahi now for 2 and 1/2
years about how they
really need to start
moving to FSC, because
it's the right thing
to do.
And I think based
on the shoes,
you're going to be
able to get there now.
Yes.
That's great.
So I'm going
to switch back.
Oh, we had one more slide.
I forgot.
Oh, that was a
future slide.
Yeah, no worries.
Is there anything
else that we
wanted to touch on?
No, it was just really
talking about our vision
to moving into FSC
and how we're excited.
We are strategizing
and building out a plan
on how we want to do this.
I think we definitely
have experience
now that we've done
it with Version
1 and the 2.0.
And with FSC, we're
smarter, we're better.
We know our clients
more and our users more.
So it's going to be a much
more efficient process.
But still a lot
to look forward
to and a lot
of work ahead.
So we're excited.
Thank you.
Thank you, thank you.
Next, we're going to
talk a little bit more
to Sankha here about what
they're currently doing.
So AssuredPartners is
taking a-- and this
is the thing.
When people say, how
do I get started,
what's the first thing?
It's always going to
depend on your brokerage
firm, on where your
users are struggling,
or where you see--
where you can get in
and get some quick wins.
And I think Sankha's got a
good perspective on that.
Yeah.
And you just talked
about how excited
you are moving to FSC.
We started our
journey on FSC.
And we are definitely
seeing huge benefits
from this, right?
Excuse me.
So one of the things that
we looked at at use case
for our aerospace
business was we
had this legacy platform
that was 10 years old.
We acquired this business.
And it came with
a platform that's
completely outdated.
Homegrown.
Nobody knew how it works.
It's already end of life
for several years back.
And we're doing a Band-Aid
approach to keep it up
and running.
So we said,
listen, we're not
going to build
this in house.
So how can we or can we
use Salesforce and FSC
to do this?
Right, so we started
this work a year back.
We are going live.
We're actually going
through integration
testing as I'm talking.
This platform was
completely built on FSC.
We used all the other
different modules,
so it's FSC Objects,
it's Experience Cloud,
it's OmniStudio,
it's MuleSoft
integrating with our
external partners,
with sending data
back and forth
between our financial
platforms as well
as external platforms.
This is right from quoting
all the way to binding.
If you own an aircraft or
if you are a pilot that's
renting an
aircraft, you're
buying this insurance,
you can do it.
It's a directly
frictionless experience
from the website,
from mobile.
It's completely an
omnichannel experience
that we have developed.
So one of the things that
we have seen now with FSC
is because of its
objects that's available,
whether it's
a core banking
object with other
financial services
objects, we
used all of it.
Because the
insurance data model
was not fully available
at that point in time.
So this is only
going to get better
as we put more and more
once the insurance data
model is available, right?
But we are very,
very excited
in terms of what
we are able to do.
All the limitations that
we had with the system
before has all
been taken care of.
Our user interface
is something
that the users love.
The navigation is easier.
It takes maybe 10 clicks
less to get the work done.
Data is all centralized.
Exchanging data
is so simple.
And then as I said, the
integration with MuleSoft
has been a game
changer for us.
Yeah.
So where are
you going next?
Yeah.
So again, we have a solid
roadmap with Salesforce.
And what we are
trying to do
is, yes, we're looking at
the EB and the P&C side.
The way we look at it is
it starts with a customer
and it should end
with a customer.
Everything that
happens in between,
we should be able to
do with Salesforce.
Salesforce did
not have an AMS.
And that created some
of the challenges.
We couldn't truly provide
a unified experience.
I think that some of it is
going to change, Michelle,
right?
Hopefully.
So the goal is identifying
those use cases
and leveraging for our
different business units
for different
geographies and start
doing more and more
with Salesforce.
And having that data
unified in one place
is going to be critical
for us to use Agentforce
to be able to use all the
AI functionality going
forward.
We have some AI use cases.
We have implemented
Einstein AI
that's running.
But we want to start
leveraging more and more
of the ChatGPT
type OpenAI type
interfaces with Salesforce
as we move forward.
That's perfect.
I love the trajectory.
You know I do.
So big fan, big fan.
And we're going to
wrap up with Julie.
You see how I did that?
We started and went
around and came back.
And Julie's going
to talk about what
Alliant's been up to.
OK.
Well, thanks, Michelle.
So basically we
had this system
that wasn't working.
BenefitPoint,
Salesforce, and then
all of these other
Microsoft platforms.
So we had users in
all sorts of systems.
Duplicate license costs.
So we knew we needed
to get everybody
in one system.
So we took a two-year
journey to figure out.
At first, we were trying
to fix what we had
in the Services Cloud.
So we evaluated that.
But realized that
wasn't going to actually
be effective, wasn't going
to get the user experience
I was looking for.
So we went
ahead and worked
to evaluate Financial
Services Cloud.
And once we knew the
broker force module was
going to be there,
we knew this
was our right solution.
Having Michelle
there, who I've
worked with for 25 years,
knowing that Salesforce
is really committed
to this space,
really helped push
this over the edge.
So in January, we embarked
on a six-month development
journey, where
we basically
took all our mid-market
EB client data.
So everything that
was in BenefitPoint
has now been
migrated into FSC.
We really focused on user
experience, workflows.
We optimized what we had
before in the Services
Cloud.
So within six months,
we entirely rebuilt it.
We launched at
the end of July.
I couldn't be more happy
with what we've built.
To the point of the
user experience, just
the limited clicks.
Obviously working with
our development partner,
Zenify, was critical in
here in getting the look
and feel that we wanted.
But we've got an
intuitive user interface.
I've got funding
information now
on my plans.
I know which programs
and services we have sold
on particular clients.
We're going to be
adding the action plan
information.
One of the tests
that I know
we succeeded in
our user interface
being very intuitive
is when we did our user
acceptance testing.
We gave them no job aids.
We just said, go do
this in the system.
And about 90%,
95% of the time,
we didn't run into
any problems at all.
It was actually
quite other-- yeah,
it really was.
So that really let
me know that we
had built something that
our users understand
and can use.
And the fact that
you're able to climb
the Swiss Alps.
I did, yes.
And not have a meltdown
when you got back.
Exactly.
No, after the
six-month project,
I just needed to get
out of the country
for a little while.
And I came back
on Sunday, so I'm
just back on the
time zone about now.
There you go.
There you go.
So this is
really our focus
is on account
data completeness.
We've put basically stop
points in the system.
So if the user isn't
updating certain parts
of the system, they
cannot go forward.
We've built in cues
to the user to know,
hey, you haven't done
your peer review yet here,
or you need to
complete this financial
information.
So our data completeness
is already increasing.
User adoption, that
is just so key to us.
If our users
aren't using it,
why did we go
build the system?
The system is, of
course, designed
to support the business.
But at the end
of the day, we
want this to
help our users.
So when I got back in
the office on Monday,
I actually had
this experience
where I saw one of
our account executives
that I've worked with
for about 20 years.
And she stopped me
and she said, hey,
I really wanted
to let you know
I enjoyed your training
you guys put on.
And I'm like, well,
thank you so much.
That's nice.
But I'm like,
how's the system?
And she's like, oh,
I'm in it all the time.
And she's like,
you have to know,
I was actually very
resistant to this change.
And she's like, I'm so
excited about it now.
And she's like,
the renewal process
is so slick.
So anyway, I know we're
on the right path.
And I'm just excited
with the next journey.
So all of our employee
benefit data is in there.
And the only
thing we have left
is small group
and commissions.
Yeah.
Commissions, you say?
Commissions, yes.
Commissions, you say?
Interesting.
Well, thank you, panel.
Please stay here
to watch the show.
I also would be remiss.
I mean, we've got
wonderful customers
and we can't
do any of this
without our customers.
But we also have a huge
ecosystem of partners.
A lot of these are
familiar to you.
We've got our
system integrators,
we have our InsurTechs.
We are an open system.
We allow for anybody
to build on it.
And we really encourage
Financial Services Cloud
buildouts, because that
is where everything's
going for us.
We also love our industry
standards groups,
et cetera.
So thank you
to all of them.
And with that,
I am so excited.
So I've worked with
both Phil and Urvi
for quite some
time now, and I'm
ready to introduce
both of them.
Philip Ostberg,
you're up first.
Thank you.
Great.
Thanks, Michelle.
Thanks, everyone.
I'm going to move
off over here.
That sounds great.
I'm excited to be here.
Sat through Dreamforce and
listened to a lot of talk
about inflection points.
And as I stand
here, I feel
like we're at
the convergence
of multiple
inflection points.
There's so much
pent up energy
in the brokerage
community for change
and for something better.
And I see so much courage
with our implementation
partners or
design partners
to enact that change.
When you think
about Agentforce
and the inflection
point that we're at
and truly being able to
realize the potential that
is AI and
enterprise setting.
And then from an
FSC perspective,
we are also at an
inflection point
where we are investing
heavily in brokerage
to evolve beyond the way
that you see us today.
The brokerage CRM world
is fairly front office
in nature or potentially
a veneer to some legacy
technology.
And what we're
doing today,
and you've heard it
several different ways
throughout this
conference,
but we're reimagining
what it is to be an AMS.
We are building
the componentry
that allows us to
connect the front
and middle and back office
on a single platform
across all lines
of business.
And the power of that
is really exciting.
We call it Financial
Services Cloud
for insurance brokerage.
Specifically, some of the
componentry that we're
going to discuss today.
Client engagement.
So this is intended
to reinforce
any existing client 360
strategies you have today.
Only moving into the
middle and back office.
So the line of
business servicing,
if we're moving
from left to right.
Property and casualty
employee benefits.
Like I said,
single platform
across all lines
of business.
That represents the
middle office users there.
As we continue to move
to the right, commissions
and revenue.
Again, we'll talk
about that here today.
So representing
the back office.
And overall, as
you round out,
just to say now that we've
got our account management
teams, now we've got our
middle and back office
users on the
same platform,
we can really unlock the
potential of our data.
We can really
use the platform
to drive
substantial change.
And so we're going
to demonstrate
some of that here today.
We've got three
different scenarios.
We're going to start with
Jenny, who's a P&C account
manager.
Move to Alex, who's
an EB account manager.
And then finished
up with Anita,
who's in finance
and accounting.
So Urvi, thank you
for joining me today.
It's nice to
work with you.
Sure, everyone.
We talk about line
of business service.
Client engagement, line
of business servicing
in concept.
But what does that
mean in practice?
Now.
Well, Phil, that's
a great question.
In traditional
insurance brokerages,
right, managing accounts
across multiple lines
of businesses can often
feel like navigating
through a storm.
Now, yes, there
was pun intended.
Didn't land the
joke, Michelle.
Marine, storm.
Never mind,
we'll try again.
But with that,
we do understand
it's difficult, right?
And let's imagine
Jenny, who
is a P&C marine
account manager
and is equipped with
the Salesforce platform
designed to help
her navigate
that storm, right?
So let's see how
she navigates it.
So today, Jenny
starts her day
in this sleek home page
where she's brought up
to speed with the dynamic
dashboard surfacing
and expiration report.
Now going through the
expiration report,
Jenny quickly
wants to dive
into the report
that is expiring
with worldwide
marine policy.
She clicks into
this account view
and is immediately
brought up
to speed with
whatever is happening
with this account.
Now, we understand
that marine accounts
are intricate, right?
And this is where line of
business specific account
view really helps her
to excel in her day.
Here, Jenny can
review the details
around the account.
She can also review marine
vessels, our captains,
and a list of
the policies that
are associated with
worldwide marine account.
But today, she's
specifically hyper
focused on this
expiring policy.
So she quickly
dives into that,
gets herself familiarized,
and picks up that call
to talk with the client.
You're empowered with
this valuable information.
She is able to have a
productive conversation
with the client and is
able to confidently secure
the renewal.
Upon receiving
the approval,
she is able to navigate to
renew with this existing
carrier.
And if she wanted to, she
could modify some fields.
This can be more
or less, right,
and save the renewal.
Now with that,
what we saw today
is that the modern
platform doesn't just
bridge the gap between
the front office
and traditional systems.
But it truly
transforms Jenny's role
from being reactive
to proactive.
Really empowering
her to excel
at her position and
servicing the clients.
Yeah, the line of
business servicing
really starts to
take shape here
when you talk about
the transactions
and renewals and whatnot.
I would say strategically
connecting front
and middle office
makes a lot of sense.
But we talked
about the P&C view.
Can you give us
a flavor of what
it's like to be in
a different line
of business?
Yeah, of course.
I have just the right
example for you.
Now, while it's true that
each line of business
has unique requirements,
but connecting
the front and
middle office
can truly enhance
our capability
to address those
differences, right?
So now, let's
imagine being
Alex, who is our EB Large
Group Account Manager.
Now, Alex has a taskmaster
sort of a personality,
right?
So he doesn't care about
the dashboards and reports
that much.
He wants to dive
literally into his task
and get done with his day.
So here, he sees
there's a new review BOR
task assigned
to him and dives
into, again, the
worldwide marine account.
Now, here, notice
the difference.
What we saw a
minute ago was
the same worldwide
marine account
with the P&C specific
line of business view.
Here, it's catered
specifically
to EB line of business.
Right, to help Alex really
get through his tasks.
Now here, just knowing
that we have one BOR.
Alex doesn't have much
to do around here, right?
So he's trying to
figure out what to do.
And he finds reassurance
in Agentforce.
You really think we
are going to get around
without Agentforce.
So Alex uses Agentforce
to summarize the BOR.
And it highlights
the key milestones
around this BOR, right?
So what's it showing?
I know there are
tiny handwritings,
but we'll try
to enlarge it.
So what's it showing is,
when did we win this BOR?
What are our team
members, and what are they
responsible for?
And it even calls
out that the client
has signed the BOR
transition letter.
Now, thank god for two
days of Dreamforce.
It's easy to believe
that Agentforce takes it
a step further and
automatically creates
a plan using the
medical PPO template.
So Alex really wants to
double down and be super
efficient and drives
directly from here
into that plan.
Now, as Alex fills
out the plan details
and saves them, and
after saving them
navigates to the
policy coverages,
the platform
provides an easy way
to add a new rate plan.
Now, with the business
processes built in
and driving every step,
right, and guiding
through every step, the
tier structure seamlessly
integrates with the
enrollment count and rate.
And this lays a solid
foundation for accurate
premium calculations
and just understanding
where we are going in
terms of revenue, right?
So revenue expectations.
Now with this, we have
a solid foundation
for commissions, right?
And think about
reconciling commissions.
That frees up a lot of
time from Alex's day
in the life, right,
and reduces errors.
So with that,
what we saw here
was that within
few minutes,
Alex was able to complete
a task on a new plan
and review some details.
This modern
platform not only
connects the front and
middle office functions,
but also addresses the
unique needs of each line
of businesses.
It is truly a game
changer, according to me.
Yeah, I mean, you can see
the horizontal platform
playing out with the
common definitions
of workflow and tool sets.
But the line of business
specific vertical
verticals materializing
in that demo, that's
really great.
Yeah.
Want to take a look
at commissions here?
No, no.
Before we do
that, actually.
So I have a
question for you.
We saw a minute ago
the commission rate
calculations, right?
And how are we
really focusing
on expected revenue?
We understand
that it's really
important for the
insurance brokerages
and agencies to understand
that in terms of,
how are we building the
client relationships?
How is our
financial stability
and how are we
managing the risks?
Now with that
in mind, Phil,
what are we doing
to address and bring
those modern tools
and processes
back to our back office?
Yeah, sounds good.
So we're going to step
into Anita's world
here and navigate over
to commissions dashboard.
So starting every journey
is a dashboard or a home
page.
But we're going to
dive in and take
a look at some
commission statements.
Specifically
here, we're going
to look at August's
cumulus commission
statement.
So we've got here
commission statement
with a number of
commission statement line
items.
You can see that the
policy is blank here,
and these are
in a new status.
We've got some
capabilities
from an API perspective
around CSV imports.
So a number of
different ways
to get commission
statements
into the system.
But once they're
in there, we've
got this process
capability here,
which is an extensible
commission processing
service that, if
you can see now,
I've got policies.
I processed the
commission statement.
I've got policies
identified.
They're in a
process state.
There's some that
have aired out.
And there's
various reasons
why a commission
statement might error out.
But we think
what we've done
is created a framework
that's going to reduce
the number of errors.
And so we can
focus, Anita,
who's our finance and
accounting persona,
on more value add
tasks than chasing
error scenarios.
So we process that
commission statement.
And if we want to dive
in and take a look at it
on the Insurance
policy, we
navigate into this
insurance policy, Again,
a line of business
or a persona--
this is really
a persona view.
Where we're looking at
the same insurance policy
record, but now we've got
more accounting oriented
tabs.
We've got our
policy commissions,
so we can see that
we've got March
through August
commission statements
for this policy.
And then we've
got a number
of producer
commissions that have
been calculated here.
So you can see
that there are
Jeannie Blake, Patricia.
These are producers.
They've received
commission.
There's three producers
on this policy itself.
Anyway, we've got
some revenue entities
or the house.
So San Francisco
Revenue Entity,
North America
Revenue Entity.
So these are the
producer commissions
that got calculated
as a part
of the processing of the
commission statement.
But how we did
that is actually
really interesting here.
We've got this
producer split
that is assigned
to the policy.
But this producer split
is a reusable definition
that you can apply.
So you basically define
the library of producer
splits, and I can take
a look at this here.
But this producer split
is part of a library.
And if you can
look at this,
I've got several different
definitions of a producer
role or producer entity.
These first three are
primary, secondary,
and tertiary producers.
They're not defined
by an explicit name.
They're defined by a role.
And then you've got a
number of revenue entities
here across different
types, a number
of different commissions,
bonus overrides,
supporting
different structures
for commissions.
But basically
it's a combination
of explicit splits
and role-based splits.
And so the
role-based splits
is actually what gets you
to an order of magnitude
less data to maintain
and simplifies split
management dramatically.
So if I go here
and say, well, I've
got this split assigned
to the policy--
and now I'm back on
the policy record here.
I go into producer
role assignments
and I can see that
in this situation,
Jeannie is
playing primary,
Blake is playing
secondary,
Patricia is
playing tertiary.
So we've got
those producers
assigned to the policy
in a variety of roles.
And the commission
processing service
takes and marries
up the producers
in the role with
a role-based split
to get you your
producer commissions.
So then when you've
got things that change,
whereas in this situation,
say Blake's leaving
the organization.
I can actually go here and
change my producer role
assignment.
So I navigate to producer
role assignments.
Now I'm looking
at a list view.
And with this list
view, I can go here
and I can filter down.
And I can search
everywhere
that Blake is on a
policy or an account.
And bring those
records back.
And I'm looking at
several accounts,
a number of policies.
All that Blake's
signed to.
And I can go now and
say reassign Blake
on these accounts
and that policy.
And instead of
Blake, I'm going
to have Eric be
the Producer as
of a certain
effective date.
And just like
that, boom, I've
changed-- oh, sorry, I
get a chance to review.
And I see now I've
got these accounts,
these policies, where Eric
is now going to replace
Blake as the producer.
And just like that, you've
changed the producer
definition on that policy.
So a lot of power
in basically reusing
definitions over and
over rather than having
fragmented data all over
your split assignments,
which then makes the
changing of a split
definition or a producer
to be a labor intensive
back end process.
You can move it
to a more front
end user-driven process.
Wow.
That's incredible, right?
Let's take a second
to digest that.
It's exciting to see how
our approach to process
commissions.
And split revenue
among producers
has been not only well
designed, but also
thoughtfully
designed to cater
the adaptability
aspect of it, right?
So a few things
that come to mind.
These are the
conversations
that we've had with
our customers, right?
Think about graduating
apprentices.
Think about
retiring producers.
Think about navigating
promotions and even
acquisitions, right?
So I am very excited
to take this all back
and unpack with
my customers.
What about you, Phil?
Yeah, I'm excited
about the way
we're thinking of the
producer is having a life
cycle of its own and
how we're managing that.
Because it's not just
the policy life cycle,
producer life cycle.
So excited as well.
And I feel very
fortunate to be up here,
fortunate for your
participation,
fortunate to have
such great engineering
teams working on this.
And appreciate
everyone's time.
You all excited
about anything?
We are very excited about
this commissions thing.
Yes!
Are you excited
about anything.
Absolutely.
We can't wait to
use this platform.
And that unified
experience
that we're talking about,
having data in one place,
having the same
definition of data that's
carried from one
place to another
are all the challenges
that we have today,
and I'm looking
forward to it.
Mahi?
Yeah, me, too.
I'm just excited about
FSC and all the investment
with commissions.
That's great to see.
My mind's already
turning with the firms
that could use this.
So that was fantastic.
Thank you.
Thank you so much,
Mahi, Sankha, and Julie
for everything.
For your journey, for
where you're going.
Thank you, Phil and Urvi.
Thank all of you for
being here this morning.
I know insurance
people always
show up first thing
in the morning
after a big concert.
And thank you, Jerome,
for everything.
Look at us.
Two minutes early.
Woo-hoo.
Thank you.
[MUSIC PLAYING]
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