Experiencing a century in which technology process is taking place, the insurance industry is entering a phase of profound change with technology as a key factor regarding growth and profitability. We as tigerlab believe in the methodology of constant evolution, therefore we enthusiastically accept the challenges that come with changing markets and customer habits to further improve our tigerlab insurance software. Keeping our software not only up to date, but ahead of the curve to supply our customers with best of breed software the technology – here is our latest update on our newest features.
As a short refresher: The tigerlab insurance software offers a B2C sales and quotes engine, a Customer Service Portal (CSP) as well as a B2B2C sales process. All the collected information can be organized and administered in our strong and extensive back office.
One of the latest features in the Back Office (BO) is the possibility to create tasks. This means that you can create tasks such as a reminder to call a client which can be assigned to the different agents with a due date and time.
Further, there is the opportunity to request a hardcopy of the bought policy for the customer. This option is available for every ordered policy. Once requested a policy hardcopy, an activity will be created in the BO to inform the agents which policies need further action, in this case it is sending the policy hardcopy.
A new feature in the BO as well as in the CSP is the cancellation option, which can be submitted via BO or CSP. The amount of the cancellation can even be adjusted in the BO.
There are two ways the cancellation can be done, with a refund and by credit. First, the cancellation with a refund which creates two activities in the BO:
1) The cancellation activity itself which directly goes into closed activities.
2) The second activity is the refund request where the exact amount is shown that is needed to be paid to the client.
Second, the cancellation by credit which also automatically closes in the search activity. The credit of the cancellation can be used by the client within X days when buying a new policy. If the customers have not bought a new policy within those X days a refund request activity will be created for the agents, if this is wished by the agency, so that the agents can pay the amount back.
Transfer and Amend process
Furthermore, two more new features are a transfer and amendment process which both can be done from the BO and CSP. When an amendment or transfer is submitted in the CSP the request will be shown as a BO activity in the work inbox. After the agent set the status of the amendment/transfer on approved the changes will be taken over automatically in the system and all the information will be updated in the policy and in the policy certificate.
In addition to all of the features above, we now have an activity which will be created when new customer registers in the CSP, this means, that the BO is informed about the creation of a new user account.
Besides, there is the option to create Commercial Business Partners, this means that a company can buy policies and a contact person for this company is also created.
Other than that, the version of the policy is shown in the BO, therefore it is possible to track whenever changes were made in the policy or in the Business Partner (BP) information. Beginning with version 1 once the policy is created, the number changes with every modification of the policy itself or the policy holder information.
Quick Quote update
A new feature of our quote and sales engine is, that in the first step of the sales process a quick quote of the policy can be sent to client via email address, including a link from which the future policy holder can continue working on the policy details later.
Additionally, we have implemented help icons to several fields that need to be filled in by the client to get further information.
Regarding the B2B2C process, the latest feature is a special discount that can be given in Step 5 to reduce the total price of the policy. Not only can a discount be given but also a note can be attached, for example with reasons for the discount, which is then visible in the certificate of the policy and therefore comprehensible for the policy holder.
In the section of discounts, we now offer the option to create voucher codes in the ‘Configurator’/Django Admin in the BO. The BO user can create a code, for example FB5 which then gives a 5% discount on type X insurance.
New voucher panels can be created in the Content Management System (CMS), as back office admin, which are then shown after sending the quick quote to the customer or lead. These can be newly created and adjusted at any time.
Attach T&C file to policy
Besides the new features that were already mentioned, it is now possible to attach terms and conditions files directly to the policy. This is a policy document versioning feature. The files can be uploaded in the BO, as back office admin in the CMS, and can then be attached to the different insurance types. The activation date of the documents as well can be set.
UK Post Code Lookup
Finally, specifically, for our clients in the UK are the following features: we have an API to the license plate lookup in the UK and an API to Data8 which is used to look up post codes and addresses (http://www.data-8.co.uk). These APIs make the process of auto completing the policy holder details and car details much easier and a lot faster, improving the customer journey.