Insurtech Can Start with Your CRM

Insurtech Can Start with Your CRM

Adding Vlocity to Salesforce Provides A Robust Foundation for Digital Transformation and Insurtech Innovation

Innovation in the industry is still going strong as the Vlocity Insurance team learned at DIA Amsterdam this spring, where we joined Salesforce on stage for a joint presentation and demo of our new claims solution.  Many carriers we spoke with while there are seeking partnerships with an array of external insurtechs as part of a digital transformation and innovation strategy. At Vlocity we believe that a foundation for digital transformation and innovation across the enterprise can be achieved by leveraging Salesforce CRM along with Vlocity’s insurance-focused software. The combination of Salesforce and Vlocity provide critical components for building a modern insurance business:

  1. The Best CRM Platform – Everything starts and ends with the customer, so using Salesforce, the #1 CRM platform, to manage and analyze customer data across products and channels is a good starting point for any customer-centric insurer.  Salesforce can provide a 360-degree view of a policyholder and provides a single platform to manage everything from marketing to sales to case management along with the opportunity to engage with a customer in their preferred channel. Salesforce’s large ecosystem of AppExchange partners provides access to a variety of tools to further enhance the customer relationship.
  2. The Cloud – According to Capgemini’s latest World Insurance Report, cloud applications “boost incumbents’ InsurTech capabilities by ensuring the availability of necessary resources at a lower cost and by making these capabilities scalable.” By using the Salesforce cloud, insurers can provide omnichannel availability to customer and policy data so agents, policyholders, service reps, and brokers can all access real-time information from any device and a carrier can become a 24x7 digital business.
  3. An Agile Middle Office with Consumer-Grade Digital Experiences – Vlocity software supercharges Salesforce with easy-to-implement insurance-specific processes that can be deployed to any channel: quoting and rating, e-apps, automated underwriting, policy updates, service transactions, claims management and more.  Vlocity provides middle office engines and straight-through processing along with digital experiences that can keep up with the latest insurtechs. The benefits of tightly integrating these digital transactions with Salesforce include the ability to easily pre-populate customer data into any interaction, the ability to build customer intelligence to generate cross-sell opportunities and customize the experience, and the ability to manage all customer lifecycle transactions from one place. Vlocity also seamlessly integrates with Salesforce IoT and Einstein and any other external data source, allowing functionality for next-generation insurance capabilities as well as the capacity to partner with external insurtechs.

vlocity + salesforce DIA amsterdam 2018Salesforce & Vlocity joint presentation at DIA Amsterdam 2018

From digitization of a broker quoting process to personalized insurance on a customer smartphone, Salesforce and Vlocity enable much of the transformation that the next wave of insurance consumers are demanding and provide a robust, scalable and secure platform that supports a rapidly-changing industry.

To view the recent Vlocity and Salesforce Show & Tell at DIA Amsterdam, click here.

Elizabeth Marshall

Director of Product Marketing & Insurance

Liz Marshall is Director of Product Marketing for the Insurance vertical at Vlocity.  Prior to Vlocity she worked in various marketing roles for several large financial services and insurance companies, including MetLife, Prudential Financial, and American Express.