From Press Release
Modernized Digital Platform Simplifies the Quote and Issuance of Small Business Policies
SAN FRANCISCO, CA – (Marketwired – Dec 6, 2017) – Vlocity, Inc., a leading industry cloud software company, today announced the release of Vlocity Digital Quote, Rate & Apply. With the new solution, insurance carriers can configure a modern end-to-end new business process for property and casualty, life, health and specialty products that can be used by consumers, agents and brokers on any device. Designed to replace the fragmented and often hard-coded processes that many carriers rely on to generate quotes and applications today, Vlocity Digital Quote, Rate & Apply returns control to the business, enabling them to launch new products and craft omnichannel digital experiences without legacy system impediments.
Built on the Salesforce Platform, Vlocity Digital Quote, Rate & Apply enables insurance carriers to create dynamic needs analysis flows; present product options and make recommendations; look up factors and rates using matrices from uploaded csv files; and calculate premiums using sequential algorithms. Additional features include:
- Unique product modeling capabilities that enable the ability to build custom packages of coverages into product bundles
- Intelligent algorithms that provide suggestions for riders and endorsements
- Product applications that can be configured with reflexive questions
- Document generation capabilities that include integration with DocuSign
These processes can be designed with a drag and drop user interface and may also be integrated with third-party systems and big data sources.
"The quoting experience is often the prospective customer's first interaction with a firm, and the majority of those interactions are now happening in digital channels," said Raja Singh, senior vice president and general manager of Vlocity Insurance. "Vlocity's omnichannel capabilities, supported by agile rating, product and document capabilities, enable our customers to continually improve this important mission critical process through configuration, not custom development."
Vlocity Insurance extends the Salesforce Platform to meet the unique requirements of our insurance customers
– Rohit Mahna, SVP & GM Financial Services, Salesforce
Vlocity's Quote, Rate & Apply solution is part of a suite of insurance applications that power business processes for agents, brokers, channel managers, customer service representatives, and customers on top of the Salesforce Platform. Carriers can leverage the world's leading CRM functionality and the most trusted cloud platform to deliver industry-specific transactions like quoting a policy, changing a beneficiary, or setting up a payment plan.
"Vlocity Insurance extends the Salesforce Platform to meet the unique requirements of our insurance customers," said Rohit Mahna, senior vice president and general manager of Financial Services, Salesforce. "With the quoting and rating processes from Vlocity, insurance companies can now streamline the customer's entire 'new business' journey on Salesforce - from campaign, to lead, opportunity, quote and issue."
To learn more about Vlocity Insurance, or to request a product demo, please contact email@example.com. Vlocity Insurance will also be at the Salesforce World Tour in New York City on
December 14: http://go.vlocity.com/SFWT2017
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Vlocity Insurance & Financial Services
Vlocity Insurance and Financial Services apps are a modern, enterprise-scale suite of omnichannel solutions which power business processes for producers, brokers, channel managers, contact centers, and consumers on top of the Salesforce platform. Designed for Property and Casualty, Life and Annuities, Employee Benefits, and Specialty Lines of business, Vlocity provides guided, digital interfaces for processes across the customer journey, including quoting and applications, service, account management, renewals and claims. These processes can be configured without code and deployed to any device or channel and integrate seamlessly with back-office and third-party systems. Vlocity is a member of ACORD. For more information on Vlocity Insurance & Financial Services, visit insurance.vlocity.com and follow us at @vlocity.