Smart Office App Upload: The missing link between the field & carriers

Michele Ohler FLMI

Associate Director – eInitiativesAIG American General

Individual Product Operations

Objectives

What we will cover:

AIG American General Individual Product Operations

A Traditional Application Life Cycle

Benefits Of Smart Office AG App Upload

Other AG Technologies

Potential AG/E-Z Data Enhancements

Technical Change – Industry Wide

AIG American General

AIG American General is the marketing name for the companies comprising the domestic life operations of American International Group, Inc. (AIG). AIG American General companies offer a broad spectrum of products to serve the financial and estate planning needs of its customers throughout the US. These products include:• Life Insurance• Annuity• Investment• Accident and Health Insurance• Financial Institutions

AIG AG eSubmission History

When we started:Data & Image Model – January, 2002“Ticket” Model – January, 2002Image Submission Model – June, 2002

Where we are today:3 Image Models Supporting 200+ Agencies 4 Image and Data Models Supporting 12 Agencies2 Ticket Models Supporting 10 Agencies

Smart Office App Upload: January, 2007

AIG AG eSubmission Future

Where we are headed:

Continuing Installations

Evaluating Other Solutions

Enhancing Existing Solutions

Additional Product Support

Why eSubmission?

The traditional application workflow:

Filled with repetition and inefficiencies!

Data enter app. Data enter status.

Data enter lead.Update with app

data.Data enter service

order.Data enter status. Mail/Fax to carrier.

Why eSubmission?

Data enter lead.Update with app

data.Data enter service

order.Data enter status. Mail/Fax to Carrier.

The Smart Office App Upload workflow:

Shaves days off the processing time!

Data enter app. Data enter status.

Smart Office App Upload

Flexible • Requirements for AIG AG will not impact data

required for other carriers.Reliable• AIG AG application rules are built into the system.

Efficient• Cases received via app upload receive priority

handling.• App upload eliminates mail time and fax handling.• At least one processing day is removed at AIG

AG’s office.

Smart Office App Upload to AIG AG

Coupled with other AIG AG Solutions:

• Electronic Signatures• Electronic Policy Delivery• Automated Underwriting

Can save additional time.

AIG AG - Streamlining the policy life cycle

Electronic Submissions

XML and/or Web Status

Secure Messaging

Automated Requirements Ordering & Matching

Automated Underwriting

Automated Issue

Application Completion

New Business Underwriting

Policy Delivery & Commissions

Intelligent Forms

Electronic Signatures

Paramedical Quality

Ticket

Credit Cards

Electronic Signatures

eDelivery

eServices

XML Commission Data/On-Line Statements

AIG AG – Integrating Vendor Services

Electronic Submissions

XML and/or Web Status

Secure Messaging

Automated Requirements Ordering & Matching

Automated Underwriting

Automated Issue

Application Completion

New Business Underwriting

Policy Delivery & Commissions

Intelligent Forms

Electronic Signatures

Paramedical Quality

Ticket

Credit Cards

Electronic Signatures

eDelivery

eServices

XML Commission Data/On-Line Statements

E-Z Data

Smart Office App Upload to AG

Future Enhancements:• Additional App Upload Users• Ordering a Teleinterview • Improved Pending Status Feeds• Commission Feeds• Inforce Data Feeds

Life Insurance Industry Trends

Streamline Imaging

Establish Data Feeds Throughout Workflow

Utilize New Data Sources

Anticipate Change.

The importance of being innovative*

Study provides perspective on challenges insurers will confront in 2020 and strategies for successful innovation:• What fundamental trends will shape the insurance

marketplace?• What strategic challenges will serve as a catalysts for

change?• How must the industry evolve to meet the needs of

demanding customers?• Can companies distinguish themselves in a market

where the playing field is increasingly leveled by technology?

*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006

Optimizing today’s “business as usual” will not be enough to create value and ensure success

in 2020 *

Key Findings

• Mega-trends will force the industry to innovate• Old modes of thinking threaten the industry’s ability to

innovate• Interlopers, (i.e., non-traditional distributors) will

increasingly disrupt traditional insurance operations• Industry leadership will require experimentation in

operating models, processes, products and customer relationships

• Strategic investment in business model innovation today is critical to success in 2020

The old model of insurance has been pushed forward by automation for the past 40 years – future success will come from exploiting new models

*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006

To what extent will the insurance industry change by the year 2020? *

Unrecognizable - 0%

Significant Change - 70%

Incremental Change - 30%

No Change - 0%

*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006

There will be increased partnership and collaboration across stakeholders in

2020? *

Totally Agree - 40%

Partially Agree - 40%

Partially Disagree - 15%

Totally Disagree - 5%

Success will favor carriers that recognize the power of collaboration and act on it sooner than later*

*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006

Strong financial performers are more likely to emphasize business model innovation *

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Underperformers Outperformers

% o

f em

phas

is b

y in

nova

tion

prior

ity

Products/ services/ markets

Operations

Business Model

Business model innovation will allow the insurance industry to improve their financial performance

*From IBM Global Business Services “Insurance 2020: The Importance of Being Innovative” May 2006

Smart Office App Upload

Thank you!