In a major enhancement to its point-of-sale automation, Seattle-based Safeco has unveiled plans for a single, unified web-based technology platform that will reportedly make it faster and easier for independent distributors to quote and sell all of the company’s commercial and personal insurance product lines.
A pilot project will test the personal lines-portion of the new platform in select agencies beginning in November. Web-based new-business entry for personal auto and home insurance products will launch on Safeco’s agent portal, www.safecoplaza.com, in second quarter, 2004.
Safeco began introducing agents to online new-business-entry in its commercial lines in January. The speed and convenience of online transactions is reportedly credited with boosting sales of Businessowners Policies (BOP) by nearly 36 percent during the first six months of 2003, compared with the same time last year. The company began adding commercial auto sales online in July and workers’ compensation will be available online later this fall.
“Bringing together our commercial and personal lines new-business-entry process in a unified, web-based platform will strengthen Safeco’s new company structure that focuses on delivering Property & Casualty (P&C) insurance products,” said Anne Randall, vice president of personal lines automation. “A single interface is a key component in an automation strategy that will position Safeco as an industry leader in online technology.”
A single platform will allow agents to enter customer information once and navigate quickly between personal auto and homeowners insurance and business policies, with the ability to issue bindable quotes in minutes… In addition, a web-based process will reportedly lower operating costs and improve efficiency by eliminating agents’ need to update and maintain desktop rating software.
Safeco’s confidence in the success of personal lines web-based new business entry is reportedly based in part on agent involvement in the platform’s design. “We relied on input from our independent distributors at every step of the development process,” added Randall, who heads up a 20-member agent technology focus group. “We built in the features agents wanted most and will use agent feedback to refine and expand the platform’s functionality.”
Safeco’s latest ease-of-doing-business agent technology will reportedly complement new personal auto and homeowners products, which are nearing completion of their nationwide launches. Market segmentation and tiered pricing have expanded the auto product’s reach to an estimated 95 percent of customers.
Topics Auto Agencies InsurTech Commercial Lines Business Insurance
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