Transform Quoting for the Business
Learning Objectives
After completing this unit, you’ll be able to:
- Explain how Quote, Rate, and Apply delivers digital transformation.
- Describe the four areas of digital transformation.
Digital Transformation at Cumulus
Cumulus Insurance has undergone a major digital transformation with Quote, Rate, and Apply. Wow, what a difference! Cumulus staff look forward to using their new, modern toolset to complete their day-to-day job tasks with speed and ease.
As we know, Anna ended up shopping elsewhere for car insurance. Much to the dismay of Cumulus, she bought a policy with a competitor, Stratus. But recently, Anna heard her colleagues rave about the new Cumulus website, with its fantastic online, self-service capabilities. Anna still has 6 months left on her current auto policy, but she’s already nosing around the Cumulus site for a better deal.
The employees at Cumulus love their new tools, and in fact, they’re downright proud.
They feel more productive because they can help their customers better. They don’t have to spend their precious time on tasks like taking payments or dealing with legacy rating engines and manual spreadsheets. Instead, they can focus on building customer relationships.
And Justus definitely gets five stars for his work.
Let’s look at the ways Cumulus transformed quoting experiences for their customers.
Omnichannel
Anna gets a quote on her phone, laptop... any device of her choice. When she wants to speak to someone, she picks up the phone and calls Cumulus. The agent knows where Anna left off, so she doesn’t have to repeat the information she already provided online. If Anna doesn’t feel like talking on the phone, she can use the chat feature on the website.
Customer-Centric Personalization
With Quote, Rate, and Apply, Anna enjoys a personalized and frictionless experience. She receives quotes for only those car insurance products that are applicable to her, based on the information she provided. Her employer, Cloud Kicks, gives her a personalized portal for her medical insurance too.
Automation
Anna’s auto insurance quote is automatically approved thanks to the business rules that Cumulus set up. Because of this, Anna can check out right away and activate her policy on the same day. Policy approval and payment processing don’t require any manual intervention, so they’re examples of straight-through processing.
Automation is key to straight-through processing at Cumulus. It’s powered by over 75 cloud-based microservices that come out of the box with Quote, Rate, and Apply. These services relieve Cumulus from the intricacies of building and deciphering the logic. Salesforce has taken care of all that. Cumulus can just pick and choose which services they want to use, and then plug and play.
Innovation
Ever since Cumulus implemented Quote, Rate, and Apply, they can:
- Innovate much faster and deliver new products to market without too much fuss on the technology side.
- Respond to challenges and market disruptions faster.
- Focus on what they’re really good at—insuring customers—and leave the complicated stuff like coding to Salesforce.
This is all possible because Quote, Rate, and Apply comes with services out of the box and requires little or no code. This allows agile deployment and fast time to market.
Let’s Review!
There’s so much goodness that came from implementing Quote, Rate, and Apply. Let’s review how this solution addresses each of these four areas of digital transformation. Click each box to learn more.
Want to Learn More?
If you’re a Salesforce customer, check out the following learning journeys to find out how to skill up on our amazing suite of digital transformation tools and industry applications.
If you’re a Salesforce partner, you can find the same great learning plus additional partner resources on Partner Learning Camp (sign-in required). #AlwaysBeLearning