Transform Your Insurance Business

Learning Objectives

After completing this unit, you’ll be able to:

Explain how the Digital Insurance Platform delivers digital transformation.
Describe the common solution design patterns for the Digital Insurance Platform.

Digital Transformation at Cumulus Insurance

Cumulus Insurance has undergone a major transformation with the adoption of the Digital Insurance Platform. Justus, Cumulus’s consultant, notices a big change in how the employees work and how much more productive they are. Customers like Anna are impressed by how quickly and easily they can shop for and enroll in plans, and deal with other insurance matters.

Cumulus Insurance employees are happy with the transformation.

So what does digital transformation at Cumulus look like?

Omnichannel: Customers can use portals, mobile apps, chats, and other emerging technologies to self-serve with Cumulus, and they can do it with their device of choice. All channels are connected because customer data is centralized in Salesforce.
Customer-centric personalization: Customers enjoy personalized, customer-centric experiences at every stage of their interaction with Cumulus, including plan shopping and enrollment. They have access to a personalized portal where they can complete all insurance-related tasks. They also receive personalized support from sales and customer service reps.
Automation: Now that Cumulus uses the Digital Insurance Platform, they see lots of opportunities for automation. This includes straight-through processing of quotes. They can also schedule and automate all policy changes, endorsements, and renewals.
Innovation: With the Digital Insurance Platform no-code and low-code development capabilities along with many out-of-the-box services, Cumulus can respond to changes in the industry and bring innovations to market fast. Finally, Salesforce developers and admins at Cumulus spend far less time developing new insurance products and managing existing products, because their new internal apps make products easy to maintain.

Solution Design Patterns

You’ve already learned that you can use the Digital Insurance Platform with Financial Services Cloud and Health Cloud. Let’s see the overall solution when you combine the platform with either cloud.

Digital Insurance Platform and Financial Services Cloud

If you offer commercial insurance, such as renters insurance, property and casualty insurance, or auto insurance, you can pair the Digital Insurance Platform with Financial Services Cloud to power your insurance-related processes and workflows. In addition, you can use other customer-360 capabilities of Salesforce.

Salesforce products and solutions you can pair with the Digital Insurance Platform and Financial Services Cloud

Commerce and marketing: Use B2C Commerce Cloud for cart and checkout, bundling, scheduling and booking appointments, and more. Use Marketing Cloud Engagement for orchestrated, personalized communications and campaigns to generate leads and new customers for your insurance business.
Customer portal and service: Create brandable policyholder and broker mobile apps and portals with Experience Cloud. Use Service Cloud for chat capabilities.
Analytics and integration: Work with Tableau to get insights on your portfolio analytics. Integrate Salesforce with your legacy third-party platforms using the powerful integration workflows of MuleSoft.

Digital Insurance Platform and Health Cloud

If you’re a healthcare payer or a healthcare provider and offer health insurance such as individual or group health benefits, you can implement the Digital Insurance Platform as part of Health Cloud. Use these additional Salesforce solutions to achieve digital transformation, from shopping to care.

Salesforce products and solutions you can pair with the Digital Insurance Platform and Health Cloud

Provider network and relationship management: Optimize the provider onboarding and coordination experience, ensuring network growth and compliance.
Care management and collaboration: With Health Cloud, provide personalized member care plans and communications using a single platform for collaboration.
Customer acquisition and retention: Use Sales Cloud to manage your customer relationships with healthcare providers and payer companies and pipeline.
Communication and engagement: Use Health Cloud to engage all healthcare stakeholders through omnichannel, personalized digital experiences for every touchpoint of their 360 journey. Drive engagement by automating the key processes that drive better health through seamless, straight-through processing regardless of the system of record.
Analytics and integration: Get insights into your business with built-in Salesforce analytical capabilities and Tableau CRM for healthcare. Manage care requests and gain visibility into the preauthorization process with the Utilization Analytics dashboard. Use MuleSoft to integrate Salesforce with your third-party systems like Electronic Health Record (EHR) systems or pharmacy.

Digital Insurance Platform for Brokers

If you’re an insurance carrier who works with brokers, you need to help them stay relevant and successful in the digital era. Use Financial Services Cloud and the Digital Insurance Platform not only to run your own business, but to help your brokers run theirs. For example, with solutions like Quote, Rate, and Apply, your brokers can access your portal to quickly manage quotes for their customers. Implement Experience Cloud to create portals for your brokers so they have all the information they need about your products.

However, the broker’s use of the Digital Insurance Platform goes beyond interactions with the carrier. Brokers can have their own instance of Financial Services Cloud and the Digital Insurance Platform to run their business. For example, brokers can:

Track all policies and claims on behalf of their customers.
Ensure that everyone in the company has their eyes on the tasks that need to happen throughout the lifecycle of the plan.

Some wholesale brokers have the authority to underwrite and provide quotes to other brokers. In addition to Financial Services Cloud, they can use the Digital Insurance Platform to support this side of the business.

Here are the Salesforce solutions that brokers can use to run their business.

Salesforce solutions for brokers

Sales and marketing: Use Sales Cloud to manage relationships, quotes, and pipeline. Drive marketing campaigns with Marketing Cloud Engagement.
Insurance and customer portal: Gain a 360-degree view of your customers with Financial Services Cloud. Provide portals for integrated quote-to-bind processes.
Collaboration: Use Slack to get real-time knowledge and collaborate with others.
Analytics: Get insights on your book of business with the analytics capabilities of Tableau. Analyze the performance of your marketing campaigns and pipeline. Track carrier commissions and producer splits.

Let’s Review

Let’s review what you’ve learned. Match the use case to the correct solution design pattern. When you finish, click Submit to check your work. If you want to start over, click Reset.

Congratulations! In this module, you learned all about the power of the Digital Insurance Platform, who uses it, and how it helps transform your business.

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