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Insurance Operations January 2013

Insurance Operations January 2013. Presented by: Lynne Shaw AVP Producer Services. Since Mid 2012. New Vice President, Dianne Fox Leader Assessments Insurance Operations Restructure New Leadership in: Producer Services Service Center Actively searching for a new Chief Life Underwriter.

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Insurance Operations January 2013

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  1. Insurance OperationsJanuary 2013 Presented by: Lynne Shaw AVP Producer Services

  2. Since Mid 2012... • New Vice President, Dianne Fox • Leader Assessments • Insurance Operations Restructure • New Leadership in: • Producer Services • Service Center • Actively searching for a new Chief Life Underwriter

  3. Insurance Operations Organizational Changes Why have we changed our structure at this time? • Improved organizational processes aimed at strengthening the Member and Producer Experience • Ensure benefits of new technology continue to be realized – e.g. Straight Thru Processing • Deliberate focus on expanding One and Done Services • Continue to earn customer loyalty

  4. Where are we headed? • Restructure was the first steps – new leaders • Continue to evolve our structure and recruit/develop talent • Solution driven customer service culture • Expand capabilities and continued cross pollination • Consistent service delivery – Process and technology

  5. Foresters Invests in Transformation (FIT) • 33% of all IGO PlanRight applications are moving straight through to issue in NB+U • 100% Imaging • Piloting Life First and Smart UL on NB+U with FFP • 50-60% are bypassing an Underwriter • 58% issued in less than 48 hours * • 20% issued in 3-4 days * * On applications submitted in good order

  6. Document Intake

  7. Faxes made up 48% of our total intake in Q4

  8. Moving your New Business through quickly Top NIGO reasons Banking Information not provided or incomplete Replacement Forms not provided or incomplete Discrepancy between Application and PHI on POS products

  9. Agent Contracting • Top Contracting Application NIGO reasons: • Reporting details page missing or incomplete • AML Certification incomplete • Proof of E&O not submitted • Void check not submitted • Additional details required regarding background info

  10. Your feedback is important to us! Rate of Substantiated concerns was less than 0.5% during Q4 2012

  11. Contact Center

  12. Reinstate with ReDate

  13. Identity Verification Benefits: • Validates applicant’s personal information (name, DOB, address) – ensures accuracy of the issued contract • Alerts Foresters to potential fraud • 92% Pass rate • We reach out to producers in only 2% of cases – we can solve most internally with research • Top Fail Reasons: SSN, DOB, Address discrepancies

  14. Underwriting Q4 Trending(based on finalized cases)

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