Macaw is a component-based software, and a solution around a few of its components can improve automation in a particular workflow that poses to be a problem for an Insurer or Broker.
In today's environment, a sell can start in one channel, and can complete using another channel.
For example, a retail customer for an auto policy can come across an advertisement in social media, click there and fill up an e-form that is submitted by email, and then receive a personalized link for quotation that takes the customer to a screen where a rough quote is presented for a standard risk profile of a compact car. Once the customer finalizes the options in his / her mobile phone, the eSign and payment takes place resulting in a Policy.
It should be possible to get the single opportunity tracked and processed step-by-step through all these different touch-points without any manual intervention, unless a referral is involved due to some special feature of the risk.
Macaw facilitates this with its service-oriented architecture and anytime-anywhere-anydevice capabilities.
Cost of new business is typically between 6 and 10 times of renewing a Policy.
Macaw drives the renewal campaigns with its flexible and customer-insight driven configuration facility. This way, the opportunities cannot be lost.
To close the business, the salesperson can depend upon the automated as well as ad-hoc communications using email, text and social media channels. With the in-process integration with multiple payment gateways and e-signing facilities, the salesperson's effort and the chance of human error is reduced to a large extent.
While all Agencies appreciate the value of regular collection of data and regular evaluation of the information to derive business metrics, it is difficult for smaller agencies to create specific infrastructure with required tools. Creation of a strategy, development of the system around tools, and maintaining the infrastructure are all effort-intensive affairs.
Macaw Explorer facilitates the agencies to create their own visualizations and reports. With some data mapping, and with the capabilities of Macaw Explorer, Agencies can drill down their data, can get automated reports and can develop customized metrics for their own.