Vlocity & Salesforce: Unleashing Digital Transformation in Insurance

Vlocity & Salesforce: Unleashing Digital Transformation in Insurance

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on 23 Apr, 2018

Founded in 2014 and with insurance customers across the Americas, Europe, Africa and Asia, Vlocity is a strategic Salesforce ISV that has created a digital insurance platform that runs entirely on Salesforce. By augmenting Salesforce with Vlocity, insurers can achieve a much faster time to value, a lower total cost of ownership, the agility to compete with today’s insurtech startups, and the scalability of a product that stays in sync with a CRM system all the way through. Leaders in the Life, P&C, Group, and Health insurance space are using Vlocity and Salesforce together to transform outdated, legacy processes across the customer lifecycle into dynamic, omni channel experiences.

What’s unique about the Vlocity platform is that is entirely centered on the customer; all product development efforts start from the perspective of the customer digital experience. Vlocity supports the entire customer lifecycle, from the initial needs assessment and quote to service, policy management, and claims. Because Vlocity is built on the Salesforce platform, all of these lifecycle transactions are incorporated within the overall customer journey and managed through the Salesforce CRM system, so deep insurance functionality is blended with important CRM features. And since insurers today require omni channel availability, Vlocity provides digital applications for brokers, agents, policyholders, and service contact centers.

How it works

The functionality that powers Vlocity’s capabilities is supported by Vlocity's "agile middle office,” which extends the policy administration capabilities of Salesforce to meet the diverse needs of any insurance business. For data that resides outside Salesforce, Vlocity provides a series of low­ code or no ­code integration tools to integrate with any back-office system.

Why we selected Vlocity and Salesforce for DIA Amsterdam
The Vlocity and Salesforce partnership is fundamentally transforming how the world's leading insurers engage with their policyholders, agents, and employees. The results are impressive: carriers using Vlocity and Salesforce are going live in 2­ to 3 months and seeing immediate business results: quoting and application times reduced from days to minutes, significant increases in agent quoting, reduced time to proficiency, reduced call handle times, and improved NPS scores.

Vlocity and Salesforce are teaming up to present their latest P&C claims management functionality, launched in Vlocity’s Spring 2018 release (one of 3 yearly releases that align with Salesforce product releases). Their claims solution includes a dynamic First Notice of Loss experience, claims data management, peril­-based auto ­adjudication, and an adjuster workbench. With Vlocity, insurers can augment their Salesforce platform with end-to-end, omni channel claims functionality.

Vlocity and Salesforce speakers at DIA will be:

  • Raja Singh, Senior Vice President, Products & General Manager, Vlocity Insurance
  • Edwill Jansen, Regional Vice President Financial Services Industry, Salesforce. The Netherlands

            

Raja Singh, Vlocity Insurance                  Edwill Jansen, Salesforce

Who are Vlocity & Salesforce?
Vlocity, a Forbes Cloud 100 company and strategic Salesforce ISV, delivers industry ­specific cloud and mobile software that embed digital, omni channel processes for customer centric industries. Built in partnership with Salesforce, Vlocity is one of Salesforce’s fastest growing partners. Vlocity Industry Cloud Apps embed industry specific functionality, best practices and business processes for the Communications & Media, Insurance & Financial Services, Health Insurance, Energy & Utilities and Public-Sector industries. Vlocity enables companies to achieve faster business agility and time to value from the cloud across digital and traditional channels.

Salesforce is the world’s #1 Customer Relationship Management (CRM) platform. Our cloud­ based applications for sales, service, marketing, and more don’t require IT experts to set up or manage - simply log in and start connecting to customers in a whole new way.

"Vlocity's omnichannel capabilities, supported by our agile middle office, enable our insurance customers to continually improve mission ­critical processes through configuration, not custom development."
Raja Singh, SVP Products and General Manager, Vlocity Insurance

“Salesforce has been a leading cloud­ based Customer Engagement Platform during the last 19 years; in the last few years, Salesforce has enabled industry­ specific end­-to-­end transformation (e.g. Insurance) whereby time­to­market and smart usage of AI play a major role. Our partnerships with leading ISVs have allowed us to provide a cloud platform strategy not only for Customer Engagement, but also for Employee Engagement and Mid Office transformation.
Edwill Jansen, Regional Vice President, Financial Services Industry, Salesforce The Netherlands

Website: www.vlocity.com
Website: www.salesforce.com

Presenter 1: Raja Singh
Presenter 2: Edwill Jansen

Contact info Vlocity: Elizabeth Marshall
Email: emarshall@vlocity.com

Contact info Salesforce: Yuki Mitsunaga
Email: ymitsunaga@salesforce.com

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