Digital Insurance Agenda

Vlocity: Unleashing Digital Transformation in Insurance

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Mar 10, 2020

Vlocity is a strategic Salesforce ISV that has created a digital insurance platform that runs entirely on the Salesforce cloud. Powered by Vlocity’s core processes, insurers can achieve faster time to value, lower cost of ownership, the agility to compete with the latest insurtech startup, and the scalability of the world’s #1 customer success platform.

Leaders in the Life, P&C, Group, and Health insurance space are using Vlocity and Salesforce together to transform outdated, legacy processes across the policy lifecycle into dynamic, omnichannel experiences. Vlocity customers include more than 125 large enterprises and emerging players in six specific industries: Communications; Media & Entertainment; Energy & Utilities; Insurance; Health and Government. 

Digital first approach
What’s unique about the Vlocity platform is that it takes a cloud-native digital-first approach, all product development efforts start from the perspective of the user experience. Vlocity supports the entire customer lifecycle, including quote-to-bind, policy administration, service, billing, 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 business intelligence. And since insurers today require omnichannel availability, Vlocity provides digital applications for brokers, captive agents, policyholders, and service contact centers. 

The results are impressive: carriers using Vlocity are going live in 2-3 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 time to market, reduced call handle times, and improved NPS scores.

How it works                                    
Vlocity’s digital insurance platform is comprised of metadata-driven microservices in the cloud, enabling speed of implementation without code. Vlocity OmniScriptÔ powers dynamic guided digital experiences on the web, mobile devices and in the contact center. All business processes are implemented through metadata and a series of microservices is used to connect the metadata with business processes.

 

Why we selected Vlocity for DIA Munich
Vlocity fundamentally transforms how the world’s leading insurers engage with their policyholders, agents, and employees.

At DIA Munich James Webb, Senior Director, Insurance Marketing, Vlocity showed how Vlocity’s digital insurance platform streamlines efficient user experiences across the product distribution chain. He demonstrated the integrated digital experience for the insurer, broker, and the end customer involved in a new product purchase. Combining speed, convenience and productivity are key to satisfying today’s digital consumer.

Who is Vlocity?
Vlocity, a Forbes Cloud 100 company and strategic Salesforce ISV, delivers industry-specific cloud and mobile software that embed digital, omnichannel processes for customer-centric industries.

Vlocity was founded in 2014 and is headquartered in San Francisco, CA, with formal operating entities in 16 countries throughout North America, Latin America, Europe and Asia-Pacific.  Vlocity is a late-stage private company with funding from Salesforce, Sutter Hill Ventures, Bessemer Venture Partners, Accenture, and New York Life.

“The best customer experiences are industry-specific.” David Schmaier, CEO and Founder

https://vlocity.com

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