Network Knight a Human “Plug-In”

In this era of rapid growth and development, technology is the key that unlocks opportunity. Unfortunately, the insurance industry has been slow to adopt technology as a primary tool, preferring instead to simply replace manual tasks with automation, and upgrade the old technology, with new, fast, low-cost systems. It is not that the industry is incapable of keeping up, it is more a case of getting the players to accept technological development, advantageously deployed on a timely basis.

The Centre for the Study of Insurance Operations (CSIO), recently embarked on the provision of an industry portal where there is need for standardised communications with company/broker-specific “plug-ins”. Such projects enable high-speed, economical communications, using Internet-based systems, in a business to business (B2B) set up.

What is not so much in evidence are the links between consumer and broker (C2B). Although of primary importance, C2B is usually left on the back burner because it transcends company and broker, creating a potential for conflict.

However, the business case for investing in emerging C2B technology is becoming increasingly obvious and, given that in a dynamic environment it is very difficult to play catch up, the successful will be those quick to recognise the functionality and economies that emerging technology can bring about.

Unfortunately, most of the myriad providers, in their quest for sales, have attempted to apply simple parameters to the sale of complex products and personal services over the Internet. But, as experience has shown, no matter how much you turn up the hype, sales do not materialise unless there are some clear advantages for the consumer. The lesson to be learned is that the Internet as it is used today does not lend itself well to situations that have traditionally relied on “knowledge-based people skills”, which includes p&c insurance.

Today, shopping for insurance on the Internet is a little like visiting the car dealer’s lot when it is closed. You can look at the new models, and read the sticker prices on the window labels to your heart’s content, and unlike the closed car lot, insurance web sites provide much of the information needed to make a decision, when you are ready to buy.

But once you get serious about buying insurance, things change. Typically, after spending about 20 minutes answering a maze of questions, most consumers get to the point where they need some expert help. But when they click the “Need Help?” button, they are more than likely to get a response asking them to “enter your name and phone number, and a broker will call you within three business days”. At this point most consumers abandon the transaction, and there goes another potential customer.

This is one of the areas where the insertion of qualified human assistance makes good business sense. How do you provide such a service, and make it economically viable? The answer can be provided by the insertion of what may be called a “Network Knight”, a little like a ‘human plug-in’. Network Knights can provide the bridge between the faceless, anonymous screen, and a live, knowledgeable broker, or customer service representative (CSR), familiar with both the product and the vendor.

Access to the CSR becomes simple, the consumer simply clicks a “Network Knight” button and a voice connection is instantly established between the user and a CSR. The CSR may be part of the broker’s own organization, or part of the ASP’s (application service provider) Network Knight system. Either way, the CSR has the capability of ‘sharing’ the user’s screen, while maintaining a voice link, providing information, and helping to conclude a satisfactory transaction. The Network Knight is in effect working on behalf of the brokerage the user is connected to.

Network Knight applications can work for any size organization providing that the broker has access to B2B applications, with no large capital costs, and operating costs that are completely dependent on use. Brokers would typically provide training materials for use in developing the broker-specific scripts which would reside on the Network Knight server, so the Network Knight would appear as an extension of the broker’s operation.

Other capabilities of a Network Knight application can include transferring calls directly to the broker, 24/7 personalised telephone coverage, coast-to-coast and round-the-clock roadside assistance, detailed electronic billing, claims reporting, policy changes and payments.

A Network Knight application is designed to provide the necessary C2B services to the consumer/broker, in much the same way that the CSIO portal is designed to meet the B2B requirements of the company/broker. It is not difficult to see the how the interaction of such systems can provide a level of versatility capable of meeting the current needs of the industry, while creating a platform for future growth and development.

The Wired World welcomes your feedback. Contact us, via E-mail at vspencer@corporate.southam.ca