Vital DFx - Vital Insurance CRM

The major challenge facing the Insurance Agency owner is how to efficiently organize resources to address the wide range of issues without letting things fall through the cracks.  Time wasted managing paperwork files spends valuable profit margin dollars of the organization.   Critical details or items missed creates immediate E&O exposure which also drives cost and wastes profits.  These challenges include multiplexing the immediate service requests and action interrupts that come from your existing Account base, with constantly prospecting to develop new Leads into Accounts and Policy wins.  Vital provides a methodology to help organize these actives into a logical, transparent, and controlled flow.  It also provides for a common repository for the critical details and information which provides instant access to data from your PC or Wireless Appliance from anywhere in the world.

The system provides for various sets of Tools, Views,  Dashboards, Reports, and Security based upon a Users and Roles in the Agency.  It provides for Work-flow routing of VitalTasks and Activities among the agency resources for processing.

The Vital Insurance CRM (Vital) is a purpose built application which organizes the critical sales and service processes of an Insurance Agency.  The system is built around a progression of Stages that  Policy Coverage options travel from the initial Lead, trough the Bid and Quote processes, to a Policy win, and beyond for managing ongoing Policy Renewals.  

The Coverage Stages are controlled and tracked through a series of VitalTasks which organize the core Agency processes of closing new business.  VitalTasks are defined as 1) RFB (Request for Bid), 2) Quote, 3) Sales Order, and 4) Invoice. 

By processing Coverage options for an Account's Policy through the progression of VitalTasks the agency can collect Bids (Pricing and Terms)  for Policy Coverages with the RFB VitalTask.  Once the RFB is completed, Bid options are reviewed and approved to be included on a Quote VitalTask for Policy Coverage selection by the Account. 

The selected Coverage(s) is then moved onto a Sales Order VitalTask for Policy processing and document generation for delivery and signature.  The Invoice VitalTask is then utilized to track the receipt of funds and signed documents to complete the policies Binding Requirments.

Vital Insurance CRM includes the following Forms of the Policy Coverage, prospecting, sales and service processes.

Leads - A single place to collect information about potential Accounts, Contacts, Policies and Coverages, Activities (Tasks, Meetings, Calls), and Attachments.  Lead processing can be delegated to various members of the Insurance Agency.  The information collected on Leads are eventually Converted to Accounts, Contacts and Policies at the time an RFB VitalTask is started.

Accounts - Critical information about the Business or Household that owns the Insurance Policies. 

Contacts - People that are connected to Accounts.  These are named members of a Commercial Lines or Personal Lines Policy.

Policies - Details about the policies In-Force with your agency or policies you are targeting for new business with a given Account.

Exposures - Details about the items requiring Coverage for a given Policy.  Exposures are things like Vehicles, Locations, or Categories of Business Exposure such as Artisan Contractor, Convenience Store/Gas, Hotel/Motel, or Auto Repair.

Coverages - Details about the Coverage Limits being offered or included on a Policy for a given set of Exposures.