We’ve all heard the stories. You’ve just invested in a new tool or service and are eager to get up and running. You’ve been assured it will be quick and easy. And then, it’s not.
The process takes too long. The data doesn’t flow easily into your system. The implementation is challenging. Once installed, the product doesn’t work as promised—and you can’t get someone on the phone to help you. Now, other projects are getting backed up. Worst of all, the time delay and poor onboarding have just cost you a customer.
Implementation challenges are a frequent insurer complaint. You need a fast, efficient, and well-supported onboarding process, especially when dealing with advanced tools and cutting-edge InsurTech solutions. The good news is that the onboarding process doesn’t have to be a problem and can meet your needs. All it takes is planning, dedication to the process, and a commitment to customer service.
Preplanning is key
At Verisk, we found the first step to a positive and swift onboarding process—whether for a new product, additional service, or system update—is creating a team. Our recommended team would consist of the account manager, product owner, technical lead, and someone designated to coordinate the process. Insurers should know if there’s such a team in place.
Each member of the team is essential. The account manager owns the relationship with you and should be knowledgeable about your business needs and how your company operates. Product owners, with their intimate knowledge of the product, should be heavily involved from the start, building relationships with you and explaining the benefits and workings of your investment and how it meets your specific business needs. Vital also is the technical lead, because he or she owns the process of installing or delivering the product and such expertise is invaluable to a smooth implementation.
Preplanning the onboarding process should begin before the kickoff meeting with you. The team needs to define the deliverables for the onboarding process and develop an implementation plan. The plan must meet your criteria, and it should be fast, efficient, and supported by the team. You need to avoid lag times and system interruptions. Everything must work within your guidelines—and meet your deadlines.
Once the preplanning work is done, it’s time to move into the implementation phase. The team leader should reach out to reaffirm and define the high-level implementation plan. That individual should introduce you to any members of the team you don’t already know and work with you to create an implementation schedule based on your needs. Together, you need to define clearly the roles and responsibilities for both sides.
The meetings should move swiftly and surely to the actual implementation of the product or service. To answer your needs, that implementation should:
- ensure proper InsurTech integration
- provide the most value for your investment
- limit expenses
- give you a customer-friendly process
The final key element for a successful implementation is for you to receive full, ongoing support at all stages of the onboarding process—and beyond. It’s important you have one single point of contact to call with any issues or questions that arise. That point of contact may change throughout the life of the relationship, but you should always have a go-to person.
With the team approach, your single point of contact should consistently have support from other areas, including operations, IT, product development, and training. The process should always be open and responsive. And responses should be as quick as possible to avoid system interruption issues.
Of course, when the onboarding and implementation process is well planned, efficient, and successful, you may not face many challenges or issues. Verisk is very proud of its successful onboarding process.