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Applying Code Halos To Insurance Companies And Agents

Code Halos
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Applying Code Halos To Insurance Companies And Agents

Code Halos can play a strategically important role in the interplay between business processes of Insurance companies, Agents/Agencies...

4 Minutes Read

Code Halos can play a strategically important role in the interplay between business processes of Insurance companies, Agents/Agencies and end customers.  When an individual insurance agent calls into the call center of the insurance company, how powerful would it be if their presence was preceded by a Code Halo?  The answer: very powerful.  When you start to mash-up or otherwise enjoin the halos of the agency and the Insurance company – cool, powerful, enriched, and real-time things can happen at the moment where two Code Halos come together.

Consider this: The call center representative would have immediate historical data on that agent’s interactions, such as the types of calls they’ve placed in the past, the types of policies they’ve sold, the demographics of customers they serve, etc.  The Insurance company call center has a Code Halo itself that could also be incredibly informative to the individual Agent, reducing wait times, getting to the right decision-maker with zero-latency, getting up-to-the-minute information about claims made by demographic, region, or policy type.  Meanwhile, the call center representative can be pulling up information about either the Agent – or the Agency – that is calling in.

The same Code Halos logic applies not at the level of the individual agents, but also the agencies that employ them, at an aggregate level. They’re out there – selling policies all the time.  There is data and meta-data imbued within the agency’s Code Halo; what works, what sells, and what doesn’t. 

In real time, opportunities are unlocked.  By having meaningful data about how the Agent has interacted with the call center in the past, the Insurance call center representative is made “smart”, and can proactively start to service the Agent.  Patterns will emerge for certain elements, the types of interventions needed, clarifications made – a powerful lever to service, speed, efficiency and effectiveness.  Gone is the need to go through the typical 15 step process to ascertain things like “Why’d you call? What do you want?  Where are you located?”  Instead, a tangible sense of efficiency and experience is substituted – to get business moving faster and smarter.

Through these interactions, imagine the richness of the information that the Insurance company can now extract. Say, for example, there are ten Agents that are very high producers that have Code Halos that present certain common characteristics.  And there may be other Agents that are lower producers and their Code Halos look differently.  How can aspects of the highest producers’ Code Halos become transposed, either individually, at the Agency level or more broadly in the business, to proactively make lower producers more efficient or more effective?

This is analytics by another name, enabled by SMAC technologies. Some of these sources of Code Halos may involve behavioral differences, or involve demographic differences (age, private sector vs. public sector employees, region, etc. will buy services in a certain way).

But fundamentally, it’s the series of Code Halo elements coming together to drive insight about the process, or more importantly, at the product or policy level. You may have a policy that’s performing really well in the market, and another one that may be very similar, but perhaps doesn’t perform in the same way. Why?  The Code Halos around it and the interactions between Agents, the customer, the geography, the policy nuances, etc., all have a hand in informing the answer. Essentially, it comes down to:  How can Code Halos inform, drive, augment and shape your business strategies, and decisions?  How do you want to utilize them and interpret them for business outcomes?   Insurance is just one example where, at the process level, Code Halos are starting to have a profound impact.

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