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As the low-cost insurer, GEICO is keenly focused on creating efficiencies and managing expenses while providing high-quality products and services to its customers. GEICO specializes in personal automobile insurance. A direct writer, GEICO sales agents are salaried company employees and GEICO covers the costs for its agents' pre-licensing education, licensing exams and license, appointment and CE costs. The majority of GEICO's licensing transactions are handled by 12 offices located in nine states.
To expedite the licensing and appointment process and ensure data accuracy, GEICO sought a technology solutions provider to automate the labor-intensive, and often error-prone, process of data entry, data transmission and data reconciliation for licensing and appointing its agents. The criteria guiding the selection process was to find one provider to automate and supply technology for the entire licensing and appointment function that could bring speed and accuracy to processing information, the ability to manage the interface with the PDB, cost containment, and a high level of customer service.
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Tracing its origins back to 1877, Indianapolis-based OneAmerica today is a life company that comprises five companies: American United Life Insurance; Pioneer Mutual Insurance; The State Life Insurance Company, which specializes in long-term care insurance; R.E. Moulton Company, a stop-loss company; and OneAmerica Securities. Within these companies are upwards of 500 people who work to recruit producers, alongside eight regional vice presidents, 120 sales reps in regional group offices, and policy service personnel, all of whom also are tasked with recruiting.
As the OneAmerica holding company grew and added units, it accumulated 16
different operating systems by 2004, each with a different producer database,
making reporting problematic. Moreover, the organization's recruiters,
operating through eight different channels, were sending producers paper
forms to complete. Producers typically experienced a 15-day wait before
being notified of their appointments; and for some, the process took 60 days or
more. As many as 30 percent of the paper-based applications contained
errors and had to be sent back to producers to be corrected, signed again or
re-dated.
"I thought my job was in jeopardy because of the turnaround time with the
field," said Assistant V. P. Producer Compensation & Licensing Services
OneAmerica, Dave Jones. "Our sales people weren't happy with our
turnaround time."
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Prior to 2005, the Minnesota Department of Commerce managed nearly 100,000 active resident and non-resident insurance agents and firms using paper-based processes. Paper insurance license applications frequently arrived without required information and licensing staff needed from five to fifteen weeks to complete and process them. Department of Commerce employees were continually required to review the status of incomplete applications, resulting in so much extra work that the Department often frustrated agents wanting to begin selling insurance in Minnesota. In 2005, Glenn Wilson, the commissioner of the Minnesota Department of Commerce recognized the urgent need to leverage technology so that conducting business with the Department would be more efficient and effective.
In searching for a technology partner, the Department drew up the following requirements:
As the department began to evaluate alternatives, they understood that the cost of implementing such sweeping changes in house could cost Minnesota taxpayers $4 to $5 million.
They knew that a technology partner could potentially reduce the upfront investment, and drive up the benefits.
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