Agent Extranets Overview
Celent predicts that U.S. carriers will spend US$1.06 billion on new agent extranet technology within 24 months
The use of agent extranets provides the clearest and most straight-forward path for insurance companies to benefit from using the web. Celent Communications' new report, , predicts that the number of carriers implementing these systems will more than double within 24 months, and that the total amount spent on these systems will top US$1.06 billion within the same period.
"Effective use of agent extranets can dramatically reduce policy origination and service costs," says Celent analyst Matthew Josefowicz, author of the report. "Even more importantly, reducing lag-time in agent communication can make independent agents more productive, and more loyal to the carrier."
In addition to reducing costs, the further computerization of policy origination and agent relationship management offers the opportunity to refine both areas through improved reporting and data monitoring.
The report includes summaries of the main features of most agent extranets and their benefits, and a step-by-step overview of the process of designing and implementing a system, from needs analysis through analyzing workflow impact, making the buy-versus-build technology decision, and driving adoption through hands-on training of agents.
The report also includes a sample ROI-calculator to help insurance carriers evaluate the potential impact to their organizations.
A Table of Contents is available online.
of Celent Communication's Life/Health Insurance and Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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|New York, NY, USA December 12, 2001
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