Fact or fiction? There is some misunderstanding about Policy Works eMarketing. We give you the fresh brew. No sugar or cream, just the straight-up truth.
Myth 1: eMarketing is complex
FICTION. In fact, many of the current workflows, including straight-through upload, download, and policy inquiry are quite simple workflows.
Myth 2: eMarketing is more work
FACT & FICTION. Yes, there can be duplication of work when uploading a submission to some of our broker portals. Often, broker portals require information to give real-time quotes that are outside the scope of what Policy Works collects or the data cannot be mapped according to CSIO XML standards.
However, for straight-through uploads, like SGI CANADA, Coachman, ICPEI, and L'Unique, there is no re-entry of data. The workflow is actually easier than emailing a submission to your underwriter.
And the download process actually saves you time by importing the quote details from your underwriter, including coverages, directly into Policy Works. You can download the quotation details from different markets to compare, and ultimately decide on which to propose to your customer.
Myth 3: eMarketing is for uploading to insurer portals only
FICTION! The very first eMarketing solutions bridged Policy Works to different insurer quoting sites. Since then the functionality has expanded to include straight-through upload of submissions (with certain carriers), download of quotes, and billing, claims & policy inquiry.
Myth 4: eMarketing uploads are for small package business only
Again, FICTION. Our straight-through solutions are for all types of commercial business. Even solutions designed to quote on small package business will refer a submission to an underwriter if it does not meet eligibility requirements.
Myth 5: eMarketing upload data transfer is incomplete
FACT & FICTION. Yes, additional information may be required with the portal bridging solutions for Intact, Gore, Aviva, & RSA.
However, for straight-through solutions like SGI CANADA, Coachman, ICPEI, and L'Unique all of your Policy Works submission data is transferred.
Myth 6: eMarketing is only for marketing i.e. inquiry
Complete FICTION. eMarketing is simply the name we gave to our data exchange solution. The functionality includes submission upload, quotation download, and policy, billing, & claims inquiry.
Myth 7: You can't download a quote without first having uploaded a submission
FICTION! You can download an insurer quotation regardless of how you sent in the submission (or RFQ i.e. request for quotation).
Myth 8: A download won't let me customize my proposal
FICTION! Your proposal can always be customized, even if you download a quotation. A read-only tab will be created with the company's response, but you can customize the proposal directly on the Schedule of Insurance.
Myth 9: eMarketing doesn't apply to me
Maybe. Perhaps eMarketing doesn' fit your current workflows. But if you are a CSR, Account Executive, or Marketer and you either send in submissions or require quotes to complete a proposal, then eMarketing applies to you.
Myth 10: Managing all the passwords is too complicated
FICTION! Policy Works has developed Single-Sign-On technology for participating insurers. Once you enter your credentials, Policy Works stores and remembers them so you don't have to.