Prudential Implements $100 Million Networking Initiative: 12,000 Field Associates Will Access E-Business System Using IBM ThinkPads and IBM Consulting Assistance

NEWARK, N.J (June 01, 1998) – The Prudential Insurance Company of America today announced that it is implementing a $100 million initiative to provide its more than 12,000 agents and field associates with IBM notebook computers and access to advanced networking solutions.
The new program, Prudential LaunchPad, is an example of the company’s high level of commitment to face-to-face selling by its field force. It was developed with assistance from IBM Insurance Transformation Consulting and IBM Global Services. The program also utilizes IBM ThinkPads*, Lotus Notes** and Domino** and the IBM Global Network. Together these systems streamline the process of writing insurance policies, increase agent productivity and enable Prudential to provide enhanced customer service.
“To be effective in today’s financial services industry, we have to give our agents the tools they need to adapt to new methods of selling and new ways of providing value to the customer,” said Prudential Insurance CEO John Scicutella. “Working with IBM, we designed the LaunchPad program to improve productivity and standardize communications and business processes. The new technology offers field management and agents access to current information from anywhere at any time.”
LaunchPad uses Lotus Notes and Domino** to provide access to a wide range of tools that can improve efficiency and streamline day-to-day activities. Using ThinkPads, agents can access Prudential’s systems for contact management, customer needs analysis, sales illustrations, marketing brochures and other collateral materials. Via dial-up connections provided by the IBM Global Network, agents can even use the system to complete policy applications and access e-mail through Lotus Notes.
The rollout of LaunchPad follows a successful six-month pilot involving nearly 500 Prudential agents and managers. Combined with other streamlined new business processes, LaunchPad technology allowed agents to more than double the number of net paid-for life policies sold, with life net first year commission credits rising 153 percent.
A study conducted at the end of the pilot showed dramatic increases in agent efficiency and productivity and lower turnaround time for new business applications — days instead of weeks. Agents surveyed said they were able to offer customers access to information more quickly and easily, enabling clients to make more-informed decisions about their insurance needs.
Prudential Insurance CIO Barbara Koster pointed out that LaunchPad addresses several key challenges faced by insurers as they grow increasingly reliant on technology, such as diverse operating platforms, limited access to key information and lack of communication between agents and management. For example, she said, more than two thirds of the agents who participated in the pilot were actually using PCs before the pilot.
“But the technology varied greatly with no clear standard for hardware or software. Now, with everyone using a standard operating system and consistent applications software, they can operate their businesses more effectively and we can support them more efficiently,” said Koster.
Two-day training sessions for Prudential field associates are currently underway. By mid-1999 about 12,000 agents and field management will be fully functional on their new notebooks. An additional 2,000 administrative staff members will receive new desktop computers. Follow-up training will be available through interactive TV, CD-ROM, and classroom instruction.
“Such a significant investment by Prudential is evidence of how agents will continue to be integral players in the insurance distribution channel,” said Virginia M. (Ginni) Rometty, general manager of IBM Global Insurance Solutions. “The industry needs to refine its business processes in order to provide more effective customer service. The ability to quickly and easily access information and collaborate on decision-making will not only help Prudential maintain its leadership position in the financial services industry, but will improve customer service and build customer loyalty.”

Source: IBM

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