Project Popeye enhances our quote-to-claim process with an improved self-service pricing engine
Like Popeye eating spinach to gain strength and beat out his opponents, the new rating tool, initially for our commercial business, will allow us to continue to gain strength from improved efficiency. The new platform boasts features that years ago we could only dream of. Flash forward to our new reality—EyeRate is here!
When prospective clients and brokers request a plan quote from EyeMed, they expect a fast and efficient delivery of rates. If a sales rep can’t turn around a quote in a timely manner, they could lose the deal. With our new platform, we will continue to build on quick processing of quotes with increased downstream automation to get the sold plans in the system. The old process to set up a new group was clunky and manual, including the use of Excel for price quoting. EyeMed’s aggressive growth made this unsustainable, hence the need for a new generation of the rating engine that would give us the quality control and efficiency we need to keep growing, plus full access to all of our previously unattainable quote data.
Ed Basta, head of underwriting and pricing, explains, “There were 3 main objectives of the project: 1. improved self-service for sales and account management 2. reduction of touchpoints and 3. errors in downstream processes and enhanced security, data management, and internal controls over our rating algorithms.”
The benefits of eating our spinach
EyeRate minimizes touchpoints within the quote to proposal process resulting in a smoother and more effective process for all departments involved, thanks to the following features:
- Improved rating algorithm
- Stable and more secure technology platform
- Competitive intelligence
- Better integration with existing internal processes
- Data integrity
- Internal controls
- Automation of the proposal page and open enrollment (OE) benefit summaries
While Popeye was trying to win over Olive Oyl and save Swee’pea, Project Popeye and the invention of EyeRate is winning over our clients and saving the sanity of many internal departments. It completes the entire quote-to-claim process.
This summer, the teams will focus on automation for OE benefit summaries and policy issuance. Phase 2 kicks off later this year and will usher in self-service functionality for account managers to support renewal quotes for existing clients.
Kudos to the business coordinators, sales operations, pricing, Salesforce, IT, plan set-up, and implementation teams for this successful launch!