Immerse yourself in an engaging series of technology-focused presentations, unveiling an array of innovative products and services specifically tailored to enhance your workflows.
Transcription:
Remy (00:09):
Hey everyone. Hope you all had having a great time here in Boca. I'm here to tell you guys a little bit about sales screen. We are a sales gamification platform. After having a couple of conversation here initially, I understand that not everyone knows what gamification is. So just to kind of start off, I just want to help paint the picture of what we do here by looking to another industry that is using gamification very well, which is the fitness industry. I think we're all familiar with the Apple watches, the Peloton bikes, they all use these game-like mechanics to get people more engaged with their workout and being more engaged with your workout, you're obviously going to get a higher output. That's exactly what we do for your sales teams where we go in and we use these same game-like mechanics that are used in the fitness world and we add them to your sales team.
(01:01):
And by doing that, we get them more engaged with their sales activities. And if you're more engaged with your sales activities, what happens then? Well, you're going to get more sales at the end of the day. So how do we do this, right? So we do this by grabbing your sales activity and showcasing him across three platforms. Platform one is the big screen which you're looking at right now. Think of this as like the Peloton screen, right? We bring in elevate your information and we bring it in front of you. So if you walk into an office, you see what's happening, who's doing how you're stacking up on different leaderboards, if you're progressing towards badges, rewards and so forth and so on, just to kind of get you a weir of what is happening in real time. So this is where we bring up and we spotlight what is happening with inside the org, kind of like the modern whiteboard and bell if you will. And let's say you do something well that we want to recognize, let's say that is getting a sale. So this could come from a manually input via web browser or mobile app, but it could also come directly from CRM.
(02:15):
So what happens then is you add, and let's see here.
(02:37):
So everyone gets their own celebration. So essentially when you add a sale, your big screen celebration will pop up and you'll get that 15, 22nd walkout song you kind of celebrate when you do the right type of activity like closing a sale. So let's say you're not in the office, you're not in front of this rotating screen. We have two other platforms that we showcase this in, which is the web browser and the mobile app. So when you go into the mobile app or web browser, the first place you come to is this wind feed. So again, very similar to let's say a social media feed where you see the highlights of what is happening. But instead of logging into Facebook or Instagram and seeing what your neighbor's political views are, the newest conspiracy theories, you come in here and see the latest of sales activities and you can come and you can do all these things that we know releases dopamine and serotonin and wants you to get back on the board here, giving people that real time recognition when they do something good.
(03:44):
All this information that we're gathering here, we can also display those in these nice dashboards. Just make it really easy for the individuals to see exactly how they're doing and tracking towards their KPIs. Think of this as a dream board. However you'd want your KPIs here. This is how we can bring it forward. We normally would bring it forward in a personal dashboard and then an office dashboard where you can have different teams so you can see how you're stacking up and how your team as an overall is trending towards your goals. So we've got a lot of different ways here to display it towards targets, conversion rates and so forth. And we can even bring this up another layer to see how the overall company is doing towards its goals. So the idea here is just to bring this forward in a very user-friendly way for the frontline rep so they can really understand their data and build the relationship with their data.
(04:40):
Because ask any professional in any sports, for example, what their numbers are, they will know that on top of the head they have this relationship with their numbers, which you need to have in order to be successful. So this is what we want to enable that agent to get. And of course, having all these numbers here, we want to have some fun with it like the newsfeed or the win feed. We also got competitions. So this is where we can come in and we can deploy various competitions here. We can have team versus team competitions. We can have individual competition. We have white elephant competition, we have a lottery competition. We have all these different types of competition to keep the team engaged. Another element we've done here is with these competitions that we want to, for example, with this wheel of fortune here, we want to bring in this element of champs.
(05:31):
We don't want that same winner winning the same prize with the same competition week in, week out. We want to bring in these different types of competitions that allow different winners. So as long as you're participating and you're engaging in it, you are going to earn these lottery tickets. It's going to give you a chance of winning when you spin this wheel at the end of it. So a lot of what we cater to here is bringing in that middle and bottom performers. We don't want the same winners running away with everything as long as you're doing the right type of behavior, we want to get you rewarded at the end of the day. Another way we do this is through badges achievements. So a lot of people are familiar with this through their Apple watches, their Fitbits where they're closing out their step counts or their calories for today, they're taking the stairs instead of the elevator because they just want to close out that last ring.
(06:21):
So we have the similar setup here with our badges where we essentially want to break down what we want our team to be doing on a monthly basis into a weekly and daily achievements so they can look at this and see how they're progressing. You can also create leaderboards on these badges as well as you can streak on these badges, all these little game-like elements to get you to sit in your chair and do a little bit more than you would've if these weren't here. And as you can see with these badges, we have these coins here. So inside our system we have a coin currency. So you can achieve these coins by unlocking badges. You can achieve these coins by placing in competitions. You can essentially achieve these coins by doing the right type of behavior. And as you build up your coin purse, you can then go into a reward store and then you can purchase what you want at the end of the day. So again, kind of taking a step away from that same winner with the same prize to bring in the middle and bottom performers. What we see the value of our platform and gamification when deployed correctly is that you get that extra 20% out of that 80% chunk.
(07:34):
And lastly here, we have battles. So let's say you're super competitive, the competitions aren't enough for you. You've unlocked all your badges, but you want to compete a little bit more. That's where you can go into battles. So it's very similar to competitions, but battles is rep initiated. You can choose who you want to compete against and you can go battle them head to head and you can also wager your coins against each other. So right now I got an inbound battle request who can close the most deals and I'm going to accept that. So now I got a battle going on who can close the most deals before this time and winner gets 500 coins, you can get a little skin in the game
(08:33):
And everything we do like creating battles, competition badges, sales, we push that into the feed up on the big screen across mobile app and also iframes into your existing systems as well. So no matter where you are, we can bring you into this gamification atmosphere to get you engaged in what we're doing. So that was just a quick little overview of what we do here at sales screen. And if you want to learn more, please go over to a booth over there in the corner and we'll be happy to tell you guys more on how we work with other agencies and what effects they're getting. Thank you.
Stacey (09:16):
Excellent. Thank you, Remy. Good job, sir. All right, let's hear it for Remy and the folks at sales screen, they're here today. Be sure to stop by. All right, well keep things rolling along. The next demo is coming from Digital Owl who is also here somewhere. Oh, here they are. So Digital Owl is an AI powered medical summary that gives a 360 degree view of an individual's medical records. And here to present and to tell us more about it is Jim Sorrells, CPCU, Sales Director of the P&C Insurance vertical. And with him is Mackenna Tobey, an Account Executive. Come on to the stage guys, good luck sir.
Jim Sorrells, CPCU (10:10):
Thank you. Thank you, Stacey.
(10:14):
All right, thank you for having us. Just a little high level on Digital Owl. We've been in existence for about five years, still startup, working very hard to deliver impact into the business. And we're here to talk today about what we're doing. And MacKenna's going to walk through this demo with us as I kind of described it, but we have focused heavily on medical records and understanding and getting context from AI Power Solutions. Spent the first couple of years really solving for what is required to gain clear understanding. So what we're going to walk through today is an injury claim, and we focus on the injury records themselves. Everything that arrives, we can ingest, if it's a digital record, HRS, any of those things, we'll take it in and we'll interpret it. We'll pull the discovery out and identify all the PIERs, providers, facilities, conditions, the mentions of a condition, any of the different elements that exist in a record.
(11:12):
So what you're going to see here at the top in our overview, when we look at this case at the top, it describes what happened in this accident to the person like the injuries that preceded it. We have a loss state in December, and it anchors around that to say what happened before. In this case, it's a driver of a lift. He's had two prior back surgeries. And if you look at this, McKenna's going to click on one of the links. And as we go into one of these, it takes you immediately to the evidence of where that information is found. So a claim handler, a claim professional, or anybody that's an attorney, a paralegal that's looking at this record can help identify where the relevant information is. And as we look at this, this person had those two prior, two prior surgeries, but he had an accident thereafter and he's got another back injury.
(12:03):
So it becomes very relevant as to what was going on with this person before. Now he said he's a Lyft driver, and I'm going to go into a little bit the Lyft driver. This could be a work comp claim. So in work comp, the positioning or thinking around this claim is you still have to know what's happening with the person in their history and what's relevant of prior injuries because it could impact their recovery and the return to work. So we have to think of the use cases and the scenarios. And where McKenna's gone at the bottom of the screen is sometimes we have health history that's important, especially in work comp. We are also serving life underwriting and some of the analysis we do there when we review these records. And so all of these health indicators become relevant and the use cases that we serve.
(12:50):
Now, as we look onto the right hand side, we build out a chronology of all the events we start at the most current through the farthest away. And the reason we do that is most people want to understand kind of state of affairs from that generative summary we created and then look at a chronology that lets you walk back through history and say, okay, so once I've viewed where they've come from, I now know where they're headed. We can expand these and open 'em and look at the conditions and things that are most relevant to the person evaluating the claim to get a true picture of what's going on. So if we look at a couple of other things here, we create a timeline as well. And so as we look through timelines, this becomes important to all of our different users. They have different needs for a timeline.
(13:38):
And so for a claim handler on an injury claim, A-B-I-R-U-M or UIM type of loss, you may have a need to understand very relevant in the work comp. You need to know the progression. So this view allows you to set it up and tailor your timing that you want to look at, tailor the detail that you're going to show on the screen. We can do high level severity looks, there's toggles at the top for that. We can look at only conditions, we can look at only documents, we can look at only treatment. So it all depends upon what view you're trying to dissect this claim in. You have the opportunity to do it at a timeline level to really paint that picture out. Now if we progress on into this, the next step up is all these different call it disorders, the cases that are here.
(14:29):
And if we look at orthopedic, this is important. This individual had back surgeries two prior and ultimately had a third back surgery as a result of this accident. And it's important to understand what's going on with their medical conditions, all the different treatments, what are the most relevant. And so if it's you think of just kind of the stair step left to right on the screen, we move from the big categorization down into more details under each and every one of those of what we found in the records. This is all based upon, like I said, click to evidence, one or two clicks, you're back to the source record each time. But we provide the generative summaries to give you a picture of what's going on with this particular loss, this particular treatment or recovery, and also allow you to then toggle through the other elements that maybe are impeding their ability to heal properly or return to work or things of those kind.
(15:26):
So the perspective we're trying to provide is fact-based evidence linked and perform that deep level of analysis that exists inside of these records. Today we find that claim handlers are spending inordinate amounts of hours, reading reports, reading records, trying to make sense of what's there, and then they take notes. And so what we have solved for is to take away the reading of the record at that minutiae level and trying to look at multiple variations of the same type of report because everybody provides them differently, putting it in a standard format for them to see. And by doing that, it saves them about 70% of their review time. So the goodness of this is we have the ability to standardize it, we have the ability to provide evidence and we have the ability for them to research. Now there's also another couple of new functionalities that we have here, and this is chat at.
(16:24):
So if you think about chatting with a record, think of it as interrogating the medical. So all we're doing is looking at every single record that was provided to us. And if we ask a question because we need to know more, in this case we had a back injury. One of the curious questions of what might happen is, is there anything degenerative going on with this person? And so if McKenna asked that question in chat, this is going out into every one of those records and trying to find out were there anything conditions or mentions that were degenerative in nature? I'm assuming you could see that on the screen, but it came back with an answer. And with this answer, we have the links documents that if you click, they are going to display on the right. So you can now read where it came from, what it was saying, and then underneath of that there might be some more provoking questions to ask.
(17:19):
And we frame up some suggested questions based upon how people have investigated records in the past. And by doing that, it allows the adjuster to dig in quickly, go down to this route, you can throw in a new question anytime you want. This is extremely useful in assessing or evaluating cases, claims handlers use, call it round tables or executive team reviews where you're looking at a complex case or a high value case and questions like the surface and you can just type 'em right in and the chat will respond to 'em accordingly. The last couple of things that we have here, we do have a new functionality coming with workflows and it's going through an upgrade right now. So we're not going to demo that today. We'll do that if you're interested. We can talk through that at a future time. But we have another area in here that when we look at that gives you the opportunity to look at the different conditions.
(18:15):
It allows you to go in and take a look at the things specifically at the injury level. What are the conditions affecting the person and how would they be reacting? And again, the same moving left to right to progress into details. If we click on any one in the dropdowns on the right, you're going to find that it gives you a slight limited text, some summary information to review. You still get to click to the source document. So everything that we're doing is tying back to a source record, tying back to evidence so that you can prove when you're evaluating a case that it's fact-based. It's got a link to reality. The only kind of elements that we bring to the table that's additional to the records that we append to a data that we bring in. We append NPI data for medical providers so that you can track back to who the person is.
(19:06):
We also do append some medical dictionary definitions. If somebody wants to know what the spondylosis was on that first click that we did or in chat that showed up, it'll tell you medically what the definition is for spondylosis. Those are just useful tools. But other than that, we're basing it solely on the record. So the capabilities are extensible at this point through those injury claims, through workers' comp. It can be carriers, it can be TPAs, and it can be your self-insured. So we're here for the rest of the conference. McKenna and I will both be here. We're seated right back here by the specialty coffee booth. So thank you for your time today, we really appreciate it.
Stacey (19:53):
Great job, Jim. Thank you very much also to McKenna. Well done. I'm just curious, how many people in the room here today work with medical claims? Is there anybody? Alright, cool. Well, I think their technology was amazing. And up next for us is going to be first Orion. And First Orion is a digital platform that allows companies to customize the display text on your phone. And that's hugely helpful for a lot of reasons. And I won't steal the thunder away from Clark and Sherry. They're going to tell us all about it. But I'd like to introduce Clark Wooten, who's the Industry Insurance Industry Lader for First Orion and Sherry Patton who will be helping, she's the Senior Sales Executive. So are you guys ready to go?
Clark Wooten (20:45):
I think we are.
Stacey (20:45):
Alright, excellent.
Clark Wooten (20:47):
Take it away. Thank you. So nothing commands attention like a phone call. Whenever your phone rings, you snap to attention immediately. You want to know who's calling and why they're calling. And people talk to their insurance companies for a variety of reasons, either for reporting a claim or perhaps adding a vehicle to their policy. For general matters, most people feel like email is perfectly acceptable, but for critical and urgent matters, the phone call is still preferred over twice as much as any other option. We were once able to trust that phone call, but because of scam calls, the phone has become a bad experience. First Orion surveyed over 5,000 mobile phone subscribers about their communication experience with their financial services provider, and over half said that they had received a scam or a fraud call from someone posing as their bank or insurance company.
(21:42):
87% of people just don't answer calls anymore for unknown numbers. So how do you reach your customers when they are scared to answer their phones? You do that by restoring trust in the entire calling experience through first Orion's branded calling solutions that enable a business to control how their name appears on every outbound call placed to a consumer. If whenever you reach your customer, our informed branded calling solution puts your business name and even your logo right on the phone screen right at the time of the call. So there's no question who's calling customers want and they deserve this kind of experience and branded communication delivers it. So I'd like to spend a few minutes talking through our product and Sherry's going to do that through access to our website, which is a very simple way to look at how we do this branded calling Sherry.
Sherry Patton (22:41):
So on our website@firstorion.com, you have the ability to scroll down to the middle, and what we want to do is give you a very simplified version of what our customer portal allows you to do. So here you would go in and type your name of your business, let's say your insurance company. And let's say the phone number that you're calling from is 805 5 5 0 1 1 1. And then the reason for your call. Now I think we all have experience with claims processing or support. So let's do that. And since we're in beautiful Boca Raton, let's say that we're there calling from Boca Raton and Florida.
(23:33):
And then when you set that up in the system, essentially it gives you examples. Here we've got a mockup of what the differences are. So the first example here without first Orion is the standard phone call that we've all experienced. Now I know that as a consumer, we've all been conditioned to ignore these calls. I know I do. We're not answering them right. It's unfortunate that those calls are just not going to get engaged. And so if you guys are calling from numbers that are not clearly identifying the name of your business and the purpose of your call, there's a very good likelihood that you're not going to be getting that engagement on those attempts. A lot of times it could take up to seven or eight attempts to get that engagement. That's extremely inefficient. It's a loss of money, revenue, and time over to the far right is an example of the inform text display.
(24:29):
Now this takes a really uneventful experience with the telephone call to something that is much more dynamic. It's the phone number, it's the name of your business and the purpose of your call so that you can get that engagement. And we've seen clients that have seen engagement improve by sometimes 50% or more depending on the purpose of the call or the situation and use case that they're leveraging. And then in the middle is great example of really heightened experience where we can leverage the name of your business and even a full color logo. So you are developing or instilling that trust and transparency with each of those engagement points. That is becoming an expectation. It's a customer experience expectation, it's table stakes. And so it's a very low lift, low cost way to invest in often undervalued or underutilized channel that consumers have come to expect. And then beyond just the ability to make the experience better, it's also giving you access and visibility to call disposition metrics that are behind the scenes that can help your business better understand ways to optimize that experience and learn from it and drive more return on investment as well.
(25:55):
So let me turn it back over to Clark.
Clark Wooten (25:57):
So we're here, right to your right. And so we'd love to talk to you about our informed branded calling solution and then other capabilities that we have to block spoof or spam calls and talk to you about our customer portal and how we enable this for your business. So thanks for your time today,
Stacey (26:20):
Yes. Thank you Clark, and thank you Sherry. Well, that concludes our demos. Oh wait, what was that? Something about Best for Last. Oh, okay. That's right, Tom. So up next is Data Crest, their flagship product app Ease automates data extraction for supplemental applications, and this increases efficiency in processing submissions. So here to tell us more about Data Crest and about App Ease is the company's President and Founder, Tom Young. Yeah.
Tom Young (26:54):
Cool. Thanks. Appreciate it buddy. Good time. Yeah, good seeing. Hey everybody, thanks for having me dig in. Appreciate it and good to be down here in Boca. So just wanted to start with a little background. I founded the company about four years ago. Most recently was a producer at Lockton Global Brokerage. And then previous to that had my own agency sold that, and then I was an underwriter at a couple of different MGAs doing captives for them. So what we like myself and others at the company like to say is we have actual insurance experience that helps us differentiate between a lot of other insurtechs out there and really providing practical solutions. What we see out there is a lot of really high pollutant ideas and everybody's got AI. Yeah, do we use AI? Sure, yes, we do. But what really matters, getting deals done, making that underwriter more knowledgeable to be giving quicker decisions and making that agent or broker's life easier.
(28:01):
So if you can make the broker's life easier, they're going to give you more business. It's pretty simple. They don't care about your data lake, they don't care about your schema on your data structure. They don't care. They care about getting the quote quickly and getting the best premium for them to retain or write business. That's what matters, right? So that's really what our enhancements address is making you the best market. So our clients are MGAs and carriers. And why do agents brokers give you business? Because you make their life easier. So that's really where we concentrate and we work within existing workflows of the systems that your underwriters or sales reps are working with. Another thing that people practically do not appreciate is signing into a new system. So we avoid your internal folks and your external trading partners for signing into a new system.
(29:08):
So just high level, that's how we work to make submissions, submission's easier, applications easier, ingesting the data that you get into submission via email easier. So I started the company around supplemental applications. So the extent people in the room are using supplemental applications or they're getting a court applications or they're getting schedules of insurance, or you're getting claims data via email. That's what we do down to the insured level to make that application easier for the insured to complete on a renewal. Particularly they're writing a hotel and they get a 15 page supplemental application. 40% of that does not apply to them. Why are they completing that every year? That's where we started around supplemental applications to make that process a lot easier. So they might be doing a supplemental for property for management liability for E and o, whatever that practice is or program that you might have.
(30:10):
That application is long and it's 15 pages. They're completing it every year. How can we make that experience better for the insured and the agent? Because oftentimes the agent is completing that on behalf of their insured, which is a big e and o exposure for the agency. And you as an underwriter are getting old or erroneous data. So how can we make that process easier for the insured and the agent? And then if they're sending in a competitor's application to you, how do you extract the data from that competitor's application and put it into your format and your underwriting system? And then also bringing in third party data to either eliminate some of the questions that are on that application. Why do we asking it we already know or validating data because sometimes people put things that aren't true on the application. So how can we validate whether or not that data is correct, right?
(31:05):
So think of us around applications, making the application process a lot easier. And then when your underwriter gets a submission, how do you get the data from that submission into your underwriting application quicker again without having multiple systems for them to sign onto and then taking that data and doing more with that data. So if you think of a e and o program that you're transportation program or workers' comp or whatever it is, these underwriting firms, whether that's an MGA or a carrier, are sitting on vast amounts of data. So we're taking that data and aggregating it and determining the trends within the application or submission data and claims outcome. So when these applications come in, it's typically the richest data set that underwriters get, and it comes in as a PDF document, underwriter looks at it, one-on-one subjective eyes, it goes into a file never to be seen again.
(32:06):
Well, if you have a thousand insureds in a program and there's 10 pages per application, there's 10,000 pages worth of data times however many renewals that you might have, and that goes away and never to be seen. So we're taking that data aggregating and comparing it with claims outcomes. So when that new submission comes in, that next submission comes in, you can say, Hey, if they say yes to question 13, 15, and 22, they're more likely to have a claim. Well, right now, you can't make that determination. A human can't make that determination. So as that submission comes in, it's submission prioritization, Hey, this is your better risk. You should work on this one first. And then additionally, what can this submission data tell us compared to our existing book of business? And then thirdly, what other data can I pull off of the internet that the underwriter is going through through their regular course of underwriting?
(32:59):
Hey, I'm underwriting a hotel. I look at Yelp reviews, I look at Facebook for specials. I look at Google Maps for an aerial view of the roof, giving them all that data in one succinct screen so they can work on a file instead of doing administrative tasks and going through five different websites that they go down a rabbit hole on because they're checking their Facebook messages. So we're collecting all that data and giving it to an underwriter in a succinct format, as well as making the agents and brokers life easier on the front end for them to want to give you more business. I am placing more business with this firm because they make my life easier, which is really what they're concerned about. Furthermore, deploying customized loss control and remediation plans based upon the applications rather than a very bland, vanilla type of program.
(33:52):
Hey, welcome to x, Y, Z carrier or MGA. Here's 150 loss control and risk management documents. Nobody does anything with it. That's the reality, right? What we're deploying is based upon your application and your claims history, here's the five things that you need to work on. And if you do that, you're going to get a credit on renewal. So taking that data, using it for underwriting, using it for quote, buying issue platforms and using it for decision making, and then also deploying customized loss control. So that's all I got. I appreciate everybody's time. I'm going to be under time, which I think is probably a good thing as we're at the end of this. So I'll be hanging around if they really like to talk and talk about some practical solutions to make you more attractive in the marketplace. That's the kind of KPIs that we're delivering for our clients. Thanks a lot.
Stacey (34:47):
Excellent. Very well done. Tom. Sorry we almost forgot you. Yeah, no problem. I didn't need to show my video. No, that concludes this morning's sessions. There will be more demos this afternoon. My good friend, where is he? He is in the room. He'll be up here on the stage. Oh, there he is. Way in the back. Hey, he'll be up here this afternoon and we'll get to meet more companies. But in meanwhile, enjoy the rest of the show and I'll be here.
Demos & Shared Insights - SalesScreen | DigitalOwl | FirstOrion | Datacrest
July 26, 2024 11:59 AM
35:25