Vlocity Delivers Agile Insurance Quoting

SAN FRANCISCO, CA–(Marketwired – Dec 6, 2017) – Vlocity, Inc., a leading industry cloud software company, today announced the release of Vlocity Digital Quote, Rate & Apply. With the new solution, insurance carriers can configure a modern end-to-end new business process for property and casualty, life, health and specialty products that can be used by consumers, agents and brokers on any device. Designed to replace the fragmented and often hard-coded processes that many carriers rely on to generate quotes and applications today, Vlocity Digital Quote, Rate & Apply returns control to the business, enabling them to launch new products and craft omni-channel digital experiences without legacy system impediments.

Built on the Salesforce Platform, Vlocity Digital Quote, Rate & Apply enables insurance carriers to create dynamic needs analysis flows; present product options and make recommendations; look up factors and rates using matrices from uploaded csv files; and calculate premiums using sequential algorithms. Additional features include:

• Unique product modeling capabilities that enable the ability to build custom packages of coverages into product bundles
• Intelligent algorithms that provide suggestions for riders and endorsements
• Product applications that can be configured with reflexive questions
• Document generation capabilities that include integration with DocuSign

These processes can be designed with a drag and drop user interface and may also be integrated with third-party systems and big data sources.

“The quoting experience is often the prospective customer’s first interaction with a firm, and the majority of those interactions are now happening in digital channels,” said Raja Singh, senior vice president and general manager of Vlocity Insurance. “Vlocity’s omni-channel capabilities, supported by agile rating, product and document capabilities, enable our customers to continually improve this important mission critical process through configuration, not custom development.”

Vlocity’s Quote, Rate & Apply solution is part of a suite of insurance applications that power business processes for agents, brokers, channel managers, customer service representatives, and customers on top of the Salesforce Platform. Carriers can leverage the world’s leading CRM functionality and the most trusted cloud platform to deliver industry-specific transactions like quoting a policy, changing a beneficiary, or setting up a payment plan.

“Vlocity Insurance extends the Salesforce Platform to meet the unique requirements of our insurance customers,” said Rohit Mahna, senior vice president and general manager of Financial Services, Salesforce. “With the quoting and rating processes from Vlocity, insurance companies can now streamline the customer’s entire ‘new business’ journey on Salesforce – from campaign, to lead, opportunity, quote and issue.”

To learn more about Vlocity Insurance, or to request a product demo, please contact [email protected]. Vlocity Insurance will also be at the Salesforce World Tour in New York City on December 14: http://go.vlocity.com/SFWT2017

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Vlocity Insurance and Financial Services apps are a modern, enterprise-scale suite of omnichannel solutions which power business processes for producers, brokers, channel managers, contact centers, and consumers on top of the Salesforce Platform. Designed for Property and Casualty, Life and Annuities, Employee Benefits, and Specialty Lines of business, Vlocity provides guided, digital interfaces for processes across the customer journey, including quoting and applications, service, account management, renewals and claims. These processes can be configured without code and deployed to any device or channel and integrate seamlessly with back-office and third-party systems. Vlocity is a member of ACORD. For more information on Vlocity Insurance, visit https://vlocity.com/industries/insurance.

About Vlocity, Inc.
Vlocity, a Forbes Cloud 100 company and strategic Salesforce ISV, delivers industry-specific cloud and mobile software that embed digital, omnichannel processes for customer-centric industries. Built in partnership with Salesforce, the global leader in CRM, Vlocity is one of Salesforce’s fastest growing partners. Vlocity Industry Cloud Apps embed industry-specific functionality, best practices and business processes for the Communications & Media, Insurance & Financial Services, Health Insurance, Energy and Public Sector industries. Vlocity enables companies to achieve faster business agility and time to value from the cloud across digital and traditional channels. Learn more at www.vlocity.com and follow us at @vlocity.