Technology: A Way to Increase Sales and Efficiency

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August 23, 2011

1


Technology:

A Way to Increase Sales and Efficiency


Presented by:

Nick Newton, Rudnik Surety, Inc.

Debbie Burton, Wells Fargo Insurance Services USA, Inc.

August 23, 2011

2

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PRESENTER BIOGRAPHY



Nick Newton is Vice President at Rudnik Surety, Inc.
in Minneapolis, MN.





Joined Rudnik Surety, Inc. in July, 2011





President of the Minnesota Surety Association in 1995
-

1996





Served for 10 years on the Board of Directors of the MN

Association for Guardianship & Conservatorship, the last

4 as President





Chair of the NASBP Automation and Technology

Committee, and serves on the Commercial Surety,

Ethics, Small and Emerging Business, and Region 5

Steering Committees





Serves on the Steering Committee for Insurance

Automation Group’s Erlon surety product.

August 23, 2011

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3

PRESENTER BIOGRAPHY



Deborah L. Burton is Assistant Vice President,
Surety at Wells Fargo Insurance Services USA, Inc.
in Louisville, KY.





Joined Wells Fargo Insurance Services of Kentucky in

November, 2004





Managed surety programs for several national companies





Co
-
Chair of the NASBP Automation and Technology

Committee





Serves on the Wells Fargo Technology Committee,

Liberty Mutual Insurance Company Automation Producer

Council, and Travelers B2B Pilot
Program

August 23, 2011

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Technology:

According to Dilbert

August 23, 2011

Agency Technology Chronology

(The Past)


Technology Past


Cell phone carried in a bag in your car


Typewriters


Carbon copy forms


MILES of file cabinets


Computer took up half a desk (or more!)


Birth of the fax


August 23, 2011

Agency Technology Chronology

(The Present)

Technology Today


Office is carried in your pocket


Phone, voicemail, email, fax routed to your
phone


Hands
-
free capability while driving


GPS


Portable devices including smartphones,
tablets, and laptops provide remote access to
your office network


Scanning files, development of PDF format


August 23, 2011

Agency Use of Technology


Common Goal


To increase efficiency and
productivity as a means of increasing
sales and the rate of return on
revenue.

August 23, 2011

Surety Based System


Allow internet access to registered
agents for bond submission/approval
and issuance



Play a role in most agencies, large or
small, and have made a significant
impact on the efficiency and
productivity of those agencies

August 23, 2011

Vendor Based System


Used by a majority of brokers, no matter
what size of operation


Client access is a great selling point for
both existing and prospective clients


Off
-
site access to all features


“one stop”
for many important documents


Client access to their surety database can
be customized to capture data the client
wants to track in their bond program

August 23, 2011

Vendor Based System

(Continued)


Agencies can decrease their carbon footprint and
“go green”



Process a bond, upload requests/approvals,
contracts, applications, etc. to the record can
virtually do away with the age
-
old paper file.



Reducing resources means reducing cost (filing
space, paper, printers/toners) and provides a
more organized and searchable archive



Try it, you’ll like it!

August 23, 2011

Agency Developed Systems


Several large, national brokers have
developed broker
-
specific systems
that may allow for the same type of
informational flow between the
broker
-
surety
-
client as available in
the vendor
-
based systems.

August 23, 2011

Marketing Advantages:

Contract Surety


Trend: Electronic bidding is a key example
of being able to provide the right
technology to the client that can give an
agent/broker a key advantage



Less touches in the electronic bid process
results in more accurate and efficient data



With estimators, project managers, etc. in
the field, technology provides them the
means to handle their surety issues via
mobile device.

August 23, 2011

Marketing Advantages:

Commercial Surety


Data access is a key factor for clients,
especially those with large and complex
surety programs



Some allow client to monitor their
program, obtain customized/detailed
reports



Offering client access to data can be a
great advantage to the agent/broker

August 23, 2011

Benefits of Technology


Increase productivity


Increase efficiency/accuracy


Decrease the use of resources
(paperless trend)


Faster, efficient processing while
tracking results and revenue


Surety markets inquiring more about
agency systems (especially in
managing large programs)

August 23, 2011

Current Trends


Business to Business (B2B) capabilities


real
time reporting with the surety



ACORD Initiative

August 23, 2011

Use Cases


Smart phones


Paperless transactions


Working from ANYWHERE


Reduced cost of maintaining office


August 23, 2011

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Conclusion


Technology is in constant motion



Change is always difficult



Ever
-
changing industry tools are available today



Creating a better, timely informational flow of
data increases our value and strengthens
relationships


August 23, 2011

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Technology: A Way to Increase Sales and Efficiency


Thank you!

Questions?



If you do not have the opportunity to have your question addressed during
the Seminar, you may contact the presenter directly:

Nick Newton

Rudnik Surety, Inc.

Nick@rudniksurety.com

Debbie Burton

Wells Fargo Insurance Services USA, Inc.

Deborah.Burton@wellsfargo.com

August 23, 2011

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NASBP Producer’s Tool Kit



Bank / Credit Reference Form


Bid Bond Request Form


Contract Bond Request Form


Contractor Questionnaire


Credit Report Authorization and Privacy Disclosure Form


Financial Statement Analysis


Performance and Payment Bond Request Form


Personal Financial Statement


Service/Supply Contractor Questionnaire


Status Inquiry Form


Work in Progress (Detailed)


Work in Progress (Simple)


All Forms (Compressed ZIP file)

The NASBP Producers Tool Kit contains templates for frequently used
forms. Each form allows the agency to brand it using their agency
logo and contact information. The form fields can be edited, printed,
or saved electronically.
nasbp.org/toolkit


August 23, 2011

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NASBP SuretyConnect

Through
SuretyConnect

you can:





Interact with NASBP members, affiliates, and associates using the NASBP


“General” eGroup Discussions





Create enhanced profiles for your agency and yourself





“Connect” with industry peers





Find content quickly and easily using the NASBP Knowledge Base





Conduct committee business with committee members using a discussion


area, file library, and other SuretyConnect resources





Learn about the latest professional development opportunities

August 23, 2011

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Social Media

People on Facebook


More than 500 million active users


50% of active users log on to Facebook in any given day


Average user has 130 friends


People spend over 700 billion minutes per month on Facebook


Activity on Facebook


There are over 900 million objects that people interact with (pages, groups, events and community pages)


Average user is connected to 80 community pages, groups and events


Average user creates 90 pieces of content each month


More than 30 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.)
shared each month.


LinkedIn Member Data


101 million members worldwide as of January, 2011


Over 1 million company pages


Industries: 16% High Tech, 13.3% Finance, 9.5% Manufacturing, 8.5% Medical, 8.3% Corporate, 7.4%
Educational, 6.7% Consumer Goods, 5.4% Recreational, 4.4% Construction, 3.7% Government


LinkedIn is used by 69 of the Fortune 100 companies


Sources:


http://www.facebook.com/press/info.php?statistics



http://www.slideshare.net/amover/linked
-
in
-
demographics
-
and
-
statistics
-
2011

August 23, 2011

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2011 IT Survey

In this third edition, the 2011 survey compares results with previous
IT surveys and discovers trends among NASBP member respondents.


The following survey results provide valuable insight into the
technology and business practices of NASBP members.


The survey results address:





IT spending




agency management system usage




bond production system usage




mobile devices




social media




email encryption




and more…

August 23, 2011

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Resources for NASBP Members,
Affiliates, and Associates


NASBP Producer’s Tool Kit

http://www.nasbp.org/toolkit


NASBP SuretyConnect

http://www.nasbp.org/help


NASBP Automation and Technology Committee

(see next slide)



August 23, 2011

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24

NASBP Automation and
Technology Committee


Committee meets every three weeks


WebEx


Google Groups


SuretyConnect



For more details or if you are an NASBP member and
are interested in joining the committee, contact Dave
Golden at
dgolden@nasbp.org
.

August 23, 2011

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25

IT Productivity
-
Related Articles


The Value of Agency Integration: Best Practices for the Insurance Industry

http://www.cgn.net/pdf/Blackwell%20Global%20Agency%20Integration%20Executive%20Briefing_The%20Value%20of%20A
gency%20Integration.pdf



Information Technology Increases Competitive Advantage


Top 3 Reasons

http://hubpages.com/hub/Information
-
Technology
-
Increases
-
Competitive
-
Advantage




How Can Information Technology Improve Productivity?

http://www.ehow.com/way_5335891_can
-
information
-
technology
-
improve
-
productivity.html




Improving Productivity with Online Web Collaboration

http://www.freearticlesinc.com/view_article
-
id
-
50994
-
at
-
Improving
-
Productivity
-
with
-
Online
-
Web
-
Collaboration.html



Small Businesses Using Social Media, Wireless More Than Ever

http://smallbusiness.foxbusiness.com/technology
-
web/2011/03/15/small
-
business
-
social
-
media
-
wireless
-
technology/



Is Technology Replacing Business Travel?

http://www.andrewjensen.net/is
-
technology
-
replacing
-
business
-
travel/




How Businesses Can Save Money With Cloud Services

http://ezinearticles.com/?How
-
Businesses
-
Can
-
Save
-
Money
-
With
-
Cloud
-
Services&id=6437546





August 23, 2011

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Other IT Resources


NASBP IT Survey

http://www.nasbp.org/itsurvey


NASBP IT Show and Tell

http://www.nasbp.org/ITShowAndTell


LinkedIn

http://www.linkedin.com


Facebook

http://www.facebook.com