“MigdalCONNECT“ is a hand-held, people-focused, mobile insuretech platform that unleashes the power of human capital by delivering timely, customer-specific business intelligence combined with BOLD motivating dashboards that drive workforce achievement by transparently displaying how employees/agents are tracking to their goals and resultant commission incentives and tier awards. This information, combined with sales promotions, leads, workflow automation, and more, is now available near-instantaneously on the road, in the office, after-hours, resulting in increased workforce productivity as well as quicker customer responsiveness. Beyond “just” saving time once wasted hunting-and-pecking for this information, it is delivered in focused “bursts” that can be actioned/delegated more granularly and efficiently. The platform we developed without needing any consultants is so scaleable we’ve already applied different tiers of it to: 1) direct sales, 2) our external partner agents, and 3) in-house supervisors monitoring compliance & performance. Each of these tiers is further being scaled up with additional features planned for release and a growing user base.
Our BOLD new tool resulted in a breath-taking positive impact: time-to-value was near instantaneous:
- Instant ability for agents to service their end-customers on-the-go, including cases where an agent elects to respond to a client request after hours, from the convenience of their phones – augmenting productivity & delighting customers with quicker access to benefits
- Consequently, greater flexibility for our workforce in how it manages its own time
- Increased workforce motivation – things are not just faster & easier to-do, but with greater transparency to see how an individual’s efforts fit into their organization’s objectives – where an individual ranks, how many more leads can be followed, quota achieved and remaining by product / promotional offer
- Immediately augmented our company’s brand equity mong agents who’ve been “wowed” into perceiving us as a high-quality, leading-edge innovator
- Reduced errors, wait times, turnaround times
- Improved compliance – standards are enforced, supervisors have a new tool to monitor and coach their workforce into continuous process improvement
Real-Time Availability – Empowering Agents:
At the core of MigdalCONNECT is the commitment to real-time availability and all in the palm of your hand – a crucial market differentiator. The initiative ensures that insurance agents can provide customers with essential information 24/7. The hand-held technology solution, MigdalCONNECT, delivers a 360-degree view of customers and facilitates the issuance and receipt of common documents. This accessibility empowers agents, putting the power literally at their fingertips, irrespective of their location.
Streamlined and Transparent Processes:
MigdalCONNECT aims to seamlessly integrate crucial information into client interactions. It allows agents to drive their own work processes and those of their internal support team. This is especially important when agents are on the move or engaged in meetings, ensuring that significant tasks are visible and can be handled promptly, whether by Migdal or the agent’s back-office support team. The result is an advantage termed the “Migdal Advantage” through instant and seamless task creation/tracking.
Workforce Motivation Via BOLDLY Attractive & Informative Dashboard:
The introduction of a boldly attractive, interactive dashboard in the palm of employees’ hands is a key element of MigdalCONNECT. This dashboard facilitates the visualization of the impact of actions and their alignment with organizational goals. The clean user interface focuses on the user’s tasks, leads, and promotions concerning customers, enhancing focus and driving productivity. The emphasis on making tasks electronic, reducing the need for printing, further contributes to a delightful experience for the workforce, with some aspects of “gamification” in the updated results shown on the screen – including “Top 10” performer standings, among other things.
Human Factors Driving Innovation:
MigdalCONNECT doesn’t just address technological needs but tackles the critical human factor on both client & workforce sides by addressing challenges like information overload and clunky processes head-on. Distilling essential data in a succinct, intuitive, and pleasant manner, MigdalCONNECT increases shortens reading time and improves productivity, profitability, and morale.
Scalability Challenges Overcome Through Technology Excellence:
MigdalCONNECT‘s choice of the IONIC platform reflects a commitment to simplicity and efficiency. The decision to opt for a web-based development approach using existing in-house skills resulted in a fast time-to-market, with the application going live in just three months. Overcoming the challenges posed by information overload and accurately capturing the user experience for different roles demonstrated a meticulous approach to technology implementation.
KPIs – Quantifiable Success Metrics:
MigdalCONNECT is not just a visionary initiative; it comes with quantifiable success metrics and key performance indicators. Together with agents, supervisors, and direct sales staff, visbly accessing the platform more flexibly – in terms of both time of day and location across the country – the following Key Performance Indicators (KPIs), provide tangible evidence of the initiative’s BOLD impact on improving our organization:
- Time Saved/Day = at least 40 minutes – The application saves computer time as well as their own time by optimizing their work.
- Increase in # of Staff Achieving Goals to Target: = approx 17% – This is the increased attainment in the # of both supervisors and agents who are meeting their sales goals.
- Ever-growing userbase, as per our more detailed attachment
Qualitative Business Benefits – Human Stories:
Agent testimonials reveal the real human factor of MigdalCONNECT, as captured by the following words of praise the project team received from its end-users:
- “Feeling more excited about the day ahead”
- “First thing I do in the morning is open the app”
- “Accessible and convenient”
- “Can check who are the leading agents in each product”
- “Targeting agents you might otherwise miss”
- “Focus on how to reach the goal – what do I lack in each product”
- “Mastering the products you are strong or weak in”
- “Targeting which of the agents need to invest more and for which product”
- “Expectation to see daily progress in an accessible tool instead of logging into all the systems & seeing if there was a production run.
For these reasons, we feel that MigdalCONNECT represents the BOLDEST FUTURE OF WORK, the BOLDEST INSURETECH, and the BOLDEST FINTECH, given that many of our company’s products are also financial investments, in their own right.