Palm

Search

  • palmOne™ Handheld Technology Improves Customer Satisfaction and Agent Productivity at New York Life

    palmOne handheld-powered technology mobilises insurance industry, reducing costs, improving service and increasing sales.

    With more than 40,000 insurance agents competing in Hong Kong, it is essential for insurance companies to develop smart strategies to differentiate themselves and to stand out in the market.

    New York Life Insurance Worldwide Ltd. believes successful customer relationship management and effective management systems are vital to the insurance business, which is essentially a people business. The objective is to take care of the needs of each individual customer, personally and efficiently.

    To realise productivity and efficiency enhancements in providing customer services, New York Life has rolled out a program that allows their financial consultants to provide superior customer service and achieve optimum customer relationship management through the use of innovative technology in their day-to-day business operations.

    The "All-in-One Handheld Solution" for palmOne™ handhelds is now being used by more than 70 percent of New York Life's 1,100-strong agent workforce in Hong Kong, to provide quick access to the most updated information on customers and various insurance plans. In what's considered to be one of the largest handheld deployments in the insurance industry in Hong Kong, New York Life's agents already are showing substantial improvements in efficiency, productivity and customer service. The solution is revolutionising the way agents work by allowing them to connect to the corporate server and download the latest information and data to their palmOne handhelds. This allows agents to read or check information while on the move.

    The challenge faced by mobile insurance agents is to be able to quickly and efficiently satisfy customer queries. To do this, they need fast access to client policy information and payment status, as well as customised insurance calculator, scheduling and activity management functionality. The solution developed by New York Life allows agents to access more than 900 documents of information, such as underwriting guidelines, lists of doctors and rate books, as well as to access client and policy information. What's more, agents can perform sophisticated insurance calculations and activity management on their palmOne handhelds while out in the field visiting clients.

  • Read the story.
    (PDF: 116 KB / 2 pages)

  • "My clients often call to enquire on the performance of their funds. With my Tungsten™ E handheld, I can now access the information they need instantly, rather than having to make them wait as I check with the office. I really appreciate having this solution as it not only makes my day so much easier, but it also allows me to give the best service possible to my clients."


    Vivian Li
    Business Director of New York Life

    Facing the Challenge
    "Previously, our back-office staff had to laboriously prepare and print hard copies of the latest documents for agents to take out on the road. This was extremely time-consuming and could take up to a day in preparation time. Now administrators can upload all necessary documents to the corporate server in less than an hour and the agents can download and store the documents directly via their palmOne handhelds," said Tony Shen, vice president of Information Technology of New York Life.

    Presenting a Solution
    Over the years, New York Life has continued to work toward the brand promise of "making customers' lives easier". Besides enhancing the quality of its products and services, New York Life also has launched a number of initiatives, including the "All-in-One Handheld Solution", to deliver higher-quality and more efficient service to its agents and customers.

    The "All-in-One Handheld Solution" was designed specifically for the insurance and customer service industry by providing a simple, fast and accurate way of accessing client policy information and payment status as well as a customised insurance calculator, scheduling and activity management functionality.

    Vivian Li, business director of New York Life, added, "My clients often call to enquire on the performance of their funds. With my Tungsten™ E handheld, I can now access the information they need instantly, rather than having to make them wait as I check with the office. I really appreciate having this solution as it not only makes my day so much easier, but it also allows me to give the best service possible to my clients."

    "The way I work has completely changed since the introduction of the All-in-One Handheld Solution. Now, I can check client information and new corporate policies whilst commuting - something I could only dream of doing when I started at New York Life more than 10 years ago," said Mooney Ngai, sales manager of New York Life.

    New York Life agents also can use their palmOne handhelds to perform real-time premium calculations for customers on the spot, eliminating unnecessary waiting time. The solution also includes a date reminder function that helps agents remember the important dates of their clients, as well as a Knowledge Base that contains 900 documents of insurance-related information, such as underwriting guidelines, lists of doctors, and rate books -- some of which come with Chinese-language explanations.

    "palmOne handhelds were the obvious choice for this solution as they are easy to use, compact and the most robust handhelds in the industry with superior battery performance," Shen explained.

    Producing Results
    Ultimately, the success of this solution lies in its ability to produce fast results.

    "In the old days, agents normally needed one working day to retrieve client data after calling customer service, but now it is directly accessible from their handhelds, which include a search function that can be performed in a matter of seconds. This allows our agents to spend more productive time with their clients. And of course our customers are pleased as it means a much faster service turnaround," said Mr. Anthony Mak, chief marketing officer of New York Life.

    Within months of implementation, New York Life has recorded an increase in productivity with the rollout of the solution. "What used to take us several hours per week on paperwork, like searching for policy documents, now takes only five minutes," said Mr. Mak.

    Here, the "All-in-One Handheld Solution" boasts an array of impressive advantages:

    • Reduced running costs - Cost reductions in paper-based materials and storage issues.
    • Improved efficiency- Financial consultants are able to spend more time with the clients and less time running back and forth from the agency.
    • Increased sales and up-selling - With all the policies at their fingertips, together with detailed descriptions, financial consultants can up-sell better.
    • Expedite business transactionstransactions - Financial consultants are armed with the appropriate tools to answer and address their customers' questions and concerns, eliminating unnecessary wait time and expediting the close of a customer transaction.
    • Light mobility - At 131g, the Tungsten E is an indispensable and valuable asset to the financial consultant on the go.

    About New York Life Insurance Worldwide Ltd.
    Established in Hong Kong in 1988, New York Life Insurance Worldwide Ltd. is a wholly owned subsidiary of New York Life International, LLC, the international arm of the New York Life Insurance Company, the largest mutual life insurance company in the United States. The group has 160 years of experience in providing reliable, quality insurance service for customers around the world. New York Life International currently has operations in Argentina, Hong Kong, India, Mexico, the Philippines, South Korea, Taiwan, Thailand and in the cities of Shanghai and Chengdu in the People's Republic of China. It currently has a professional agency force of around 1,000 people in Hong Kong.

    For more information about New York Life Insurance Worldwide, please visit http://www.newyorklife.com.hk.

    About palmOne, Inc.
    palmOne, Inc. -- a leader in handheld computing and communications solutions -- strives to put the power of computing in people's hands so they can access and share their most important information. The company's products include LifeDrive™ mobile manager, Zire™ and Tungsten™ handhelds and Treo™ smartphones, software and accessories. palmOne products are sold through select Internet, retail, reseller and wireless operator partners throughout the world.

    More information about palmOne, Inc. is available at http://www.palm.com.