THE CASER SEGUROS AGENTS AND BROKERS MAGAZINE July 2014 | nยบ34
TRAINING 2.0
ENGLISH EDITION
Edited: Caser Agents and Brokers Business Avda. de Burgos, 109 28050 Madrid agentesycor redores@case r.es Legal Deposit: M 23250-2002
Editor
Ignacio Martín Sánchez-Bendito Director of the Agents and Brokers Business
Mediación Profesional. Futuro inmediato scheduled deadlines and automation of the withholding process in all branches. Increasing the ways in which payment is These more incognito trends and a few made and collected (card payments and others have led the Professional Intermediation payment by direct debit). sector to cross the Rubicon and launch a Strategic Intermediation Plan [“PEM” in Secondly, the Broker's Website. Spanish]. Caser has adopted the six Considerable investment in three key recommendations for insurance companies areas: set out in this plan, in keeping with our • Redesign of image and content. Despite a drop in its market share clear dedication to Intermediation and its • Introduction of new functions, such as compared to other distribution channels, it professional future. customer segmentation, cross-selling, still accounts for 40% of intermediated introduction of a customer and communication insurance premiums (60% in Non-life). In management tool, plus additional technical and other branches, it accounts for up to 80% and In this respect, our adaptation in terms of integration, connectivity and the Broker's contracting options. extensive distribution has been maintained: Website is one of our key distinctive • Technical improvements: compatibility with 5,000 brokers and 85,000 agents. features, guaranteeing better coordination new devices (iPad, Tablets, iPhones), extension with mediators in terms of communications, and management of session times. Customers know the difference between digitalisation and process efficiency. self-service products or commodities, in And thirdly, investments in updating our which the price variable will be fundamental, At this point on the 2013-2015 Caser integration system with brokerage agencies and other products where personalised and Strategic Plan, and as part of our system to enable interaction with the Company from specialist service is valued above all else; adaptation process, we have launched within the agency’s own IT applications. products that would be very hard to sell various lines of work designed to continue without the help of an agent or broker. In short, professional Intermediation is facing Professional intermediation holds a favourable improving digital transformation. In this respect, we are working towards three significant and rapid changes and Caser is building position within this latter group of products; key goals: its strategy around its own specific needs, making however, the ability to be truly competitive in optimal use of new technologies and the closeness this market depends on a significant Firstly, improvements in all operating of its technical, sales and operational teams. reorientation of key processes. and management processes, seeking Only the most flexible insurance companies which There has also been an increase in the Direct maximum simplification and automation in these areas, making operating flows are prepared to invest in new technology and Channel and in Bank-assurance, with the between the mediator and the company omnichannelization will be able to adapt to latter's market share falling due to growing as effective and comfortable as possible. tomorrow's market. This will require a change in telephone and internet sales. • Pricing and contracting process with corporate culture and a realignment of processes a single system for calculating quotes and towards the specific needs of each distribution Finally, in the midst of this rapid evolution, channel. reduced income is also leading to inevitable pricing for all our policies. changes on income statements. • Benefit process: Narrowing down or branching out? online information about the movements Segmentation and specialisation. that occur on benefit files and arranging Technological changes not just in for all types of files to be opened. terms of operations but also in the business model. Eradication of ineffective • Process of issuing portfolios and structures. Trends on the European withholdings: pre-portfolio issue before It should come as no surprise to anyone with even the slightest knowledge of the insurance sector that Intermediation is current facing some big changes within a still highly complex macroeconomic environment and with the stagnation of commercial activity, proving its resistance to the crisis.
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market and targeting those which are most difficult to spot.
“If you want different results, do things differently.” Albert Einstein
At the forefront
New challenges for the Public Pension System A number of the Public Pension System's major unbalances have been corrected after the last round of reforms (raising the age of retirement and a new formula for calculating pensions) but there are still many challenges to be addressed; such as finding a response to population aging. Moreover, further structural reforms can be expected that would convert the current system in one of defined contribution. Over the past five years, the Caser Pension Observatory has been analysing saving habits in Spain and collecting opinions throughout the country on its Social Security system and on current Government reforms. During this time, saving habits in Spain have changed in two significant respects, says Manuel Álvarez, Director of the Observatory; "there is a growing awareness, on the one hand, of the fact that pensions will be cut (although they won't completely disappear) and, on the other, of the benefits of a complementary Private Pension System". However, he adds, "this all clashes, in the short term, with the ongoing economic crisis that is limiting people’s ability to save for retirement and especially in a context of job uncertainty."
Perceived causes of the Social Security crisis (from 1 to 10) Falling birth rate
6.7
Increasing life expectancy
7
Early retirement
7.3
Immigration
5.4
Policy making-poor management
8.7
1
Distribution model
7.8
3
Pay-as-you-go vs. Pre-funded
7
4
Breakdown of opinions on the future of the public system (2012) It will improve 3.6% It will disappear 16.9% It will stay more or less then same 22.1%
Financial crisis
8.2
2
SOURCE: Caser Pension Observatory 2013 SAMPLE SIZE : 8,000 surveys M. OF ERROR: 1.1% for 95% confidence level
Pensions will be cut 57% SOURCE: Caser Pension Observatory 2013 SAMPLE SIZE: 8,000 surveys M. OF ERROR: 1.1% for 95% confidence level
After the last round of reforms, which raised the age of retirement and revised the formula used to calculate pensions, some of the major unbalances in the Public Pension System have been corrected. All things considered, for Álvarez, "the nature of the challenge presented by population aging means that the system will still need to be regular adjustments to offset increasing life expectancy with lower pensions". We can also expect to see, in his opinion, "further structural reforms that will convert the current system into a defined contribution system, in which each individual chooses when to retire and receives a pension equal to the final value of the contributions made".
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LESS POPULAR MEASURES Of all recent changes, raising the age of retirement to over 67 is the most, yet not the only, unpopular measure. Freezing pensions and increasing the minimum number of years required to receive a pension are also on the list. "In the end, Spaniards would prefer measures designed to boost population growth", explains Álvarez.
At the forefront Agreement with potential measures Ranking 2012
2012
Ranking 2010
Freezing pensions
3.8
Reducing pensions
3
Increase calculation period
4.2
5
Eliminate or reduce non-contributory pensions
4.3
4
Policy making poor management
3.8
Distribution model
6.7
2
2
Pay-as-you-go vs. Pre-funded
5.9
3
3
6.7
1
1
Financial crisis
4
5
different periods and covers: Life Risk (can be changed to short-time), Life Savings (for secure savings), Pension Plans and Provident Insurance Plans (designed for retirement) and also Insurance for Long-term Care or Reverse Mortgages".
THE ROLE OF EMPLOYERS The majority of Spaniards believe companies should play a more active role in retirement and, in turn, it seems that companies are aware of this need. "During the crisis this has not been a priority, but it will move up the business agenda as the economy begins to recover", confirms Álvarez. "The vast majority of Spaniards believe that greater benefits need to be linked to complementary company pension systems and a significant percentage would even be happy if this type of pension scheme was made compulsory", he adds.
What role should employers play in their employees’ retirement funds?s Compulsory by law
SOURCE: Caser Pension Observatory 2013 SAMPLE SIZE: 24,000 surveys M. OF ERROR: 0.6% for 95% confidence level
On the other hand, there is widespread concern about certain new concepts, such as the so-called "Sustainability factor"; a rather technical concept that requires "hours of teaching and applied thinking" to understand. According to the Caser Manager, it basically involves "accepting the fact that the population is aging and that the State cannot assume the growing cost of maintaining an increasing elderly population. All members of society should accept some responsibility for their own pensions by putting a little aside for when they retire".
2010
Voluntary plus incentivised
Absolute freedom
21.1%
21.1%
15.3%
43.5%
43.5%
46.4%
35.4%
35.4%
38.3%
2011
2012
PROMOTING SAVINGS It is more important now than ever to promote the habit of saving and there are two key tools for doing this: creating awareness about the need to have a complementary private pension and tax benefits. On the other hand, saving can also be encouraged through regular systematic contributions. "In Spain, we have Systematic Saving Plans ["PIAS" in Spanish] and we should learn from other countries where the tax benefits associated with products equivalent to our Individual Pension Plans ["PPIs" in Spanish] are linked to regular annual minimum contributions." In Spain, it is generally thought that saving is a rural concern and that people save more in the north than anywhere else. And, in fact, these assumptions are rather accurate. According to data from the Caser Pension Observatory, the Basque Country is the autonomous community with the highest level of savings not for geographical reasons, but "because for years the Basque government has been raising awareness amongst citizens and has also been supported by tax benefits". Oddly enough, the region with the second highest level of saving is neither rural nor in the north: The Canary Islands. In terms of Social Security, Caser offers solutions in all areas and for all needs. This means, according to Álvarez, "having social security-related products for both families and businesses. In addition, these products are designed for
Manuel Álvarez, Director of the Caser Pension Observatory
Our Brokers
Typical non Spanish, the Expatriate Network's most ambitious project They are neither celebrities or sport stars nor are they famous in any cultural circles. They are Typical non Spanish: remarkable people from our Expatriate Network who love Spain, enjoy a healthy lifestyle and use social networks on a daily basis.
Another target is to reinforce Web 2.0 communication within the Expatriate Network, introducing new ways of communicating and offering services.
The strategy will be launch in various phases: The first consists in generating a stream of positive messages about Caser Expatriate on social networks Caser has decided to increase the visibility and strength of its brand within by sponsoring four people who really expat communities in Spain. In addition, stand out in their communities and it also aims to attract more follows to its converting them into brand ambassadors. twitter account @caserexpat -which already has nearly 1,000 in just its first year. The aim is to convert followers into In the second phase, we will continue recruiting potential ambassadors customers by building a captive according to nationality, geographical audience who take note of the tweets location in Spain, age and hobbies. posted by Caser Expatriate and, as The plan is to create a group of 10 such, the products it sells. sponsored profiles from within the Expatriate community.
The first four ambassadors have already been selected: Fleur Van de Put, Catherine Gaa, Robert Nieuwland and Ali Meehan; one American, one English and two from the Netherlands, discovered on Twitter from amongst the profiles of expatriates who had expressed an interest in this community. For Caser, it was "love at first sight" and, without needing to sign any contracts, they all agreed to become Caser ambassadors in exchange for a helping hand with their hobbies or lifestyles.
A new half marathon with Fleur
The Expatriate Network's sales team has signed up to run another half marathon, this time the Villa de Madrid half marathon in Madrid, with our sponsored runner Fleur Van de Put (@runfleurrun). Rosa del Toro, a sports nutritionist and keen runner will also be joining the team. Support of this type of event is a clear sign of the Network's ongoing commitment to healthy living and daily exercise.
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/FX .FEJBUPS T 8FCTJUF SFEFTJHOFE BOE NPSF SFMJBCMF After several years of improving and updating functions on the Mediator's Website, the Agents and Brokers Business proposed a complete redesign of this application, being the main Broker management and communication tool. The main aim of this process can be broken down into three fundamental areas: image; creation and development of more simple yet more powerful functions; and greater stability and reliability.
Redesign
New image and greater ergonomics in the design Online support system with new technologies Merging of content and online office Simplification of processes
Maximising functionality
Cross-selling Customer segmentation Communication management system Customer-directed processes Use of customer management tool by brokers Self-training systems for brokers Reinforcing the benefit system
Technical Improvements
Compatibility with new devices iPad, Tablets, iPhones and others browsers.,
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Training
Intermediation Training: new resources to become even closer As part of its 2014 Action Plan, the Agents and Brokers Business has designed a comprehensive agent and broker training programme, in compliance with legal requirements and to strengthen the resources and knowledge needed to increase production. 2.0 Training is becoming increasing important in this respect.
Caser’s comprehensive Network training programme, one of the measure introduced under the Strategic Plan, ensures that we are always one step ahead. This year’s programme has three key targets: Firstly, to comply with all legal requirements, in terms of both initial and ongoing training for company agents. Secondly, to offer more effective training tailored to the individual objectives and needs of our brokers and with a dual focus on both increasing production and reducing training costs. Thirdly, to bring this training closer to the Network by providing Territorial Departments with the resources and supports required to deliver this training. Three key milestones have been established: reaching as many mediators as possible; making training activities as flexible as possible; and aligning them with the individual
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targets of each Territorial Department. THE ROLE OF THE TERRITORIAL DEPARTMENT Network training will be delivered by employees at each Territorial Department. "Trainers" will be chosen from amongst our sales, technical and administrative staff with specialist knowledge in a certain area or of certain products. These individuals will be trained to deliver this training to Brokers in their respective territories. All the teaching material needed to perform these training activities will be supplied. This training will cover key features of our products, how they work and how to sell them, at two different levels: basic and advanced. With regard to teaching supports, access will be provided via the Broker's Website to presentations, product manuals, and user and operating guides.
The training programme is one of the new measures launched under the Strategic Plan 2.0 TRAINING In addition, in response to the development of new technologies and their application to teaching, Caser has also designed an ambitious 2.0 Training project within the Agents and Brokers Business. As such, Caser stands out from the competition by achieving one of its main goals: retention and increased loyalty of agents and brokers. The project covers the use of videoconferences, creation of tutorials and many other activities to deliver training and be closer to the network, anytime and anywhere.
Training
THE "FUTURA" PROJECT: A NEW CONCEPT Caser has launched a new training programme, known as the "Futura" project, based on the idea of blended learning. This type of training mixes e-learning with classroom-based activities, focusing not only on techniques and skills related to daily work activities but also on strengthening adaptation to change and to more proactive sales. This new project is aimed at three different groups: administrative staff, administrative staff who move into sales and any staff looking to consolidate and enhance their professional profile with a special focus on service and, above all, on the end customer and the internal
customer.It also aims to improve the quality of service provision through advanced knowledge of the company's intermediation work and the tools required to support this work; and to continue providing tools and solutions for general improvement of overall business results in terms of profitability, efficiency, brand image and benefits for customers and brokers alike.
thereby highlighting the corresponding areas for improvement/development. The groups that took part in the assessment were made up of Network Managers and Sales Technicians. Two main lines of action were recommended for both groups: individual coaching in the most critical or important areas for improvement; and occasional training activities.
A pilot test was carried out with the Agents and Brokers Sales Network group to determine the level of adaptation of the group members to the Business' new sales targets,
TARGET: EXPATRIATE TRAINING 2014 "In the Expatriate Network we always look for maximum efficiency in everything we plan to do according to the resources available at the time", explains Pablo Guerrero, Expatriate Network Director. "This allows us to take a coherent and logical approach to all new challenges. Our ultimate goal is to take a qualitative step forward in the training offered to our brokers", he adds. The Law on Insurance Intermediation and Private Reinsurance requires these professionals to provide evidence of having the necessary knowledge to work in this field. In accordance with this legal requirement, the Expatriate Network has made significant changes in order to offer customised training courses and programmes. Currently, all agents must complete an initial training course to be registered as Exclusive Agents with the company. For some time now, Caser has been offering this online course in English, which can be accessed on the Broker's Website. According to the ICEA [the association of Spanish insurance companies], this is a significant qualitative step forward within the sector. Ongoing training and retraining activities are also required by Law. In this respect, the Expatriate Network has launched an initiative in collaboration with RubĂŠn Romero, Head of Training, to provide dynamic, flexible and fast access to this type of training. During the second quarter of 2014, video tutorials will be made available in all legally required areas alongside
others that may also be of interest to Caser Brokers, including topics such as sales techniques. According to Pablo, this is a ground-breaking initiative as, "instead of handing out huge, hard-to-read manuals, these videos will be directly available on the Broker's Website and can be viewed at any time or even downloaded onto mobile devices such as smartphones or tablets. The videos will be no longer than 5 minutes." Not being able to attend a training session on a certain product, on a certain day or at a certain time, and at a location chosen by the company, will no longer be a problem. Training information will always be available and rapidly updated, and brokers can be informed of any changes via a simple email. In addition, the video tutorials can be used by brokers in their sales meetings. "Access to training for our distribution network has never been so easy or in such a simple and user-friendly format", says Pablo.
Not being able to attend a training session on a certain product, on a certain day or at a certain time will no longer be a problem
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In depth
."/"(*/( 5"-&/5 */ 5*.&4 0' $)"/(& Now more than ever, talent management is a top priority for the growth of any organisation. Working with the very best professionals has a direct impact on any company's income statement. But is it really possible to incorporate this philosophy into daily business activity? Reduction of costs, redesign of organisational structures, takeovers and mergers, streamlining activity... In recent years, many companies have been forced to make a large number of changes that, at times, have had a lasting effect on the reliability and commitment of key workers, especially if no strategies are developed to motivate them and keep them within the company. When the going is good, it is much easier to retain talent as there are more resources available. However, in these times of crisis and change we must take decisive action to look after our human resources, largely because "the success of any organisation depends exclusively on talent. It is the source of all competitive advantage", confirms Rodrigo MartĂn, the Executive Chairman of Randstad in Spain, at the forum "10 Recommendations for 2014" organised by the APD (management process association).
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24
In depth
In addition, reactivation of the labour market could encourage certain workers who previous thought changing jobs was too risky to move to another company if the opportunity arises, with the corresponding risk of losing key knowledge. As Rodrigo Martín explained, "as uncertainly gradually disappears and confidence is restored, those who feel 'trapped' in their current jobs will look to break free". A DISTINGUISHING FEATURE Without a doubt, knowing how to manage talent is what sets exceptional companies apart from the rest. It consists of synchronising the talent brought by all members of an organisation and channelling it to create value and innovation. Talent management can be defined as "having the right people in the right place in order to achieve the best results". The key to successful talent management is to attract talent via an integrated approach based on strategic resource planning, identification of market niches, recognition of upcoming areas and use of brand image by the employer.
It consists of synchronising the talent brought by all members of an organisation and channelling it to create value and innovation Another basic and fundamental aspect is the ability to identify and define talent in all its various forms, to promote a culture of continuing development and to implement processes. In addition to investing in groups in which a return on investment can be made, it is vital that companies know what they want to achieve and what resources are available to them. To achieve this, talent needs to be
recognised by using individual evaluation tools to identify people with high potential and who are well suited for key position. Bosses should play the role of a coach, determining the individual needs of each person in their charge and should listen, motivate and encourage reflection among their teams. Talent management is a complex process that can be broken down into various stages: recruitment and selection; evaluation of performance; individual development; and, lastly, talent retention. TALENT RETENTION TECHNIQUES The techniques used to direct and retain human talent affect the results achieved by the organisation. No one would doubt that financial assets and suitable equipment are fundamental to effective operations; however, the talent of each and every employee also plays a key role in company productivity. Without efficient professional profiles no organisation can hope to hit its targets. According to the results of a survey carried out by Randstad, of all people currently working in Spain, 51% have been in their current job for 3 to 10 years; a higher percentage than both the European and the International average, which are both much lower, at 43%. This measure of employee retention reveals the danger of losing talent, especially when they are more or less settled within their respective companies. The retention of this talent depends on the company and the importance placed on policies such as Employee Engagement and Employee Branding, which have become essential practices in our current business world. Employee Branding is centred around the detection and attraction of talent that would set the company part from the competition. Whereas Employee Engagement is related to retaining this talent; not allowing it to be lost yet without going so far as to "hold it hostage".
HOW TO RETAIN TALENT • By sharing the business strategy with all workers. • By clarifying the individual role of each employee in the overall process, above all in medium-size companies. • By making "logical" changes in terms of restructuring staff or reducing business costs. • By explaining these changes and the reasons behind them to all employees. • Through leading by example: "you cannot adopt a transparency policy if you are not prepared to abide by it" • By investing in genuine Corporate Social Responsibility, as this is the best "recipe" for creating a close "bond" between workers and company. Source: Randstad
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CASER SALUD
TU SEGURO CASER SALUD ACTIVA POR MENOS DE UN CAFÉ AL DÍA SÓLO
29 €/mes
*
INCLUIDOS LOS GASTOS
DE ÓPTICA, FARMACIA Y VACUNAS INFANTILES
* Promoción válida hasta el 31 de julio de 2014 para nuevas contrataciones de clientes particulares en el producto Caser Salud Activa que no hubieran sido asegurados de salud de Caser en los últimos 6 meses. Prima válida para personas menores de 40 años. Consultar primas para mayores de esa edad. La cobertura de farmacia y vacunas infantiles comprende el reembolso del 50% del importe de las facturas, hasta un máximo de 100€ por asegurado y año en las condiciones estipuladas en dicha cobertura. La cobertura de Óptica comprende el reembolso del 50% del importe de las facturas, hasta un máximo de 100€ durante 2014, en las condiciones estipuladas en dicha cobertura.