Barbados
October 2020
Sagicor General Contact Centre k o o b y a l P e h T 1
Table of Contents Title
Page #
Introduction
3
Call centre function
4
The role of Avaya
5
Round Robin
7
Service levels
9
Reporting
11
New Business Conversions
14
Quick quote
15
Quotation guidelines
20
Targets
21
New business follow up process
22
Queries
24
Retention
27
Call Quality
30
Complaints
32
Complaints policy
33
Troubleshooting
38
Call centre FAQs
39
Accounting
41
Claims
45
Underwriting
49
Quotation templates
78
2
Introduction What is the Call Centre playbook?
Our playbook outlines everything, from tools that guide our everyday function to executing simple and complicated quotations. It is meant to make the information necessary for the completion of your deliverables easily accessible.
3
Call Centre Function The Call Centre was created to provide a full service to the clients of Sagicor General Insurance Inc. which saw the team servicing calls for the below skills: •Quotations •Policy Information •Accounts •Claims Information Out mission is to ensure that our clients are provided with a WOW experience and strive to maintain a Service Level of 82% for each skill (Quotations, Policy Info., Accounts Info. and Claims Info.).
4
The role of Avaya
A good way to enter your Log In ID is to first listen for a dial tone…select your button…..listen for the connecting sound…..and viola!!! You’re logged on.
The AVAYA SYSTEM is the main source of the Call Centre functionality. It is an advanced phone system which uses computer technology to support and report on the daily use and performance of The Team. Our core goals, i.e. New Business Conversions, Policy Info/ Queries, and Retention levels are measured through set metrics derived from the data gather from the AVAYA System. The overall Performance of the Call Centre is summarised in a comprehensive report which indicates that we are achieving the departmental goal, “SERVICE LEVELS.” SERVICE LEVELS are strongly weighed at 82%, and the UNAVAILABILITY of the Call Centre Representative can seriously impact our overall performance. To effectively report on SERVICE LEVELS and explain low trending results, each representative must log into the phone with their assigned confidential LOG IN ID.
5
The role of Avaya cont... The confidential LOG IN ID is characterised by a 5-digit number and the following steps are required for a successful log on: • Scroll your phone to Screen 2 • Select “Log In” or; if your phone is not programmed with the “Log In” tile • Select SD*54 • Input your 5-digit LOG IN ID • The phone will switch to the “Not ready” status tile •
Select “Ready”
At given points, the Call Centre Representative may be Unavailable. It is important that your phone do not default to a “Not Ready” status from e.g. a missed call. In this case, the manual selection of the “Ready” status should be selected to open your phone lines. • An unexplained “Not ready” report impacts the service level drastically • Explained “Not Ready” reports are supported by Reason Codes.
6
Round Robin UNAVAILABILITY triggers the “Not Ready” status, which falsely sets in motion the Round Robin. What is the Round Robin? The Round Robin: Firstly, the AVAYA System uses Automatic CALL Distribution. This function allows the caller to select the line most relevant to their transaction. • • • •
Line 2: Quotations Line 3: Claims Line 4: Balances/Credit Queries Line 5: Policy Infor/General Queries
Be Aware that if you missed a call and the “Not Ready” Status is triggered, your phone will remain in that status until you manually disable by selecting “Ready,” again!!!!!!!!
On selection, the call will go to an available Call Centre Representative. If all representatives are on their lines, the first Representatives to become available again will take the next call; this is Round Robin. A falsely triggered Round Robin occurs when the call is not answered by the Representative for no explainable reason and activates the Not Ready status. This leads to calls bouncing between the other representatives, who are also on their lines answering various transactions. The unanswered call is known as a drop call; which results in low service levels.
7
For explainable reasons… The UNAVAILABILITY of the representative is accepted when a selected reason code has been entered. The system too, provides data which explains why and allow for proper routing of calls without an unnecessary dropped/ missed call. Reason Codes have been assigned to your phones. These are entered by the user by following: Step 1 (Step 1 Log In Process above) Select “Not Ready” Input the assigned code (below) Replace the receiver or click the Speaker Phone icon.
8
Service levels (a snapshot) As stated, Service Levels indicate that The Centre is meeting one of its main objectives. Below the critical columns have been highlighted to show how performance is impacted. It is very important that the daily level not drop below 75% on each line, i.e. Quotations and Policy Info. The critical columns to be focused on are: • Within Service Level – the percentage of calls answered for that particular day • Arrivals – the total number of calls offered to the contact centre for that particular day • Aban. Calls (Abandoned Calls) – the number of calls which were not taken by a CSR or did not make a connection to a CSR (dropped calls) • Avg Speed Ans (Average Speed of Answer) – the overall answer speed (time) taken to answer a ringing call • Avg Hold Time (Average Hold Time) – The average time customers have been on hold
9
10
Reporting Service levels
11
Reporting The application performance The summary reports of all monthly Service Levels are produced in an Excel worksheet titled, “Application Performance.� Service Levels are categorised at three levels: Policy Information, SGI Quotations and the Combined Service Level. At the end of the year the Average Service Level contributes to the overall target of 82% and is illustrated on the Yearly Comparison Tab.
12
Reporting Additionally, individual performances are reported in detail on the tab Individual Statistics which allows for comprehensive reporting throughout the year. Individual Statistics 1
13
New Business Conversions The conversion of a quotation into a New Business is one of the Call Centre’s main objectives. This goal is weighed by a set premium target (e.g.$1,000,000.00) and is representative of the company’s overall Gross Written Premium target.
To provide an acceptable quotation, it is necessary to ascertain as much information from the proposer as possible. Quotations can be calculated manually, or system generated. System generated quotes are presently done in GIMS for all classes of business. Therefore, GIMS provides two methods of quoting:
Quick Quotes: mostly done for private motor on both Third Party and Comprehensive coverages. GIMS Quotes mostly done for Commercial motor quotations (also private quotes) on all classes and coverages.
14
Quick Quote: Screen 1
Q U ICK Q UO T E S ( G IM S s y s te m ) a s seen in scre en shots below a r e to b e mandatorily e n te r e d b y A L L representativ es . Failure to en ter a t the close of day a nd /or m ont h end will r esult in t he quotation no t recognised a s a N ew B u s iness.
15
Screen 2: Personal Details 1
16
Screen 3: Driver's Details 1
17
Screen 4: Vehicle Details 1
18
Screen 5: Package Selection 1
19
Quotation Guidelines • When possible always get a contact number for the individual • Get the details on the populated screens above • In the event that a Senior Underwriter’s or Supervisor’s input is required, and a direct decision cannot be given at the time of particular quote, please assure the proposer that you will return the call “by end of workday,” even if to say you are still working on it! In an effort for us to measure our conversion ratio, the quotations being in the system are important so they can be scrolled into the New Business and a report can be requested which shows the conversions of quotations received from the Call Centre. Also, to avoid errors where all the coverages and Stamp Duty does not default, please follow the below steps: • • • •
On the Cover Screen, do not ‘x’ out as this will only default the first set of coverages. You should let the coverages default by just choosing the Line and Package Code. If you do ‘x’ out, please Replace Package in order for the system to default all the coverages. Review the Cover Screen by going to Inquiries, Coverage Refresh and this will show all the coverages.
20
Targets The New Business Conversions serve as a performance indicator for the group and its representatives. This measurement translates the strategic goal for Gross Written Premium (GWP) into the metrics required to achieve the overall targets of the department.
Targets outlined are: • The Department’s Premium Target is based on the company’s GWP objective and an individual’s year on year performance. • The Individual’s Premium Target is based on year on year performance • The Individual’s Premium Count is based on the number of policies written year on year performance
21
The New Business Follow-up Process Did you kn ow that 60 % of customers s ay no four times before saying yes ?
Day 1 Call for quote received.
Day 4 1st call back.
Day 7 2nd call back.
Follow-ups demonstrate your determinatio n to build relationships with your customers, a nd most sign ificant sales are th e end result of a relationship. You will still find a lot of disinte rested partie s , but a few potential buy e r s will appreciate th e extra effort .
22
23
Queries Queries answered by the Contact Centre require a sound knowledge of Sagicor General’s products and policies. Queries can range from a basic, “What are you’re working hours?” to infrequent questions such as “What are the limits under my Homeowner’s policy?” The Call Centre’s Policy Info (Queries) phone lines expose the representative to various Underwriting, Accounting, Claims and General queries. To efficiently answer all queries it is important to gather the insured’s information as noted below: • Name • Policy Number / Type of Policy • Address
Queries Guidelines In some instances a direct response is delayed for a Senior Underwriter / Supervisor’s input. Make every effort to contact them as the query may contain some level of complexity. Additionally, some informed decisions cannot be made at the time, due to reasons as accepted within our standards.
Accepted Reasons • SYSTEM failure • Information inconsistencies • Client not found • Discrepancies on system
24
Query sources The AVAYA phone system is the main source of queries within the department. The phone system is operated on an Automated Call Distribution (ACD) with our main lines being: • Line 2: Quotations • Line 3: Claims Info • Line 4 – Accounts Info • Line 5 – Policy Info/General Queries Each line is monitored on a daily basis for: • Total Number of Calls Answered • The Number of Calls Abandoned • Answer Speed • Hold Time • Flow outs Queries are also sourced through the email system, “Microsoft Outlook” and the Call Centre has its designated email address for all queries:
SGI_BB_CallCentre@Sagicorgeneral.com
25
Query sources The queries are forwarded on a daily basis by each Customer Experience Representative – Contact Centre. To effectively answer and monitor emailed queries a schedule was created for the department and approved by the Vice President for use. This forms as a department objective towards Service Levels.
Queries Timetable 1
26
Retention SGI Call Centre’s objectives recognise the overall strategy of the company; that is to maintain every profitable book of business on our books. Renewal Sheet Distribution The Renewal Sheet or “Call Ups” sheet termed within the department are distributed following the: 15th and 31st of each month • The number of names listed equally are divided into three/ four spreadsheets. • Each sheet is labelled with the names of the assigned Call Centre representative. • Each sheet is labelled with the date “as at” noted on the master sheet. • The Call-Ups sheet is emailed to the entire group for action. Renewal Sheet Approach Individualised sheets when received follow the below process: • As per the representatives choice irrelevant columns are hidden for easy viewing. • Cross-referencing information on the sheet with policies on GIMS to affirm the premiums charged. • After filtering the sheet the below codes should be used to analyse the sheet and generate the overall and individual retention level. • Each code has been created as drop boxes on the worksheet’s “COMMENT CODE” column.
27
Comment codes 1
Retention Guidelines: The representative on reaching the client will courteously: • Remind the insured of the renewal date and the premium due • Clients request payment terms; Terms are offered, based on the standard ½ instalment or 3/4 monthly instalments. • If standard payments are not feasible an option for longer payment terms such as Direct Debit / Over-the-Counter plan (up to 10 instalments) are offered • Always UP SELL when possible –E.g. Recommend the Sum Insured on the property be increased • Always CROSS SELL when possible- E.g. Recommend Contents or business be insured
28
Retention: Exceptions to the Rules (of calling) The inclusion of Executives’ and Board of Directors’ names will occur on the “Call-Up” sheet from time to time. These names have been excluded from reminder calls.
29
Call Quality Standards
Telephone etiquette means being respectful to the person you are talking with, showing consideration for the other person’s limitations and allowing that person time to speak and communicate clearly. Your voice must create a visual impression over the telephone i.e. always answer with a smile. Good telephone etiquette is important because we cannot see the facial expressions and body language of the other person and they cannot see us; we must therefore compensate by choosing our words carefully and using much more tone inflection to convey our message.
30
CALL QUALITY MONITORING FORM Call Quality Monitoring Rating Criteria If a user determines a question to be ‘not applicable’ then the maximum score for this question is set to 0 so that not answering the question doesn’t affect the final rating, otherwise Yes/No type questions score 1 for Yes, 0 for No out of a maximum of 1. Rating questions score from 1 to 10 with a max score of 10.
31
COMPLAINTS Customer complaints can be defined as the gaps between what business promises in terms of the product or services and what customers get. It is a mismatch between how customers perceive the brand
Just as the light shines off this gem -so too can complaints shine the light for a better customer experience !
and where they fail to get the desired customer service experience.
32
Complaints Policy Complaints define the improvement process and relationship management expected by our clients. It is mandatory that all classifications of a “complaint� are reported and activated through the policy.
33
34
35
COMPLAINTS “Sagicor General Insurance Inc.(SGI) places a high value on its relationship with its customers, brokers, advisors and agents. We remain committed to handling all complaints in an effective and timely manner. SGI in adherence with regulatory requirements, has therefore, established this Customer Complaints Policy.� SGI Customer Complaints Policy, 2016
Targets- metrics The Complaints Policy seeks to remedy any situation that is adverse and has the potential to cause serious irreparable damage to our reputation. What we aim to achieve is efficiency in handling the complaint and assigning owners to manage the same.
36
COMPLAINTS Classification of Complaint • Minor: Little contact or risk to the organization. First contact resolution rate- this is an issue which can be solved on the same day. • Major: Significant issues which can cause lasting damage and require investigation. • Extreme: Issues which include death, long-term damage which require investigation.
Metric: • Minor: Same day to a maximum of two days • Major: Maximum of five days • Extreme: Up to 10 days. In circumstances, where litigation is involved, this time frame may be expanded. (Knight-Lloyd, 2016) 37
Troubleshooting SYSTEM: - GIMS System Errors: Who do you call or email? SGIBBMIS@Sagicorgeneral.com and servicecenter@sagcior.com or at contact extension (in house) 27577. System Failure: Standard response, “Our systems are currently down at the moment, can I please take your name and number and return your call as soon as our system becomes active. Thank you for your patience!’ Account Queries: What are your payment methods? : Banking online, Direct Debit Account, Credit Card Payments over the phone, SurePay, by cheque and over the counter. Online Banking: • The Bank of Nova Scotia • CIBC First Caribbean • RBC Royal Bank of Canada • FirstCitizens The Policy number must be used as the account number highlighted on the banking transaction screen. In the interim, and the insured requests a Cover Note or a certificate, please ask for a screenshot of the completed transaction to affirm the payment.
38
Call centre FAQs What are your business hours? 8:00 am to 4:30 pm and 9:00 a.m. to 3:00 p.m. in office
Who do I send my mail to? P.O. Box 150, Haggatt Hall, St. Michael BB11059, Barbados
If I don’t make a claim do I get back premium? Sorry, No! The Insurance premium does not roll over and it is applied to the period of your policy. However, we do provide a No Claims Discount to your policy for good driving habits.
If I cancel my policy will I get a refund? It depends, if you are cancelling within 8 months of your insurance period, then yes! You are entitled to a refund. However, if you are cancelling as a result of an accident to which you are at fault; no refund will be issued.
I’m checking on my life policy? Sorry, we are unable to process your query; we will redirect your call to Sagicor Life, please hold for transfer.
If I add my sister to the policy how will that affect my premium? It depends, on the age and driving experience of your sister. If your sister is 25 years and under with less than 2 years driving experience, a premium charge will apply.
39
Call centre FAQs cont... Can I insure only my roof? No, a complete structure must be insured.
Can I make any amendments to my policy midterm? Yes. The policy can facilitate any amendment during your insurance period. I haven’t received my renewal notice? Apologise for the error. Kindly confirm the mailing address and state the Renewal can be posted or email. Please ask for the most convenient method.
I need a document to show the bank that my premiums have been paid? Recommend our Certificate of Premiums Paid letter. A copy of this letter will be emailed to you, for saving on your personal drive
What is the number for your Sagicor on Scene (SOS)? SOS: Numbers: • Dispatch: 234-4357
40
Accounting! 41
Accounting queries
42
Accounting structure
43
Interest Rates on Instalment Program Effective April 1, 2020 adjust Interest Rates on the Instalment Program as follows:
44
Claims! 45
Claim queries
46
Claim queries
47
48
Underwriting! 49
Quotation Information Quotation Information The below information is requested from Proposers in order to provide a quotation: •
Name
•
Age
•
Driving Experience
•
Occupation
•
Accident History
•
Insurance History
•
Vehicle Usage
•
Year, Make, Model, Engine Size and Vehicle Value
•
If there are any additional drivers? If so, the below information is required for them: •
Name
•
Age
•
Driving Experience
•
Occupation
•
Accident History
50
Private Motor Minimum Premiums COVERAGE
PREMIUM
Third Party
$1,100.00 ($1,070.00 + $30.00 S.O.S)
Comprehensive
$1,380.00 ($1,350.00 + $30.00 S.O.S)
Rating Adjustments Third Party The base rates for all categories will increase by 10% Engine Size
Up to 1000cc
Up to 1400cc
Up to 1800cc
Up to 2500cc
Over 2500cc
Revised base rate
$1,644.50
$1,828.20
$2,013.00
$2,183.50
$2,530.00
Comprehensive The base premiums for Comprehensive policies will be amended likewise Engine Size Up to 1000cc Revised base rate + $1,644.50 + 12.05% of Vehicle 12.05% of VV Value (VV)
Up to 1400cc $1,828.20 + 12.05% of VV
Up to 1800cc $2,013.00 + 12.05% of VV
Up to 2500cc $2,183.50 + 12.05% of VV
Over 2500cc $2,530.00 + 12.05% of VV
51
Private Motor – Young Professional Minimum Premiums
COVERAGE
PREMIUM
Third Party
$1,100.00 + Optional Personal Accident and Contents ($1,070.00 + $30.00 S.O.S)
Comprehensive
$1,380.00 + Optional Personal Accident and Contents ($1,350.00 + $30.00 S.O.S)
52
Commercial Motor Minimum Premiums
COVERAGE
PREMIUM
Own Goods Third Party
$1,500.00 ($1,470.00 + $30.00 S.O.S)
Own Goods Comprehensive
$2,500.00 ($2,470.00 + $30.00 S.O.S)
General Cartage Third Party
$1,750.00 ($1,720.00 + $30.00 S.O.S)
Own Goods Comprehensive
$2,750.00 ($2,720.00 + $30.00 S.O.S)
53
Hired Car Minimum Premiums COVERAGE
PREMIUM
Third Party
$1,800.00 ($1,770.00 + $30.00 S.O.S)
Comprehensive
$2,500.00 ($2,470.00 + $30.00 S.O.S)
Rating Adjustments (Drivepal $480.00 + $30.00 S.O.S to be included) Third Party The base rates for all categories have been increased Engine Size
Up to 1000cc
Up to 1400cc
Up to 1800cc
Up to 2500cc
Over 2500cc
Revised base rate
$2,850.00
$3,000.00
$3,150.00
$3,300.00
$3,500.00
Comprehensive The base premiums for Comprehensive policies will be amended likewise Engine Size Up to 1000cc Revised base rate + $2,850.00 + 16.00% of Vehicle 16.00% of VV Value (VV)
Up to 1400cc $3,0..000 + 16.00% of VV
Compulsory Excess is $2,500.00
Up to 1800cc $3,150.00 + 16.00% of VV
Up to 2500cc $3.300.00 + 16.00% of VV
Over 2500cc $3,500.00 + 16.00% of VV
54
Taxi Comprehensive Minimum Premiums COVERAGE
PREMIUM
Third Party
$1,530.00 ($1,500.00 + $30.00 S.O.S)
Comprehensive
$1,830.00 ($1,800.00 + $30.00 S.O.S)
Premium Rating
Third Party
Base Premium is $3,000.00 for engine size up to 180cc Base Premium is $3,500.00 for engine size over 1800cc
Comprehensive
Base Premium is $3,000.00 for engine size up to 180cc plus 9.75% vehicle value for own Damage Base Premium is $3,500.00 for engine size over 1800cc plus 9.75% vehicle value for own Damage
55
Homeowners Rating HOMEOWNERS COMPREHENSIVE RATING BY PERILS CONSTRUCTION TYPE BUILDING SUPERIOR BASE FIRE 1.50 CAT 2.00 OTHER 0.50 4.00 CLASS A FIRE CAT OTHER CLASS B FIRE CAT OTHER CLASS C FIRE CAT OTHER
CONTENTS BASE 1.50 2.00 1.00 4.50
SPECIFIED VALUABLES UNSPECIFIED VALUABLES COMPUTERS
SEA DEF, L/SCAPING, SAT DISH
4.0000%o 5.28 6.72 16.00
6.2500%o 8.25 10.50 25.00
6.25 8.25 10.50 25.00
12.50 16.50 21.00 50.00
1.90 2.60 0.50 5.00
1.90 2.60 1.00 5.50
4.0000%o 5.28 6.72 16.00
6.2500%o 8.25 10.50 25.00
6.25 8.25 10.50 25.00
12.50 16.50 21.00 50.00
3.50 3.00 0.50 7.00
3.50 3.00 1.00 7.50
4.0000%o 5.28 6.72 16.00
6.2500%o 8.25 10.50 25.00
6.25 8.25 10.50 25.00
12.50 16.50 21.00 50.00
5.00 3.80 0.50 9.30
5.00 3.80 1.00 9.80
4.0000%o 5.28 6.72 16.00
6.2500%o 8.25 10.50 25.00
6.25 8.25 10.50 25.00
12.50 16.50 21.00 50.00
56
Residential Rating Construction/Type SUPERIOR FIRE CAT OTHER
CLASS A FIRE CAT OTHER
CLASS B FIRE CAT OTHER
CLASS C FIRE CAT OTHER
Fire & Full Perils
Fire & Limited Perils
Fire Only
1.50 2.00 0.40 3.90
1.50 0.00 0.40 1.90
1.50 0.00 0.00 1.50
1.90 2.60 0.40 4.90
1.90 0.00 0.40 2.30
1.90 0.00 0.00 1.90
3.50 3.00 0.40 6.90
3.50 0.00 0.40 3.90
3.50 0.00 0.00 3.50
5.00 3.80 0.40 9.20
5.00 0.00 0.40 5.40
5.00 0.00 0.00 5.00
57
Commercial Fire & Perils Rating SUPERIOR
A
B
C
Class 1
4.50
5.50
8.00
9.50
Class 2
5.40
6.60
9.60
11.40
Class 3
6.00
7.35
10.70
12.70
Class 4
7.65
9.35
13.60
16.15
Class 5
8.55
10.45
15.20
18.05
Class 6
9.90
12.10
17.60
20.90 58
Commercial Fire & Perils Rating Class 1 Fire H/Q All other
1.50 2.00 1.00 -
2.00 2.50 1.00 -
4.50 Class 2 Fire H/Q All other
5.50
2.20 2.20 1.00 -
-
-
-
-
11.40 -
5.70 4.00 1.00 -
7.35
5.90 4.50 1.00
9.60
3.65 2.70 1.00
6.00
-
-
-
9.50
4.60 4.00 1.00
6.60
2.80 2.20 1.00
-
-
-
5.00 3.50 1.00
8.00
2.90 2.70 1.00
5.40 Class 3 Fire H/Q All other
-
-
-
4.00 3.00 1.00
7.20 4.50 1.00 -
10.70
12.70
Add minimum load of 20% of Fire rate for congested areas.
59
Commercial Fire & Perils Rating cont’d Class 4 Fire H/Q All other
4.15 2.50 1.00 -
4.85 3.50 1.00 -
7.65 Class 5 Fire H/Q All other
9.35
4.30 3.00 1.25
-
-
-
-
-
18.05 -
11.35 5.00 1.25 -
12.10
10.80 6.00 1.25
15.20
7.35 3.50 1.25
9.90
-
-
-
16.15
8.95 5.00 1.25
10.45
5.65 3.00 1.25
-
-
-
9.65 5.50 1.00
13.60
5.70 3.50 1.25
8.55 Class 6 Fire H/Q All other
-
-
-
8.10 4.50 1.00
13.65 6.00 1.25 -
17.60
20.90
Add minimum load of 20% of Fire rate for congested areas.
60
New Business - Property Minimum Premiums for New Business
Coverage Type
Premium
Building – sums insured $50,000.00
$275.00
Contents – sums insured $20,000.00
$130.00
Residential Fire Only
$100.00
Residential Fire & Limited Perils
$100.00
Residential Fire & Full Perils
$200.00
Commercial Fire
$250.00
Office Package Policy
$250.00
All Risks
$200.00
Burglary
$200.00 61
New Business - Property Minimum Premiums for New Business
Coverage Type
Premium
Goods In Transit
$200.00
Plate Glass
$200.00
Fidelity
$200.00
Cash In Transit
$200.00
Employers Liability
$200.00
Public Liability
$300.00
Public Liability – One (1) day event
$150.00
62
Adjustments and Extension of cover Minimum Premiums for Adjustments
Coverage Type
Premium
Property
$25.00
Comprehensive Motor
$100.00
Third Party Motor
$50.00
Copy Policies
$20.00
Copy of Motor Certificates
$5.00
63
Base Premiums Calculations GIMS Application was updated to reflect the base premiums being reduced by the below percentages: 1.
Vehicle values from $60,000.00 to $99,999.00 – base premium is reduced by 15%
2. Vehicle value from $100,000.00 and up – base premiums is reduced by 25%
Also, the discounts to be applied are outlined below: 1.
Vehicle values from $59,999.00 and under – No Claim Discount and two (2) 10% discounts
2. Vehicle values from $60,000.00 to $99,999.00 – No Claim Discount and one (1) 10% discount 3. Vehicle value from $100,000.00 and up – No Claim Discount and no additional discounts unless authorized by a Supervisor 64
Values per vehicle
Compulsory Excesses
Compulsory Excesses
<=$50,000
$1,000.00
$50,001 - $60,000
$1,250.00
$60,001. - $70,000.
$1,500.00
$70,001 - $80,000.
$1,750.00
$80,001 - $90,000.
$2,000.00
$90,001 - $99,999.
$2,250.00
>=$100,000
2.5% of the value of the vehicle.
65
Young & Inexperienced Driver Excesses These excesses are in additional to the Compulsory Excess and it overrides what is stated within the Policy Document:
Category For a Driver 21 years of age or under at the time of the loss or damages For a Driver over 21 years and under 25 years of age at the time of the loss or damages For a Driver 25 years and or over with less than 2 years driving experience at the time of the loss or damages
Additional Excess $3,000.00
$2,000.00
$2,250.00 66
Courtesy Promotion The Promotion gives $2,000.00 off the first-year insurance for Private Insurance and $1,000.00 off the first-year insurance for Commercial Insurance.
At present, there are two (2) calculators which are used to assist us with removing the discounted premiums in the system. •
Courtesy Promotion Discount Calculator - $1,150.00
•
Courtesy Promotion Discount Calculator - $2,000.00
The below fields are shown in each calculator: •
Net Premium – this field carries the total premium quoted/charged
•
Premiums Not Discounted - this field carries the total of S.O.S, Stamp Duty and Drivepal Device
•
Premium To Client – this field carries the premium payable by the Proposer and Courtesy
•
CGP Discount – this field carries the discounted amount to be enter in GIMS on the DI/SUR Screen
67
SGI/Courtesy Promotion When the discounts are applied the system shows the amount payable by the Proposer and Courtesy Garage ($850.00) on the Private Quotation and the amount payable by the Proposer on the Commercial Quotation. The quotations are to be coded on the Promotion Program field as: •
SCS – Sagicor Courtesy Promotion (Private)
•
CGX – Courtesy Extra Business (Commercial)
68
Courtesy Promotion cont’d • Example of the calculator $1,150.00 – PRIVATE:
• Premium: $3,150.00 • Stamp Duty: $26.50 • Quoted Premium: $3,176.50 • Client to pay: $1,176.50 ($3,176.50 - $2,000.00
($1,150.00 (SGI’s portion + $850.00 Courtesy’s portion) • Courtesy’s portion: $850.00 • GIMS system: $2,026.50 ($1,176.50 (Client’s portion + $850.00 Courtesy’s portion)
69
Courtesy Promotion cont’d
• Example of the calculator $2,000.00 - COMMERCIAL: • Premium: $3,150.00 • Stamp Duty: $26.50 • Quoted Premium: $3,176.50 • Client to pay: $2,176.50 ($3,176.50 - $1,000.00 (SGI’s portion) • GIMS system: $2,176.50 (Client’s portion)
70
SGI/SigniaGlobe Promotion The Promotion gives $900.00 off for vehicle with values in excess of $59,999.00. The Signia Promotion Discount Calculator $900.00 off is used to assist with removing the discounted premium in the system. The below fields are shown in each calculator: •
Net Premium – this field carries the total premium quoted/charged
•
Premiums Not Discounted - this field carries the total of S.O.S, Stamp Duty and Drivepal Device
•
Premium To Client – this field carries the premium payable by the Proposer
•
CGP Discount – this field carries the discounted amount to be enter in GIMS on the DI/SUR Screen
When the discounts are applied the system shows the amount payable by the Proposer on the Private and Commercial Quotations.
The quotations are to be coded on the Promotion Program field as: •
SIG – Signia Promotion Scheme
71
SigniaGlobe Promotion cont’d • Example of the calculator $900.00: • Premium: $3,150.00 • Stamp Duty: $26.50 • Quoted Premium: $3,176.50 • Client to pay: $2,276.50 ($3,176.50 - $900.00 (SGI’s portion) • GIMS system: $2,276.50 (Client’s portion)
72
DrivePal Programme Primary Target Market :- Young and/or inexperienced drivers These drivers can either be :1. Young and/or inexperienced Persons proposing for insurance or 2. Policyholders who have young and/or inexperienced drivers on the policy e.g. son or daughter Secondary Target Market :- â&#x20AC;&#x153;better riskâ&#x20AC;? drivers 1. Drivers with good driving records now insured elsewhere. The benefit for such drivers would be realized more in the area of the monitoring of the vehicle rather than on premium saving. 2. Any policyholder (new or existing) who wants to benefit from having the device installed. 73
DrivePal Programme DrivePal is primarily geared towards the Private Motor Insurance Policy :-
1. Private Motor Comprehensive and 2. Private Motor Third Party policies. Commercial Own Goods Policies will be accommodated on a case by case or on referral basis.
For example:1. Vehicles which are registered as Commercial vehicles but are being used for private purpose 2. Commercial Vehicles with young and/or inexperienced drivers or 3. Where a proposer/Insured requests the DrivePal for a fleet of vehicles
74
DrivePal Programme How will DrivePal underwritten? • Sagicor General has agreed that since we will be aware of an individual’s driving behaviour/habits due to the monitoring we can offer a reduced premium. • Where a high load would normally be applied to a young or inexperienced driver, this load will either be reduced or removed upfront (i.e. at inception, renewal or mid term as the case maybe) i.e. there is no waiting period for the
benefit of the reduced load/premium. There is a fee charged to SGI to operate DrivePal in each vehicle. This fee is $480.00 per year. • The annual fee - $480.00 is added to the annual premium charged to client to have device installed. When advising proposers of DrivePal premium quotations, the underwriter is required to quote the full net premium to the client and not give any indication of premium and DrivePal fee – as we presently do with the Auto Rescue fee. • Similarly to how the Auto Rescue and Loss of Use fee operates - the DrivePal fee is not discounted.
75
DrivePal Programme Who can enroll for DrivePal monitoring?
1.
All “high risk” proposers who request quotations for Comprehensive Policies should be quoted both our standard premium as well as the reduced DrivePal premium. This allows for a better appreciation of the premium savings.
2.
All “high risk” proposers who request quotations for Third Party insurance should only be quoted our DrivePal premium. This would enable us to better manage our Motor portfolio for this level of driver.
3.
In cases where the “high risk” driver is an add./named driver we can provide the two premium options.
4.
In all cases of “high risk” drivers, the vehicle must have the DrivePal device installed for the full policy year and $840.00 applied to the annual premium.
5.
The “better risk” drivers who specifically request to have DrivePal however the premium savings will not be significant and in some cases there may not be any savings.
6.
The “better risk” drivers will have the DrivePal device for a shorter period as we would be more comfortable with their driving habits/behaviour.
7.
DrivePal therefore will not be “pushed” towards the “better drivers” as we recognise premiums would already be low. We can use our discretion and offer an add. 5% - 10% discount off our standard/normal premium to attract these better risks.
76
DrivePal Programme What are the revised loads for the Drivepal device?
77
Quotation Email Templates In order to streamline the responses being sent from the Unit, the below Quotation Templates were created:
QUOTATION EMAL TEMPLATES
•
Private Motor Quotation – Comprehensive
•
Private Motor Quotation – Third Party
•
Commercial Own Goods Motor Quotation – Comprehensive
•
Commercial Own Goods Motor Quotation – Third Party
•
Private Motor Quotation – Comprehensive (Courtesy Promotion)
•
Homeowners Comprehensive Quotation
The templates can be amended to reflect the type of product being quoted and it can be found on the Call Centre Drive.
78
Good Day [Name of Client] Thank you for contacting Sagicor General Insurance Inc. and for giving us the opportunity to provide you with a quotation on your investment.
Good Day [Name of Client]
Please find our Private Motor Comprehensive Insurance quote below:
Thank you for contacting Sagicor General Insurance Inc. and for the opportunity to provide you with a quotation on your investment.
Vehicle:
2012 Toyota Hilux, 3000CC, Value: $44,000.00
Please find our Private Motor Third Party Insurance quote below:
Premium:
$2,849.51 + $11.00 Stamp Duty = $2,860.51
Compulsory Excess:
$1,500.00
Non-Declared Driver Excess:
$2,000.00 (additional)
Loss of Use (Free Rental Vehicle):
14 days
Vehicle:
2000 Nissan Sunny, 1500CC
Premium:
$1,100.00 + $2.50 Stamp Duty = $1,102.50
Payment Terms: One (1) to Six (6) consecutive monthly installments without interest Quotation is valid for thirty (30) days.
Payment Terms: One (1) to Six (6) consecutive monthly installments without interest Seven (7) to Ten (10) consecutive monthly installments with interest Quotation is valid for thirty (30) days. Should cover be required the following documents would have to be submitted: • Fully completed Proposal Form (attached) • Fully completed Know Your Customer Form (attached) • Proof of ownership letter OR Proforma Invoice • Copy of updated Valuation • Copy of Drivers Licence OR Visitors Registration Certificate for all noted drivers • Copy of Barbados Identification Card/Passport • Proof of Address – Utility Bill/Bank Statement/Cave Shepherd Statement/ Massy Statement/Government Issues Document (no older than 3 months)
Should cover be required the following documents would have to be submitted: • Fully completed proposal form (attached) • Proof of ownership letter OR Proforma Invoice • Copy of Roadworthy Certificate • Copy of Drivers Licence OR Visitors Registration Certificate for all noted drivers • Copy of Barbados Identification Card/Passport • Proof of Address – Utility Bill/Bank Statement/Cave Shepherd Statement/ Massy Statement/Government Issues Document (no older than 3 months)
If you agree with the above quotation, kindly scan and email the requested documents so that we can begin the process of adding you to the Sagicor General Insurance family. If you agree with the above quotation, kindly scan and email the requested documents so that we can begin the process of adding you to the Sagicor General Insurance family.
Thanks for choosing us!
Thanks for choosing us!
Kind regards,
Kind regards,
79
Good Day [Name of Client] Thank you for contacting Sagicor General Insurance Inc. and for the opportunity to provide you with a quotation on your investment.
Good Day [Name of Client]
Please find our Commercial Own Goods Comprehensive Insurance quote below:
Thank you for contacting Sagicor General Insurance Inc. and for the opportunity to provide you with a quotation on your investment.
Vehicle:
2012 Toyota Hilux, 3000CC, Value: $44,000.00
Please find our Commercial Own Goods Third Party Insurance quote below:
Premium:
$2,849.51 + $11.00 Stamp Duty = $2,860.51
Vehicle:
2012 Toyota Hilux, 3000CC
Compulsory Excess:
$1,500.00
Premium:
$2,500.00 + $2.50 Stamp Duty = $2,502.50
Payment Terms: One (1) to Five (5) consecutive monthly installments without interest Six (6) to Ten (10) consecutive monthly installments with interest Quotation is valid for thirty (30) days. Should cover be required the following documents would have to be submitted: • Fully completed Proposal Form (attached) • Know Your Customer Form (attached) • Proof of ownership letter OR Proforma Invoice • Copy of updated Valuation • Copy of Vehicle Examiners Certificate • Copy of Drivers Licence OR Visitors Registration Certificate for all noted drivers • Copy of Barbados Identification Card/Passport • Proof of Address – Utility Bill/Bank Statement/Cave Shepherd Statement/ Massy Statement/Government Issues Document (no older than 3 months)
Payment Terms: One (1) to Five (5) consecutive monthly installments without interest Quotation is valid for thirty (30) days. Should cover be required the following documents would have to be submitted: • Fully completed Proposal Form (attached) • Know Your Customer Form (attached) • Proof of ownership letter OR Proforma Invoice • Copy of Vehicle Examiners Certificate • Copy of Drivers Licence OR Visitors Registration Certificate for all noted drivers • Copy of Barbados Identification Card/Passport • Proof of Address – Utility Bill/Bank Statement/Cave Shepherd Statement/ Massy Statement/Government Issues Document (no older than 3 months)
If you agree with the above quotation, kindly scan and email the requested documents so that we can begin the process of adding you to the Sagicor General Insurance family.
If you agree with the above quotation, kindly scan and email the requested documents so that we can begin the process of adding you to the Sagicor General Insurance family.
Thanks for choosing Sagicor General Insurance Inc.
Thanks for choosing Sagicor General Insurance Inc.
Kind regards,
Kind regards,
80
Good Day [Name of Client] Thank you for contacting Sagicor General Insurance Inc. and for giving us the opportunity to provide you with a quotation on your investment. Please find our Private Motor Comprehensive Insurance quote below:
Good Day [Name of Client]
Vehicle:
2018 Hyundai Tucson, 2000CC, Value: $120,995.00
Thank you for contacting Sagicor General Insurance Inc. and for the opportunity to provide you with a quotation on your investment.
Premium:
$3,351.69 + $30.25 Stamp Duty = $3,381.94
Please find our Homeowners Comprehensive Insurance quote below:
Compulsory Excess:
$3,025.00
Location:
Four Hills, St Peter
Non-Declared Driver Excess:
$2,000.00 (additional)
Construction:
Walls – Plycem Fibre Reinforced Cement Board, Roof – Permaclad
Loss of Use (Free Rental Vehicle):
14 days
Sums Insured:
Building - $280,000.00
Payment Terms: One (1) to Six (6) consecutive monthly installments without interest Seven (7) to Ten (10) consecutive monthly installments with interest
Premium:
$1,764.00 + $70.00 Stamp Duty = $1,834.00
Quotation is valid for thirty (30) days.
Payment Terms:
One (1) to Six (6) consecutive monthly installments without interest Seven (7) to Ten (10) consecutive monthly installments with interest
Should cover be required the following documents would have to be submitted: • Fully completed Proposal Form (attached) • Fully completed Know Your Customer Form (attached) • Proof of ownership letter OR Proforma Invoice • Copy of updated Valuation • Copy of Drivers Licence OR Visitors Registration Certificate for all noted drivers • Copy of Barbados Identification Card/Passport • Proof of Address – Utility Bill/Bank Statement/Cave Shepherd Statement/ Massy Statement/Government Issues Document (no older than 3 months)
Quotation is valid for thirty (30) days. Should cover be required the following documents would have to be submitted: • Fully completed Proposal Form (attached) • Know Your Customer Form (attached) • Copy of Barbados Identification Card/Passport • Copy of Land Tax Bill • Copy of Property Appraisal • Proof of Address – Utility Bill/Bank Statement/Cave Shepherd Statement/ Massy Statement/Government Issues Document (no older than 3 months)
We are currently running a promotion with Courtesy Garage where the premium is being discounted by $2,000.00 for the first year of insurance. In light of this, you would only have to pay $1,381.94. If you agree with the above quotation, kindly scan and email the requested documents so that we can begin the process of adding you to the Sagicor General Insurance family.
If you agree with the above quotation, kindly scan and email the requested documents so that we can begin the process of adding you to the Sagicor General Insurance family.
Thanks for choosing us!
Thanks for choosing Sagicor General Insurance Inc.
Kind regards,
Kind regards,
81
