Bankers Life and Casualty Increases Prospect Telemarketing Pool by 60%

With its prospect base shrinking, 4,100 agents turn to Gryphon Networks for a solution to capture, apply and track Established Business Relationships (EBRs) that lead to increased sales and profits.

The Challenge
Established in 1879, Bankers Life and Casualty Company (Bankers) is today one of the largest and most respected insurance companies in the United States focused exclusively on the needs of senior Americans. Bankers services the needs of seniors through a broad portfolio of quality, competitive insurance products including long term care, life, annuities and medicare supplement; a national sales force of professionally trained career agents; and a dedicated group of highly capable home office employees.

Bankers sends out millions of pieces of direct mail each year and receives hundreds of thousands of responses from senior-market consumers. But the vast majority of Bankers' target market does not respond to direct mail, so the company's outbound calling efforts, most of which originate with agents, are critical to the company's continued success.

The Solution
Bankers selects Gryphon Networks to keep them 100% compliant, and to bring back 60% of the market.

>Download the complete case study (PDF).

 Nationwide Insurance

A centralized solution ensures compliance, enabling growth and saving millions

Nationwide is one of the country's largest diversified insurance and financial services organizations, and ranks 104th in total revenues on the Fortune 500 list (2007). The company offers a full range of insurance products and financial services through multiple distribution channels. Before the expansion of state and federal Do-Not-Call (DNC) laws, Nationwide's agents used an internally developed, self-managed DNC program. The manually driven compliance process required agents to look up phone numbers on a hundred-plus page Microsoft Excel spreadsheet before making each call. In addition, adding a name to the DNC list required sending an e-mail to the central office, where the spreadsheet was periodically updated and redistributed. This cumbersome compliance process frustrated agents and reduced productivity.

With the introduction of DNC legislation in multiple jurisdictions, the process of keeping the spreadsheet current became even more complex, draining resources from Nationwide's core business functions. To automate telemarketing efforts and link affiliated companies together into one system that was current and easy to use, Nationwide chose a compliance solution from Gryphon Networks.

"Gryphon has helped us significantly reduce our risk of non-compliance with a quality product that's easy to use," adds Kirk Herath, chief privacy officer and associate general counsel. "After getting into the system, it's as simple as dialing the next potential customer. You're only two keystrokes away from adding someone to your internal DNC list before moving on to the next number. What used to take days or even weeks now takes seconds, so it's several orders of magnitude faster and more efficient. In addition, several management tools are available so you can track how your sales force is working and it's all updated automatically and in real-time."


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Wachovia

Gaining Visibility and Driving Productivity into Outbound Business to Consumer Sales Over the Phone.

Wachovia's challenge was not unlike other large financial institutions that use the telephone to contact consumers. Namely, how to drive new revenue opportunity in a regulatory environment that is increasingly complex and avoid subjecting the company to compliance risk, while improving agents' productivity. Aggressive and diverse state and federal Do Not Call laws present challenges to even the most diligently compliance conscious companies. With over 2,700 financial centers and 7 different lines of business, Wachovia relied heavily on its base of over 18,000 Financial Advisors to reach out to consumers via the phone to represent its diversified portfolio of banking, wealth management and insurance services.

Problem:

With state and federal regulatory requirements constantly changing, Wachovia's ability to prospect in an effective and compliant manner grew daunting. Its internal process of providing their Financial Advisors an intranet look up system to validate numbers before calling was insufficiently effective. Managers had no way of ensuring that their Financial Advisors' used the system, and had no visibility into their calling activity.

Read about Wachovia's Solution