Talking Points: Addressing Friction in Underwriting, Submission, & Distribution with Salesforce & PS Advisory - Google Docs

Talking Points: Addressing Friction in Underwriting, Submission, & Distribution with Salesforce & PS Advisory I. Underwriting Friction Points ● Manual Data Entry = Waste: "Underwriters spend too much time on manual tasks like re-keying data. That's wasted talent and contributes to the Friction Gap." ● Inconsistent Application of Rules: "Without automation, underwriting guidelines are applied inconsistently. This increases risk and leads to poor outcomes." Lack of a Holistic View: "Underwriters often lack a complete view of the customer and their risk profile, hindering informed decision-making." ● Time Spent is Key: "If underwriters spent more time looking at the risk and less time on the paperwork, expense ratios would fall and loss ratios would improve" II. Submission Process Friction Points ● Email Dependence = Chaos: "Existing e-mail for submission processes creates chaos and bottlenecks. Information gets lost, follow-up is difficult, and it's nearly impossible to track." ● Lack of Standardization: "Inconsistent submission formats, missing information and manual processes lead to delays and back-and-forth communication with producers." ● Slow Turnaround Times: "Slow quote turnaround times frustrate producers and drive business to competitors. Speed is critical." ● Missed Opportunities: "Good business passes you by when the underwriter doesn't have the time to review the submission in a timely manner." ● Data Quality is Crucial: "Every risk starts with a submission and if the data quality is low, it can have an impact on the life of the policy" III. Distribution/Producer Management Friction Points ● Poor Communication: "Lack of real-time communication between underwriters and producers leads to misunderstandings and delays." ● Lack of Transparency: "Producers lack visibility into the status of their submissions, leading to frustration and dissatisfaction." ● Inconsistent Experience: "Producers experience different levels of service and support depending on the underwriter or region, creating an uneven playing field." ● Retention is Key: "Keep the Producer happy as the cost of losing producers is high"

● Lack of Empowerment: "Provide tools that producers can use to manage submissions effectively." Salesforce Solution - General Themes ● Automation is Key: "Salesforce automates manual tasks, freeing up underwriters to focus on higher-value activities." ● Centralized Platform: "Salesforce provides a single, centralized platform for managing the entire submission and underwriting process, managing data/processes across systems." ● AI-Powered Insights: "Salesforce AI provides insights into risk profiles, enabling more informed underwriting decisions." ● Improved Communication: "Salesforce enables real-time communication and collaboration between underwriters and producers." ● Improved management insight: “Management need insight into how books are developing, producer effectiveness, how pipeline is growing and operations are functioning, Salesforce provides all of that.” PS Advisory's Value Proposition: Salesforces secret weapon for implementation success ● Industry Expertise: "We deeply understand the insurance industry and the specific challenges within underwriting, submission, and distribution." Salesforce Implementation Expertise: "We are experts in implementing Salesforce solutions that address these specific friction points." ● Friction Gap Methodology: "Our Friction Gap methodology provides a structured approach to identifying and eliminating inefficiencies." ● Proven Results: "We have a track record of delivering measurable results for our clients (LWCC, N2G)." Key Questions to Spark Conversation ● "How much time do your underwriters spend on manual data entry?" ● "Are you confident you're capturing all available business?" ● "Are your producers happy with your current process?" PSA Contacts ● Andrew Bartels: [email protected] , 443-742-4672 ● Bruce Olson: [email protected] , 303-775-7117 ● Tom King: [email protected] , 973-747-8703