Jennifer: Good Afternoon and welcome to the second in our series of videos showcasing the work that we've done around our recent healthcare Vlocity practice launch.
And we had a hackathon to workshop accelerator packaging around some of the biggest challenges that the healthcare industry is facing today. And with us is the winning team that did some work around small group shop and enroll insurance. And so, I'm going to go ahead and hand the relay immediately off to our director of product development, Santosh Naladkar, who's going to get us started by introducing the team and say a few words.
Santosh: Yeah. Thank you, Jennifer. Hello everyone. This is Santosh Naladkar. I'm currently leading the Vlocity practice for MASTEK. So as part of yearly hackathon, this year we targeted to build some use cases around healthcare and life science domain. So, we've built various use cases and shop and enroll is one of the use cases where we want to showcase how Vlocity also known as Salesforce industries can build, leverage, or to build something out of the box in no time and faster time to market. With that I'd like to introduce the team who has worked and understood the technology to build this accelerator for our client or prospects.
Blake, please take it forward and show the core demo and show the value additions, what we did for this accelerator.
Blake: Awesome. Thanks for Santosh. I'm excited to meet with everybody today to review our hackathon project, which was the small group shop and enroll process.
So, the challenge when it comes to shopping experiences for insurance products, specifically health insurance for small groups is that they can be really complex, have lots of friction, and it can be difficult for customers to be able to go through and compare plans and select coverage options. Because of this, it reduces conversion rates and overall customer satisfaction.
It can be a pretty challenging, frustrating experience. So that's kind of looking at it from the customer side. From the business side, having a lack of integration between your shopping experience, your different product catalogs rating engines, and your back-office systems can create thousands of hours of manual work, increase the time, cost, and challenges of issuing and maintaining those benefits for your clients.
And so, using Salesforce Omni Studio, often referred to as Vlocity customers can shop and enroll in a plan that best fits their needs. And there's multiple ways that they can do this. One of the things that's great about Vlocity is, it takes an omni-channel approach, meaning there's different ways that we can use these different components that we're building. In our particular hackathon use case we did this by building a process that can be done via a customer support agent over the phone, but we were also able to leverage that same process and create a version that can be done as a self-service option through our customer portal.
And using Salesforce industries also knows Vlocity, the internal product teams can create and maintain different product pricing and benefit details. Basically, allowing them to customize their plans, to customize their coverage options, select how that affects the ratings and basically manage all their plans in one convenient location.
So, the benefits from using this out of the box Vlocity functionality is that the solution will save a lot of time for the consumer and will be a much better customer experience overall.
And we all know happy customers is always a great thing. But because of this and making it a seamless process, it actually increases plan sales and can save money by reducing the customer support costs. Especially where we can start providing some of these self-service options.
One of the things that's great about Omni studio and Vlocity implementations is that they can be built in a modular way. So just like I mentioned, you can, use the aversion for the internal customer support teams. We're able to modify that and make a copy that could be re-used for our customer facing portal.
Because of this, that really reduces development time. Being able to build in that modular way, we can take pieces and parts, copy, and paste and combine them together and, create quicker implementations for customers, which means faster times to value and quicker returns on their investment.
So, in our particular use case, we were looking at how can a user go through shop for plans, compare them, select the plan, and then enroll in that plan. And our particular use case we're looking at small group health insurance plans. Vlocity comes with a lot of great prebuilt templates and libraries.
So just like you're going to see today for small group, this can be applied kind of downstream to smaller situations like individuals. And it can also be moved upstream to organizations as large as 500 employees. And like I said, the way we've built this out, we've done it in a way where it can be done over the phone through a customer support agent or online, through the customer portal.
So here we've got basically just some slides to show the demo of what we have created for one of our clients.
So, this is the homepage of our Salesforce community, and they can come in here and select, create a quote. And that's going to launch, what's called an Omni script and this Omni script, think of it as a guided process. It's a guided flow that we want to take, these customers through in order to provide them with a quote.
So, the first step in this process was gathering information about the customer. Typically, with small group, we're working with small to medium-sized businesses. So, in this case, our group is, our company MASTEK.
So, we gather the information about the company, gather the information about our contacts at the company, what their role is and when they want the effective date for this insurance policy to be.
The next piece of the process is we've got to collect the information about who is going to be insured by this product. And we do this by building a census. And with Vlocity, there's two ways we can do that. You can go through and manually add each employee and their dependents or what we've built out here and what most people will do in a small group setting- actually give them the ability to upload a spreadsheet file so they can get all the information about their employees and their dependents and details that are required to quote this plan out like, their date of birth or, or it could be a smoker status.
We've got the ability to do rating based off other details like that. So, once we take this file, we can upload that here into our census. And once that's uploaded, we'll be able to go through.
This is just a screen displaying, how we match those fields. So, they go to the right places inside Vlocity.
Once that is uploaded, we can go through and select the different plan types that we'd like to get a quote for.
In this hackathon we actually focus specifically on medical insurance products. But this is where if you're health insurance broker or health insurance company, you can add other lines of business, like vision, dental or even life and other types of insurances.
So, in our case, we would select the medical insurance and that's going to load up a page where we'll be able to go through and see different plans. And you'll notice, on this page it pulls our two available plans and it's actually calculating a price based on our member census. So, these are very smart, accurate quotes. This isn't ballpark quotes. We're pulling in the actual user data and running that through our back-end rating engine that will generate the prices that will be available to view on this screen.
From here, you've got the ability to click in and compare plans. So, if you select the little check box there that says compare, it'll give us an option to pull up multiple plans and you'll be able to view them side by side.
How do these plans compare when it comes to the most common things that people are looking at? Like the deductible? Out-of-pocket maximum? Or office visits? But it also gives us the ability to drill down into any of these attribute categories to get an understanding of what the costs will be and how these different plans compare to each other.
One of the challenges in the insurance world is being able to do this. I know a lot of people take side-by-side comparison is kind of something for granted, but I've actually seen now that I've been working in the industry there are many companies out there that don't have the ability to give this side-by-side type of comparison.
And with Vlocity, we can do this out of the box. All we've got to do is configure products and set these values. And this will allow all your customers to come in and do very effective side-by-side comparisons.
So, in our example we would go ahead and select a plan. And from here, we'll be able to see a summary of kind of the high-level information about this plan, what our monthly costs will be, deductibles, out of pockets, those types of things. And then from here, we can actually create our quote, and this is something that; they get saved. As a consumer, I can come back and view this quote later. Or what can be done as the next step in this process; in the hackathon, we kind of focus just on the quoting part, but from here, the user would be able to take this and actually finish the enrollment process. We've got screens just like we've displaced. So far that will go through and collect any of the additional details required to actually enroll in this plan.
And then we'll actually generate the documents and everything necessary to complete the enrollment.
So that's just kind of a high-level overview of our hackathon process and, and what we did to build an out of the box, shop and enroll experience for small groups.
So yeah, thank you for letting me share that.
And Jennifer, I'll turn it back over to you for any questions.
Jennifer: Thank you, it's actually a really, really brilliant presentation.
The one question that I have for the group would be, how can this kind of technology be? Is it easy to scale? Add different modules on different functionalities and also how easy is it to adapt Vlocity with health cloud, into different scenarios? For example, we see a lot of movement in the industry. Now, a lot of organizations are adding Medicare practice to their suite of offerings, but they're looking for ways to do that's easy for members to understand and enroll. As we know, Medicare can be a very complicated process in dealing with seniors, that's even more challenging to get them to understand. So how does this kind of technology make something like that easier? How can it adapt to different kinds of scenarios beyond just small group shop enroll?
Blake: Yeah, absolutely. I'll go ahead and take that one.
So, one of the things that's so great about Vlocity is that it is modular. Like I mentioned, we were able to take this process, use it internally and then just spin it around and use it externally.
So, there are lots of cases like that, you can kind of get the benefits of reusing different pieces and parts that you build. The second piece of it is the Vlocity process library that you get access to with your Vlocity license. Salesforce spent almost $2 billion to acquire Vlocity. And one of the most valuable things about the company is not just the software but it's the industry leading best practices that they have baked into their process library. So, there are many templates and almost think of it, kind of like a starter pack for a lot of the most common scenarios that you would see.
So, in our case where we're looking at health insurance, they've got some great solutions for Medicare shopping and enrolling. We looked at the small group shop and enroll, but there's also individual shop and enroll and large group shop and enroll. All these things come as templates that you can use to get up and running.
And my advice to clients, when we're doing these Vlocity implementations, is to always leverage those best practices. You know, there's a reason that Salesforce spent so much money on this company and one of the biggest reasons is all of these best practices.
So, I always recommend that we take a development approach of, let’s go 80 to 90% out of the box following the industry best practices and take maybe 10 to 20% to customize it to your exact business and make it your own. But take advantage of these templates. There's no reason to build something from scratch and spend probably five to 10 times the amount of money building something from scratch versus taking a template that has those best practices built in and then customizing a little bit too to make it your own.
Jennifer: That's pretty incredible. I don't have a lot to add to that one.
Venkat, keeping all that he was saying in mind, in terms of faster time to value and some of the modular and iterative ways that we can spin this out very quickly how attractive or how powerful the tool is that going to make it for this industry?
Venkat: So, I think, given the time to market pressure, which the companies have, I think this is going to be really attractive because it can develop it pretty quickly.
The other thing is that Blake has shown the comparison of the different pricing and the plans and what the benefits they offer, which probably sometimes will become very confusing if you can compare multiple plans so that you can identify the best one that suits your company- it will be useful.
From the industry perspective, the brokers or even the ex-changers where you want to display different plans for small groups or individuals, and this particular tool will be extremely helpful with.
Jennifer: Yeah, that's really excellent. So, we're excited to keep on developing these kinds of accelerator packages. So, I think we're actually good for us. Great stopping point. I'm going to just let you viewers know that if you have any questions at all, there's going to be a comment box or a contact us section; you can go ahead and send us any questions you have, and we will find you the answers.
There'll probably also be some additional resources below for you to explore more and find out more about not only on our own recent launch of our practice in health care, but also some details about Vlocity. And it's a very, very, very powerful tools and resources that can make big differences. And how quickly you're able to implement new technology. So, I want to thank you for joining us. Thank you. Wonderful panelists for coming on and sharing this really great and vital work you're doing.