Presentation on theme: "HSBC BANK – A FEW FACTS WHO WE ARE HSBC Bank is one of the largest banking and financial services organizations in the world, with well established business."— Presentation transcript:
1 The World’s Local Bank Roberta Mitchell HSBC Insurance Agency (USA) Inc. Keeping It Simple at HSBC!
2 HSBC BANK – A FEW FACTSWHO WE ARE HSBC Bank is one of the largest banking and financial services organizations in the world,with well established business in Europe, the Asia-Pacific region, the Americas, the MiddleEast and Africa.HSBC Holdings plc is incorporated in England with the head office in London.HSBC Bank has an international brand, describing our unique characteristics by the words,The World’s Local Bank.ASSETS US $ 2,354 billion at 31 December 2007 an increase of 27% since December 2006PROFITS (PRE-TAX) US $ 24.2 billion for 2007, 10% increase over 2006.INTERNATIONALPRESENCE Over 10,000 offices in 826 countries worldwide.STAFF More than 280,000 employees worldwideCUSTOMERS Approximately 125 million worldwide, with total e-customers of over 35 million.
3 HSBC INSURANCE AGENCY (USA) INC A wholly owned subsidiary of HSBC Bank USA, NADistributor of individual & group life, health and annuity products forapproximately 20 carriers.Support the sale of products by approximately 1,200 licensedRepresentatives in over 600 bank branches in the USAgency Operations Team composed of 18 employees in New CastleDelaware and 10 employees in Hyderabad India.Managed within HSBC Insurance Services, NA with over 400 employees.Contribute to objective of generating 20% of global HSBC Bank profit frominsurance revenue by 2010.
4 HSBC Bank USA, NA Environment: Transaction basedLayers of system platformsFocus is on needs based solutionCompetitive shelf spacePaper fulfillment
5 HSBC Insurance Agency’s Solution: Provide a positive sales experienceProvide seamless integration with Bank systems & Banker’s desktopReal time state licensing validation and carrier appointmentCurrent carrier forms bundled for ease of access by AgentSOLUTION: APPLICATION MANAGER
6 APPLICATION MANAGERA tool that is integrated with the Banker’s Desktop providing the following:A customer contact database for all life and annuity sales input intoApplication ManagerReal time state licensing validation with carrier/product selection basedupon Carrier Appointments and Product PortfolioOne view for the Agent of all life and annuity pending cases input intoElectronic online application forms for Carriers in Product Focus Listwith consistent use of current carrier application forms!Carrier pending case updates directly from the life insurance carrier’ssystems, providing current updates of pending requirement and statusupdates for life cases in a consolidated case summary view.
7 APPLICATION MANAGERBenefits to the Financial Advisor:Ease of useContact Management ToolCompliance check for licensing and appointmentConsolidated view of pending activityConfidence of always having the most current carrier forms within aclick of the mouse!
19 NOW LET’S TALKABOUT WHAT’S HAPPENEDBEHIND THE SCENES!
20 DEVELOPMENT OF LICENSING DATABASE Using Smart Integrator, converted over 3,000 Advisor recordsfrom an Access Database to the Licensing Module in Smart OfficeForms the basis of the online compliance check for ApplicationManager
21 SYSTEMATIC PENDING CASE UPDATES VIA DATA EXCHANGE Web Portal through which daily updates are received from life carriersof pending requirements and status informationHSBC Agent has access to current requirements and statusInformation on Application Manager Pending Case Summary Screen,INTEGRATION WITH AGENCY’S IMAGING SYSTEM VIASMART CM ICONAgency Ops User links to imaged application documents by clickingon Smart Office desktop icon. Search is by HSBC index values.
22 INTEGRATION WITH BANK’S ADMINISTRATIVE SYSTEM Daily batch integration with RIS (Retail Investment System) to processlife & annuity transactions through the Bank’s Administrative SystemsProvides integration with Callidus for commission processing for theLicensed Agents in the US Bank Branches.CARRIER CASE SUBMISSIONSecure FTP transmission of signed applications to carrier.Index values are provided for each application packet.Upon receipt by carrier, confirmation received from carrier.
23 LAUNCH STRATEGY: TESTIMONIALS: FIELD ADVISORY GROUP ESTABLISHED COMMUNICATION PLANPILOT LAUNCHED 11/19/2007TESTIMONIALS:“…In my opinion, the benefits of Application Manager) are the easilyaccessible way to get to the forms that we need. It has made thebusiness that we do more efficient. It has also cut down on errors andforms that are outdated. I would highly recommend the use of thisapplication throughout HSBC…”. M Girone, Financial Advisor“…It is a great tool and should be pushed out to the field…”. A Leon, FinancialAdvisor
24 NEXT STEPS: OPPORTUNITIES: Rollout of Application Manager to 600+ Branches in HSBC Bank USA, NAWeb-ex training for rollout to 250 Financial AdvisorsOPPORTUNITIES:Auto-data population from Laser App into Pending Case RecordDeployment of electronic signature pads in BranchesMapping of customer & agent signature to Laser App formsRetention of signed images of completed applications as .tif imagesand systematic transfer to Agency’s imaging system
25 CREDITS APPLICATION MANAGER PRODUCED BY: HSBC BANK USA, NA IN ASSOCIATION WITH EZ-DATADIRECTED BY: JOHN PIRRAGILAHENRY KOAMARILOU SULLIVANPATRICK COZZAPRODUCED BY: MUTHU ARUMUGHAMVENUGOPALGANGADHARANTOM LE BLEUTIM ABEL