{"id":22881,"date":"2024-12-07T02:11:08","date_gmt":"2024-12-07T02:11:08","guid":{"rendered":"http:\/\/www.thinkadvisor.com\/2024\/12\/06\/5-keys-to-building-a-successful-business-process\/"},"modified":"2024-12-07T02:11:08","modified_gmt":"2024-12-07T02:11:08","slug":"5-keys-to-building-a-successful-business-process","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/12\/07\/5-keys-to-building-a-successful-business-process\/","title":{"rendered":"5 Keys to Building a Successful Business Process"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/908992109\/0\/thinkadvisor.jpg\"><img decoding=\"async\" src=\"https:\/\/feeds.feedblitz.com\/-\/908992109\/0\/thinkadvisor.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2022\/05\/02_Technology_Gears_Compliance_Strategy_Shutter_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><!----><!----> <\/p>\n<div data-v-3b62a44e readability=\"10\">\n<p>Innovation isn&#8217;t necessarily at the forefront of the concept, which doesn&#8217;t push the product to the next level, despite the technological advancements.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"11\">\n<p>We wanted to challenge the status quo of what the term life insurance application process should look like and, as a result, truly reimagine what not only we could do for our clients but the larger industry itself.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"11\">\n<p>This thought process was driven home through an integration of multiple business units, including IT, distribution, operations and underwriting.<\/p>\n<\/div>\n<p> <!----> <\/p>\n<div data-v-3b62a44e readability=\"12\">\n<p>When a diverse group of departments come together and ideate, the resulting product can reshape the industry.<\/p>\n<h2>3. Don&#8217;t be afraid of the moment.<\/h2>\n<p>Our digitized platform was the first of its kind in the U.S. term life insurance market and was essentially launched during the peak of COVID-19.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"9\">\n<p>The industry wasn&#8217;t able to operate under normal circumstances during the pandemic, because agents weren&#8217;t allowed to visit homes or prioritize getting exams completed.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"14\">\n<p>Looking back on it, it was a scary moment to dive head first into but the risk taken of launching a system during the pandemic turned out to be for the better and changed the way that life insurance applications look today.<\/p>\n<h2>4. Prioritize consumers and agents.<\/h2>\n<p>When thinking through the steps you need to create a successful business application, understanding your target audience is critical.<\/p>\n<\/div>\n<p><!----> <\/p>\n<div data-v-3b62a44e readability=\"9\">\n<p>We wanted to build a platform that made the process easier and more comfortable for agents and consumers, who in turn could secure a term life insurance policy more efficiently.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"10\">\n<p>That kind of mindset of remembering who your audience is helps you stay on track with meeting your objectives for that specific project.<\/p>\n<h2>5. Constantly reflect and improve.<\/h2>\n<p>No process is ever going to be perfect.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"9\">\n<p>Whatever project you are working on, you should always make time to listen to constructive feedback from your colleagues and customers.<\/p>\n<\/div>\n<p><!----> <!----> <\/p>\n<div data-v-3b62a44e readability=\"10\">\n<p>The more that you are open and willing to receive feedback, the better that you will be able to not only improve upon your recent work, but you&#8217;ll also continue to develop stronger relationships.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Innovation isn&#8217;t necessarily at the forefront of the concept, which doesn&#8217;t push the product to the next level, despite the technological advancements. We wanted to challenge the status quo of what the term life&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/12\/5-keys-to-building-a-successful-business-process.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22881"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22881"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22881\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22882"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}