E-Learning: Online Training for Field Agents

August 27, 2003

Abstract

New York, NY, USA August 27, 2003

Celent estimates that usage of e-learning tools by insurers for field agent communication and education will nearly double to 90% by 2006.

Computer-based training, or CBT, has long been used to train insurance carriers' employees and agents. More recently, insurers have been actively focused on utilizing Web-based tools to communicate with and educate their agents. In a new report, " ," Celent examines the best practices for selecting and implementing Web-based collaboration tools for use with field agents, as well as potential cost savings, ROI, and a short list of vendors.

"As the number of life insurance agents in the workforce continues to drop substantially, keeping agents happy becomes increasingly important," says Chad Hersh, a senior analyst in Celent's insurance group and author of the report. "By collaborating with agents online to help design new agent software applications, providing training in a way that is respectful of agents' time, and educating agents on more products than might otherwise be possible, carriers create a win-win situation for themselves and their agents."

Celent research indicates that 78% of independent agents are using online learning tools supplied by one or more of their carriers. This suggests that agents are certainly willing and able to use these tools. The tools are also easy to implement and relatively inexpensive. Celent expects that their use by carriers will nearly double, from a current 50% to 90% by 2006.

Four vendors of online tools for communication and collaboration are profiled in the report. Market leaders WebEx, Microsoft (formerly PlaceWare), and Raindance are included, as well as Brainshark, a vendor focused on distribution channels in financial services.

Celent believes that carriers who do not use e-learning tools are leaving money on the table. These tools offer outstanding opportunities to achieve strongly positive ROI with minimal payback periods. Celent further believes that failing to correctly leverage these tools will result in a negative ROI, as evidenced by the included case study.

The 26-page report contains 2 figures and 4 tables.

A is available online.

of Celent Communications' Life/Health Insurance and Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left.  Non-members should contact info@celent.com for more information.

        

Send mail to info@celent.com with questions or comments about this Web site.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

New York, NY, USA August 27, 2003

E-Learning: Online Training  for Field Agents

Return to report Abstract

 

EXECUTIVE SUMMARY 3
INTRODUCTION 4
MARKET ADOPTION 5
KEY FUNCTIONALITIES 6
PAIN POINTS AND ROI 7
  Field Communication and Education Pain Points 7
  ROI of Web-Based Communication and Learning Tools 8
TECHNOLOGY OVERVIEW 13
SELECTED VENDORS 14
  Solution Functionalities 15
  Vendor Profiles 16
CASE STUDY 20
CONCLUSIONS 23
OBJECTIVITY & METHODOLOGY 24

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