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Driving Down CombineD ratios

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Panopto creates software that enables businesses and academic institutions to record and view searchable video presentations in minutes from any device. Businesses can use Panopto to record and live stream:

Employee training and onboarding video

Review, recap, and summary communications

Product demonstrations All-hands meetings Sales and marketing

presentations Web conferences Executive communications Events for customers, press,

and investors

Panopto also enables individual employees to record and share videos in a secure, centralized video library. This facilitates:

Social and informal learning Capturing the knowledge of retiring employees Sharing knowledge across a global workforce

Panoptos video library includes unique search functionality that enables employees to search inside videos for any word mentioned or shown onscreen during a video.

Panopto is currently in use at Fortune 500 companies around the world and is the fastest-growing lecture capture solution at leading universities. Privately-held, Panopto was founded in 2007 by technology entrepreneurs and software design veterans at Carnegie Mellon Universitys School of Computer Science.

Panopto was recently recognized by Gartner as a Leader in its 2014 Enterprise Video Content Management Magic Quadrant. Learn more at http://panop.to/gartner-leader.

Want to try Panopto for yourself? Visit www.panopto.com today for a free 30-day trial or to schedule a demonstration of our software.

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An Essential Industry Challenged To Meet Rapid Evolution ............................. 4

How Modern Insurance Carriers Are Using Video To Gain Market Advantage ... 5

Documenting Claims ......................................................................................... 5

Capturing Employee Expertise .......................................................................... 5

Scaling Training Efficiently ............................................................................. 6

Cross-Departmental Knowledge Sharing ......................................................... 7

Broadcasting Consistent Channel Communications ...................................... 8

Marketing Communications That Make A Difference ...................................... 9

Internal Corporate Communications That Get Attention ................................ 9

Facilitating Legal eDiscovery ............................................................................ 10

Maintaining a Central, Secure Library of Video Assets ................................... 11

What To Look For In A Video Platform For An Insurance Organization ................ 12

In 160 Words: Panopto Helps You Drive Organizational Efficiency With Video .... 16

Get Started With Video In Less Than One Day ...................................................... 17

OVERVIEW

How todays Insurance carrIers are

wItH VIdeoDriving Down CombineD ratios


An ESSEnTIAL InDUSTRY challenged to Meet rapid evolutionTodays insurance companies are in a difficult spot.

The rash of catastrophe incidents seemingly every year so far in the new millennium has forced carriers to revise CAT savings budgets upwards, putting new pressure on cost management.

For property and casualty carriers, the e-commerce success of a number of direct writers upended the traditional independent and captive agent channels alike, pushing large and storied organizations to either compete for smaller markets or make significant, difficult business changes to chase profitability.

Meanwhile, health insurance organizations in the US have been tasked with responding to the new business climate created by the Affordable Care Act not least of which has meant monitoring every last legal battle for each and every change to what is or is not supported.

As a whole, the agency channel as a demographic continues to age making continuity a concern and opening the door to a new wave of agency networks and consolidators rapidly reshaping the face of the insurance agency business.

And all that is on top of an already exceptionally complex, often arcane system of regulatory bodies, legal precedent, and governmental oversight.

The insurance industry provides a product that is absolutely essential to helping people recover in the event of an injury or loss. But thanks in part to all that oversight, all those requirements, and the massive cost of change at scale, rare is the individual who considers their insurance policy an engaging read.

Technology is changing the face of the modern insurance industry.

service and expertise are as important as ever and now come in a whole new form.


How MODERn InSURAnCE CARRIERS are Using Video to gain Market advantageCosts rising. Workforce aging. Brands muddled by political red tape. In the face of all that, insurance carriers need a tool they can use to gain an edge to create an advantage in a market designed to make it hard to set ones self apart.

And for a growing number of insurers, video is that tool. Heres how modern insurance carriers are using video today:

DoCumenting CLAIMSWhy rely on static images or text descriptions when a rich, detailed video can be shot with the phone in almost anyones pocket? Already insurers are exploring the options for capturing claims information via video, either directly from the claimant through a new wave of smartphone apps, or later, from the adjuster who often finds that even simple point-of-view video shot with a tablet, smartphone, or wearable camera like Google Glass provides a more complete summary of a claim activity than even the most detailed notes.

CAPTURInG employee expertiseAs insurance carriers seek to optimize products in ways that assign the right rate to the right risk, and navigate the increasingly convoluted waters of state-by-state insurance regulation as they do so, more and more daily work inside just about any insurer is now done by specialists. Relying on these experts helps insurance organizations find new ways to build more accurate ratings systems and identify opportunities for improving processes that others may miss. But that expertise comes with a dilemma lose that specialist, and you may well lose the only working knowledge of how an integral component of the company operates.

documenting claims with a level of detail text simply cant match


In an industry with an aging workforce, capturing institutional expertise is quickly becoming essential to continued operations. As the new York Times has noted, many organizations are turning to video to help ensure that critical knowledge is always available inside the organization even if the expert isnt. Video makes it easy for insurers to ask internal experts to document their knowledge showing how a ratings engine works, what factors are included in a coverage matrix, the standard workflow for the claims organizations, the step-by-step user interface for a proposed ecommerce design update, or virtually any other subject. Capturing these explanations with video and sharing them on a central internal video library allows anyone else in the organization to instantly find and reference them so your expertise doesnt walk out the door with your experts.

sCaling training EFFICIEnTLYPerhaps more so than any for other industry, ongoing training is an essential part of operations for most insurance organizations. Be it compliance training to meet industry regulations, technical training on new aspects of a product or business unit, personnel development courses for individual contributors, managers, or executives, sales training for agents or channel managers, or just simple tutorials on office productivity tools, training is an essential part of helping insurers remain competitive and up to date in a constantly changing marketplace.

Yet in a world where expense ratios are always a top concern, corporate learning and

click for a sample internal social learning video

click for a sample employee training video


development can often be a target for cost-cutting. So how can todays trainers help meet the always-growing needs of learners inside the organization without going over-budget?

Video offers a solution. Recording traditional classroom training events and sharing them online reduces the need to repeat those sessions time and again at multiple locations with savings that speak for themselves. After finding that up to 40% of its classroom training costs were spent on travel and lodging, IBM moved half of its training programs to an eLearning format, saving more than $500 million in just 2 years. Microsoft too has found that adopting video as a key means to deliver training content dropped the cost per student of training sessions from $350 to a mere $17. In an industry where success is determined by a few decimal points in a combined ratio, those savings are no small matter.

Further still, the potential savings from video-enabled training doesnt stop at cost alone. With a reduced travel schedule, corporate learning and development teams can more easily scale up their content, and share more training materials than ever before all secure and shareable, and accessible 24/7 for employees to watch anywhere on any device.

CROSS-DEPARTMEnTAL KnowleDge sharingThe nature of business at most insurance organizations is one that leads to fairly separated working teams. Often, claims will be a wholly separate business unit from underwriting, which is in turn wholly separate from product development, and again apart from support functions like IT, HR, and marketing. And all that means when one team has a question for another, often the answers are not readily available.

In the past, insurers have relied on individuals to bridge that gap either by going through official management communications chains, or by making personal connections that could then be tapped for insight. Video offers the opportunity to change all that. Todays insurers are asking employees to use video to document standard working operations and business decision rationales, and storing those recordings in a central video library. This way, teams all across the organization have instant, anytime access to the inner workings of each part of the company

click for a sample departmental collaboration video


helping everyone to better understand the function each role plays, how each department can and should be involved in any new project, and who the right team members are to involve as new processes and programs are considered, to ensure the organization moves forward cohesively.

BROADCASTInG COnSISTEnT Channel CommuniCationsAs the insurance marketplace continues to fragment and evolve, carriers of all stripes have been challenged to find an effective tool for communicating with the front lines. Carriers relying on captive models must find a way to deliver a consistent message to agents in thousands of small offices spread across the country and often around the world. Those relying on independent agents face a similar problem made even more challenging, as the average independent agent works with 10 or more carriers. The need to ensure a message is delivered consistently and professionally is paramount.

In such an environment, video is an easy solution. A modern video platform like Panopto makes it simple to broadcast a message to a large number of agents at once, with live streaming webcasts. Unlike standard webinars that may only reach a few hundred viewers at a time, webcasts can be viewed live by thousands or even tens of thousands of people worldwide and can be made instantly shareable on-demand the moment they are finished.


MARKETInG COMMUnICATIOnS that maKe a DifferenCeOften when one thinks of video and marketing, the traditional 30-second TV ad jumps to mind. Todays insurance carriers have proven no amateur when it comes to video advertising some of todays best, most recognizable spots bear the logo of an insurance company. But ads are just scratching the surface of how savvy insurance marketing teams can use video.

For targeting leads at the top of the funnel, marketers can rely on a video platform to help extend the reach of those television ads making them easy for customers to watch and share on their own all across the web. As prospects move down the funnel and begin the buying process, many marketing teams have found that offering a series of product explainer videos or recorded responses to FAQs engage new leads in a way that 20-page brochures simply dont. The numbers bear it out up to 85% of people are more likely to buy a product if they saw an explainer video first.

And the process doesnt stop once the prospect becomes a customer. As todays insurance organizations take serious steps toward building retention rates, many find that using video to create generic welcome and onboarding messages for new customers walking through whats in a policy document, how to sign up for web service, which phone numbers to call for claims, and other practical essentials helps ensure customers feel taken care of as part of the buying process.

internal Corporate CommuniCations THAT COMMAnD ATTEnTIOnMany of todays insurance carriers are big companies with big communications needs. Benefits, quarterly business updates, organizational news and announcements, training schedules, investor news, messages from the CEO, and dozens of other subjects routinely call

FaQ and explainer videos are an easy way to help new and returning customers understand

and use your products and services


for the attention of your employees. For many insurers, its a tough task just to schedule all those internal communications activities and a growing number of employees just dont seem to have time to read them all.

Video can help internal communications messages break through in an engaging format that employees will notice. Forrester Research reports that employees are 75% more likely to watch a video than to read a message in text. And not only does video help encourage more of your team members to see your message it helps you see whos paying attention. With video analytics included, modern video platforms like Panopto make it a snap to see exactly who has or hasnt watched a given recording, as well as whether each viewer watched the video in full or stopped short.

FACILITATInG legal e-DisCoveryIts a litigious world, and modern insurance organizations often bear the brunt. Be it complaints about a claim, a coverage, or a companys compliance with regulations, most insurers are served with new lawsuits at an almost-daily pace.

eDiscovery has been a boon for most legal professionals in the insurance space as documents are made digital, researching the exact wording of a policy in question requires little more than a quick search. Video, however, has changed all that. Without the ability to search the actual content of a video, legal professionals are forced to simply sit and watch all recorded content to ensure nothing improper has been communicated. Its a long process and gets expensive in a hurry.

click for a sample corporate communications video

click for a video demonstration of how panopto searches every video in your library for any word

spoken or shown on-screen.


But a new wave of video technology is changing all that. With Panopto, companies can search the actual content inside their videos. For every video in an organizations video library, Panopto indexes every word spoken, every word that appears on-screen, and every word that is included in presentation slides even speakers notes. With Panopto, eDiscovery is easy again even for video content.

MAInTAInInG a Central, seCure library OF VIDEO ASSETSno matter how any insurance carrier uses video most often, in the end, nearly every one creates a robust library of video files in the process. Panopto is the only video platform that integrates best-of-breed recording and webcasting with a secure video library. All of your Panopto recordings and live webcasts are automatically uploaded into the library and converted for optimal viewing on any computer, tablet, or smartphone. Pre-recorded videos can also be uploaded and converted for playback on any device.

And as the video library grows, Panopto provides a unique video search engine that makes finding information inside your videos as easy as searching for content within email and documents. Simply enter a phrase or world like Compliance into Panoptos video search engine youll find every relevant recording in your collection and be able to fast-forward to each point in your videos where the term is mentioned. not only can comprehensive video search help your people find what they were looking for more quickly it can also help them find recordings they didnt even know existed.

click to learn more about how a vcMs works


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what to looK for in a Video plaTform For an insurance coMpanyAs video becomes ever more integral to how insurance organizations communicate, teach, and share ideas and information, many are finding that now is the right time to review how theyve managed video content in the past and how they plan to manage it in the future.

Thats because video is unlike any other content:

Different video recorders often produce different types of video files many of which cannot be played back on other devices

Video files are significantly larger than text documents and can quickly exceed maximum file size restrictions on common content management systems

And video files are traditionally impossible to search, limiting the value of any recording to only those who already know what topic the video covers

The growing prevalence of video has prompted Forrester Research to recommend organizations Plan for video content, not just videoconferencing. Doing so, contends Forrester, offers the promise of a variety of rewards, including reducing the cost of meetings and events, improving training and executive communications effectiveness, driving remote employee engagement, and encouraging social learning and sharing best practices.

Delivering those returns starts with finding the right video platform and that, in turn, starts with asking the right questions. Every organization will have its own list of video must-haves; here are 10 items to consider when your organization drafts yours.

are all spoken and wrItten words automatIcally Indexed for searcH?In the insurance industry, its not uncommon for compliance training, process demonstrations, or conference videos to run 30-60 minutes or longer. That means being able to find and fast-forward to specific moments is essential. Youll want a video platform that searches not only by title and description, but that can actually index any word spoken or shown on-screen in the video, and allow viewers to instantly fast-forward right to the exact relevant moment.


wHat steps must a user take to record a VIdeo,tHen sHare It wItH tHe Intended audIence?There are two simple requirements for virtually every organizational video. First, it must be recorded. Second, it must be shared. And while that may sound straightforward, many video platforms simply dont fully support video workflow meaning what should be an easy, seamless process may end up requiring additional software, added support, and a steep learning curve for new users.

Ideally, you want an end-to-end solution that runs on any computer, recognizes any and all recording equipment, and automatically takes care of the technical video management steps meaning your employees will be able to simply click record, capture their video, and click stop, while the video platform takes care of the rest.

wHat Hardware Is requIred to record, lIVe stream, upload, manage, and VIew VIdeos?A constant issue in producing video is the ever-growing number of devices for video recording and video viewing, and the wide variety of file types those devices may produce or play. Some video platforms have sought to manage that complexity by requiring specific hardware and limiting the types of devices their systems can work with. In the insurance industry, however, this can create hurdles to organizational video adoption, as this means carriers are forced to either purchase compatible recorders for every employee, or manage a limited library of recorders that employees must plan ahead to check out before using. For better results, you want a video platform that can support virtually any video or audio recording device from HD camcorders to inexpensive webcams and even specialty recorders.

For video management, editing, and playback, meanwhile, availability is the key feature. Web-based tools that run in any web browser tend to be easier, more flexible options. And as mobile recording and viewing becomes more commonplace, youll also want to consider the availability and functionality of the video platforms native mobile apps.

wHat steps must a user take to lIVe stream a presentatIon?Live streaming video of a conference, simulation, or presentation are quickly becoming essential for training and communications. But as organizations seek to broadcast events, announcements, and even internal meetings in large organizations, many have found themselves exceeding the maximum audience capacity for traditional video conferencing solutions.

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Webcasting offers a solution the ability to live stream a presentation over the web, to an external or internal audience of thousands or even tens of thousands. But not every video platform offers webcasting as a standard feature, and even fewer include it as an option in the normal video workflow meaning it can be hard for first-time users to find and take advantage of. Be sure to check with your video platform options to see exactly how each enables webcasting, and how much work is required to set up each live broadcast.

How many VIdeo Inputs can be sImultaneously recorded?When it comes to insurance products, coverage algorithms, and agency services, many concepts simply cant be captured with a single viewpoint. Whether its a rating system logic demonstration, a field service or support training video, a multi-person conference panel, or a number of other potential uses, its helpful to have a video platform that can record more than one stream of video. not all platforms, however, can meet this need.

You want a platform that makes it easy to record video from a virtually unlimited sources recorders plugged into a laptop, mobile devices recording independently, one or multiple computer monitors the more flexible your solution, the better.

can tHe VIdeo platform be extended or customIzed to fIt In your organIzatIons Infrastructure?Today most insurance carriers have developed their own formal or informal workflows for managing video. Without the ability to easily integrate into those existing workflows, any new video platform risks becoming more work for your team and less likely to be used to its full potential.

What you want is a video platform built to integrate with your organizations learning management systems (LMS) and identity providers, and one that includes admin tools and developer APIs for extending and customizing the video platform further.

wHat elements are Included In tHe VIdeo platform, and wHIcH must be purcHased as add-ons?Total cost of ownership (TCO) is a concern for virtually any technology youll purchase, and video platforms are no exception. Some platform solutions offer an impressive feature list, but force customers to purchase each as a separate add-on to a much more basic set of core capabilities.

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Every organization has different priorities in managing total cost of ownership. For most, a single comprehensive solution for capturing any kind of video, streaming live events, and managing videos in a secure, searchable library will offer the greatest ROI.

How does tHe platform protect agaInst outages and system faIlures durIng recordIngs & eVents?no provider, no server, and no data center is immune to outage in some form. When bad things happen, whether its a power failure, a network outage, hardware crash, a blue screen, or a misbehaving driver, you should expect your video platform to have a plan in place to prevent data loss.

Ideally, you want a platform that relies on geographically dispersed redundant servers to protect against server issues, and failsafe recording features to protect against problems on local machines and ensure interrupted recordings are repaired and restored as quickly as possible.

can tHe platform scale wItH ongoIng growtH and spIkes In user demand?Video is only just reaching the tipping point in most insurance organizations. Virtually every technology analyst expects the total amount of video organizations produce and consume will increase exponentially in the coming few years which means any video solution you buy today will need to scale to meet your needs tomorrow.

With a video platform, scalability applies to a number of elements in the system, including: web servers which require scalability to accommodate increasing HTTP requests, encoding servers which need to scale as more and more encoding jobs are submitted, and data scalability to accommodate a rapidly increasing amount of video storage. Youll want to be sure your platform options can account for each of these factors.

are tHere natIVe mobIle apps tHat proVIde support for VIdeo searcH and VIewIng?More and more insurance professionals are using tablets and smartphones to view video. With trends like bring your own device (BYOD), flex time, and a host of other modern working arrangements, enabling mobile access to video viewing, sharing, recording, and managing absolutely essential.

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Your video platform needs to make sure youre covered. At a minimum, every video uploaded into your video content management system should be encoded for playback on mobile devices. Ideally, your platform should include native mobile apps for both iOS and Android, providing support for your team to view and search your videos from anywhere.

in 160 worDs: panopTo Helps YoU drive organizational eFFiciency with videoEfficiency is the key competitive advantage in todays insurance marketplace. More scalable training can drive down expense ratios. More engaging communications can help boost channel sales. More precise rate modeling can open the door to more optimal new business and encourage the right renewals. In an industry where every tenth of a point in your combined rate is essential, finding a tool that can help you enhance organizational efficiency may be the key to maintaining profitability and enabling future investments.

Panopto is a video platform that enables you to incorporate multimedia presentations, live broadcasts, and other video content into your communication, documentation, and training strategies, helping your technology organization operate smarter, act more productively, and scale more efficiently.

named a Leader in Gartners Magic Quadrant for Enterprise Video Content Management and commended by Forrester for the best support for video search, Panopto makes it easy for your organization to record anything and find everything.

For more, visit www.panopto.com.


Fill out a free trial form at panopto.com/free-trial/ or give us a call at 855.PANOPTO

Our team will contact you to discuss how youd like to put video to work in your organization, and help you determine if Panopto would be a good fit

Well set up your video platform site with you that same day, help you brand it for your organization, and include a set of welcome and how-to videos for first-time users

From there, youll be ready to go! Youll have complete access to upload existing videos, record new videos, share and view recordings, and search your videos for specific details

get starteD in less than 1 Day

white paper - 9 ways insurance carriers are driving down combined ratios with video - panopto video...

Recruiting & HR

video platform

centralized video library

searchable video presentations

onboarding video review

secure library of video

marketing communications

modern insurance carriers

insurance organization