Within the insurance industry, there are two critical needs: exceptional customer experience and the ability to offer complex, highly personalized product offerings. The Standard, a family of insurance companies dedicated to helping people achieve financial well-being and peace of mind, addressed these two needs by implementing a highly functional and adaptable Configure Price Quote software.

In the days prior to cloud capabilities, implementation was a frightening endeavor, riddled with complexities, pitfalls, and delays. Even now, with the aforementioned pain removed from the process, having a plan for success will make the overall implementation more effective. Here is a look at 3 key lessons from The Standard’s recent implementation of Apttus Configure Price Quote software:

Price Quote Software1. Don’t underestimate the complexity of generating a proposal or contract.
The more rules you have in the configuration or pricing tool, the more complicated everything else becomes. From a testing perspective, it is very easy to end up with a process that expands exponentially. To mitigate the risk of unforeseen complexity derailing your implementation, fully map all of the business rules that will impact contracts and proposals before starting your implementation.

  2. Go in with a minimum viable product (MVP) mentality squarely focused on user adoption.

Recognize that you are going to continue making improvements after the initial implementation. Engage with the end users pre and post launch, and use their feedback to build a backlog of enhancements. Most importantly, make a public commitment to keep improving and stick to it.

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3. Have your customer’s experience in mind when designing your ideal future state.
Price Quote SoftwareSustaining customer loyalty depends on the ease of doing business with you. Create a frictionless experience for the users, customers, and partners who will prepare, generate, sign, approve, and handle your proposals and contracts. Even if it is a loose description, having an idea of this frictionless future state will influence your initial implementation.

If you’d like to learn more about The Standard’s implementation, about Apttus Configure Price Quote software, get in touch with Bluewolf experts.

MYTHS, PITFALLS, AND REALITIES OF CPQ

Don’t let your CPQ project end up costing too much or taking years to go live. Make sure you are aware of the numerous hazards that can have a significantly detrimental impact on the implementation and success of a CPQ tool. Read this guide now to ensure a successful selection and deployment of a CPQ solution.
Myths CPQ

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