The THINK Blog

    3 Client Satisfaction Measures that Consider the Entire Lifecycle of a Customer

    Posted by Natalie Ho

    Mar 25, 2015 8:30:00 AM

    CLIENTSATISFACTIONAs a service oriented business, customer satisfaction is extremely important. I'm often communicating with customers and partners either online, through emails and social media or offline at conferences and events. Because of this I get the privilege to hear firsthand, their experience and feedback. 

    I make an effort to share feedback received (good or bad) with the team, however, these are often subjective, especially when trying to gauge the emotion and sentiment associated to feedback gathered online. When it comes down to measuring just how satisfied our customers are, it becomes a more challenging and thought-out process. One that requires specific measures. 

    I'll discuss the three measures we use to measure Customer Satisfaction: 

    • Customer Satisfaction Survey 
    • Net Promoter Score 
    • Instantaneous Feedback 

    In my opinion, when it comes to measuring customer satisfaction from an aggregate perspective, it is important to consider the stages in which we 'touch' a customer. Most of the reinsurance administration and underwriting services we offer are longer term, which means the duration of time we interact with our customers can span over a number of months or even years. Often times, service providers are keen on conducting an 'end of project' survey to determine the success of the project or customer satisfaction. However, in our scenario, there runs the risk of omitting valuable feedback from the onset of the project through to completion. 

    Therefore, there are 3 types of surveys we conduct to evaluate customer satisfaction that considers the entire life cycle of a customer (and beyond). 

    1. Customer Satisfaction Survey 

    I won't belabor this, I know we've all completed a customer satisfaction survey in some form or another. These are great to conduct on a periodic but regular basis, whether that means every quarter, once a year, or at the end of an engagement. These should include a series of questions that measure quality of your product/service, timeliness of your delivery, staff competency and friendliness, and in some questions, a measure of how you do against a competitor. Therefore, adding bits to do with pricing and flexibility will give you some insight into that. 

    However you should be cautious on the number of questions you ask and also the answer selection you offer in order to consistently and accurately measure how one survey response stacks up to another. Here are a few best practices I follow when designing and conducting our customer satisfaction surveys: 

    • If using a rating scale, apply a consistent scale for questions in the same category,
    • On the same note for a rating scale, use an even number for response options, i.e. Rate my service from 1 to 4, as oppose to 1 to 5 as people generally gravitate to the mid way point which will be tough for you to determine their what a 3 or neutral means,
    • I stick to no more than 20 questions in total, anything beyond that become laborsome to complete, 
    • I give multiple options for customers to complete their surveys - either through an online survey tool, through a phone interview, or an in-person meeting. After I conduct the first one, I always ask which preferred method they wish to conduct the next survey with. This way, you're not allowing the survey process to hinder you from obtaining optimal results,
    • In terms of how I select which clients to survey and when, we survey the same number of clients per quarter (I literally take the total number of clients and divide them per quarter). We typically don't survey a client more than once a year, unless they are working on multiple projects that span across different lines of business. Spreading out the client base across the year, gives us the ability to report out on surveys every quarter as opposed to only a big bump during one period of time. 

    2. Net Promoter Score 

    Natalie Ho is Vice President Sales & Marketing at LOGiQ3
    Meet Natalie

    NPS is a simple 10 point measure that determines how likely your customer (or maybe not even a customer) is to recommend your business to another. NPS is a good indicator for the company's reputation and influence in the marketplace. NPS score is derived by subtracting the percentage of respondents that rate between 0-6 from the ones that rate 9-10. In any business, you should strive to have more promoters (9-10) than Detractors (0-6). 

    When it comes to frequency of conducting NPS surveys, we follow the same frequency as the customer service satisfaction survey. This NPS question is typically included within the survey above. However, since we survey a shortlist of clients per quarter, to widen the number or responses, we will also run a semi-annual NPS campaign, where we will survey our entire contact base. After all, NPS measures the reputation of the business, which in most cases reaches beyond the current customer base. 

    To increase the response rate, here are some suggestions: 

    • Offer an incentive to complete, i.e. to enter a draw for a $5 gift card 
    • Make it super easy, a simple web landing page where you're not collecting additional data 
    • Discrete pop-ups on company website 

    3. Instantaneous Feedback

    Now that we've covered methods to obtain periodic feedback, what about instant feedback? What if a client is having a great or terrible experience in this very second - what are some things we can put in place to give them the opportunity to tell us, but in a measurable fashion? 

    We've toyed around with the idea that is similar to the Facebook Like button. What if every time you send an email, a client can simply click like or rate it from 1-10? Overtime, this type of instantaneous feedback collected can become extremely powerful in terms of improving email quality and frequency. 

    We've not yet integrated a solution that allows us to capture instantaneous feedback...just yet! So please stay tuned, something is in the works. 

    In the meantime, here are some that may give you an idea or two: 

    Of course the reason why we track and measure our performance is so that we can continue to improve our level of service. Therefore, it is equally important to set goals for each of these metrics and consistently report out results so that the rest of the team can see just how well the organization is doing. 

    Furthermore, I'm a big fan of sharing results publicly. Now, I'm not suggesting to publish the entire set of customer satisfaction results on the company website, but I do believe, if there is a customer success story, these should be shared in the form of client testimonials and client case studies. It is a terrific celebration for both the customer and service provider. 

    Hope you were able to get a few insights on measuring customer satisfaction. If you have any questions, feel free to leave me a comment and I'd be happy to discuss.

    LOGiQ3 Client Case Study Download

    [How To] Competitive Analysis using Porter's Five Forces Framework

    Posted by Nick Joly

    Mar 19, 2015 3:23:09 PM

    You may be familiar with Michael Porter's renowned Five Forces Framework which analyzes the level of competition in any given industry. This framework (illustrated below) has been studied in business cases, used in real-life scenarios and helped many companies map out their biggest competitors. For those studying the industry or maybe for those in the start-up phase, what I've put together for you today will hopefully help you better position yourself in your industry. I used a simple case to demonstrate the framework put to use for the Canadian Life Insurance Industry.


    To get started, I've mapped out Porter's Five Forces above, but let us take a closer look at each one in how it relates to the Canadian Life Insurance Industry specifically.

    Bargaining Power of Suppliers

    What does this mean for a Canadian Insurance Carrier?

    Essentially, how much bargaining power does one specific life insurance carrier have over another? Well, this can be, and often is, directly linked to the number of competitors in the field. The more life insurance carriers there are, the less bargaining power each carrier has individually. In the case of the Canadian landscape as we know it, there are only about 9-10 major life insurance carriers (i.e., those companies that actually write their own insurance products), with over 33 million people as the nation's population (aka customers/buyers)... this leads to a HIGH bargaining power of suppliers.

    Threat of Substitutes

    Of course in this case, by substitutes, we mean substitute products/services to the ones that your company may sell. The most common example of substitutes would be Coke and Pepsi. Both fight for the customer's share of wallet and customers are likely to buy on over another. This is a direct substitute. For Insurance Carriers, important to note would be, how many competitors have the same or similar product offering? Equally important to consider is, how much it would cost current customers to switch over to a competitor!

    If you can't differentiate your value offering to a point where the perceived level of product differentiation is high, then you may find it difficult to retain many of your existing customers!

    In this case, the threat of substitutes is HIGH, as almost all of Canada's life insurance carriers offer products and services similar in nature. 

    Bargaining Power of Buyers

    A great way to think of the bargaining power of buyers, is how strong their ability is to put pressure on the companies they're considering buying from. The bargaining power of buyers will be high if the buyer has many options to choose from. In Canada, as mentioned above, there are really only about nine or ten life insurance providers, which may seem like a lot to choose from, but in terms of ratio, comparing the number of buyers to suppliers, the bargaining power of buyers is LOW.

    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Meet Nick

    Threat of New Entrants

    As something that we've all seen in the "electronics accessories" industry (phone cases, chargers, screen covers...) when a new phone comes out on the market, the proliferation of companies who begin to make and sell their complimentary accessories, grows, exponentially! This is because there is a low barrier to entry with potential to yield high profitable returns (high margins on unit prices). In contrast, within the Canadian Life Insurance Industry, the absolute cost as well as the capital requirement for entry is quite high, which serves as a deterrent for new entrants, however, works in favor of the current suppliers. The more entrants there are in any given industry, the more difficult it will be for any given company to remain profitable. In regards to Canadian Life Insurance... threat of new entrants is LOW.

    So! Now what?! Well, given the high barrier to entry coupled with the high threat of substitutes, this may not be the most attractive industry to begin competing in (obviously!). That being said, for those who have entered and have become well established, this is definitely an attractive, yet competitive, industry to be in given the low threat of new entrants and high bargaining power of suppliers.

    Many might say that there is some controversy around Porter's framework, in that there may be more relevant frameworks, however, in terms of deriving value from a competitive analysis, it can be argued that Porter's framework serves its purpose. I hope that this post has brought insight to you and your particular business and competitive analysis. For more insightful pieces like this or if you'd like to chat more on this subject specifically, subscribe to the blog or contact us today!

    Topics: Marketing, Life Insurance

    How to ACE your Insurance Job Interview!

    Posted by Nick Joly

    Mar 10, 2015 3:19:01 PM

    Hello again!

    If you've had your ears to the ground on some of our latest news (i.e., a new acquisition and our growing team in Toronto), you can imagine how much we've all been buzzing like worker bees around the office! 

    Given this recent news, we've been receiving an influx of applicants looking to join our team, and we're excited!! Whether it's a role within life underwriting, reinsurance administration, audit or even roles within LOGiQ3's family of companies, APEXA & TAI (Tindall Associates) we're happy to meet you!

    What's more, is that we'd even like to give you a helping hand with this Infographic Guide to help you ACE your Insurance Job Interview! 




    The Canadian Life Insurance Industry is pretty unique! But preparing for an insurance interview is very much like preparing for any other interview!

    Here are some more details for you on these six easy steps to acing your insurance job interview!

    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Meet Nick

    1) Do Your Research: Consider the following: what type of insurance resources would be useful to your application? Is the company a member of any general insurance industry associations (i.e., LOMA, SOA, CLHIA) - what information do THOSE websites contain? 

    2) Understand the position you're applying for! Remember, the position goes beyond the required skill-set! Are you aware of the day-to-day life? Are you going to be happy performing in that role? There is no harm in reaching to others currently in that role to get a better understanding. 

    3) Apply! Whether it be in-person or online, apply with your most up to date and shining resume! Remember: most interviews will start even before you walk in the door. Phone/Video interviews are quite common, so after submitting your resume, do prepare to answer some standard screening questions!

    4) LinkedIn = Your Best Friend! LinkedIn isn't about having a golden network of 500+ connections, but rather how you use this tool to your advantage. Think about how many people apply for a job posted on LinkedIn, say 100. That gives you a 1% chance of even being looked at. Now, how many of those 100 applicants, took it a step further and sent an InMail to the hiring manager? Maybe four or five... increasing your chances to up to 25%... not bad huh?! Pro tip: be sure to personalize the message, express your interest in the role/company, include a fun & quirky subject line and be authentic! 

    5) Attend the interview! This may seem like a no-brainer, but when searching for a career, many people set up interviews and only attend the ones most interesting to them. Beware: not attending an interview with one company will only hurt your chances at finding a job at several companies. 

    6) Send a noteVery, very rarely has a thank-you card ever hurt someone's chances at landing a job. Leaving a thank-you card is a nice touch that can often be forgotten. Don't overlook this step, it shows a lot about your character!

    At LOGiQ3, you may already know that culture is paramount for us! We, like many other firms in the Canadian life insurance industry, hire based on FIT! So be sure to check the company culture first and APPLY based on FIT!

    Well, I hope this guide has helped you prepare a little more for your upcoming interview! You can never be too prepared, so do be sure to do your research! At LOGiQ3, we're always looking for great talent, so if you come across a great opportunity with us and you see a FIT with our culture, definitely apply! 

    Topics: LOGiQ3 Culture, Insurance

    The Ten Funniest Office-Approved Valentine's Grams!

    Posted by Nick Joly

    Feb 12, 2015 2:21:06 PM


    It's that time of year again!

    The big Saint V! The day where we show the ones we love, some LOVE! It's crazy to think how much our team has grown from just one year ago today. And amidst all the exciting updates and milestones that have filled up our schedules lately, we could never forget about showing all of YOU some love and sharing some laughs! 

    You may already know about our fun & quirky sense of humour around the office, and while it can be tough in most work environments to draw the line on what is "office approved" and what isn't, at LOGiQ3 we've been sending one another sweet Valentine-Grams! ...

    So if you're having a tough time drawing the line on what's appropriate and what isn't, say for example recording your colleague breathing to later set as your ringtone... you may want to follow our lead here and share a more... work friendly message with said colleague. For some inspiration and a good laugh, see what some of us around the office are sharing! 


      You finish my...   Sentences!
    Tiny_Heart_1  Stalker is a harsh word...        I prefer Valentine ;) 
    Tiny_Heart_2  I love you...        Even if I think about suffocating you in your sleep
    Tiny_Heart_3  I love you like Kanye loves...        Kanye
    Tiny_Heart_4  Happy Valentine's Day...        I met someone else
    Tiny_Heart_5  Be mine...        Until I get bored
    Tiny_Heart_6  We go together like...        Teen girls and vampires
    Tiny_Heart_7  I love you more than...        My first cup of coffee
    Tiny_Heart_8  The only thing I like more than you is...        Netflix
    Tiny_Heart_9  Couples that fart together...    Stay together
    Tiny_Heart_10  I lost my number...    Can I have yours?
    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Connect with Nick

    In addition to the lovely Saint Valentine's traditions, February also brings with it, the upcoming conference season! And given that our team has expanded quite nicely in the last year, you're bound to see some new faces in the coming months, so make sure to stop by and say hey for a quick meet and greet! We'd love to connect!

    I hope you enjoyed sharing in our fun & quirkiness and staying abreast of our many, many exciting updates. Happy Valentine's Day! 

    Image credit: Flickr User Brian

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    Topics: LOGiQ3 Culture, Marketing

    Considering a Career in Life Insurance? What about Reinsurance Administration?!

    Posted by Nick Joly

    Feb 3, 2015 9:40:29 AM

    Hi there! I'm so happy to be sharing with you today, the long awaited "Part Two" in my series of what goes on behind the scenes at LOGiQ3!

    Today: Reinsurance Administration! 

    It won't be a surprise to many of you that most professionals that have a career in life reinsurance, never imagined the possibility of a career in the industry. Life insurance, maybe, but reinsurance? What is that? Many of our reinsurance experts hold backgrounds in Finance, Accounting, Social Sciences, Actuarial Sciences... you name it! But what really kicked off their careers in Reinsurance was understanding what the industry was all about first! Here's a fantastic article that we've previously published that covers some good ground on what Reinsurance really means. 

    So great, you've finished/finishing school, you're about to enter the workforce, you know a little about reinsurance... now what? 

    What kind of opportunities are available in Reinsurance?

    At LOGiQ3, we are always seeking bright professionals to join our team of experts! A graduate interested in a career in reinsurance is often best suited to begin as a Reinsurance Analyst.  

    "What does a reinsurance analyst do?" Well, let me give a few highlights of this role:

    • Analyze and review reinsurance data, i.e., insured information, premiums paid, face amount (size) and issue date of policies... essentially they look at all of the info associated with a life insurance policy.
    • Conduct reinsurance data trend analysis, that is, understanding fluctuations in insurance premiums or policy size either sent from insurance companies to reinsurance companies or from reinsurance companies to retrocession companies.
    • Streamlining reinsurance admin processes to serve our clients better.
    • Address client needs, such as ensuring that reported information is correct and that the reinsurance administration system reflects the correct data.

    If you've read some of our previous blog post or follow us on social media, you'd know that we are BIG FANS of INFOGRAPHICS!

    Here's a great one for you today of "A Day in the Life of our Reinsurance Analysts - A General Workflow"

    Tweet & share this INFOGRAPHIC with your friends!


    Tweet & share this INFOGRAPHIC with your friends!

    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Connect with Nick

    While this infographic serves as a great overview of a day in the life of our reinsurance analysts, the tasks can vary from role to role and DEFINITELY require a skill set that encourages delving below the surface into complex situations & data sets to uncover new solutions. A big part of what makes our team here LOGiQ3 so unique is our culture! If you haven't checked out our MAXIMS - I invite to have a peak and see if they're in line with your personality and work ethic! 

    LOGiQ3 is CONTINUOUSLY searching for great talent. If you have a shining personality and a strong eagerness to learn, I invite you to also explore our careers page to submit an application and connect with us on Twitter and LinkedIn

    Pro tip: The BEST way to stay up to date on the LATEST updates and exciting events from LOGiQ3 is by subscribing to our blog! 


    LOGiQ3 Submit Resume

    Topics: Reinsurance

    Hello 2015! A Recap of our Highlights from 2014

    Posted by Natalie Ho

    Jan 9, 2015 9:00:00 AM

    Goodbye 2014, Hello 2015! Hard to believe another year has come and gone with the numerous to-do lists that were made, crossed off, and tossed in the trash can. A fresh start to the year means time to reset, re energize, create new to-do lists, and get ready to tackle another fantastic year ahead of us. 

    Meanwhile, looking ahead and planning for the blank pages of 2015 can be terribly thrilling, but let's not forget all the hard work we put into 2014. I'm sharing with you today a recap of some key highlights at LOGiQ3 in 2014. Thank you to each one of you who have helped us achieve another successful year!

    What did you accomplish?! 

    1. Dramatic Growth in our Business 

    2014 was a record year for LOGiQ3. Our top line revenue increased by 42% from 2013 and I can't be more proud to be a part of this growing team of insurance and reinsurance experts. We not only experienced growth in our revenue, but also in our number of staff as well as added some new clients to our roster. An amazing thanks for all the hard work our staff has put into 2014 and we're looking forward to another exceptional year!  

    2. Brand Uplift


    In early 2014, we launched a series of new brand assets. I am a strong believer that, as the world is evolving (especially at today's speed), it's important to re-energize our look and feel every so often. We decided to stay true to our workmark but bring in a new colour scheme, and re-introduce our tagline. The coffee mug concept was an instant winner as it fittingly conveys our tagline, Freedom to Think.

    We also took the opportunity to create our brand story

    Welcome to the group of quirky life enthusiasts, on a mission to change an industry. We live and breath human interactions, new relationships, and being exactly who we were meant to be. More than anything, we feel lucky to be able to provide others with positive experiences. LOGiQ3 is more than a company of insurance industry experts - we're your local barista, cheery postman, and your favourite cab driver. Making your life easier and delightful is our aim. We believe that this can be done when you're given the freedom to be you, whatever that involves. When you need advice, we'll lend an ear and give you what you need to figure it all out. It's important to have that freedom to grow and thrive at work, at home, and at life. Let us be your cup of coffee - a source of fuel, focus, relaxation, and Freedom to Think. - Relax, have a cup of coffee, have the Freedom to Think! 

    3. A New Website 


    With an uplifted brand, of course comes an updated website. We not only took steps to update our creative elements on our website, but we also migrated to a new platform to help us better serve our client base. For example, our underwriting E-Learning students can now login to our LMS directly via our website. In the near future, we hope to bring you a more personalized and dynamic web experience. 

    4. Client Delight

    Delighting our clients is what we live for. In 2014 we also launched our Client & Partner Delight Program where we are striving to create deeper and more meaningful relationships with our clients and partners. If we've helped you succeed in your business goals, we want to share your success story with the world. Interested to see how we've delighted our clients? Read our recently published Standard Life Client Study

    5. LOGiQ3 2.0 

    We set some lofty goals internally in 2014 for an institutional transformation to sharpen operational focus, aka LOGiQ3 2.0. This may not mean much to the outside world, however, ultimately speaking, we made many internal changes to organizational structure, processes, technology, client management, and our value offerings to build a stronger and bigger LOGiQ3.

    6. Launch of our E-Store 


    We've made it possible to train in the privacy of your own home, in 2014, we've also made it possible to purchase our underwriting E-Learning courses in your sweatpants! Awesome, right?! We officially launched our E-store in October, making it possible to distribute our Underwriting Program globally. By transacting through our e-commerce site, we are further shortening the time for individuals to receive professional underwriting training. In the future, we plan on releasing additional value offerings via our E-Store. 

    7. APEXA Launch 

    Natalie Ho is VP Sales & Marketing at LOGiQ3
    Connect with Natalie

    The official company launch of APEXA was a huge milestone for us. Much of 2014 was focused on gaining commitment and support from the industry to move ahead. The APEXA initiative is an industry-led solution that has partnered with several bodies including Canada's largest life insurance carriers, brokerage managing general agencies, independent advisors and the nation's provincial regulators. We are thrilled to see the momentum APEXA has gained. We are now in the next phase, which is building APEXA, the technology and the services, and ultimately onboarding the Canadian life insurance industry. 

    2014 was a great year, but we're ready to gear up for another spectacular one! Here is to making new to-do lists, setting lofty goals, celebrating new wins, and learning from future mistakes.


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    Topics: LOGiQ3 Culture, LOGiQ3, Marketing

    Year in Review - Top 10 Highlights in Marketing & Technology

    Posted by Nick Joly

    Jan 5, 2015 1:52:00 PM

    As the Sales & Marketing Coordinator for LOGiQ3, you can imagine that I'd have my nose in the latest publications on anything marketing, digital & sales... and you'd be right! I would definitely be classified as an early adopter for many things, as I love to keep up with the latest in industry trends. To say that 2014 was a big year for marketing & technology would definitely, be an understatement.

    I've curated here a list of highlights for a "Year in Review" of 2014, some marketing and some tech, see which ones have made it to my Top Ten List! 

    1 - Ultra HD Curved Screens

    Top electronics producers like Samsung, LG and Sony unveiled their new curved screen, ultra HD televisions. What makes them so "ultra" you ask? Well, with features like Auto Depth Enhancement, which automatically adjusts contrast levels depending on the picture, offering a greater sense of depth and Resolution Levels of up to four times what they used to be, these 65 inchers are priced at about $4000.00USD each. What do you think, worth it?


    photo: http://samsung.com

    2 - GM Announces 4G LTE Internet Connections in New Car Models

    For tech-savvy drivers who spend hours in their car each day, before upgrading those wheels, you may want to consider a GM. The manufacturer announced that 2015 models will be fully equipped with built-in WiFi Hotspots! Devices are said to connect to the WiFi like they would with a traditional router. Great for passengers looking for a thumb workout and equally great for drivers who can sync their device's music and phone, wirelessly to the car's dashboard! 

    3 - HubSpot Announces CRM Tool

    That's right marketers! If you haven't already heard of this game-changing announcement that was made at HubSpot's annual INBOUND conference, 2014 marked not only the introduction of their wicked Customer Relationship Management tool... but also their first IPO! As a HubSpot user and advocate, I simply can't wait to see how this CRM tool will develop in 2015 and enhance the daily work life of many marketers and salespeople out there!

    4 - Crowdfunding, Yes Crowdfunding!

    You may be wondering, "How did crowdfunding make this list?" - Well, as it was newly introduced in 2013 as a viable way of raising funds to kickstart major community initiatives, 2014 was the year of it's exponential growth! App developers, community centres, project managers all turning to crowdfunding as a method of raising funds to follow through or execute their initiatives. I have a feeling this popular trend won't be slowing down in 2015 as the world becomes more and more connected via social applications and software developments. 

    5 - 3D Candy!

    Awesome? Or... AWESOME! In March of 2014, I flew down to Texas to attend their annual SXSW event where the latest in technology and app development is presented and always exciting to see. Deloitte had a presence at the event whereby, the audit, consulting and financial advisory firm unexpectedly presented 3D printed candy! Words cannot describe, so visit this link or check it out for yourself below! 


    6 - Apple iWatch [Video Release]

    Yes, as you may have expected, there is at least ONE highlight in this Top Ten list that has to do with Apple. As major innovators in the tech world, how could they not be, especially with the announcement of their Apple iWatch. The video left many speechless and anxious. For myself, as an avid self-assessor, I can't wait to get my hands on one to track my body's activity and have it sync automatically with my other daily devices. This announcement will definitely be a game changer in many spaces, including the life insurance industry. See why HERE.

    7 - Simon Sinek's "Leaders Eat Last"

    Marketing guru, Simon Sinek, who I've blogged about in the past, released the latest in his series of novels, called "Leaders Eat Last". This confident speaker and intelligent wordsmith writes about finding fulfillment at work and fostering a trusting work environment. When it comes to innovation in marketing and thought provoking content, Simon is the first source I tap into as a marketer. And with the rise of technology, we often forget that books, good old fashioned, hard-cover books can be a great source of inspirational and intriguing content!

    8 - Creative Content Creation

    Speaking of inspirational content, 2014 was a big year for marketers, especially content-creating marketers. An trend that became apparent to many of us this year, was that we, as humans, like to share content with friends that we find to be cool, interesting or useful. With that said, in 2014 we saw a huge rise of content-rich media being created and curated online for people in different professions, not just marketing. What will be interesting to see for the year ahead, is what exactly we plan to do with this plethora of content-rich information!

    9 - H2H

    This concept of Human2Human became very popular in 2014. We've spoken countless times about B2B, B2C, C2C and C2B but the common denominator in all of these that isn't documented is the human interaction that takes place behind the scenes. With the rise of inbound marketing, less traditional ways of advertising and interacting with customers, a growing trend has been the rising demand of a human interaction to be present. Customers are wanting less and less to be advertised to and more and more to be spoken with. A two-way conversation of wants and needs has become the foundation of this "new-age" marketing. 

    10 - Google's "New" Logo

    Semi-serious, semi-joking, this highlight is FULLY necessary! For those unfamiliar with Google's recent update to their logo, I invite you to read this article, bearing in mind that they key, really is in the detail! ;)


    Nick Joly is Sales & Marketing Coordinator at LOGiQ3
    Meet Nick


    A common thread throughout most of these highlights is: improvement. 2014 seemed to be a lot about "bigger", "better", "improved" or "enhanced". We spent a lot of time perfecting methods, processes and content that we came up with in 2013, and with updates being released almost monthly, it will be very interesting to see what 2015 will look like.

    What are your thoughts? Do you think we'll have another year of improvement or will the new year bring with some sort of revolutionary innovation for marketing and tech? Feel free to post your comments below!


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    Topics: Technology, Marketing

    Internal vs External Underwriting Auditing: PART ll

    Posted by Jennifer Miller

    Dec 16, 2014 12:38:28 PM

    Hi again, 

    Not long ago I covered part one in my series of Internal vs External Underwriting Audit and I discussed whether or not They Both Have their Place in Today's Successful Life Insurance Market. As a refresher, we weighed the pros and cons and determined that, YES, a regular balance of internal underwriting audits and external third party audits was the key to success. Today, however, I'd like to highlight some cautionary factors that are important to be aware of when deciding to take the "external" route


    External reinsurance audits are a necessary and required exercise, especially when it comes to strengthening the business relationship and understanding the direct insurer’s underwriting processes and procedures. However, they are not entirely independent. The reinsurer has a client relationship to maintain with a direct company, and in light of this relationship, there may be a tendency on the reinsurer’s part to soften the message on the audit results. In addition, reinsurance audits can also tend to be both line of business and product focused, which may deter from providing a holistic or accurate picture of risk assessment.

    However, there are quite a number of benefits to having external third party underwriting auditing completed.

    A good third party external audit can provide you with:

    • A fresh perspective or bird’s eye view on how your underwriting shop assesses risks (how they do it, why they do what they do) and how they apply and interpret policies, procedures, guidelines, processes, practices and the overall underwriting approach) which can bring to light issues that would not otherwise be apparent to an internal resource.
    • Appropriate auditing resources so there is no tapping into internal resources which may result in the  loss of an experienced production underwriter for audit related work.
    • Objective results.
    • Access to industry underwriting standards and best practices. Audit analysis summary and reporting suited to the C-suite.
    • Multifactorial analysis and scoring method based on the results which provide quantitative and qualitative results.
    • Solid recommendations around areas for improvement.
    • Independent review.
    • Experienced underwriting auditor(s) that are well-seasoned and educated by all accounts, having underwritten in both large and small shops, clinical background, many years of underwriting experience (with multiple companies, countries, lines of business, and markets).
    • A team of auditors available to perform a robust audit with a large number of cases (where a lead auditor manages the overall audit) and within a specified time frame.
    • Technical abilities to process large audits in concentrated, short periods of time with firm deadlines and deliverables.
    • A selection of various types of audits geared to your objective that allows you to analyze and understand your business.
    • Ability to work in a secure environment remotely which can save you costs.

    Now, the big question! What to look for in an external audit vendor?


    Jennifer Miller is Senior Underwriting Specialist at LOGiQ3
    Meet Jennifer


      Here is a list of my criteria to choose an appropriate auditor for your auditing needs:
    • An audit team of highly experienced auditors with multiple line, company and international experience.
    • Technical aptitude - cutting edge technical capabilities.
    • Proven ability to perform an objective, holistic review with a track record (i.e., references, testimonials).
    • Personable, well represented with abilities to present to executive audience.
    • Ability to provide a secure data environment.
    • Unparalleled, quality reporting (ask for a sample report).
    • Detailed scoring & trending - quantifiable results.
    • Ability to make observations and recommendations for areas of improvement.
    • Ability to provide an overview of overall underwriting process.
    • Experience with interviews of underwriters, key leadership, compliance & privacy, support staff.
    • Flexibility to tailor  the audit to the needs of company & leadership team – asking the right questions to identify objective of the audit.
    • Offers specific focus.
    • Good communication skills.
    • Availability for on and off-site work.
    • Focus on cost-effective, value-added results.
    • Offers a secure environment for data.

    So what does all of this boil down to? Well, it's important to internally audit where possible, but equally (if not more) important to obtain objective third party views of where your underwriting shop lands in relation to the industry at large. 

    Where does your company stand in comparison to this? From what I've seen and what we believe here at LOGiQ3, a healthy combination of internal underwriting audits in addition to strategic external third party audits will spell SUCCESS in today’s competitive underwriting shop. 

    To find out more about underwriting audit or to help align your business processes and implement a suitable Underwriting Audit Program, feel free to set up a free consultation with us! 

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    Topics: Underwriting, Audit

    Does Early Rehab Improve the Outcome of Disability Claims Handling?

    Posted by Fernanda Rodriguez

    Dec 10, 2014 10:00:00 AM


    Assessing disability claims can be a culinary art sometimes...

    ... You have to mix the right combination of several ingredients to bake a delicious cake, or in the case of a disability claim… a delicious decision!

    Contrary to the stereotype of claims being automatically denied, in claims administration, the job of the Claims Adjudicator (adjuster/case manager/assessor) is not just about making decisions based on days of the week or moods or the luck of the draw.

    It is to review all evidence and use a combination of skills (medical, legal, financial, occupational, etc.) to arrive to a fair decision in the quickest time possible.

    At the same time the adjudicator must maintain the trust of the claimant and manage expectations from advisors, employers, managers, etc. Not an easy task…and to complicate matters, let’s not forget that the Claims Adjudicator is dealing with humans, and human beings are all unique and react to adversity in different ways. For example, a claims department may use reasonable recovery times as guidelines for return to work, but the truth is…individuals have different pain tolerances, mind sets, motivations, and emotional IQ’s. Therefore, an insurer's claims experience and ultimate recovery guidelines are not the same for all. 

    In my many years of claims adjudication, I have learned that the claims on my desk could not be treated simply as files; but rather as someone’s personal, individualized story. Therefore, I found that close interaction with the claimant was ALWAYS the best practice. 

    • It allowed me to gain a better understanding of their personal story.
    • It assisted me with connecting the dots, or completing the puzzle.

    In my experience, I have found that most claimants do wish to go back to work as soon as possible, but have to deal with many barriers. Therefore, time is of the essence during this small window of opportunity.

    Take a look at this chart:   


    Published in 2005 by the American College of Occupational & Environmental Medicine

    As you can see, only 2% of claimants off work for a period longer than one year go back to work. These results show that there are opportunities in refining best practices to resolve claims more quickly. 


    Fernanda Rodriguez is Senior Claims Consultant at LOGiQ3
    Meet Fernanda 

    Imagine how much we could help our claimants and how much we could reduce claim handling costs and reserves if we started focusing more on working closely with our claimants and introducing rehabilitation early on in the claim process is key. The claimant would likely restore his/her self-worth, preserve job skills, reduce the risk of isolation and depression…and the disability duration could be shortened, translating into a lower claim payout.  Everyone wins!  

    Times have changed and as the world and technology evolve, we should also evolve in the way we handle claims. It is time to use an old ingredient in this culinary art, to gain even better outcomes: Better informed claim decision, with higher claimant satisfaction and significant savings for the insurer! 

    Care to share your thoughts and best practices in regards to claims handling and rehabilitation? Please share them by commenting below!  If you would like to find out more on our claims administration and consulting services, you can schedule a free consultation with us right here!


    Topics: Claims

    Four Emerging Trends in Life Underwriting

    Posted by Nick Joly

    Dec 7, 2014 7:30:00 PM


    As a life insurance and reinsurance outsourcing and consulting services provider... 

    It is crucial for us to stay up to date with today's market and technological trends. Our bright team of underwriters not only grow to become experts in their field of life underwriting, audit and claims, they also keep an eye out for changes and innovation in the industry - as this is the key to not only learning, but staying ahead of the curve in an ever evolving industry! That being said, a couple of sharp underwriters from our team have joined forces to bring you some...

    Emerging Trends in Life Underwriting

    ...that every underwriter should be aware of to grow in their careers and in today's business!  On the menu of trends today...

    1. Wearable Technology
    2. Emerging Risks
    3. Identifying Needs of Millennials
    4. Turning Change into Opportunity

    For more insight into each, see below! 

    1. Wearable Technology Brings a Potential for Change

    CAMS – Cloud, Analytics, Mobile and Social. “These four components are the driving forces behind technology development today” says Peter Pleckaitis, leader at IBM. 

    Wearable devices such as Google Glasses, the Apple iWatch, and others, particularly designed to monitor vital signs related to health have the potential to change the health and life insurance market in many ways. 

    For one, these devices are being purchased in large and growing numbers. The Accenture 2013 Consumer-Driven Innovation Survey suggests that 46% of insurance customers are already interested in lower life premiums based on exercise levels and other indicators recorded by such devices. Many of the applications for these technologies are capable of monitoring a breadth of information including breathing, heart rate, sleep, hydration levels, calorie intake, movement, and much, much more. Underwriters will need to prepare for reviewing much more information than they have had to historically if life insurance companies begin using the data from these devices (a likely occurrence). 

    While customers have hopes of obtaining lower premiums, just think of the protective value to the insurance companies! A win-win? 

    2. New & Emerging Risks

    Lindsay Loft is Underwriter at LOGiQ3
    Meet Lindsay

    Swiss Re published a great article on some of the newest & emerging risks in Life Insurance. Economic, technological, socio-political, and environmental changes all have the potential to change risk. Some interesting themes for life and health risks include air pollution as a mortality driver, and democratization of genetic testing.

    The article further explains, some parts of the world are experiencing a significant increase in air pollution exposure due to rapid industrialization. China is a perfect example of this. The impacts on human health are starting to become visible and studies show life expectancy in these areas to decrease by 3-5 years. Air pollution has been linked to impairments such as chronic obstructive pulmonary disease (COPD) and cancers such as lung and bladder cancer.

    The World Health Organization has now classified outdoor air pollution as a carcinogen to humans. 

    The risk of democratization of genetic testing can help to diagnose the genetic basis of a disease and may also uncover predispositions to cancer or other diseases. However, results depend both on reliable laboratory procedures and accurate interpretation of results. The potential impact on life and health insurance markets include the implication of anti-selection, issues with privacy laws, medical malpractice claims, and more.

    3. Identifying the Needs of Millennials

    A great infographic was published recently from Gen Re, a financial services company specializing in reinsurance. Their infographic and accompanying blog post aimed to find what made millennials tick and how they can help companies further engage this generation.

    Millennials, also known as Generation Y, include anyone born between 1980 and 2000. This generation wields significant spending power & influence and possesses particular attitudes & behaviours that call for innovative approaches to marketing and communicating insurance value propositions.

    This group will be shaping the insurance industry over the next decade both as consumers and as employees.

    Studies show that millennials are less financially literate than their older Gen Xers and are skeptical toward financial institutions. This tech-driven generation poses a challenge to the insurance industry's established communication strategies.

    Soon millennials will be impacting the industry from within as hundreds of thousands of insurance positions are set to be filled by this group by 2020, with many aspiring to be leaders in the next five years!

    What are you doing to attract the next generation of Life Underwriters? 

    4. Turning Change into Opportunity

    Demographic shifts and changing customer behaviours will help shape the life insurance industry's long term future and, the insurers who anticipate these changes will be better positioned for future growth.

    The Internet, mobility and social networking have created a new generation of customers who demand simplicity, speed and convenience. These trends will only accelerate, which very well may lead to a situation where customers will be more willing to buy 'direct'... resulting in the disappearance of distributors as sales channels.

    What's more? Environmental factors and changing customer behaviours will also greatly affect the life, annuities and retirement sectors, which will experience significant change, such as new value offerings for seniors and better risk management.

    As a result, underwriting executives will be looking for ways to exploit new sources of information to improve risk selection. With the right talent and proper use of information and analytics in underwriting, a greater number of transactions can be automated and this will help overcome the looming talent gap as the current generation of underwriters approach retirement age.

    Jennifer Sadler is Underwriter at LOGiQ3
    Meet Jen

    These were some great trends that we wanted to share with all of you, they can really get your wheels turning! What important trends have you noticed recently?!

    Keeping an eye on the changes in the life insurance industry is critical to our success and presenting innovative solutions to our clients!

    What steps have you taken in your business or career to match the changes in the industry? Have you experienced the effects of mobile and wearable technology? What measures have you taken to account for environmental changes in your business? 

    Get in touch with us to see what solutions we have for you to solve your Underwriting challenges and issues.


    Topics: Underwriting, E-Learning / Training

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