New System Saved Big Insurer Millions Supplying and Servicing Field Employees
One of the largest property insurers in the US had a problem supplying its employee agents across the country the technology they needed to do the job. Once they shipped the computers, phones, and other devices to an agent, they lost track. If equipment failed, they sent new products. When agents left the company, they couldn’t track where the equipment went. In a wasteful process, they kept buying the same products repeatedly without any returns from the field.
IoTane, a leading IOT Solutions Company, created a web application and a process to monitor, repair and retain field assets. The IT staff suddenly had the serial number, location, and assigned user at their fingertips. The software:
- provided agents a way to order equipment and create service tickets for any problems
- identified the vendor, asset cost (for depreciation and for holding agents accountable), and any documentation, manuals, and warranties
- attached equipment to services (phone lines, ISPs, etc.)
- maintained a record of repairs or exchanges—visible trails of the movement of each piece of equipment.
The ecosystem included centralized warehousing and refurbishing partners that maintained spares and equipment not in use. They repaired and refurbished equipment coming in from the field. They then
- shipped it to new agents
- swapped it with existing agents that experienced technical problems
- and returned problem equipment under warranty to vendors (solving a frequent RMA failure).
The insurer was able to document more than two million dollars in annual savings against the typical run rate of new equipment purchases, reduced agent down-time by 50% and assigned responsibility for each asset at every step in its lifecycle. The system:
- gave administrators and users visibility into each of their assigned assets’ origin, location, service history, and condition
- automated ordering and service ticketing
- created a way to evaluate equipment and vendors
- simplified planning and budgeting (data analytics)
- more than paid for the solution with money previously wasted.