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ARCIS eServices

Solus

Life Insurance Case Study

Client is one of the top five insurance companies in the world. At the time of nationalization it was the largest foreign insurer in India in terms of the compensation paid by the Government of India. In India, has a joint venture with one of India's oldest, and largest group of companies.

Customer Retention Process
  • Establishing contact with the customer including enrichment and tracing of new contact details
  • Providing reminders to the customer for premiums falling due
  • Discussing the specific policy with the customer in view of the upcoming due date for premium payment
  • Understanding issues that a customer might have in terms of the following and counseling the   customer on the same:
    • Fitment of policy to the customer’s objectives
    • Perceived benefit of the policy in the short as well as long run
    • Dealings/Interactions with the insurance company vis-à-vis the policy
    • Policy Servicing and information/reminders
    • Changes to fund value (ULIP only) with fluctuations in the equity market and approach to be taken for managing the same in a long run
  • Taking up endorsement and service requests
  • Providing doorstep collection of premiums
  • Providing ‘awareness’ calling to remind the customer of upcoming debits on account of       ECS or standing instructions
  • Calling up and coordinating with customers for bounced cheques/instruments
  • Coordinating for the formalities required to be completed by the customer in case of lapsed policies
  • Acting as a Door-Step Representative for policy servicing
Challenge
  • 60 locations dispersed across regions as far as Jammu up North to Kota in the central region and from Sri Ganganagar on the Western border to Agartala in the North East
  • Field staff varying from as high as 50 to as low as 1 in a location
  • Data mining, evaluation and analysis for calling strategy within various buckets and products
  • Real time information exchange (e.g. appointment conflicts, sharing of policy information through secured channels, task details, acknowledgments, payment details, customer requests/feedback etc.) between staff members and the central tele-calling team
  • Breaking the paper/phone/fax barrier in the industry
  • Multiple Branch level operations
  • Supervising staff through a central location rather than having local offices
Solutions: Customer Retention Management System (CRMS)
  • Three hubs were created one each for North & East and one at the Headquarters in Gurgaon
  • Provided people (Feet on Street and Hub Supervisors) the flexibility of working from home
  • CRMS has been developed by the ARCIS Team based on the process requirements
  • Technology platform and applications manage the complete cycle of retention activity starting from  data analysis, allocation, tele-calling, Field Management to MIS generation in real-time 
  • Controls and workflow logic is placed at the back-end ensuring central point of control and keeping  the hand-held application ‘light’
  • Database is kept secured by allowing only designated ‘Web Service’ to interact with database
  • All ‘traffic’ for the requests made by the tele-calling and FOS applications are routed through   are routed through this ‘Web Service’
  • Admin utility allows for users to map personnel, tasks and escalation routes across the entire team
  • Application allows for true ‘enter once view everywhere’ functionality and transaction trails are visible    at all relevant points in the workflow
  • Calling is from a central location viz. the Gurgaon office for all 60 locations instead of smaller    tele-calling teams by state or location
  • The CRMS enables the  tele-caller’s to manage and deliver on “low hanging fruits” intelligently
  • Tele-calling staff can view Field staff calendar (by location) on a real-time basis. This helps them to provide customers with appointment schedules that don’t conflict
  • All appointment flow in real time to the FOS. Spot appointments are possible because of the FOS calendar being viewable in real-time
  • All Information necessary for the FOS to know travels through GPRS connectivity
  • No information can be stored on the FOS hand-held devices. On completion of the transaction the information disappears from the device.
  • All customer deferments are managed in real-time. Leads go back to the same tele-callers. Tele-callers immediately check and re-create a new appointment with the customer.
Achievements
  • Rolled out application within 3 weeks post project sign-off
  • Data Security completely enabled to ensure no leakages of information
  • Turnaround-time of reporting  reduced from 48 hours to real-time reporting
  • First payment collection done within 2 hours of calling
  • Instant MIS and proof of visit / instrument / mandate collected is shared with the principal.
  • Done away with the traditional team reporting each day for outgoing cases and incoming feedback/reports
  • Activity status and progress on transactions can be viewed in real-time by anyone from any geographical location
  • Client ecstatic with the amount collected and has been repeatedly asking “How did you do it?”