HDFC Life In­sur­ance

PCQuest - - CONTENTS -

So­lu­tion Re­quire­ment

The BFSI sec­tor has been read­ily and rapidly adopt­ing mo­bile tech­nolo­gies, and HDFC Standard Life In­sur­ance is no dif­fer­ent. With more and more cus­tomers switch­ing to apps for a seam­less ex­pe­ri­ence, every­one has a need for a ‘when I want it, where I want it’ mind­set.

So­lu­tion De­ploy­ment

Nearly 70% of the sales lo­gins are cur­rently done through the mo­bil­ity - the high­est in the in­dus­try. In 2015, the com­pany in­tro­duced ‘Mo­bil­ity 1.0’, which pro­vided com­pet­i­tive edge in the mar­ket place. It de­liv­ered a com­plete mo­bil­ity suite that has en­abled a lead cre­ation in less than a minute and pol­icy con­ver­sion in 20 min­utes.

With ‘Mo­bil­ity 2.0’ con­cep­tu­al­ized by de­sign think­ing in April 2016, the com­pany aimed to en­able more ca­pa­bil­i­ties to en­hance sales pro­duc­tiv­ity.

The project en­ables In­dia Stack in­te­gra­tion, GPS ca­pa­bil­i­ties, process au­to­ma­tion, su­per­vi­sor ef­fec­tive­ness, cus­tomer ser­vic­ing ca­pa­bil­i­ties for sales, off­line mo­bile based e-ver­i­fi­ca­tion and en­gage­ment and learn­ing

So­lu­tion Ben­e­fits

The com­pany achieved a high num­ber of pro­posal lo­gins through the apps, with real time un­der­writ­ing to pro­vide faster pol­icy con­ver­sion. By build­ing on the above mod­ule, HDFC Standard Life in­sur­ance ex­pects sev­eral lay­ers of ben­e­fits in­clud­ing a dra­matic re­duc­tion in con­ver­sion turn­around time by a re­duc­tion in scru­tiny time and FR’s.

The work abil­ity of these apps have en­abled an ef­fort re­duc­tion worth five em­ploy­ees, and helped the com­pany cre­ate and ad­di­tional lead per month.

Also, the project en­abled an in­crease in met ra­tio by 10% re­sult­ing in lead con­ver­sion ra­tio in­crease on over­all base for direct, agency and banks.

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