Bajaj Allianz General Insurance Company (BAGIC), a joint venture between Bajaj Finserv and Allianz SE, is a leading General Insurance provider in India and is ranked 2nd amongst the top Health Insurance Brands in the country.
HDFC Bank’s Sustainable Livelihood Initiative i.e. SLI business unit is present in towns and villages across 24 states in India. A 3-year vision articulates the plans for 4X growth of reach and for building the path to profitability. The SLI Business noticed that the customer acquisition cost (CAC) was increasing steadily in remote markets, owing to the lack of compliant customer profiles. HDFC recognised that reducing turnaround times (TAT) was integral to solving this problem, which meant increasing the productivity of the field sales team.
Bharti AXA offers general insurance products to retail and commercial clients, and is among the larger companies serving the Indian market. Over the years, Bharti Axa has grown to a field force strength of 600 personnel. But, in scaling up, they realised that their efficiency metrics were being stressed; activity levels were low and conversion rates were dropping.
Treebo is India’s third largest hotel chain. Operating in a $20 billion market that is extremely fragmented and suffers from poor service standards, Treebo strives to standardize the hotel booking and stay experience.
SBI Life Insurance is one of the largest life insurance companies in India. Its agency field sales teams are responsible for recruiting new insurance advisors who in turn acquire insurance customers for SBI Life. On an average each field sales representative manages over 30 advisors, which makes it very difficult for them to keep a regular track of advisor metrics using offline reports.
Bioseed owns a vast pool of germplasm, among the richest in the world. The gene pool has sprouted one of the highest success rates in all of Asia. Bioseed is one of a handful of biotechnology companies with expertise across the board: Research and development, field and lab testing, data review, production, farm management and farmer interaction.
One of the biggest challenges for insurance providers in India is getting customers to retain their policies. According to IRDA release in 2015, only one insurer was able to retain half of the policies they sold five years back; in other words, 80% of customers churned in the first 5 years! It is critical for an industry in the business of selling long term products, that customers continue their policy for the whole term.