Synopsis:
HDFC Standard Life Insurance (HDFCSL) is one of India's leading private life insurance companies, offering a range of individual and group insurance solutions. The company has covered over 9,59,000 lives year ending March 31, 2008. Over 150,000 financial consultants / agents and 8,000 sales managers are dependent on availability of critical daily information. The number of financial consultants is expected to increase to 2.5 million in the next two years.
Key Information Needs:
Top Management: monitoring key performance metrics with respect to budgets, sales forecasts, business pipe, etc.
8000 sales managers: monitoring agent performance, reviewing lead & prospect details, keeping track of sales targets, achievement, incentives, etc.
150,000 Agents: dependent on the MIS system for a variety of business critical information, such as lead data, customer data, policy status, premium dues, targets, incentives, etc.
Extensive security clearance was required to access data in the Core Policy Management System that hosts the organization s data assets. This made it difficult for information to be shared with stakeholders across the organization to provide them with key information relevant to their day-to-day needs. To address this issue, HDFCSL deployed a solution for their key stakeholders, called Consultant's Corner.
Challenges:
1. Typical users had entry level computing skills, and needed a solution that would be easy to use and require minimum training.
2. Users needed the flexibility to modify & analyze data without depending on IT.
3. The ability of IT to support requests of such a large & distributed user base was limited.
Solution Deployed:
HDFCSL chose to deploy Synaptris s IntelliVIEW Solutions namely IntelliVIEW SDK, IntelliVIEW Designer and IntelliVIEW Report Analyzer (Web Client) to solve the problem.
An HDFCSL spokesperson said that the group chose IntelliVIEW after a detailed assessment conducted by an independent CMMi Level 5 company that evaluated suitable reporting and Business Intelligence (BI) solutions with a focus on the following areas:
Ease of use for users who had entry level computing skills
Interactivity and analysis capabilities
Ease of deployment & management
With IntelliVIEW, the agents now have all the flexibility they need and the ability to access and interpret information as per their requirements. Even users with minimal computing skills are able to be fully operational in a day! It has also eased the deployment process by enabling end users to export data to CSV, Excel and PDF formats.
IntelliVIEW Designer (desktop tool for rapid design & publishing of interactive reports) enabled HDFCSL's report designers to connect to data sources, build interactive reports and publish them to IntelliVIEW SDK. IntelliVIEW SDK, provided HDFCSL the capability to integrate reporting and analysis into the Consultant's Corner Web application and enabled effortless publishing of reports by using real-time data. IntelliVIEW Report Analyzer (Web Client), enabled agents and managers to view, modify, extend or analyze their report data on-demand and without depending on the IT Team.
Today, with over 100 MIS reports, IntelliVIEW is the core solution that the 150,000
agents, the 8000 sales mangers and the top management depend on for their information needs.
Benefits:
Productivity Improvement: Annual savings of up to 30 million hours for 150,000 agents,
improvement in productivity for over 8000 sales managers with up to 10% savings in manager-time.
Decrease in IT Overhead: Ongoing IT overhead minimized due to self-serve reporting & on-demand analysis capabilities for users.
Decrease in Admin overhead & expenses: Administrative overhead on branch operations significantly reduced due to real- time availability of client & policy information for agents.
Reduction in overheads: Overheads were reduced through annual savings of production & distribution costs of about four million sheets of paper
Competitive Advantage: HDFCSL agents gained a significant competitive advantage in the market by improving service levels and minimizing turnaround times for customer requests.
