AEGON Deploys Dynamics CRM 4.0

by Sonal Desai    Jan 30, 2009

AEGON Religare Life Insurance, the insurance arm of AEGON Regilare, has deployed a customer relationship management (CRM) solution to help its sales persons, agents as also reduce call loads on its call center employees. Today, the CRM connects sales employees across 25 branches on a whole suite of applications.

A green field company, it needed a customized enterprise-ready CRM solution. The IT and the business organizations of the company along with implementation partner Religare Technova developed a blue print outlining milestones that the CRM would help achieve.

These included making the CRM first available to the lead management team, keeping it as a separate entity from the core product, it should enable fairly large amount of automation, and an in-built campaign management system.

Plus the company wanted the CRM to integrate with other insurance projects and programmes for newer launches, said Srinivasan Iyengar director (information technology and change management) of AEGON Religare Life Insurance. "We evaluated numerous vendors and solutions, but finalized Microsoft CRM 4.0 because of its ability to scale, easy interoperability, and the ability to integrate. It has facilitated access to accurate, real-time customer information throughout our organization and enabled a quick sharing of knowledge across our enterprise."

Iyenger said while the company has 200 actual users of the CRM, it wanted the flexibility to hook on external systems and portal available to the sales executives and agents to log their leads and other information. "Around 1,000 people use the CRM everyday."

The campaign management application has witnessed a lot of improvement. "Almost 40,000 calls get logged and are subsequently loaded on the CRM."

Speaking about interlinking, Maninder Grewal, MD of Religare Technova said issues related to customer services such as requests, complaints, etc are logged on the front end. Sections such as policy administration, database for authentication of policy information, etc. are at the back end.

On the services side, it has helped direct marketing. A customized module enables call center employees to track direct sales pitches, said Iyenger. "Holistically, every quote you get, or every customer who logs in links the efficiency with which you deal with his request, and how fast and comfortably you can solve his problem. Integration offered by CRM 4.0 enables that," said Grewal.

Another project that is underway at AEGON Religare is that of data analytics, where in the data is extracted from the CRM and branched in the form of customer demographic and other information. Said Iyenger, "Our executives can now look at the data in the CRM while talking to customers, and sell more policies or pitch for new ones. For example, if an executive is talking to an elderly person, the CRM branch would also give him information that the customer has teenage or older children, and can pitch for insurance policies as per their requirements."

Starting January 1, the company launched a customer portal, the information from which will also be stored in the CRM.

Iyenger said while the company is yet to calculate ROI in monetary terms, some of the immediate benefits post the deployment include:

* Better turn around of conversion of leads into policy due to campaign management
* Better turn around of welcome calls into also sales pitches and sales of policies
* Since the CRM is interlinked with the portal, the agent calls to the call center have dropped

Grewal said that overall in the BFSI segment, the industry has to capture what the customer is saying, whether the call is to a bank, a brokerage house or an insurance company. "Are we passive or are we quick to respond is the next step. We should be able to provide value, and that only comes through business intelligence at our back-ends."

Iyenger said that with the market so competitive, and companies clamoring for space as also a single set of customer, technologies such as CRM differentiate you from the crowd.


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