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The Client |
The Challenge |
Sparsh's Solutions |
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Sparsh's client is one of the fastest growing general insurance companies in India with an employee base of around 2,600. Their distribution network comprises 200 branch offices spread across 172 cities in 22 states. The client is among the first non- life companies to acquire a license from Insurance Regulatory and Development Authority (IRDA). They have also achieved the ISO 9001:2000 certification across all functions, processes, products and locations in India.
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Increasing consolidation, convergence and globalisation are changes confronting the insurance industry globally, in addition to changing consumer concerns and buying behavior. The insurance industry is witnessing corporate downsizing, new technology adoption, and increasing direct mail, telephone, and Internet sales. These trends lead the insurance companies to outsource their secondary activities to gain cost efficiencies leaving them to focus on core activities.
Sparsh’s client needed a reliable partner for their policy processing activity. The policy processing needed to be performed with high accuracy and speed as that formed a core part of the whole process. As a business that was experiencing high growth, quality servicing of customer base was of utmost priority for sustained leadership. Sparsh was the ideal choice as its nationwide reach would facilitate speed, and vertical expertise would ensure accuracy, both of which were crucial for the client.
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The engagement took off with a focus on policy issuance process for the motor segment, which was thereafter extended to medical, travel, and health segments.
Sparsh was entrusted with the responsibility of -
- Receiving hard copy proposals along with the necessary supporting documents from the Branch office (in Delhi)
- Counting, in warding, indexing and carrying out level 1 quality checks for cover notes received by the center
- Forwarding proposals for data entry followed by level 2 quality checks for identifying and rectifying data entry errors
- Generating policy and uploading it in the system
- Printing policy, indexing, counting of policies and final cover note preparation
- Dispatching policies and reporting dispatch status to the client’s Branch office
For this, Sparsh designed a solution which was implemented in two phases . In Phase 1, the operations were carried out in Gurgaon catering to Northern Region and in Kolkata for servicing the Eastern Region. In phase 2, operations were extended to Pune and Bangalore to cater to the Western and Southern Regions’ requirements respectively. The objective behind identifying key centers was to establish a centralised hub in these cities for the regions where processes could be facilitated with more efficiency and ease. The creation of centralised hubs also served the purpose of reducing the turnaround time for processing the proposal forms.
The client also needed an extensive database of its customers’ profiles for current and future purposes as a CRM measure. Accordingly, Sparsh generated a repository of customer data for future profiling. Sparsh offered value added services by maintaining and updating this database on an ongoing basis.
Impacts delivered
Partnering with Sparsh enabled the client to carry out their transaction activities in a more organised and timely fashion. The highlights were -
- Consistently achieved a turnaround time of less than one day for processing non- discrepant proposals
- Constantly accomplished the target for processing the desired quantum of proposals on a daily basis
- Consistently maintained reporting timelines for the concerned process
- End-to-end processing which comprises warding, quality check level 1, data entry, quality check level 2, policy generation and policy printing is being conducted as per client expectation
- Successfully managed replication of the concerned activity to three other Sparsh centers in Kolkata, Bangalore and Pune
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| Highlights |
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- Process operational since August 2005
- Multilingual support
- Comprehensive customer service for entire Northern India
- Products supported include -
- Consumer Electronics
- Home Appliances
- Computer Peripherals
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