Analytics Solution
For a Large Life Insurance Company
CLIENT & PROBLEM STATEMENT
- The client is a very large Insurance company having tons of customers data.
- They provide various insurance financial products through a large sales channel network.
- Large Insurance company which sends manual MIS on Persistency data to a large sales channel base.
- Client wanted to replace manual MIS work and also provide effective analytics-based decisions to teams.
- Their conventional business reporting tools were lacking in giving proper insights.
APPROACH
- The manual process of MIS was completely replaced by an automated solution on Cloud. G-Square installed its tool Narrator which now enables the Client to get automation of the MIS & Dashboarding for the Sales team of various channels.
- Products identification & persistency achievement targets of each sales person were configured.
- Improved decision and performance with effective insights, Our reporting tools helps
- We built a smart prescriptive analytics solution for improving Persistency of the Life Insurance company.
- The measurable gain and lift in the persistency was to the tune of 3-4% over a three year period.
- The coverage of prescription was across various Geographies, Channels, Categories and at product level on an ongoing basis.
SOLUTION & OUTPUT
- The Client was provided dashboards of Persistency pertaining to various Geographies, Channels, Categories and at product level on an ongoing basis.
- The automated dashboard & analytics reports are sent through emails to a 4000 + sales team on a regular basis.
- The Senior management gets actionable insights through Prescriptive Analytics reports to improve business performance.
