Batch: PGDM Fin 2012-14 Performance Reporting and Analytics of Contact Centre Operations Mentor: Mayuresh Karnik Designation: Associate Director Internship Period: 7 weeks Location: HO, Mumbai Project Domain: BI & Analytics
6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 2 Analytics Presentati on Fl ow Edelweiss Group Edelweiss Tokio Life Insurance Objective Timeline & Process Flow Dashboards Submissions Limitations Key Learnings
6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 3 Edelweiss Financial Services 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 4 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 5 Edel wei ss Fi nanci al Servi ces Headquarter: Mumbai Website: www.edelweissfin.com Industry: Financial Service Group Businesses: Credit including Retail Finance, Capital Markets & Asset Management, Commodities and Life Insurance. Group comprises of 52 entities including 43 Subsidiaries and 8 Associate companies Revenue (FY13): Rs 16,707 M Net Profit (FY13): Rs 1,277 M Employees: 3,362 Market Presence: 224 offices across 109 cities in India and overseas Market Listings: NSE: EDELWEISS; BSE: 532922 Edelweiss Tokio Life Insurance 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 6 Edel wei ss Toki o Li fe I nsurance 74:26 joint venture between the Edelweiss Group and Tokio Marine Objective is to enlarge Edelweisss retail footprint Rs 5.5B start-up equity infusion The Tokio Marine Group: Founded in 1879 as the first general insurance company in Japan With interests in Life, Non-Life, and Re-Insurance Presence in 427 cities across 39 countries Key focus areas: Build a high quality and productive agency force Reach out to existing Edelweiss clients Banca tie-up with Catholic Syrian Bank in February 2013
6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 7 Edel wei ss Toki o Li fe I nsurance Incorporation Date: October 2011 Headquarter: Mumbai Website: www.edelweisstokio.in Industry: Life Insurance New Business Premium (FY13): Rs 52 crores/ ~23000 policies Business In-force (FY13): Rs 60 crores/ ~30000 policies Employees: ~1200 Market Presence: 45 branches across cities in India (expected to open 26 new branches in current fiscal year) Distribution Channels: 10 different distribution channels Competitors: Indiafirst Life, Star Union Dai-ichi Life, DLF Pramerica LIfe 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 8 Edel wei ss Toki o Li fe I nsurance Particulars FY 12* FY 13 New Business Premium (Rs cr) 11 52 Investment income (Rs cr) 42 46 Total Income (Rs cr) 53 98 New Business Policies 6600 ~23000 Branches 29 45 PFAs 825 3401 Employees 659 1,275 Products 7 20 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 9 * Operations started from Oct 2011 Edel wei ss Toki o Li fe I nsurance Name Designation Deepak Mittal CEO Jun Hemmi Executive Director Muralidharan R Chief Operating Officer Yash Mohan Prasad Chief Agency Officer SarjuSimaria Chief Finance Officer AbhayTewari Appointed Actuary Papiya Banerjee Chief Human Resources Officer Yoshiaki Okabe Head Direct Sales 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 10 Obj ecti ves 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 11 To make a dashboard for the contact center of ETLI To be proactive rather than reactive To identify the trigger points for process re-engineering Timeline & Process Flow 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 12 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 13 Ti mel i ne Understanding Ops of CC Understanding database Identify KPIs and Metrics Finalizing the Dashboard 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 14 Process Fl ow Understand their work and the environment Session with Manager & CPO-Officer Session with employees Team size 9 5 calls to be tracked Timing: 8 am 8 pm
Understanding the structure of the database and the information it contains
Service Measures Efficiency Measure Quality Measures
Master Dashboard COO Detailed Dashboards Associate Director and VP Operations Employee-wise Dashboard Contact Centre Head& SEs
Dashboard 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 15 Submissions, Limitations & Learnings 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 16 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 17 Submi ssi ons Data validation Talk time Incorporating human resource and finance data Worst and best call of the week Weekly rating chart for employee 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 18 Li mi tati ons More precise targets Responses/ Feedback/ Queries Categorization File size 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 19 Learni ngs Got an idea of visionary power of top management and how small things can make big impact Assuring contact centre team about the idea and making them receptive to the changes Importance of distribution partners and contact centre for an insurance industry Power of data Technicalities of MS Excel 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 20 Thank You Big Data & Analytics 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 21 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 22 What i s Anal yti cs? "It is a combination of business knowledge, computer science and statistics," says Pankaj Rai, Director of Dell's Global Analytics division Holistic approach that transforms information into insights and insights into business outcomes Stage 1 What happened? What is happening? Stage 2 What will happen? Stage 3 What do I want to happen? Data Access Data Reporting Risk forecasting Predictive Modelling Optimization Strategy I n f o r m a t i o n
V a l u e
I n s i g h t s 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 23 Future Industry Prospects Source: Analyticsindiamag.com Sexiest" jobs of the 21st century - Harvard Business Review 2013. Sector will generate 4.4M jobs by 2015 worldwide Gartner US alone would face a 50-60% gap between supply and demand of deep analytical talent by 2015 - McKinsey Global data analytics services market stood at $500-550M in 2010, of which Indian service providers delivered $375M (more than 70%) 25% of $2B that leading PEs and VCs have invested into big data analytics firms in 2011 has gone to Indian firms The analytics segment in India was worth $2B in 2010 (70,108 people in over 100 firms); Expected to touch the $5.6B mark by 2015 and will need 200,000 employees Nasscom Crisil Study 2010 Key Recruiters: Mu-Sigma, EMC, Latent View, HP, Google Key Industry: Banking, Insurance, Retail, Telecom
Contents Life Insurance Industry 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 24 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 25 Current Scenari o Source: Business Today Article, Mar 2013 6/20/2014 LAL BAHADUR SHASTRI INSTITUE OF MANAGEMENT 26 Current Scenari o Source: Business Today Article, Mar 2013