ashish massey-summer internship report

Identifying Service related Needs &Expectations of Internal Customers: New

Business PerspectiveSBI Life Insurance Co. Pvt. Ltd.

A project report submitted as a part of therequirements for award of the Degree of Master of

Business Administration

Submitted byAshish Massey

PRN – 12020441087Operations (E 28)

MBA (2012-14)

Under the Guidance of

Project Guide Project MentorMr. Sudarshan Mahabal Mr. Hrushikesh

Bahekar Senior Manager

Projects

[email protected]

SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES(SIMS)

(Constituent of)SYMBIOSIS INTERNATIONAL UNIVERSITY, Pune

July 2013Company Certificate

II

Declaration by Student

I hereby declare that the project entitled “Identifying servicerelated Needs & Expectations of Internal Customers : NB perspective“ submittedin partial fulfillment for the award of the degree of Masters ofBusiness Administration is my original work and the project hasnot formed the basis for the award of any degree, associate ship,fellowship or any other similar titles.

All the research activity done is a part of the summerinternship project at SBI Life Insurance Company Limited. Thedata taken & used for analysis is in consultation & permission ofSBI life authorities.

While doing the project honesty, integrity & professionalismwere given utmost importance.

Ashish Massey Place: PuneDate:

III

Certificate from Guide

This is to certify that Mr. Ashish Massey, PRN No. 12020441087has completed his project report on the topic titled “Identifyingservice related Needs & Expectations of Internal Customers : NB perspective“ andsubmitted in partial fulfillment for the award of degree ofMaster of Business Application program of Symbiosis InternationalUniversity, Pune.

Mr. Sudarshan Mahabal Place: Pune Date:

IV

Executive SummaryThe primary focus of any organization is growth and profitability– both come with increase in market share, which in turn isachieved by continuously satisfying the customers. Customersatisfaction proves to be a herculean task if the internalprocesses of the organization are not streamlined. Thus itbecomes very crucial to identify service related needs ofinternal customers and satisfy them as this translates intoexternal customer satisfaction in the long run. This project isdesigned to identify the service related needs and expectationsof internal customers in respect of the ‘New Business’ processcycle.

Following are the objectives agreed upon for the project:

Identifying internal customer’s needs and expectations withrespect to service.

Drafting questionnaires for measuring satisfaction level ofInternal Customers.

The identification of service related needs and expectations ofinternal customers was completed by interviewing internalcustomers from various departments and categories. A total of 120people were interviewed and their needs and expectations wereassessed.

The interviews were taken in person at various locations such asVashi, Thane MPC, Mumbai PC and CPC Belapur. Some interviews werecarried out over telephone due to geographical constraints. Theoutcomes of the interviews are discussed in Chapter 3 - Resultsand Discussion.

On the basis of the interviews that were conducted, 6 differentquestionnaires are prepared. These questionnaires can be used to

V

gauge the satisfaction level of each and every stake holder inthe New Business process cycle.

In the course of the project, 5 major problem areas wereidentified which had many different sources. The main objectivebehind carrying out the project was to decode those sources inorder to streamline processes and hence increase customersatisfaction. The 5 identified problem areas are as follows:

Communication

Responsiveness

Training

Infrastructure

Process Effectiveness

Acknowledgement

First and foremost, I would like to thank the SBI Liferecruitment team for showing their interest in me for the summerinternship program. I would like to thank my guide, Mr.Hrushikesh Bahekar for being a constant source of motivation andalso a knowledge source helping me navigate towards successfulcompletion of this project. Apart from project related input, hishuman touch to office hour at SBI life has made the environmentconducive for proper transition from scratch to deliverable.

Few other persons who have made significant contribution ingiving technical input, appropriate debugging and right finishing

VI

are Mr. Puneet Pathak, Mr. Manoj N Jhambhulkar, Mr. Madan GopalPandey and Mr. Arpan Sengupta and the HOD - Projects & Branch Co-ordination, Mr. Biswaranjan Sabat for giving the right directionas a leader and helping me reach logical conclusion in the courseof project development.

Above all I would like to thank my mentor, Mr. Sudarshan Mahabalfor his invaluable inputs in the course of the project.

Ashish MasseyMBA (2012-14)Symbiosis Institute of Management Studies, Pune

VII

Table of Content

SR.NO. TITLE PAGE NO.

1Chapter 1 : Introduction

1.1 Company Profile1.2 New Business Process Cycle1.3 Objectives and Limitations

01020305

2 Chapter 2 : Methodology 06

3 Chapter 3 : Results and Discussion 07

4 Chapter 4 : Summary 10

5 Chapter 5 : Bibliography 12

6

Chapter 6 : Appendix6.1 Questionnaire for IA6.2 Questionnaire for CIF6.3 Questionnaire for UM/TM6.4 Questionnaire for Sales Support (Banca)6.5 Questionnaire for Sales Support (Agency)6.6 Questionnaire for Ops6.7 Questionnaire for PC

iiivviixxiixvixviii

List of Figures

SR.NO. FIGURE PAGE NO.

1 The service profit chain 01

2 New Business Process 04

VIII

List of Tables

SR.NO. TABLE PAGE NO.

1 Population and sample 06

IX

IntroductionInsurance in its modern form first arrived in India through aBritish company called the Oriental Life Insurance Company in1818, followed by the Bombay Assurance Company in 1823, and theMadras Equitable Life Insurance Society in 1829.

Regulation of insurance companies began with the Indian LifeAssurance Companies Act, 1912. In 1938, all insurance companieswere brought under regulation when a new Insurance Act was passed.It covered both life and non-life insurance companies. It clearlydefined what would come under life and non-life insurance

business. When the market was opened to private participation in1999, the earlier Insurance Act of 1938 was reinstated as thebackbone of the current legislation of insurance companies, as theIRDA Act of 1999 was superimposed on the 1938 Insurance Act.

Figure 1: The service profit chain

All customer service creates customer satisfaction, customerloyalty and customer retention. This statement is true for bothinternal and external customers. As shown in Fig. 1, internalcustomer service satisfaction leads to customer satisfaction whichtranslates into revenue growth for the firm. Internal customerare satisfied when the processes are streamlined and there is noservice gap. The service gap is more when the interest of variousdepartments differ. For instance, for sales team, business volumeis of utmost importance whereas for operations, quality service toend customer is most important. To ensure that this gap is closedby providing appropriate service, we first need to know the needs

1

InternalServiceQuality

EmployeeSatisfaction

EmployeeLoyalty

External Service Value

Customer Satisfaction

Customer Loyalty

Revenue Growth

and expectations of the stakeholders in the process and plancorrective actions.

2

1.1 Company ProfileSBI Life Insurance Co. Ltd. is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%. SBI Life Insurance has an authorized capital of Rs. 2,000 crores and a paid up capital of Rs 1,000 crores. Along with its 5 Associate Banks, State Bank Group has the unrivalled strength of over 18,000 branches across the country, arguably the largest in the world.

BNP Paribas Cardif is the life and property & casualty insurancearm of BNP Paribas, one of the strongest banks in the world. BNPParibas Group, having presence in more than 80 countries rankshighly in Retail Banking, Investment Solutions and Corporate &Investment Banking. BNP Paribas Cardif is one of the worldleaders in creditor insurance and its life and non-life insuranceunits have received an AA rating from Standard & Poor’s.

SBI Life has a unique multi-distribution model encompassingvibrant Bancassurance, Retail Agency, Institutional Alliance andCorporate Solutions distribution channels. SBI Life extensivelyleverages the State Bank Group relationship as a platform forcross-selling insurance products along with its numerous bankingproduct packages such as housing loans and personal loans. SBI’saccess to over 100 million accounts across the country provides avibrant base for insurance penetration across every region andeconomic strata in the country, thus ensuring true financialinclusion. Agency Channel, comprising of the most productiveforce of over 80,000 Insurance Advisors, offers door to doorinsurance solutions to customers. SBI Life has its vision,mission, and values as below:

3

Vision: “To be the most trusted and preferred life insuranceProvider”

Mission: “To emerge as the leading company offering acomprehensive range of life insurance and pension products atcompetitive prices, ensuring high standards of customersatisfaction and world class operating efficiency, and become amodel life insurance company in India in the post liberalizationPeriod”

Values: Trustworthiness Ambition Innovation Dynamism Excellence

4

1.2 New Business Process Cycle In Insurance terms, New Business means the entire process fromwhen the customer fills the proposal form till the time thePolicy is delivered to him. This new business has a number ofinternal customers (employees, vendors) interacting with eachother to provide service to the end (external) customer (referFig. 2).

In this cycle, apart from customer satisfaction, the internalcustomers have to follow a number of guidelines that have beenlaid down by SBI Life Insurance Co. Ltd. and IRDA, individually.Between all this, it is important to know the needs andexpectations of internal customers and their satisfaction level.

For customers, the first point of contact for SBIL is theInsurance Advisors (IA) for Retail Agency and Certified InsuranceFacilitators (CIF) for Bancassurance. Here the customer interactswith SBIL representative (Intermediaries, Fig. X), selects asuitable policy and fill in the proposal form. The IA/CIF thensubmits this form to their respective UM/TM/BSM/DBM whoscrutinizes them and hand them over to the sales support team atMPC/SO. The Sales Support is responsible for scrutiny of form andchecking for all the required (mandatory) documents in accordancewith the KYC, AML mandate by IRDA.

The form is then forwarded to the Operations Desk at MPC wherethe team logs in the form, does the cashiering of the cheque/DD,very basic level of underwriting and raises request (foradditional documents), if required. When the entire documentationis completed, the form is sent to PC where the Scanning and DataEntry vendors are available. The Scanning vendor is responsiblefor digitizing the proposal form while the Data Entry vendor does

5

the data entry of the scanned proposal into the PMS. The form isthen sent to PC where the request for medical examination israised (if required) and underwriting is done (in case ofstraight through process). In some cases, according to thebusiness rule of SBIL, underwriting is done at CPC as well.

After the underwriting is done the same is communicated to the NBdepartment who in turn get in touch with the printing vendor andthe policy is printed. Once printed, the policy is dispatched tothe customer through the logistics vendor. Although the policy isdispatched the process cycle is not over until the policydocument is delivered to the customer since this document is theonly proof for the customer at the time of maturity/claim.

6

Fig: New Business Process

7

1.3 OBJECTIVES & LIMITATIONSPrimary Objective:

Identifying service related Needs & Expectations of InternalCustomers: New Business perspective

Secondary Objective: Identify areas with opportunities for process improvement

for reduction of TAT for better external customersatisfaction and service experience.

Drafting questionnaires to assess the satisfaction level ofinternal customers with respect to the service provided tothem by various departments.

Limitations: The study is limited to New Business Processes. The project

can further be extended to Policy Servicing, Renewal, andclaims.

This study is a qualitative approach. For much accurateresults, the study can be extended quantitatively with theuse of the questionnaires that are developed.

8

Methodology1. Selection of Topic:

Insurance, being a service industry has many intangibles andhence it is difficult to satisfy customers. In this cutthroat competition, customer satisfaction is the key tosurvival and to be able to provide that to externalcustomers, we first have to satisfy the internal customers.Hence it is important to know the internal customer serviceneeds and expectations and measure their satisfaction level.Therefore this topic has been taken up.

2. Selection of Sample & Size: Since the stake holders in a NB process are from variousdepartments and functions, and each category has a differentpopulation, sample size for interview has been decidedaccordingly. The population and samples are as follows:

Table 1: Population and sampleWork Profile Population Sample

IAs(Active) 50000 50CIFs (Active) 15000 20UM 2800 10BDM 600 10Sales Support 700 10MPC Ops Staff 475 10PC Underwriting Staff

65 10

TOTAL 69,640 120

3. Pilot Study:To understand the real dependencies of each stake holder inthe New Business process cycle, it is important to first

9

know the roles and responsibilities of each department thatis involved. For the same, study of SIPOCS’s, SOP’s andgeneral organization structure was studied. Apart from this,HOD’s of all the involved departments were met in order tounderstand the functioning/working better.

4. Data Collection:a) Primary

The data has been collected by interviewing 120individuals. The interviews were open ended and nostandard questions were asked. The interviewees wereasked to discuss the problem areas as per their ownunderstanding.

b) SecondarySecondary data has been collected from internet. All thereferences have been cited under Chapter 5 –Bibliography.

Results and DiscussionValuable information was derived from the interviews that were

conducted. The results are discussed below.Insurance Advisers (IA) & Certified Insurance Facilitators (CIF)

The most important need of IAs came out to be that they needto be informed of the status of the proposal till the timeit has been delivered. Since they are the face of SBIL forcustomers, any query that customers have comes to IAs first.This includes the requirements that are raised at variouslevels. If the IA is proactively aware of the requirements,it will result into faster turnaround time for the

10

requirements to be met and hence it will be easier for thecompany at large to meet the defied TAT.

Another important aspect that came to light was that mostIA/CIFs are not satisfied with the trainings that they aregiven – for new product, refresher, skill set etc. Due tothis the UM/TM/BDM has to accompany their IA/CIF wheneverthere is a call. If the training is provided properly andregularly, IAs will be better equipped to provide service tocustomers and UM/TM will have more time to focus on otherbusiness activities. Also the training schedule should beinformed to the attendees on time for them to make necessaryarrangements.

The online portal for Retail Agency channel – Agency Online,is reported to be very useful but the access rights to IAshave been blocked for the last few months. On the otherhand, Banca Online - the online portal for Bancassurancechannel is reported to have some issues such as site notaccessible, data not available, portal running slow/hangingetc... Even though CIFs have the rights to access it, theyhardly use it and instead prefer calling their BDM forinformation.

Another area of concern is that in some regions IA/CIFsfound that proposal forms and brochures were not available.The intermediaries need the circulars to be communicated tothem as and when they are released. They also felt a needfor a much functional and accurate premium calculationapplication for all types of mobile devices and a taxbenefit calculator applications.

The intermediaries felt that that regular meeting with DSM,ASM, and RSM and other IA/CIFs is necessary for problemrecognition/information sharing.

11

However, the IA/CIFs were satisfied with the supportprovided to them from their respective UM/TM/BSM/DBM, SalesSupport and Ops.

12

Unit Manager (UM), Territory Manager (TM), Branch Sales Manager (BSM) &Business Development Manager (BDM)

These managers felt that requirements are being generated atvarious stages (namely MPC Ops, PC, CPC etc.) which is thereason for man-hour and manpower wastage, generallyresulting into un-fulfillment of TAT.

They also felt that lack of training of staff (IA/CIF inparticular) was consuming most of their productive time inmaking calls that IA/CIF are supposed to make.

According to them, there should be a standardized procedureto communicate circulars to intermediaries.

Sales Support

Sales Support feels that IA/CIF do not get the proposal formfilled properly which brings in problems while scrutiny.

Also they are pressured to do the scrutiny process fasterwhich results into poor scrutiny of proposal forms.

The system works slow hampering the performance of salessupport staff.

MPC Ops

The Ops team feels that IA/CIF should be educated more aboutthe importance of KYC/AML documents so that they collectthem in the first place and no more requirements are raised.

They also feel that RD should approve collection ofundelivered policies by the branch as and when they come andnot in bulk – this will result in customer satisfaction.

Ops feels that they are continuously pressurized by thesales force to skip scrutiny and cashier at the earliest –this leads to raising of requests at later stages.

13

Ops feels the need for a platform where they can put up alltheir issues at one place and track their progress.

The system works slow hampering their performance. Information on undelivered policies is updated very late at

helpdesk. In Bancassurance channel, if the EFT is done it is

challenging to get the proposal form to the branch. Ops feels they should have some form of underwriting

training. Multiple people contact customers – welcome call, address

verification, requirement follow up, which often irritatescustomers. Ops suggested there be a single point of contactto communicate with customers.

Processing Centre

PC u/w feels that the requirements are not being provided bythe concerned UM/TM/BSM/BDM in the stipulated time which isthe reason for u/w not meeting TAT.

They are satisfied with the TPA (medical) in urban areas butfeel there is scope for improvement in rural places.

PC also feels that scanning and data entry vendor are doingtheir job satisfactorily however in huge business times(month end, year end, financial year end) the processingbecomes slow and follow-up through CPC – NB department isrequired.

The cash in pipeline is too high sometimes due tounderwriting, pending requirements, medical results etc. -PC feels issuance pressure from sales force then.

PC feels that most requirements are met in the month endwhich also increases the pressure on the work force.

14

PC feels in EFT cases, the refund policy should be verystringent. As of now there are too many exceptions, makeexceptions a norm.

There is no transparency in the system once the status is‘money out’ where as the real transaction takes place waslater.

PC finds it a challenge sometimes to convince customer formedical test.

PC feels there is way too much interdepartmentalcommunication over phone/mail. This calls for integration ofprocesses in an ERP environment.

15

SummaryIt is observed that the focus of sales and operations differ –the sales force is solely interested in the sales volume thatthey can generate while the operating arms are more interested inthe quality and timeliness of the work they perform, which willultimately result into customer satisfaction. The three – sales,quality and timeliness, form the pillars of any business and itis of utmost importance to do so for smooth functioning of anycompany. However, the above scenario is the reason for differentneeds and expectations of different departments. The servicerelated needs and expectations of the various departments underpurview have been identified and their satisfaction level can begauged by the questionnaire that has been drafted around them.

The sales force expects more support in terms of tools and reportaccess which will help them serve customers better, hence morebusiness. There is also an urgent need of training for them inmuch required/necessary fields which will equip the sales forcefor necessary processes/procedures. These trainings include newproduct, refresher, proposal form filling and necessaryrequirements, computer knowledge etc. These trainings will notonly equip them better but will also result in lesserrequirements being generated.

The operating arms at MPC and PC are more focused on quality ofwork they do in the defined TAT. For example, MPC Ops would notinward a proposal form until and unless they are completelysatisfied with the documentation. At the same time they have tofollow-up/pressurize the concerned department to meet the TAT.This is one more step towards quality which will later ontranslate into customer satisfaction. However, MPC Ops feels thatit is being pressurized to lower its standard of scrutiny for

16

faster cashiering. PC u/w feels that the requirements are notbeing provided by concerned UM/TM/BSM/BDM in the stipulated timewhich is the reason for u/w not meeting TAT. They are satisfiedwith the TPA (medical) in urban areas but feel there is scope forimprovement in rural places. PC also that scanning and data entryvendor are doing their job satisfactorily however in hugebusiness times (month end, year end, financial year end) theprocessing becomes show and follow-up is required.

The following five areas came out as most critical from thestudy.

1. Communication

Timely, complete and proactive communication is theexpectation of all departments and each and every stake holderin the NB processes.

2. Training

Right training can solve many issues involved here withoutneed of any corrective measure. It will also reduce thedependence of employees on each other.

3. Responsiveness

The turnaround time of any request made should be given mostimportance by the concerned department. This is importantsince one delay actually delays the whole chain of processes.

4. Process Effectiveness

The processes must not be designed keeping in mind theimmediate user but it should take into account all the stakeholders that it involves.

17

5. Infrastructure

Infrastructure is the backbone of any firm. In this IT era, arobust IT structure is much sought for. System Integration,System configuration, Work flow management, ERP etc. are theneed of the hour.

All in all, we can say that both sales and operations arecustomer centric and highly value customer satisfaction. Howevertheir approaches seem to differ. This results in a gap ininternal customer satisfaction. This gap can be bridged byfocusing on the above mentioned 5 pointers. This certainly needsthe support and commitment of the top management.

18

BibliographyWebsites

http://www.crfonline.org/orc/ca/ca-4.html - “Identifying InternalCustomers and Measuring Their Satisfaction”.http://www.stevefarner.com/Internal_Customer.pdf - ‘An empiricalassessment of internal customer service’ - Steve Farner, Fred Luthans,Steven M. Sommerhttp://www.ipa.ie/pdf/cpmr/CPMR_DP_24_Developing_Effective_Internal_Customer_Service_Ethos.pdf - Developing An Effective Internal Customer Service Ethos –Joanna O’Riordan, Peter C. Humphreys

Key Words

Insurance Advisors – IACertified Insurance Facilitators – CIFUnit Managers – UMTerritory Manager – TMBranch Sales Manager – BSMBusiness Development Manager – BDMOperations at MPC – OpsMini Processing Center – MPCProcessing Center – PCCentral Processing Center – CPCExternal Customer – CustomerTurn Around Time – TATSBI Life Insurance Co. Ltd. – SBIL

19

Appendix6.1 Questionnaire for IA

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

Communication

According to you, how important is it for an IA to be aware of

NotRequired

(1)Neutral(2)

Important(3)

VeryImportant(4)

Extremely

Important(5)

1 The latest status of aproposal till delivery

2 The requirements sent to customers by Ops

3

Do you feel that regular meeting with DSM, ASM, RSM and other IAs is necessaryfor problem recognition/information sharing?

Makes nodifference

(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

4

According to you, whatis the best way to communicate official circulars to you?

PersonalE Mail

Verbally By UM

AgencyOnline

Responsiveness

How often do you contact the following for any kindof information while on visit

Never(1)

Sometimes(2)

At fewoccasion

s(3)

Mostof thetimes(4)

Always(5)

i

5 UM/TM 6 Sales Support 7 Operations

8

Do you feel that the communication flows down to you proactively with regards to your proposals/ official circulars?

How do you rate the proactive communication by

NoCommunicat

ion(1)

NeverProacti

ve(2)

Proactive at thelastmoment(3)

Generally

Proactive(4)

AlwaysProacti

ve(5)


How satisfied are you withthe support provided by Not at all

satisfied(1)

Sometimes notsatisfi

ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)


Training

Rate the following trainings attended by you

Notraining

(1)

NotAttende

d(2)

Bad(3)

Good(4)

VeryGood(5)

15 Refresher 16 New Product 17 Proposal Form Filling 18 KYC/AML 19 Sales Training

20 Any other training youwould like to have

Infrastructure

ii

Are you satisfied with Haven’theard of

it(1)

Not atall

satisfied(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

21

the Premium calculatorapplication provided to you for mobile devices

22 the availability of Proposal forms

23 the availability of Brochures

Do you feel Makes nodifference

(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

24 the need for a Tax Benefit calculator

25 the need for a SBIL mail ID


26 How do you rate AgencyOnline as a tool?

Worst(1)

Bad(2)

Neutral(3)

Good(4)

Great(5)

27 How often do you visitAgency Online?

Never(1)

Rarely(2)

Occasionally(3)

Mosttimes(4)

Frequently(5)

28

How often do you thinkthat Ops should login the case despite you knowing that it does not fulfil requirements at present?

Always(1)

CaseSpecifi

c(2)

Based onhigh SumAssured(3)

Loginandraisereques

t(4)

Never(2)

29

How much tolerance should Ops have for signature mismatch between financial

Shouldtake it as

it is(1)

Takethe

word ofIA forit

Shouldusetheirown

judgment

Shouldconfirm withcustomer

ZeroToleran

ce(5)

iii

instrument and proposal form?

(2) (3) (4)

30

Please give us any suggestions that you may have.

iv

6.2 Questionnaire for CIF

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

Communication

According to you, how important is it for a CIF tobe aware of

NotRequired

(1)Neutral(2)

Important(3)

VeryImportant (4)

Extremely

Important(5)

1 the latest status of a proposal till delivery

2 the requirements sent to customers by Ops

3

Do you feel that regular meeting with BDM, Sr BDM,AM and other CIFs is necessary for problem recognition/information sharing?

Makes nodifference

(1)

I don’tthinkso(2)

Neutral(3)

Mostprobabl

y(4)

Definitely(5)

4

According to you, what isthe best way to communicate official circulars to you?

PersonalE Mail

Verbally By UM

AgencyOnline

ResponsivenessHow often do you contact thefollowing for any kind of information Never

(1)

Sometimes(2)

At fewoccasion

s(3)

Most ofthetimes(4)

Always(5)

5 BDM/Sr BDM 6 Sales Support 7 Operations

8 Do you feel that the v

communication flows down to you proactively with regards to your proposals/ official circulars?

9How often do you require BDM\Sr BDM to accompany you on client visits

How do you rate the proactive communication by No

Communication (1)

NeverProacti

ve(2)

Proactive at thelastmoment(3)

Generally

Proactive(4)

AlwaysProacti

ve(5)

10 BDM/Sr BDM 11 Sales Support

12

Operations (Please tick only if you interact withthem)

How satisfied are you with the support provided by Not at all

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

13 BDM/Sr BDM 14 Sales Support

15

Operations (Please tick only if you interact withthem)

Training

Rate the following trainingsattended by you

Notraining

(1)

NotAttende

d(2)

Bad(3)

Good(4)

VeryGood(5)

16 Refresher 1 New Product

vi

718 Proposal Form Filling 19 KYC/AML 20 Sales Training

Rate your BDM on the following : Can’t Say

(1)

VeryBad(2)

Bad(3)

Good(4)

Excellent(5)

21 Product Knowledge 22 Domain Knowledge 23 Sales expertise

Infrastructure

24

How do you prefer to calculate the premium fora proposal?

BancaOnline

SBILife

Website

Mobilebased

application Ask BDM

Calculate onyourown

Are you satisfied with Haven’theard of

it(1)

Not atall

satisfied(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

25

The Premium calculator application provided to you at Banca Online

26

The availability of Proposal forms

27

The availability of Brochures

28

Do you feel The need for a Tax Benefit calculator

Makes nodifference

(1)

I don’tthinkso(2)

Neutral(3)

Mostprobabl

y(4)

Definitely(5)

vii

Process Effectiveness29

How do you rate Banca Online as a tool?

Worst(1)

Bad(2)

Neutral(3)

Good(4)

Great(5)

30

How often do you visit Banca Online?

Never(1)

Rarely(2)

Occasionally(3)

Mosttimes(4)

Frequently(5)

31

How often do you think that Ops should login thecase despite you knowing that it does not fulfil requirements at present?

Always(1)

CaseSpecific (2)


Loginandraiserequest(4)

Never(2)

32

How much tolerance shouldOps have for signature mismatch between financial instrument and proposal form?

Shouldtake it as

it is(1)

Takethe

word ofCIF for

it(2)

Shouldusetheirown

judgment(3)

Shouldconfirmwith

customer(4)

ZeroToleran

ce(5)

33


viii

6.3 Questionnaire for UM/TM

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

Communication

According to you, how important is it for a UM/TM tobe aware of

NotRequire

d(1)

Neutral(2)

Important(3)

VeryImporta

nt(4)

Extremely

Important(5)

1the latest status of a proposal till the policy isdelivered

2 the Requirements sent to customers by Ops

Do you feel

Makesno

difference(1)

I don’tthinkso(2)

Neutral(3)

Mostprobabl

y(4)

Definitely(5)

3

that the communication sentto customers through various means like SMS, Phone calls should be informed to concerned UMs\TMs\BSMs in the system immediately?

4

that the information provided through circulars available on e circular is helpful

5 How often do you need the help of Ops staff to

Never(1)

Rarely(2)

Occasionally(3)

Mosttimes(4)

Frequently(5)

ix

understand the circulars and its implications?

Responsiveness

How satisfied are you with thesupport provided by

Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

6 Sales Support related to new business scrutiny

7 Operations Yes No

8 Do you feel the help of Ops people in deciphering theinformation provided through circulars

9 Are your mails being reverted back by PC\CPC Operations\ISG within reasonable time?

10

Do you feel the need of a tracker to track your service requests to operations?

Makesno

difference(1)

I don’tthinkso(2)

Neutral(3)

Mostprobabl

y(4)

Definitely(5)

Training

Rate the following trainingsNo

training(1)

Worst(2)

Bad(3)

Good(4)

Great(5)

11 Refresher

12 New Product

13 Proposal Form

14 KYC/AML

15 Sales Training

x

16

Which mode do you prefer for cross departmental knowledge sharing? (Please tick only if you feel the need of training)

e Shiksha ClassroomTraining

Infrastructure

Are you satisfied with

Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

17

the Premium calculator application provided to youfor mobile devices (please tick only if you have used it)

18

the availability of Proposal forms

19

the availability of Brochures

20

the bandwidth\processing speed at branches

Do you

Makesno

difference(1)

I don’tthinkso(2)

Neutral(3)

Mostprobabl

y(4)

Definitely(5)

21

feel the need for a Tax Benefit calculator

22

currently find the laptop useful while visiting the prospect\customer?

Process effectiveness

23

How do you rate the medicalcheck up process

Worst(1)

Bad(2)

Neutral(3)

Good(4)

Great(5)

24

Do you agree that requirements that are raised at various levels

Willmake nodifference

I don’tthinkso (2)

Neutral(3)

Mostprobabl

y(4)

Definitely(5)

xi

are the reason for man hourand manpower wastage – resulting in late issuance

(1)

25

How often do you think thatOps should login the case despite you knowing that itdoes not fulfill requirements at present?

Always(1)

CaseSpecifi

c(2)


Loginandraiserequest(4)

Never(2)

26

How much tolerance should Ops have for signature mismatch between financial instrument and proposal form?

Shouldtake itas itis(1)

Takethe

word ofIA forit(2)

Shouldusetheirown

judgment(3)

Shouldconfirmwith

customer(4)

ZeroToleran

ce(5)

27

Are you currently satisfiedwith the process of understanding the proposal issuance stage in system?

Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

28


xii

6.4 Questionnaire for Sales Support (Bancassurance Channel)

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

CommunicationAccording to you, how important is it for Sales Support - Banca to be aware of

Uselessinformation(1)

Not allthat

important(2)

Neutral(3)

Important(4)

VeryImportant (5)

1the current status of a proposal till the policy is delivered

2 the Requirements sent to customers

Responsiveness

How satisfied are you with the support provided by

Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

3 CIF in requirement follow up

4 BDM in requirement follow up

5 Operations

6 Do you feel the help of Ops people in deciphering the information provided through circulars

Yes No

Training

Rate the following trainings given to you

Notrainin

g(1)

NotAttende

d(2)

Bad(3)

Good(4)

Great(5)

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7 New Product 8 Refresher 9 Proposal Form Filling

10

How often do you find discrepancies in filled proposal form?

Never(1)

Rarely(2)

Occasionally(3)

Mosttimes(4)

Frequently(5)

11

Do you feel CIFs require more training/knowledge about the proposal form – the required fields and their importance?

Makesno

difference(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

12



Infrastructure


Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

13

the availability of Proposal forms/Brochures

14 System speed

15

Do you feel the need of Tax Calculator

Makesno

difference(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)


Do you feel

Makesno

difference(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

xiv

16

That you are pressurized by BDMs to hurry up the scrutiny especially duringmonth ends which leads to shallow scrutiny

17

That proposal forms are delivered very late by BDMs\CIFs which over burdens you with lot of work in the last hours\last month days?

18

How often do you think that Ops should login the case despite you knowing that it does not fulfill requirements at present?

Always(1)

CaseSpecifi

c(2)


Loginandraisereques

t(4)

Never(2)

How often does the MPC Ops staff find discrepancies in the proposal form scrutinizedby you for the following:

Always(1)

50 % &above(2)

20 - 50%(3)

10 -20 %(4)

Never(5)

19 Address

20 Signature Mismatch

21


xv

6.5 Questionnaire for Sales Support (Retail Agency Channel)

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

CommunicationAccording to you, how important is it for Sales Support - Agency to be aware of

Uselessinformat

ion(1)

Not allthat

important(2)

Neutral(3)

Important(4)

VeryImportant (5)

1the current status of a proposal till the policy isdelivered

2 the Requirements sent to customers

Responsiveness


Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

3 IA in requirement follow up

4 UM/TM in requirement followup

5 Operations

6 Do you feel the help of Ops people in deciphering the information provided through circulars

Yes No

Training

Rate the following trainings given to you

Notraining

(1)

NotAttende

d(2)

Bad(3)

Good(4)

Great(5)

7 New Product xvi

8 Refresher 9 Proposal Form Filling

10

How often do you find discrepancies in filled proposal form?

Never(1)

Rarely(2)

Occasionally(3)

Mosttimes(4)

Frequently(5)

11

Do you feel IAs require more training/knowledge about the proposal form – the required fields and their importance?

Makes nodifferen

ce(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

12



Infrastructure


Not atall

satisfied(1)


ed(2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

13

the availability of Proposal forms/Brochures

14 System speed

15

Do you feel the need of TaxCalculator

Makes nodifferen

ce(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)


Do you feel Makes nodifferen

ce(1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

16

That you are pressurized byUms/TMs to hurry up the scrutiny especially during month ends which leads to

xvii

shallow scrutiny

17

That proposal forms are delivered very late by UMs/TMs/CIFs which over burdens you with lot of work in the last hours/lastmonth days?

18

How often do you think thatOps should login the case despite you knowing that itdoes not fulfill requirements at present?

Always(1)

CaseSpecific (2)


Loginandraisereques

t(4)

Never(2)

How often does the MPC Ops staff find discrepancies in the proposal form scrutinized by you for the following:

Always(1)

50 % &above(2)

20 - 50%(3)

10 -20 %(4)

Never(5)

19 Address

20 Signature Mismatch

21


xviii

6.6 Questionnaire for MPC Ops

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

Communication

According to you, how important is it for IA/CIF to be aware of

Uselessinformat

ion(1)

Not allthat

important (2)

Neutral(3)

Important (4)

VeryImportant (5)

1

the current status of a proposal till the policy is delivered

2Requirements sent to customers

Responsiveness


Not atall

satisfied(1)

Sometimes notsatisfied (2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

3 UM/TM/BSM/BDM 4 Sales Support 5 PC

Training

Rate the following trainingsWorst(1)

Bad(2)

Neutral(3)

Good(4)

Great(5)

6 Refresher 7 New Product 8 Skill Development 9 Proposal Form

xix

10 Computer Knowledge 11 Underwriting

Process Effectiveness/Infrastructure

Do you feel

Makesno

difference (1)

I don’tthinkso(2)

Neutral(3)

Mostprobably(4)

Definitely(5)

12

IAs require more training/knowledge about the proposal form/KYC/AML

13

That you are pressurized by IAs/UMs to hurry up/skip the scrutiny and do the cashiering which leads to shallow scrutinyand raises requirements at later stages?

14

That proposal forms are delivered very late by IAs which over burdens you with lot of work in the last hours?

15

That the systems are slowand it is hampering your performance?

16

That TPA results MIS should be directly accessible to you rather than getting it from PC?

17

That RD should be approving undelivered policies to be sent to branch on a daily/weekly basis?

18 The need for a Tax xx

Benefit calculator

19

Please tell us any suggestions that you have.

xxi

6.7 Questionnaire for PC Underwriting

RegionNORTH1

CENTRAL1 EAST

WEST1 WEST 3

SOUTH2

NORTH2

CENTRAL2

NORTHEAST

WEST2

SOUTH1

SOUTH3

Communication

1

According to you, how important is it for IA/CIF to be aware of Requirements sent to customers

Uselessinformation(1)

Not allthat

important (2)

Neutral(3)

Important (4)

VeryImportant (5)

Responsiveness

How satisfied are you with the support provided by

Not atall

satisfied(1)

Sometimes notsatisfied (2)

Neutral(3)

Satisfied(4)

VerySatisfi

ed(5)

2 UM/TM/BSM/BDM 3 Sales Support 4 Ops 5 Scannnig Vendor 6 Data Entry Vendor

Training

Rate the following trainingsWorst(1)

Bad(2)

Neutral

(3)Good(4)

Great(5)

7 Refresher 8 New Product 9 Skill Development 10 Computer Knowledge 1 Underwriting

xxii

1

Process Effectiveness/Infrastructure

Do you feel

Makesno

difference (1)

Idon’tthinkso(2)

Neutral

(3)

Mostprobab

ly(4)

Definitely(5)

12

IAs require more training/knowledge about the proposal form/KYC/AML

13

The requirements raised at PC are provided in stipulated time which leads to unfullfilment ofTAT?

14

That the systems are slowand it is hampering your performance?

15

That RD should be approving undelivered policies to be sent to branch on a daily/weekly basis?

16

Please tell us any suggestions that you have.

xxiii

ashish massey-summer internship report

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