Challenges
One of the largest general insurance companies in India, having a very large distribution and direct sales team had challenges in effectively managing the distribution and sales team. The challenges that they had were:
- Only 20% of their distribution were managing to reach the expected productivity levels, while they were incurring onboarding and management costs on all of 100% distribution.
- They wondered if there are any non-KPIs (demographic, background etc) pattern among the high and low performing agents. If yes, they had no knowledge on that. In the want of that, they were not able to target candidates having traits similar to high performing agents.
- They were not able to have data driven discussions with agents to help them improve their performance.
- They had close to 15 KPIs. They had no way of comparing the different agents based on the 15 KPIs.
- The incentive calculation of their sales team was very complicated. Because of the complication, they used to release the incentives once a quarter. The complication in calculation also meant that any sales guy was not knowing about his achievements and incentives only at the end of the quarter.
Solution
They contracted Pentation for deploying AI Powered Sales Management Tool (Darwin). With this tool, they are able to know:
- The profiles of agents who are high performing, low performing and other performance levels
- Answer to the question ‘How does a high performing agent looks like?’
- AI powered Insights and recommendation for an agent to improve his/her performance
- Bucketisation of agents based on KPIs driven scores and its trend over a period of time.
- Automation of incentives based on real time performance.
Business Impact
Deployment of Darwin has improved:
- the productivity of agents and sales team
- improvement in the onboarding of agents who are more like to meet the performance expectations of the insurance company.
- Improved satisfaction amongst the sales team because of them knowing their performance on real time basis
