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Accenture helped this leading Indian life insurer enhance its sales channels to boost sales force productivity and improve the customer experience. The project included the development and deployment of multiple solutions for an end-to-end transformation for the insurer that covered four growth levers—channel architecture, sales force, technology enablers and customer experience.
With Accenture’s help, the insurer is now positioned to sustain its market-leading position with integrated distribution channels that help to increase revenues and penetration in priority customer segments.
To sustain its strong market position in insurance policy sales, premium growth and market share, the insurer sought to:
Reduce its dependence on the predominant agency distribution channel by integrating multiple channels.
Enhance the productivity, engagement and tracking of its large, unionized sales force and promote healthy competition.
Build a unique brand proposition to tap into the emerging youth market.
Better serve each customer by catering to their individual needs and preferences.
Accenture developed and deployed multiple solutions for an end-to-end transformation for the insurer that covered four growth levers—channel architecture, sales force, technology enablers and customer experience. The solutions included:
A new operating model aligning each of the distribution channels to specific customer segments.
Performance-based segmentation of the sales force aligned with customer segments, integrated sales training, targeted internal communications, rewards and recognition, and career-path development and standardization.
Mobile applications for an enhanced experience and to increase the mobility of both the sales force and customers, and self-service kiosks with check scanners for premium payments and transactions.
Lead generation driven by customer data analytics, tools to better identify cross-selling and up-selling opportunities, and a consistent brand strategy across external communications.
With Accenture’s help, the insurer is now positioned to sustain its market-leading position with:
Integrated distribution channels resulting in increased revenues and penetration in priority customer segments.
Improved targeting of customers based on their unique preferences, greater flexibility for customers to report or follow-up on requests through any channel and increased customer retention.
Enhanced brand image and greater returns on advertising investment, as well as improved creative quality and consistency in messaging.
Comprehensive, real-time sales performance tracking and uniformity of metrics across geographic areas.
Decreased time-to-market for products and improved governance and ownership of end-to-end product development processes.
Increased growth and even greater market share.
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