Microsoft India – AEGON Religare Case Study

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AEGON Religare Life Insurance, a new player in Indian insurance market, is dedicated to build a firm future, both for customers and employees by balancing a local approach with the power of an expanding global operation. A new entrant in the insurance industry, the company needed to target and capture significant market share. To help achieve its goal, the company required a robust, integrated customer relationship management solution. With help from Religare Technova, a Microsoft® Certified Gold Partner, it opted to deploy Microsoft® Dynamics™ CRM 4.0. The implementation has aligned the company’s sales and customer services strategies. It has also resulted in increase in efficiency of business processes across branches.

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Microsoft India – AEGON Religare Case Study

  1. 1. Microsoft Dynamics Customer Solution Case Study Insurance Company Gains Competitive Edge, Increases Customer Base with CRM Solution Overview “The solution creates an efficient working Country: India Industry: Insurance environment for us, and we are seeing the results in more satisfied customers.” Customer Profile Srinivasan Iyengar, Director - Information Technology & Change Mgt, AEGON Religare AEGON Religare Life Insurance Company Limited, launched in July 2008, is a joint venture between AEGON, a leading life insurance and pension group and Religare, a diversified financial services group in India. AEGON Religare Life Insurance, a new player in Indian insurance Business Situation market, is dedicated to build a firm future, both for customers and A new entrant in India, AEGON Religare did employees by balancing a local approach with the power of an not have a customer management solution. To capture a dominant market expanding global operation. A new entrant in the insurance share in the highly competitive insurance industry, the company needed to target and capture significant industry, the company required an efficient solution to manage customers through the market share. To help achieve its goal, the company required a entire lifecycle. robust, integrated customer relationship management solution. Solution With help from Religare Technova, a Microsoft® Certified Gold To accomplish its goals, AEGON Religare Partner, it opted to deploy Microsoft® Dynamics™ CRM 4.0. The opted to implement Microsoft® Dynamics™ CRM 4.0 with help from Religare Technova, implementation has aligned the company’s sales and customer a Microsoft® Certified Gold Partner. services strategies. It has also resulted in increase in efficiency of Benefits business processes across branches.  Improves efficiency across branches  Enhances customer satisfaction  Provides greater customization
  2. 2. Situation  Pin Code mapping for assignment of Lead AEGON, one of the world’s largest life to Business Manager or Agent insurance and pension groups and Religare,  Sending alerts to user one of India’s leading integrated financial  Escalation of mails of multiple Leads services groups, have come together to  Incorporating Non-CRM users in a case launch AEGON Religare Life Insurance  Mapping Department with Assignment and Company Limited. This venture is dedicated escalation of the case to build a firm future, both for customers and  Auto assigning cases to Non-CRM user employees and will continue to balance a local approach with the power of an There was a pressing need to incorporate expanding global operation. certain processes. Elucidating the need for customer management solution, Srinivasan The company launched its pan-India multi- Iyengar, Director - Information Technology & channel operations in July, 2008 with over 25 Change Mgt, AEGON Religare says, “With faster, automated branches spread across India. Its business “Customer-focused strategies require CRM philosophy is to help people plan their life solution to help acquire customers thorough processes within the better. It provides high quality advice to various touch points and translate new system, employees customers and offer superior customer operational data into actionable insights for service. proactively serving customers.” As a result, can spend more time the company decided to opt for a solution building customer In an industry first, AEGON Religare Life that would help it achieve competitive Insurance offers policy servicing on the advantage. loyalty.” phone via Interactive Voice Response (IVR) Srinivasan Iyengar, Director - Information System by issuing the customer a T-Pin for Technology & Change Mgt, AEGON Religare authentication. It is also the first company to Solution include the customer’s medical report in the AEGON Religare considered a number of policy kit. options and decided to implement Microsoft® Dynamics™ CRM 4.0, supported by Religare In a servicing industry, Lead Management Technova, a Microsoft® Certified Gold and Case Management are the areas where a Partner. company has to concentrate more to make themselves different from others. The main According to Srinivasan Iyengar, “Our industry objective for AEGON Religare was to faces unique, multiple challenges such as automate its sales force, customer service, high levels of customer churn; attaining net and reporting systems. growth in customer base; selling more products to existing customers to improve Some of the other challenges faced by the profitability etc. Religare Technova which has company were: in-depth understanding of the financial  Auto assignment of Lead to Direct Agency services industry and its demands is best or Tied Agency as per-defined logic suited to partner with us in our endeavour to  Servicing City mapping for assignment of streamline.” Lead
  3. 3. The company selected Microsoft® Dynamics™ Automation, Lead Management, Case CRM 4.0 as the base application for Lead Management, and Campaign Management. Management, Service Management and Campaign Management. It also has the Commenced in September 2007, the facility to customize and get maximum output implementation was completed by February in terms of day-to-day data, which can be 2008. The solution was implemented at the used for MIS reports. company’s office in Mumbai and access was extended across all locations. AEGON The two important modules that were Religare deployed the Sale, Marketing, and customized by the solution were: Service modules.  Lead Management System: This is the most important system where the company With Microsoft® Dynamics™ CRM 4.0, interacts with prospects. To have better employees are better equipped to deliver control, prompt action and outstanding highly personalized customer services and service to the customer, a special logic is improve customer satisfaction. The company introduced in the Lead Management now has a solution that will support the System, which will automatically allocate team’s growth for years to come. the nearest agent for each Lead. An allocation SMS alert is dispatched to the agent along with the client details. The Benefits leads can be generated by Web, internal Microsoft® Dynamics™ CRM 4.0 allowed portal, e-mail, SMS, phone or direct walk-in. AEGON Religare a granular view of its  Case Management System: The client customers, helping the company to design base can be retained and also grown by better products, improve service levels and solving issues as early as possible. In this reduce operational costs significantly. system, cases automatically get assigned based on the reason type and severity. All Improves Efficiency Across Branches case related activities are recorded in CRM AEGON Religare has more than 50 branches Activities and have escalation as well. The across India where leads are assigned and user defined escalations play a significant cases addressed. “Because of Microsoft® role to follow and control the company Dynamics™ CRM 4.0, all leads are assigned process, and provide quick service to the automatically and every lead is attended customer. Cases can be raised by phone, based on the assignment matrix,” says e-mail, Web, or internal portal. Srinivasan. “In addition, agents get the assignment alerts along with client “Microsoft® Dynamics™ CRM 4.0 is designed information, which ensures that services of specifically to meet the needs of client-facing all agents across India are properly utilized.” staff of insurance companies,” shares Srinivasan Iyengar. Srinivasan says, “With faster, automated processes on systems, employees can spend Some of the unique requirements addressed more time building customer loyalty. As a with the new solution were: Customer Service result, productivity has improved.”
  4. 4. Enhances Customer Satisfaction With a combination of easy-to-use customer interfaces and robust functionality, Microsoft® Dynamics™ CRM 4.0 delivers quick and easy access to customer information. Clients can reach the company by all possible mediums like, direct walk-in, phone, e-mail and SMS. This intuitive access has improved both employee and customer satisfaction. “The solution creates an efficient working environment for us, and we are seeing the results in more satisfied and successful customers,” says Srinivasan Iyengar. Provides Greater Customization The solution also improves campaign management for AEGON Religare. It traps all promotional activities of the company. A custom made campaign, KILB – Kum Insurance Lene Ki Bimari, was introduced by AEGON Religare and all leads were mapped with this promotion management tool. The response of the campaign was captured through Microsoft® Dynamics™ CRM 4.0. By this the company will able to know the impact of the promotion. In addition, all leads will be attached with the latest active campaign which will help company take monitory calls.
  5. 5. For More Information About Religare Technova Microsoft Dynamics For more information about Microsoft Religare Technova Limited is the holding Microsoft Dynamics is a line of integrated, products and services, call the Microsoft company for the IT business of a large adaptable business management solutions Sales Information Center at (800) diversified Indian transnational business that enables you and your people to make 426-9400. In Canada, call the Microsoft group. The Religare Technova umbrella business decisions with greater confidence. Canada Information Centre at (877) includes Religare Technova Global Solutions Microsoft Dynamics works like familiar 568-2495. Customers who are deaf or Ltd. (formerly Asian CERC Information Microsoft software such as Microsoft Office, hard-of-hearing can reach Microsoft text Technology Ltd and Capital Market Solutions which means less of a learning curve for your telephone (TTY/TDD) services at (800) Pvt. Ltd.), a global leader in providing people, so they can get up and running 892-5234 in the United States or (905) Enterprise Software Solutions to the Capital quickly and focus on what’s most important. 568-9641 in Canada. Outside the 50 and Financial markets; Religare Technova IT And because it is from Microsoft, it easily United States and Canada, please contact Services Limited, which provides Enterprise IT works with the systems that your company your local Microsoft subsidiary. To access Solutions and Religare Technova Business already has implemented. By automating and information using the World Wide Web, go Intellect Ltd., which provides Knowledge streamlining financial, customer relationship, to: www.microsoft.com Management Solutions. and supply chain processes, Microsoft Dynamics brings together people, processes, For more information about AEGON Currently with over 1500 employees and and technologies, increasing the productivity Religare products and services, 1800 209 presence in over 10 countries, Religare and effectiveness of your business, and 9090 or visit the Web site at: Technova is poised to be a leader in the helping you drive business success. www.aegonreligare.com global IT space. The group entities have partnered with IT majors, Independent For more information about Microsoft For more information about Religare Software Vendors (ISVs) and Internet Dynamics, go to: Technova products and services, write to companies to provide a broad spectrum of IT www.microsoft.com/dynamics connect@religaretechnova.com or visit the services, products and solutions to their Web site at: www.religaretechnova.com customers. Religare Technova focuses on clients in key verticals such as Banking and Financial Services, Insurance, Capital Markets and Health Sciences. Software and Services Hardware  Microsoft Dynamics  Dell PowerEdge X86, Intel Xeon 2 GHz, 2 − Microsoft Dynamics CRM 4.0 GB RAM, 300 GB HDD  Microsoft Server Portfolio Products − Windows Server 2003 Partner − Microsoft SQL Server 2005  Religare Technova Limited This case study is for informational purposes only. MICROSOFT − Windows Terminal Server MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY. Document published January 2009

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