2. CONTENTS
1. Indian GI Industry Scenario P.03
2. Bharti AXA GI – Story So far P.05
3. Way Forward - 2015 P.08
4. Customer Centricity P.09
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3. Market Scenario
28 Licensed Non-Life Insurers
in market (2014)
900
800
700
600
500
400
300
200
100
6 state owned Companies
17 private sector Companies
5 stand alone Health Insurance
Companies
India GI Industry Portfolio Mix
Fire
9%
Marine
4%
Engineering
3%
Motor OD
24%
Motor TP
20%
Health
23%
Liability
2%
Aviation
1%
P.A.
2%
Other
12%
2013-14
271 305 331
382
484
581
690
775
846
12%
9%
15%
27%
20%
19%
12%
0
2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15
Projected
Indian General Insurance Market
9%
In INR Billions
% growth over previous year
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4. Bharti AXA Market Share Jan-Oct 2014
1.82% 4.4%
Total Market
Private Market Excluding
Health Companies
Public sector companies have retained around 50% market share but are
gradually losing share in retail segment.
First wave entrants( like ICICI Lombard Bajaj Allianz, HDFC ERGO, IFFCO -
Tokio) have established a lead
ICICI & HDFC have benefited from captive bank distribution
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5. Journey at a glance
Front-end applications
set up for reaching out
to partners
• e-motor
• e-health
• e-receipting
• e-marine
• e-PA
• Payment
Gateway
Evolution of number of customers
0.49
0.69
0.99
1.72
2.4
2.00
1.80
1.60
1.40
1.20
1.00
0.80
0.60
0.40
0.20
0.00
2010 2011 2012 2013 2014
Projected
Customer Base in Millions
Internal
Milestones
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7. Financial Performance 2012 -14
In INR millions
Description 2013 2014 Bud. 2014 FC
Gross Written Premiums 13,997 16,797 15,200
Growth Over Last Year 17.6% 20.0% 8.6%
Net LR (Excl. Boni/Mali) 80% 76% 84%
COR (On Net basis) 121% 116% 124%
GWP expect to grow by 8% over same period last year
GWP achievement will approximately be 91% against budget
Net Accounting Loss Ratio is higher than budget.
Expenses and commission marginally ahead of budget.
COR is higher than the budget at 124% primarily because of
higher loss ratio
Internal
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8. Key priorities - 2015
Overall growth of 15% in GWP and breakeven in 2016
Grow Motor Profitably
Accelerate Commercial Lines
Individual Health & Lifestyle Products
Digital
Building Skills for Tomorrow
Customer Centricity
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9. Bharti AXA General Insurance
1st Multiline GI
company to
reach GWP
1000 Crores in
less than 4
years.
4.4% market
share among
multiline Pvt.
insurance
players ( FY
2013)
OUR VISION
To be the preferred General Insurance company for
our Customers, Employees, Shareholders, Business
partners & Society.
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10. What lies ahead?
Customer today is more
demanding has more
information to support his
decision
Increasing competition
More business being
done on internet and
mobile
Should we be bothered?
Why?
( lets look at some examples)
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11. Companies that did not keep their focus on customer
What did these
companies forget to do?
What changed?
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12. Companies that kept their focus on customer needs
What is core to what
these companies do?
How have they made a
difference?
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13. How can we be more aware of our customers needs?
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14. Who is our Customer?
Frontline
Employees
Who interact
with customers
1144 | 12 December 2014 Internal
15. What does it mean to be customer centric?
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BBBBeeeeiiiinnnngggg
SSSSuuuubbbbsssseeeerrrrvvvviiiieeeennnntttt
Our products are
easy to understand
Our customers find it
easy to deal with us
We know our
customers and their
needs
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16. What does it mean to be customer centric?
CASE 1.
You notice a customer waiting in the front office for the past 1 hour.
What do you do?
CASE 2:
An IMD has called our office and for the past 5 minutes has been
transferred from one employee to the other since the sales team
member is not available to attend the call?
What do you do?
CASE 3:
A customer screams and says he will go to media even when the
claim has been repudiated justly.
Do we cave in?
12 December 2014 Internal
16 |
17. What will be your role?
My Team
• Reward recognize customer
My Department
• Be pleasant to customers
• Listen to your customer
• Timely response
• Keep your promises
• Follow processes
• Fine tune processes
• Speak up and recommend
changes
• Distribute work load
• Cross function synergies
• Communicate and celebrate
achievements
• Look for best practices across
industry
Send your SUGGESTIONS on customer centricity to kiran.nair@bharti-axagi.co.in .
mention subject as Customer centricity
centric behaviors
• Measure customer satisfaction
level
• Implement suggestions
• Ensure operational excellence
17 12 December 2014 Internal
18. What’s in it for you?
1. If your suggestions get implemented, you get recognised.
2. The satisfaction of seeing a happy customer is a
recognition of job done well.
3. Greater customer satisfaction leads to greater
organization profitability and growth.
4. Organisation growth means your career growth
5. Organisation growth means different roles across different
functions for you.
18
Satisfied
Customer
Satisfied
Employee
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19. AXA Asia Vision
“We want to protect customers
throughout their life journey
and help them to build their dreams”
Our aspiration is to serve 70 million customers in 2030
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20. Our 2020 Ambition
To be the most preferred
Customer Centric Company
in the General Insurance
Industry in India
20 12 December 2014 Internal
