Presented by:-Ketan ThakurSwati DheshmukhAshrit MehtaArpit VishnoiBhanu Partap
Case introduction AXA is a French global company headquartered in Paris. Engaged in life health insurance and investment...
 It has 42 subsidiaries ,1600 employees and 4000 general  agents. Its turnover is around $45 million(US). In 1994, AXA ...
This group encompasses 5 operating business segment— Life & Savings -This product segment offers a wide range of product ...
Problems In 2001, economic slow down due to which decline in corporate earnings.In the life insurance segment, insurance...
The dmaic principles•   D   - Define•   M   - Measure•   A   - Analysis•   I   - Improve•   C    - Control
DMAIC PRINCIPLE- THE AXA WAY
Implementation @axa• D – identification of complaints• M – audit of a sample of payments• A – instance of inaccurate payme...
Customer focus                                     Fact Based MethodListening to the voice of the customers(VoC)       Dat...
EMPLOYEE OWNERSHIP - AXA way Being a service industry :-  AXA considered its employees as its most valuable asset and  be...
CONTINUOUS IMPROVEMENT Regular customer feedback & incorporating it into its products  and services across the organizati...
BENEFIT OF THE IMPLEMENTATION OF            “AXA WAY”• Ranked as most preferred company.• 23 companies accounted 90 percen...
Changes• In a span of one year 200 ideas were presented of which 20  were implemented.• Scope survey score increased from ...
The axa way-improving quality of service by ketan thakur
The axa way-improving quality of service by ketan thakur
The axa way-improving quality of service by ketan thakur
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The axa way-improving quality of service by ketan thakur

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The axa way-improving quality of service by ketan thakur

  1. 1. Presented by:-Ketan ThakurSwati DheshmukhAshrit MehtaArpit VishnoiBhanu Partap
  2. 2. Case introduction AXA is a French global company headquartered in Paris. Engaged in life health insurance and investment management. Operates in Western Europe ,North America and Asia-Pacific and Middle-East. In 1988, merger between AXA and Company Du Midi , In the same year AXA got listed in Paris stock exchange.
  3. 3.  It has 42 subsidiaries ,1600 employees and 4000 general agents. Its turnover is around $45 million(US). In 1994, AXA established AXA Asset management in Europe and later renamed it as AXA Investment Managers. In 1996, AXA came out with an American Depositary receipts and got listed in New York Stock Exchange. In 1999, the acquisition of Guardian Royal Exchange made AXA the largest player in Ireland non-life Insurance industry.
  4. 4. This group encompasses 5 operating business segment— Life & Savings -This product segment offers a wide range of product for individuals and group. Includes life, health, saving and retirement related products. Property and Casualty- Includes automotive, homeowners, houshold property for small to medium sized companies. International Insurance- corporate solutions Asset Management- specialist teams who look after the activities in western Europe, United states and Asia Pacific. Other financial services - Includes cash flow management, bank account services to AXA-clients .
  5. 5. Problems In 2001, economic slow down due to which decline in corporate earnings.In the life insurance segment, insurance companies faced pressure ontheir investment margins and low fees on universal life insurance products.Poor economic conditions in Japan adversely affected the consumerconfidence in financial products.Due to global recession in 2001 AXA revenues dropped by 6.25%compared to 2000.AXA had to deal with several management issues, legal issues, capitalallocation, integrating people and process due its merge with differentcompanies
  6. 6. The dmaic principles• D - Define• M - Measure• A - Analysis• I - Improve• C - Control
  7. 7. DMAIC PRINCIPLE- THE AXA WAY
  8. 8. Implementation @axa• D – identification of complaints• M – audit of a sample of payments• A – instance of inaccurate payments and the causes of mistake• I – correct commission rates,• C - query system
  9. 9. Customer focus Fact Based MethodListening to the voice of the customers(VoC) Data Driven approachImproving processes performance to meet customer key measures identifiedExpectationsContinuously listening to VoC Employee ownershipTransfer to tools and method tosystematically Control and act on the empowering employees performance. to act on the performanceBuilding a customer and performance of their processesOriented culture.
  10. 10. EMPLOYEE OWNERSHIP - AXA way Being a service industry :- AXA considered its employees as its most valuable asset and believed in keeping them motivated. AXA kept its employees informed about the strategies and objectives of the group. AXA had been conducting scope surveys for its employee to measure employee satisfaction. Proper work environment .
  11. 11. CONTINUOUS IMPROVEMENT Regular customer feedback & incorporating it into its products and services across the organization. AXA Ireland started “Mad House” Program “VOC” was used by AXA to introduce several new products. AXA introduced Multihelp(Germany), comprising of four different insurance products. Driving Help -insurance to drivers Travel help -loss cause due to flight delay Home Help -security services Insurance according to the mileage estimate(Italy)
  12. 12. BENEFIT OF THE IMPLEMENTATION OF “AXA WAY”• Ranked as most preferred company.• 23 companies accounted 90 percent of the growth revenues.• Customer satisfaction• Customer retention• Annual benefits-technical gains, productivity gains, reduction in general expenses, incremental revenues, cost reduction• Wide range of the product
  13. 13. Changes• In a span of one year 200 ideas were presented of which 20 were implemented.• Scope survey score increased from 36 in 2003 to 47 in 2005.• Customer satisfaction on servicing increased from 64 to 69 percent, and in customer satisfaction on selling , it increased from 64 to 79 percent• Customer retention in Japan, surrender rate(10.6% in 2002 to 6.6% in 2004), reinvestment rate for maturities in Portugal(48% in 2004 to 57% in 2005), reinvestment rate in Italy(27% in 2004 to 44% in 2005) & in Spain(23% in 2004 to 42% in 2005)• Increase in annual benefits € 38 million(2003) to € 200 million(2006)

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