Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024

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BALIC 360 (Digitally Empowering Sales)
The Digital Insurer
Category: Insurer Innovation Awards 2024
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2. BALIC 360 – Objective
Intelligent Engagement Avenues
Intuitive nudges & insights to ensure
prompt customer servicing
Gen AI Powered Smart Nudges
& Upsell Opportunities
Intelligent nudges, product recommendations
& customer engagement avenues
Customer Intelligence & Data
Enrichment
Alternate data capture mechanism for
sharper customer profiling
Productivity Enhancement
Day Planner, Incentive Tracker &
Simulator and other tools to effectively
manage agent’s daily tasks
Digital Empowerment
An intuitive view of all servicing
opportunities & analytics powered sales
recommendations
Customers in Focus Agents at the Core
Lead Creation & Prospect
Management
Addition of new leads, Pre-Approved Sum
Assured Offers for Prospects and Prospect
Management
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BALIC

3. BALIC 360 – Overview
Customer 360
One-stop platform for all
customer related insights &
opportunities
Intelligent platform for easy
prospect lead creation &
management
Sales 360
Prospect 360
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Generative AI powered Nudge
based platform for sales
performance & productivity
management

4. Sales Management Practice
KPI Overview
A holistic view of all individual & team KPIs
with Gen AI powered nudges
Incentives Tracker & Simulator
Tracking earned incentives & simulate
earning potential
Ensuring adherence to tasks assigned
& ensuring accountable sales practices
Lead Creation
Pre-Approved Sum
Assured for Prospects
Building capability of adding
prospect leads & referrals
Access prospect details and manage
prospect lead disposition
Prospect Management
Identify which prospects have Pre-
Approved Sum Assured eligibility
P
A
S
A
Customer 360 Prospect 360
Raise an Issue
Auto-assignment Module for instant issue
resolution integrated with AGILE technology (Jira)
Sales 360
Dynamic Day Planner
Dynamic day planning based on availability
of sales agent & customer priority
GEN AI Powered Customer Insights
Smart Average Ticket Size & Product
Recommendations based on customer insights
Customer CTA links & Cloud
Calling
Sharing renewal links to customer for payment;
enabling direct calls to customer from the platform
Engagement Opportunities
Various customer engagement opportunities across
the policy lifecycle like maturity, renewals etc.
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BALIC
Project Details

5. Customer CTA
Links
GEN AI powered
Customer Intelligence
Valuable Customer
Insights like:
 Product & ATS
Recommendations
 Customer Scores
 Customer Profiles
Dynamic Day
Planner
Engagement
Opportunities
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Sharing links directly
with the customer via
WhatsApp, SMS &
Email, for:
 Renewal Payments
 PASA offerings
7 Use-cases
related to
customer
engagement
opportunities
Day Planner feature
curates the pending
customer
engagements in order
of priority, making it
easy for the sale
1. Customer 360
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6. Empower RM’s to digitally manage their daily tasks,
meetings, reminders & other customer interactions
through an in-app feature
Day Planner
Disposition Capture to track customer responses & integrate
with LMS
Easy way to add & manage To-do list & Reminders
Intuitive view of planned tasks for the day
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7. Provide actionable customer insights to the RM at an individual
and overall portfolio level
Customer Insights
Inputs to RM for customer engagement
Inferences to get overview of credit, digital & engagement levels
Insights at portfolio level on RM dashboard
Detailed drilldown of customer information
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8. 2. Sales 360
An employee centric extension to Customer 360 which will enable the sales teams to enhance their productivity & manage their
daily tasks more effectively
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Incentive Snapshot
Potential Calculator
Nudges & Summary
KPI Summary
Dynamic Nudges
Trends & Insights
Dynamic Day Plan
Branch Scorecard
Add Commitment
Aggregated view to upper sales levels
Team drill down to the last mile
Team performance overview
KPI Overview Sales Management
Practice
Incentive Summary
& Calculator
Add & Manage
Prospects
Playbook
KPI Overview Sales Management
Practice
Incentive Summary
& Calculator
Hierarchy Roll-up
Sales

9. Dynamic Planner
Dynamic day planner basis pending
meets and KPI requirement
Performance Snippet
Each card shows the current metrics
highlighting focus area
Commitment
Post meeting, RM can add
commitmnet which gets updated
Sales Management Practice (SMP)
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SP/POSP: Point of Sales Person
NOP: Number of Policy

10. Incentives Tracker &
Simulator
Incentive breakdown
A detailed break down of current
and past incentives earned
Simulate earnings
Incentive simulator to understand
how much can a RM earn
Summary & Nudge
Simulation gives detailed breakdown along
with summarising what user needs to do
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GPA: Goal Sheet
Performance Allowance
WPC: Weighted Premium
Credit
VIP: Variable Income Plan
BDA: Business
Development Activity

11. 3. Prospect 360 -
Add & Manage Prospects
Manual Addition
Manual addition of new lead details
on the platform
Lead Prioritization
Leads categorized as Hot, Warm or
Cold basis their responsiveness
Sync with LMS
Any new leads added on this platform
will also be updated on LMS
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12. OPUS & PAS
Customer
Relationship
Management
(CRM Next )
Lead
Management
System (LMS)
Customer
Communications
Management
(CCM)
BALIC CORE SYSTEMS
Internal Data Base
WhatsApp
Google Maps
EXTERNAL APPLICATIONS
360 Service Layer
iManage
HRMS
Cloud Calling
Customer
Segmentation PASA
Analytics DWH
Agent 360 Data Mart
BALIC DWH
Base Layer
JWS for cloud-based platform
Oracle
&
PostgreSQL
for
Big
Data
Analytical Tools - SAS & R
API
Gateway
Intuitive UI/UX
Interface
Device
Agnostic
Custom
Modular
Approach
Channel Specific
Modules & features
( Flexible Channel Approach )
BALIC 360: Technology & Innovation
DWH – Data Warehouse | HRMS – HR Management System | JWS – Java Web Services
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13. • Increase in upsell and cross-sell Lead Conversion
by 7-10% (FY’25 forecast)
Topline Growth
• Platform live for 20,000+ workforce for all sales
needs. Would be extended to ~1lakh sales force by
FY’25
Adoption
BALIC 360 – Business Impact
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14. Thank You
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