Customers: ICICI Prudential Life Insurance By Senior Vice President, Service delivery ICICI Prudential Life Insurance Company Ltd.

1. Customers
Ashish Rao
Senior Vice President – Service Delivery

2. Our journey so far
CPC model instituted
- Centralized operations
(in-house)
- Decentralized servicing
2000 - 2003
Outsourcing drive
- Data entry
- Print
- Contact Centre
management
New Activities centralized
- Distribution operations
2003 to 2007
Shared Service established
Coexists within CPC
2007 to present
 Operating on a centralized model since inception
 Host of touch points enable customers & distributors
to get in touch with us

3. CPC - Transformation & Future State
HR Shared Services
(HRSS) conceived.
Takeover of ExOps from
Finance.
Awarded “ICICI Group
Process Excellence
Award”.
Takeover of Direct Payouts
from Finance
Takeover of R&R processing
& redemption from Sales
Development.
Takeover of Sales
Commercial from Finance
Winner of IPRU “Best Prax”
award.
Mid-office elimination
Increase in Self Service
Digitization – Online Sales &
Servicing
Integration of System and
elimination of non-value add
process
Top 5 “Quality Process” ICICI
Group
Developed capability to support
5X increase in current volumes
Takeover of Policy Holder
payouts.
Takeover of Company
Taxation & Compliance.
Takeover of New Business
policy issuance
Takeover of Policy Servicing
transaction processing
Takeover of Proactive
communication
90% transactions processed
by CPC
Impact on Internal customers
Impact on External customers
Success & Recognition

4. Impact on Customers
Business
Owner
Employee
/ CPA
Vendor
Change in
customer
experience
 New process outsourcing
 Automation to error proof
processes
Customer
Entity Impacted Change Fear Enablers
No change
Loss of
Control
Process
Elimination
Reduction in
Txn /Billing
Business Metrics
Error increase
Customer Complaints
Loss of Job
Increased Workload
Low end work
Error Penalty
MBG
 Internal Job postings
 Movement to group
companies / Cross Skilling
 Automation
 Customer Interaction
surveys
 Internal Quality controls
 Regular updates on process
/ critical parameters
 Feedback mechanism

5. Case Study # 1 – Insourcing NB
Business
Owner
Employee
/ CPA
Vendor
Delay in Login
 No Impact
Distributor
Entity Impacted Change Fear Enablers
No change
Loss of
Control
Process
Elimination
Reduction in
Txn /Billing
Delayed Issuance
Incr. in Rework
Pressure from Sales
Data entry eliminated
No Impact
 Cross trained on Value
added services like
Retention / Surrender
prevention / Upsell
 Acceptance still at branch
 Basic document scrutiny at
branch
 Branch enabled to resolve
distributor queries
 Discrepancy checks
automated

6. Thank You