How ICICI Lombard Intensifies Sales with Agent Performance Reports

Boosting the productivity of every sales agent with personalized agent performance reports.

Impact
2000 Hours of manual efforts saved in report analysis
4000+ Reports consumed actively by insurance agents
7 Days expediated for monthly report generation

Business Challenge

Limited Views Obscures Insights

The business analyst team at ICICI Lombard manually analyzed and produced agent performance reports based on various datasets. The reports were created from a top-line perspective with limited insights, proving to be challenging to scale as the number of agents increased.

Moreover, due to time constraints and lack of data resources, it was impossible to share personalized performance report with each independent agent. This inept process made it difficult for business teams to identify performing agents, further missing opportunities to acknowledge and motivate them for better results.

On the other hand, amid busy schedules and client closures, the independent agents found it challenging to keep a tab on their assigned targets. The limited communication from the business team failed to give them the required visibility on their performance. This situation hindered the motivation of the agents and increased the attrition rate for the insurance company.

Key Problems Identified:

  • Lack of manual bandwidth to provide personalized performance analysis to each agent.
  • Difficulty to present detailed insights and learnings to independent agents from large datasets.
  • Incompetent KPI evaluation due to disorganized data management and monitoring.
  • High attrition rates due to lack of performance recognition & motivation.

“We have been using Phrazor to generate customized reports for our various stakeholders. It is a widely accepted and appreciated platform. Moreover, because they keep enriching it with new features.”

- Siddharth Diwan | AVP - Technology


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ICICI Lombard

Company Overview

Leading the private sector players in the general insurance industry, ICICI Lombard has its presence across the nation with over 265 branches and 910 virtual offices. The company owns a market share of 15.6% and caters to a vast clientele with its robust field force of 4000+ agents, and a well-diversified range of products in motor, health, travel, personal accident, crop, fire, marine insurance and more.

To keep pace with the growing competition and boost sales revenue, it had become important for the insurance giant to closely monitor the performance of their independent agents.


Industry
Finance & Banking
Branches
265
Employees
8444+