FICCI provides a platform for networking and consensus building within and across sectors and is the first port of call for Indian

Transcription

1 FICCI India Insurance 09

2 Established in 97, FICCI is the largest and oldest apex business organisation in India. Its history is closely interwoven with India's struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. A non-government, not-for-profit organisation, FICCI is the voice of India's business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of industry. It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over,50,000 companies. FICCI provides a platform for networking and consensus building within and across sectors and is the first port of call for Indian industry, policy makers and the international business community.

3 Given the support and encouragement we receive from senior industry leaders, FICCI s Annual Insurance conference has emerged as the leading platform for industry stakeholders to deliberate on the pressing policy issues and industry trends that would shape the growth of the Indian insurance industry over time. While it will be our endeavour to present yet another exciting edition of the Insurance conference next year, we also plan to launch the inaugural edition of the FICCI Insurance at the next conference. The objective of the FICCI Insurance is to establish this as a widely accepted icon of great performance in the India Insurance industry. The nominees for each will be judged by a jury comprising eminent people from within and outside of the industry based on the responses from nominees, public data and customer survey. About FICCI INDIA Insurance 09

4 Process Expression of Interest: FICCI will reach out to all insurance CEOs to introduce the s. Interested insurance companies have to respond back expressing their interest to participate and nominate a senior SPOC with whom FICCI can co-ordinate the entire process. Application: Below is the list of s. Insurance companies have to send their applications for each of the s on the given id by 0th January 09. A separate application is required for each, the application needs to be written in MS Word with Arial font of minimum 4, each application should not exceed more than 5 pages. All applications should include detailed response to "Why do you think your company deserves to get this?" under which the company can share data, case studies, customer reviews, third party surveys, references or any other supporting material either in the same word or as separate attachments as necessary. For each nomination, companies are expected to submit a thorough response and present their best case. FICCI will reach out to all interested companies and share details on applications in December 08 and companies will have time till 0th January 09 to submit the responses.

5 Process Jury and criteria for deciding the winners: A well respected panel of jury will be empaneled for selecting winners across each category. Jury will assess the performance of all nominees basis the application and any publically available information. Based on the review of applications, there might be a round of presentations to jury for some of the categories, the details and timing of it will be communicated to shortlisted applicants. The jury panel will independently pick winners basis review of applications, presentations, public information and joint deliberation. Important dates: The last date for submitting the applications is 0th Jan 09. Jury sessions will happen in Feb 09 and winners will be announced at a special s function which will be held along with the next FINCON in Mar 09. Exact dates will be shared with all applicants in due course.

6 List of SEGMENT Technical Customer Focus CATEGORY LIFE Most innovative insurer Digital for sales enablement Digital for process digitization Claims excellence Partnership of the Year Insurance CEO of the Year Insurer of the Year Best CSR Initiative Most Customer Friendly Insurer Best Insurance Campaign Corporate Other Industry NON-LIFE & SAHIs Best InsurTech Insurance Inclusion * s each, as below: Life: Category of life insurers with ANBP of Rs.,000cr and above, category with ANBP of below Rs.,000cr in FY8 Non-life: Category of non-life insurers with GWP of Rs. 4,000cr and above, category with GWP of below Rs. 4,000cr in FY8

7 Application details AWARD *For *For each each nomination, nomination, the the applications applications should should explain explain in in detail detail why why they they deserve deserve the the,, the the applications applications should should be be supported supported with with relevant relevant data data (with (with past past comparison comparison as as necessary) necessary) facts, facts, surveys, surveys, external external studies, studies, reports, reports, case case studies, studies, include include demos demos of of live live apps/tools, apps/tools, relevant relevant s s won won by by the the company company in in the the past past and and other other relevant relevant information information etc. etc. *For *For each each nomination, nomination, there there might might be be requests requests for for more more data/details data/details etc. etc. on on reviewing reviewing the the submissions submissions *Below *Below list list is is indicative, indicative, applicants applicants are are encouraged encouraged to to share share more more relevant relevant details details as as necessary necessary QUESTIONS/DETAILS TO BE INCLUDED IN RESPONSES Describe innovation you would like to nominate in detail Most innovative insurer Scale of innovation achieved What has been the impact in terms (top-line, bottom-line, TATs, leads, process parameters, customer service, financial impact etc.) of before and after Describe in detail which all sales processes are available on mobile applications - e.g. lead management, policy login, documentation, verification, sales training etc. Describe digital tools, features for sales enablement and adoption by sales force Digital for sales enablement What % of retail policies are issued through tablets and mobile apps? What has been the impact in terms (top-line, bottom-line, TATs, leads, process parameters, customer service, financial impact etc.) of before and after Describe modes of on the go support you have for sales resources - e.g. on call, chatbot, etc. Include demos of live applications/tools What is the avg. TAT for policy issuance from login to disbursement for retail policies (for Non-life, mention LOB wise) Digital for process digitization Describe about the processes that the company has digitized end-to-end and believes are best in class with supporting details like TAT, FTR, hand-offs etc. What has been the impact in terms (top-line, bottom-line, TATs, leads, process parameters, customer service, financial impact etc.) of before and after Include demos of live applications/tools

8 Application details Claims excellence *For each nomination, the applications should explain in detail why they deserve the, the applications should be supported with relevant data (with past comparison as necessary) facts, surveys, external studies, reports, case studies, include demos of live apps/tools, relevant s won by the company in the past and other relevant information etc. *For each nomination, there might be requests for more data/details etc. on reviewing the submissions *Below list is indicative, applicants are encouraged to share more relevant details as necessary Describe ease of claims process related initiatives that the co. has taken and what has been the impact Avg. claims settlement TAT from intimation to disbursement (for Non-life, mention LOB wise) Describe customer service initiatives that the company has taken since Apr 07 and the impact Avg. for responding to customer query Most Customer Friendly Insurer Best Insurance Campaign Avg. TAT for complaint resolution Mention all the services customers that can be done through self service, intermediary and in a branch Describe customer service initiatives that the company has taken since Apr 07 and the impact Nominate the best insurance campaign that the co. has undertaken since Apr 07, describe the campaign and the impact Describe the most successful partnership you have had since Apr 07 and would like to nominate Partnership of the Year Describe the integration done to make the partnership successful - e.g. customization of processes, dedicated teams etc. What has been the impact on top-line, bottom-line, processes etc. What are the KPIs for the partnership and performance

9 Application details Insurance CEO of the Year Insurer of the Year *For each nomination, the applications should explain in detail why they deserve the, the applications should be supported with relevant data (with past comparison as necessary) facts, surveys, external studies, reports, case studies, include demos of live apps/tools, relevant s won by the company in the past and other relevant information etc. *For each nomination, there might be requests for more data/details etc. on reviewing the submissions *Below list is indicative, applicants are encouraged to share more relevant details as necessary Descrive key achievements for the company under the leadership of the CEO since Apr 07 What have been new initiatives undertaken and what has been the impact Describe the key achievements for the company since Apr 07 across top line, bottom line, customer centricity, shareholder value etc. Describe what competitive advantages the company has Describe the initiative that you would like to nominate in detail Best CSR Initiative What has been the impact achieved in terms of no. of lives affected, employment generated, change achieved etc. What is the vision for the initiative and next steps planned How is this initiative scalable and replicable Insurance Inclusion Which all government insurance schemes have you participated in and how many lives covered/policies sold under each scheme What are other insurance inclusion initiatives taken by the company and what is the impact

10 Participation fees Contact Us Rs. 0,000 per category + taxes (*0% discount on participation in 3 or more categories) Gunjan Aggarwal Deputy Director FICCI, Financial Sector Dept. Federation House, Tansen Marg New Delhi , gunjan.aggarwal@ficci.com