by July 6, 2009 0 comments

Q What are some of the business challenges that your organization faces?
Being a new entrant in the Life Insurance sector, the main challenge is to
differentiate ourselves from others in the market through well focused products
& superior service. Another challenge is also to help our customers plan their
long term financial goals by offering right insurance products which helps them
achieve their goals confidently.

Q How do you think IT can help in tackling those?
Technology is a key driver for us to deliver products and services to our
customers. We are one of the first companies to launch on Day 1, a TPIN-based
secure IVR facility, Customer Portal, fully integrated CRM and e-statement, thus
ensuring that we deliver superior service & empower “Self Service” facility to
the customer. For our sales force, an integrated lead management and fulfilment
solution helps to drive lead conversion while agency portal enables them to stay
updated on information related to their performance & client portfolio. We have
also launched payment gateway to enable customers to pay premium through web. We
shall be launching soon a unique e-Sales channel which will enable customers to
plan & buy policies online.

QHow does top management encourage the IT department to plan and carry out
new deployments?
Technology plays a key role in helping an organisation deliver superior
customer experience. In AEGON Religare Life Insurance, IT is a key stakeholder
right from the conceptualisation of business strategy to its implementation.
This philosophy has ensured that our IT team has been able to deliver systems
and facilities well in time before strategy implementation.

QWhat are some of your learnings from the current economic slowdown?
The current slowdown does pose a challenge for all sectors including us.
However, this is the best time for a consumer to take stock of his financials by
having a planned, consistent & long term approach. Continuing to save during
these times will lead to better returns in long run.

QHow do you plan to grow your business in future?
Having launched a multi-channel distribution strategy in our first year, our
focus now is on increasing productivity and profitability. We have put in place
measures which will help us realise the desired productivity and volumes which
in turn will enable us to make our branches profitable by the end of 3rd year.

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