ICICI Prudential Life Insurance : Sales Soln for Doctor Empanelment

Facing challenges in managing their leads for health insuran- ce, the company developed a customized software to fulfill their needs

Monday, June 01, 2009

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ICICI Prudential Life Insurance offers wide-ranging financial solutions to meet the varied needs of customers. The company intends to improve customer segmentation and also enable their sales force with lead management frameworks that are based on customer segmentation. The company's health insurance products from the extensive portfolio were one of the major focus of business segments and was a fast growing one also. For this segment, the company sold their health insurance policies via distribution channels like doc channel and retail pharmacy. The doc channel has more than 31000 doctors listed while there are 23000 chemists under retailer channel across 65 towns that are used as referral partners to sell health insurance, apart from 2300 Feet on Street Consultants (FSCs). The company faced challenges in managing this highly segmented channel. There wasn't an effective lead management system. The monitoring and reporting framework was also not as reliable. Issues like, as a referral partner, a doctor is giving desired results to the FSCs or not, couldn't be tracked and monitored. The company felt the need to have a customized software application that could address the differential needs of health insurance segment.

Integrated Sales Solution for Doctor Empanelment System was the final evolution of the above stated challenges and the business requirements of this niche segment. This application helps in generation of leads, sales and effective tracking of health insurance through new distribution channels like doc channel and retail channel. And the application gets the distinction of being 1st of its kind to be used in Insurance business.

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