Call Centre Wise Collection

One of the most important objectives of a life insurance company is to maximize its premium collection. If an insurance premium is not paid by the insurance customer on time then the customer is given a grace period of 180 days. This grace period consists of two 90 day periods: branch calling and deep lapse calling. The first 90 days lapse cases are handled by the branches and the next 90 days cases are passed onto call centres. These call centres are given monthly targets. Call centre wise collections show the summary of % collections from the call centres on the basis of different criteria against the given targets.

Challenge 

• Timely issuance of daily detailed reports requiring parallel calculations which utilize resources and is time-consuming.
• Timely delivery of reports to prospective stakeholders and vendors.
• Local storage of historical data is difficult.

Before Sheetkraft Automation

SheetKraft Methodology

• Data is extracted from the source files and calculations are performed. The data is then stored in a centralized database. 
• Data is now taken from the database and further calculations are performed to generate the different kinds of reports and dashboards. The dashboards are generated based on criteria such as :
  • Call centres
  • Payment Method – Online, Cash, Cheque, Bank Transfer
  • Ageing Buckets – 13M, 25M, 37M, etc.
  • Commencement Date
  • Financial year
• These reports and dashboards are then mailed on a daily basis to different stakeholders and vendors.

After Sheetkraft Automation 

Impact of SheetKraft 

Sheetkraft has been able to successfully create the application to generate the daily reports and dashboards in a scheduled, hassle-free, swift manner, automatic, error-free manner. 

• Automatic generation of summary dashboards and reports. (4 reports and 30 dashboards)
• A single centralized database to store data for generating the different types of dashboards.
• System driven and error-free calculation of Target vs Achievement performance metric.
• Facility to mail the generated reports to the prospective stakeholders. 

Effort:

Total Effort Savings ~ 2035 man-hours/ year.