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Our client is one of the Best General Insurance Companies in Asia and they received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration in 2001. They are renowned for their outstanding customer service levels and innovations in the field of insurance.
They have been generating continuous profitability over the years. Today the company has a country-wide network in over 200 towns spread from Surat to Siliguri and Jammu to Thiruvananthapuram. Their Head Office is located in Pune.
Workforce size: 500
Levels: Executive (Level 1) and Junior Manager (Level 2)
The company’s full-time sales executives (called the Recruiters - POS team) have the following activities as their deliverables: Code generation, Activisations, and Premium collected. The POS team primarily visits businesses in their territory to recruit them as Insurance sales partners. When the business owner signs up as a partner, it is called a ‘code generation ’(expressed as a new recruitment count). When a business owner sells a policy, it is called an ‘activation’ (this is expressed as a count of policies sold). The total premium collected by the business owner is expressed as ‘Premium collected’.
While there are monthly reports of Code generation, Activisations, and Premium collected sent out to the POS team, they need to raise a request to update the number of activisation, the premium collected, and resultantly the incentive they are eligible for. It takes an average of a day for this report to reach them or their manager.
The company wanted this performance data to be more transparent and readily available for their POS team. They also wanted to use this data to nudge the team to perform better and recognize the high achievers.
Compass Program design, User Management, and Data Sources & Variables features were used to construct the below-given incentive logic.
Both the Level 1 and Level 2 recruiters are eligible for the incentive if at least 40% of their new POS agents have been active. Yet again, a POS agent will be considered active only if they meet the following conditions:
Achievement Conditions:
One active POS within same month: INR.50/-
Two and above active POS within same month: INR.100/- per recruitment (codes generated)
Level and Tenure Conditions:
Level 1 and Tenure 1 Month:
Recruitment Target: 10
Incentive: Rs.100 per recruitment
Level 1 and Tenure > 1 Month to 6 months:
Recruitment Target: 25
Incentive: Rs.100 per recruitment
Level 2 and Tenure 1 Month:
Recruitment Target: 14
Incentive: Rs.150 per recruitment
Level 2 and Tenure > 1 Month to 6 months:
Recruitment Target: 35
Incentive: Rs.150 per recruitment
Nudge Conditions:
Target milestone-wise nudges for:
Level 1 and Tenure 1 Month:
Cumulative Recruitment Milestones: 3, 5, 8, 10
Frequency: Weekly
Level 1 and Tenure > 1 Month to 6 months:
Cumulative Recruitment Milestones: 7, 13, 19, 25
Frequency: Weekly
Level 2 and Tenure 1 Month:
Cumulative Recruitment Milestones: 3, 7, 10, 14
Frequency: Weekly
Level 2 and Tenure > 1 Month to 6 months:
Cumulative Recruitment Milestones: 9, 18, 27, 35
Frequency: Weekly
Performance warning nudge
The Level 1 and Level 2 recruiters who have not achieved a minimum 75% of their recruitment target and 25% activation in a quarter need to be notified with a performance warning nudge to improve their performance - else face separation in the coming months.
Compass Groups feature was used to send out team messages that offered the below:
The Compass dashboard feature offered branch and regional managers to view the below:
The impact of the above Compass implementation was evaluated using:
Heavy top-down drive, TTTs (train the trainer) programs, and training webinars helped drive awareness.
Webinar + leaders (indicating top-down messaging) contribute to 68% of the download compared to Whatsapp (Grassroot messaging).
The successful awareness initiative leads to a successful number of downloads.
A successful number of downloads and awareness initiatives pushed the feature usage.
The users were asked to review the app based on their perception of the below benefits on the rating scale: 1 - Highly Dissatisfied, 2 - Moderately Dissatisfied, 3 - Neutral, 4 - Moderately Satisfied 5 - Highly Satisfied.
Performers seem to be heavy adopters of Compass.
Avg. Codes Generated per Team member
Growth: 136%
Avg. Active recruitments per Team member
Growth: 100%
Overall growth % in codes generated.
Overall growth % in active recruitments
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