Team Excellence – Live Case Studies

Max Life Insurance Company Limited
Enhancing Service To Recruitment (S2R) Business Contribution for PAN India
India

Live Case Study Presenter(s)

• MC

  Max Life Insurance Company Limited

Recruiting quality agents to sell life insurance is a difficult task. An entire life insurance business depends on the number of agents hired and their productivity. This project team focused on an innovative agent recruitment approach. The team pitched career opportunities to walk-in customers visiting branch offices for policy servicing needs to entice them into becoming insurance agents. This source of agent hiring is called “S2R” or “service to recruitment.” Max Life is the first to introduce this initiative among life insurance companies in India. Collaboration with cross-functional teams, robust change management techniques, and effective project management methods were used with a structured DMAIC approach, where tools like scatter plot, importance vs. satisfaction matrix, process capability study, multivoting, FMEA, and Pareto were used along with statistical tools like ANOVA, chi square, and 2P test to diagnose and detect root causes that were categorized into people, process, and technology. Effective structural fixes like resource allocation, staffing strategy, people development, and technology interventions ensured the sustenance of the project results. The team was successful in enhancing its S2R contribution from 15 to 21 percent by recruiting 5,210 agents, thereby, generating revenue of US$3.36 million and creating significant impact for the business and customers.