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    Reliance Life Insurance - Presentation

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    Reckon Indepth
    Reliance Life Insurance aims to become the number one private life insurance provider in India. It has implemented various business strategies focused on customer focus, business portfolio diversification, value-added services, and operational efficiency. These strategies are measured using a Balanced Scorecard across financial, customer, internal process, and learning and growth perspectives. For example, customer focus is measured by total sales and reducing complaints, while operational efficiency is measured by earnings per share and strategic partnerships. Reliance Life Insurance seeks to improve further by providing agent training, incentive programs, and enhanced customer service platforms.

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    Reliance Life Insurance - Presentation

    Uploaded by

    Reckon Indepth
    158 views11 pages
    Reliance Life Insurance aims to become the number one private life insurance provider in India. It has implemented various business strategies focused on customer focus, business portfolio diversification, value-added services, and operational efficiency. These strategies are measured using a Balanced Scorecard across financial, customer, internal process, and learning and growth perspectives. For example, customer focus is measured by total sales and reducing complaints, while operational efficiency is measured by earnings per share and strategic partnerships. Reliance Life Insurance seeks to improve further by providing agent training, incentive programs, and enhanced customer service platforms.

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    Reliance Life Insurance - Presentation

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    Reliance Life Insurance aims to become the number one private life insurance provider in India. It has implemented various business strategies focused on customer focus, business portfolio diversification, value-added services, and operational efficiency. These strategies are measured using a Balanced Scorecard across financial, customer, internal process, and learning and growth perspectives. For example, customer focus is measured by total sales and reducing complaints, while operational efficiency is measured by earnings per share and strategic partnerships. Reliance Life Insurance seeks to improve further by providing agent training, incentive programs, and enhanced customer service platforms.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    158 views11 pages

    Reliance Life Insurance - Presentation

    Uploaded by

    Reckon Indepth
    Reliance Life Insurance aims to become the number one private life insurance provider in India. It has implemented various business strategies focused on customer focus, business portfolio diversification, value-added services, and operational efficiency. These strategies are measured using a Balanced Scorecard across financial, customer, internal process, and learning and growth perspectives. For example, customer focus is measured by total sales and reducing complaints, while operational efficiency is measured by earnings per share and strategic partnerships. Reliance Life Insurance seeks to improve further by providing agent training, incentive programs, and enhanced customer service platforms.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    Reliance life insurance

    Strategy implementation and its impact on financial performance using Balanced Scorecard

    Group 13 - Gaurav Kalelkar - Pradeep Bukarwal - Karan Negi - Prabhakar Bannerjee

    Insurance Sector

    Opened to private participation in 1999 Prior to this, insurance market was sellers market dominated by LIC Penetration of 2.2 per cent of gross domestic product (GDP) Agency force 1.5 million Insurance density grew from Rs 280 to Rs 600

    Reliance life Insurance


    RLI is a part of Reliance Capital Ltd. Nippon Life Insurance Company acquired 26% stake effective from October 7, 2011 Incremental market share of 4.5 per cent

    A wide network of 1230 branches and 1,50,000 advisors


    Over 9 million policies

    Corporate strategy

    To become the number one private service provider in India Competitors:


    HDFC Life Insurance Bajaj Alliance Life Insurance Kotak Mahindra Life Insurance, etc.

    Business strategies

    Customer Focus Business Portfolio Diversification Value-added service Operational Efficiency

    Financial Perspective

    Customer Focus

    Total Sales/Net Premium

    Business Portfolio Diversification

    Change in net worth

    Value-added service

    Maximizing profit/Minimizing loss

    Operational Efficiency

    EPS/Perceived benefits to the shareholders

    Customer Perspective

    Customer Focus

    Customer Service

    Business Portfolio Diversification

    New Market

    Value-added service

    Customer retention

    Operational Efficiency

    Strategic Partnership and bancassurance model

    Internal processes Perspective

    Customer Focus

    Reducing Customer Complaints

    Business Portfolio Diversification

    New Products

    Value-added service

    Motivated Workforce

    Operational Efficiency

    Self-service delivery platform

    Learning & growth Perspective

    Customer Focus

    Employee skill development

    Business Portfolio Diversification

    Strategic development and implementation of new policies

    Value-added service

    Align personal goals of talent pool

    Operational Efficiency

    Up-scaling of technology and systems

    Suggestions

    Provide training to their agents and financial so that they can satisfy customer and doubts effectively There must be good incentive schemes to be designed Should initiate more programs like structured postsales customer service platform

    Thank you

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