Company: Future Generali India Insurance Company Ltd., Mumbai, India
Company Description: Future Generali India Insurance is a JV between the Future Group: Game-changers in Indian Retail & Generali Group: Renowned 187 year old Insurer. As a second-generation player in our 12th year, we have 125+ offices, 1.5+ million customers, AUM worth Rs. 3,198 crore & settle 210K claims per year. Customers & partners alike recognize us for customer-centricity & fairness in claim-settlement.
Nomination Category: Customer Service & Call Center Awards Team Categories
Nomination Sub Category: Customer Service Complaints Team of the Year - Financial Services Industries
 Nomination Title: Championing the customers’ cause as their advocate: Reinforcing trust and bringing back their smile
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the achievements since July 1, 2020 of the nominated team, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.
Who are we? What we do?
We are a compact and specialized five-member Grievance-Redressal team, attending to General-Insurance complaints. Constituted for the redressal of the problems reported by our customers who are “Life Time Partners” for us. We strived to develop a responsible and accountable-attitude among all stakeholders upholding the dignity of Future Generali by winning the trust of our “Customers” through ‘accurate investigation’ and ‘fair representation’.
While the core-team facilitates the grievance-resolution, the service-structure engages the board to the branch. The Grievance Redressal Officer (GRO) sets to work and calls the customer after detailed-investigation and discussion with the local-owners. For any technical-issues or issues involving point-of-sale dissonance, the respective claim-expert or sales-manager is taken on conference to ensure complete-satisfaction with the resolution. Every resolution is then communicated in writing.
- Briefly describe the nominated team: its history and past performance (up to 200 words):
Total 115 words used.
We make humble headways.
With focused-efforts since early years of formation, the team established a robust grievance-redressal structure with ISO-10002:2014 certification and also received appreciation from the insurance-regulator in early 2016. Amongst the Generali-Asia group-companies we were recognized as a best-practice.
Do we keep track of the learnings identified from complaints?
Yes. We have undertaken a detailed RCA (Root Cause analysis) of every complaint to identify improvement opportunities. System-driven feedback is shared with the respective manager instantly; a detailed quarterly meeting is carried out with department-owners to draw out action plans for customer pain-point mitigation. The CEO himself undertakes to review RCA of twenty complaints per week and offers improvement suggestions to various functions.
- Outline the team's achievements since July 1 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 148 words used.
What do we do with these learnings?
Leveraging on the learnings from complaint-cases and from NPS feedback, we have been driving company-wide improvements. A total of 45 structural improvement-projects and 47 quick-wins were triggered. With complaints related to Motor Claims being the biggest challenge, a comprehensive training-program for 200+ claim-engineers was conducted for each Zone spread across the company by the Complaints Team. The Motor Claim NPS continues to improve since then.
How are potential-complaint cases attended?
Jan’2018 saw the launch of an “Escalated-Request-Management-Queue” which was aimed at resolving potential-complaint requests timely and satisfactorily. An effective strategy helped in living up to the organization’s commitment to higher customer satisfaction. We managed 4731 dissatisfied-clients in 2022 compared to 6054 in 2021 and 7472 in 2020, through the Escalated Management Queue, which otherwise would have turned out potential-complaints. The decrease in escalation requests year-on-year testifies improved service to our customers.
- Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the team's past performance (up to 250 words):
Total 106 words used.
How did we contribute in curbing unfair business practices?
Through robust complaints management process we were able to place various measures and checkpoint in place to curb mis-selling. We saw achievement in curbing unfair business practices. 29 instances of mis-selling were registered in the form of complaints in 2021. In 2018, we had released guidelines applicable to any instances related to mis-selling and unfair business practices at the point of sale. Periodic reiteration on the importance of these guidelines helped us reduce, mis-selling instances to just 5 in 2022. This ultimately helped us to enter into healthy business relationships strengthening our reputation and future business growth.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 215 words used.
What differentiates us from others?
Our relentless focus on customer-advocacy has helped us reap invaluable benefits:
- Speed being a stable determinant for customer satisfaction we have an improved resolution TAT. We have been resolving complaints in 4 days for the period 2019 to 2022. We are fairly placed compared to industry average of 15 days.
- Displaying transparency we disposed 49% of complaints in-favor of the customers compared to 29% in 2021. This has helped us indirectly towards Increased Sales, Customer Loyalty and Enhanced Brand Image.
- In General Insurance Business where customers hold 1 year policy we have been able to increase our customer base from 29,44,495 clients as on Dec 31, 2020 to 36,11,533 clients as on Dec 31, 2022 i.e. 19.4% increase in client base in the last 2 years.
- Net Promoter Score (NPS) for the company has been growing steadily. Our NPS score in 2021-2022 combined, soared to 72.2% from just 58.1% for the period 2019-2020 combined.
- In 2022, under the directive of the insurance regulator, all insurance companies had to migrate to a revamped version of IGMS 2.0 (Integrated Grievance Management System). When most of the Insurance Companies struggled migrating, the Grievance Redressal Team at Future Generali, migrated with no fuss at all.
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