optimized agent performance and reporting through entomo’s PX platform
Insurancethe client
The client is a global Fortune 500 insurance company, with a strong presence in life and property insurance. With operations spread across various locations, the company manages over 10,000 agents responsible for driving revenue and maintaining customer relationships. They sought to enhance productivity and streamline performance management across their workforce. Its branch network exceeds over 40 locations with dedicated agency and distribution channels across the country.
at a glance
the challenge
Struggled to engage and increase productivity across sales teams.
Manual and error-prone reporting system for sales performance.
Disparate reports led to trust issues and inefficiency in performance tracking.
Time-consuming communication with agents across different branches.
Business and Agency teams were receiving sales data on excel reports on a weekly or monthly schedule; the daily manual alignment process required IT and Business teams to sit down and validate the reports each day.
The Agency team had difficulty identifying and tracking active agents, which prevented targeted communications and insights; executives needed a single view of performance parameters and a single source of truth for the Corporate & Agency teams.
The Malaysian Central Bank mandated that all life insurance agents have their own balanced scorecard, forcing the company to create a performance scorecard solution as well.
what entomo did
Automated reporting with real-time performance tracking for agents and managers.
Single source of truth for performance metrics across the organization.
Gamified sales performance to motivate and re-engage agents.
Through consulting workshops, identified designation-wise key performance metrics for Balanced Scorecard and Contests; as of July 2019, all seven mandated metrics were rolled out as part of the balanced scorecard initiative.
Automated the process of daily reports and eliminated multiple levels of validation that was previously required.
Through entomo’s proprietary database-agnostic data mart tool, data was seamlessly integrated from all existing operational systems and linked into each agent’s performance scorecard.
Every agent has a personal dashboard for personal performance metrics and commission earned; every manager has a group dashboard for team performance metrics and manpower data; key management gets high-level data on team performance across branches; agents receive frequent communication through push notifications; automated contest reports for group leaders and managers.
the results
- 32.8% increase in annual insurance premiums over three years.
- 88% reduction in time spent generating performance reports.
- ROI of 255% and payback within six months.
- Improved decision-making and reduced agent turnover rates.
- In one stroke, entomo allowed the client to be Central Bank compliant and substantially increased their Revenue Per Policy compared to the same period last year.
- 15% increase in the number of active agents and revenue, through automation of strategy and KPIs.
- entomo gives its 10,000 agents constant push content with actionable insights that are contextualized and time relevant; gamification and push notifications combined with daily sales data have vastly improved agent reporting.
- Forrester Total Economic Impact study: 255% ROI in 3 years, $1.9 M benefits PV, $1.4 M NPV, <6 months payback.
Our investment in entomo has increased engagement, productivity, and absolutely increased our revenue.
GMGeneral ManagerWe've find the entomo team to be very proactive in their efforts to understand our business needs. They even meet with our employees to better understand their issues. entomo has been a very good partner.
FTForrester TEI study interviewee, Fortune 500 global financial service providerOur biggest impact has been that a sales manager can now see team performance at a glance, for all the key KPIs and act on it. They don't have to wait for a weekly report. They get updates every day.
FTForrester TEI study interviewee, Fortune 500 global financial service providerrelated case studies
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