Qlik Case Studies HDFC Life Reduces Customer Response Times by 50 Percent with QlikView

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	HDFC Life Reduces Customer Response Times by 50 Percent with QlikView Qlik

HDFC Life Reduces Customer Response Times by 50 Percent with QlikView

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Technology Category	Analytics & Modeling - Real Time Analytics
Applicable Functions	Sales & Marketing
Services	Data Science Services
Challenge	HDFC Life, a leading private life insurance company in India, was facing several challenges. The company was struggling with the proliferation of data and its existence in silos, which was impacting the senior management’s capability to make informed decisions. Every department had their own method of generating and storing information which lead to proliferation of silos and inadvertently raised the cost and time to accessing accurate information. The company also wanted to reduce response times to customers and improve satisfaction, provide a strategic decision-making model to senior management, and accelerate business growth and improve market standing. Read More
About Customer	HDFC Life is one of India's leading private life insurance companies. It offers a range of individual and group insurance solutions with about 500 branches in India touching customers in over 900 cities and towns. The company is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution, and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health. The company currently has 25 retail and 9 group products in its portfolio. Read More
Solution	HDFC Life deployed QlikView business discovery software to strategic decision makers in key business functions in under four weeks. The solution is also available on mobile devices to these users. The organization intends to roll the solution out to operational decision makers as well in the near future. The team reviewed several potential business intelligence solution providers and narrowed their options down to three solution providers including QlikTech. However, following an extensive review cycle including a proof of concept (working with QlikTech Partner, Team Computers), HDFC Life decided to work with QlikTech, as QlikView 11, the chosen BI solution, scored 100% during the POC in terms of speed and reduced margin of error, whereas the others contenders scored considerably lower. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Real Time Analytics

Applicable Functions

Sales & Marketing

Services

Data Science Services

Challenge

HDFC Life, a leading private life insurance company in India, was facing several challenges. The company was struggling with the proliferation of data and its existence in silos, which was impacting the senior management’s capability to make informed decisions. Every department had their own method of generating and storing information which lead to proliferation of silos and inadvertently raised the cost and time to accessing accurate information. The company also wanted to reduce response times to customers and improve satisfaction, provide a strategic decision-making model to senior management, and accelerate business growth and improve market standing.

About Customer

HDFC Life is one of India's leading private life insurance companies. It offers a range of individual and group insurance solutions with about 500 branches in India touching customers in over 900 cities and towns. The company is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution, and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC Life's product portfolio comprises solutions, which meet various customer needs such as Protection, Pension, Savings, Investment and Health. The company currently has 25 retail and 9 group products in its portfolio.

Solution

HDFC Life deployed QlikView business discovery software to strategic decision makers in key business functions in under four weeks. The solution is also available on mobile devices to these users. The organization intends to roll the solution out to operational decision makers as well in the near future. The team reviewed several potential business intelligence solution providers and narrowed their options down to three solution providers including QlikTech. However, following an extensive review cycle including a proof of concept (working with QlikTech Partner, Team Computers), HDFC Life decided to work with QlikTech, as QlikView 11, the chosen BI solution, scored 100% during the POC in terms of speed and reduced margin of error, whereas the others contenders scored considerably lower.

Impact #1	By centralizing value information generation and flow, HDFC Life managed to redeploy talent and employees to more appropriate roles.
Impact #2	Senior management now has clearer visibility into costs and revenue streams.
Impact #3	With the availability of end-to-end information through QlikView, HDFC Life managed to establish strategic performance measures to drive lean cell management.

Impact #1

By centralizing value information generation and flow, HDFC Life managed to redeploy talent and employees to more appropriate roles.

Impact #2

Senior management now has clearer visibility into costs and revenue streams.

Impact #3

With the availability of end-to-end information through QlikView, HDFC Life managed to establish strategic performance measures to drive lean cell management.

Benefit #1	Increased customer response times by 50 percent
Benefit #2	Accelerated business growth by 17 percent in two years
Benefit #3	Achieved overall cost savings of US$400,000 in two years

Benefit #1

Increased customer response times by 50 percent

Benefit #2

Accelerated business growth by 17 percent in two years

Benefit #3

Achieved overall cost savings of US$400,000 in two years

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Overview

HDFC Life Reduces Customer Response Times by 50 Percent with QlikView

Operational Impact

Quantitative Benefit