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Product cover image for Concentrix Corporation: Improving Customer Persistency for an Indian Insurance Company

Concentrix Corporation: Improving Customer Persistency for an Indian Insurance Company

Shylu John, Bhavin J. Shah

Product #:W25821
Supplier:Ivey
Discipline:Information Systems, Operations Management
Setting:India, 2018
Details:Case (PDF) • 7 pages • 2022-09-06

Subjects:

Technology and analyticsBusiness managementInformation systemsOperations and supply chain management

Industries:

Financial service sector

Geography:

AsiaIndia
Your Price:$10.54

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In August 2017, Concentrix Corporation (CNX) partnered with Photon Life Insurance Company (PLI), a leading insurance provider in India, to support PLI's customer management service. On February 1, 2018, Mohit Khanna, global operations manager at CNX, undertook a promising task to improve PLI’S customer persistency at minimal operational cost. If all policyholders with an approaching due date were to be called, then the number of service agents required would be very high, leading to significant operational cost increases. Khanna’s challenge was to design a contact prioritization strategy that could be implemented at minimal cost and improve persistency.

Learning Objectives

This case can be used for beginner level business analytics courses that are part of graduate- or executive-level operations management or information management programs, covering topics such as predictive analytics, decision science, and statistical modelling. The case supports classroom discussions on the use of various predictive modelling approaches to design an operational improvement strategy for a customer management services operation applicable to both new and existing business organizations. In this case study, students will also learn to build logistic regression models for solving the business problem.

After working through the case and assignment questions, students will be able to do the following:
  • Understand customer persistency in the insurance industry and its management by contact centre operations.
  • Understand predictive modelling approaches and the selection of best fit model.
  • Use of a predictive analytics solution in a contact centre strategy to solve the business problem.
  • Formulate a cost-effective contact centre strategy to improve customer persistency.
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Case Study: Concentrix Corporation: Improving Customer Persistency for an Indian Insurance Company (English version) | Ivey Publishing