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Insurance sales performance dashboards for VP of Sales, sales management and front-line sales staff.
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PMSquare Provides Consulting Services & solutions with detailed practical experience across all industries
Consulting Services
• Customer Analytics & Reporting: Helping businesses stay focused on their customers with innovative and effective approaches to marketing, sales and customer service.
• Finance & Performance Management: Exploring
the relationship between finance mastery and achieving high performance, and delivers experience and assets that can help businesses and governments master their finances with comprehensive approaches backed by proven assets.
• Talent & Organization Performance: Guiding companies toward strategic ways of elevating an organization’s performance with services in change management, human capital and organization effectiveness,
• Operations & Supply Chain Performance: Improving visibility of operational performance, turning insights into action that drive performance.
Telco &
High Tech
Financial Services
Healthcare
Consumer Products
Automotive
Financial Performance Management - Budgeting, Forecasting & Planning
- Risk Management
Business Intelligence - Analytics, Reporting, Scorecards & Dashboards
- ETL & Data-warehousing - Predictive Analytics
Productivity Improvement Solutions
- Improve administration & mainteance
Focus Areas:
Performance Management Solutions
Financial Analytics § Ledger § Payables
§ Receivables § Cash Management
§ Customer/Vendor Risk
Workforce Analytics § Talent Development § Talent Management § Talent Retention
§ Workforce Strength § Compensation
Procurement Analytics § Spend Analysis § Vendor Analysis
§ Contract Management § Operational Efficiency
Sales Analytics § Pipeline Performance
§ Sales force Performance § Sales Segmentation § Customer Relations
§ Pricing and Program Analytics
3
Business Analytics for any organisation:
Open, Enterprise Platform Common Decision-Making Model
Seamless Business Intelligence
Source System
Packaged Reporting & Analysis Analytics Drill Through
Marketing Analytics § Customer Segmentation
§ Product & Pricing Analysis § Promotions Analysis
§ Brand Analytics
Risk Analytics § Operational § Strategic
§ Enterprise Risk § Scorecards
§ GRC
4
What is the Insurance Sales Performance Dashboard Solution?
The IBM Insurance Sales Performance Dashboard solution provides a prebuilt framework for Analysis and Monitoring of KPIs
What does the solution do?
§ Health of the whole organization can be viewed by CXO at one go
§ Balance Scorecard approach provides uniform focus to different functional areas
§ Role based KPIs according to hierarchy and functional areas
§ Provide alerts on thresholds
§ Role based access control § Ability to handle ad-hoc queries to
generate customized reports in addition to standard reports
Data & Content, Federation, Advanced Analysis
Finance Customer Services
Information Technology Claims Others
Sales and Marketing
A single integrated enterprise-wide view of Cross-LOB metrics catering to the requirements of multiple levels of Management.
MODELS, TECHNOLOGY, BEST PRACTICES
The Insurance Sales Performance Dashboard solution provides an Insurance company Chief Marketing Offices , Chief Sales Officers, Senior Sales Executives and Sales Managers a pre built role based reporting framework for visually presenting and reporting the Key Performance Indicators across the Sales & Marketing area to enable them to track the sales, revenue, productivity and performance.
Insurance Sales Performance Dashboard
INSURANCE SALES PERFORMANCE
Performance Management Functionality
Ø Reporting ü Provides full breadth of report types ü Delivers consistent information across all types of report output ü Can be personalized and targeted
Ø Analysis ü Provides guided exploration across multiple dimensions of information ü Provides capabilities to do further analysis ü Gets to the “why” behind trends to reveal symptoms and causes ü Moves from summary level to detail levels of information effortlessly
Ø Dashboards ü Provides at-a-glance, high impact views of complex information ü Helps quick focus on issues that need attention and action ü Are highly visual and intuitive with an option of tabular view ü Combines information across disparate sources ü Multiple views of KPI for analysis
Ø Scorecards ü Provides instant measurement relative to targets and benchmarks ü Aligns decisions and tactics with strategic initiatives ü Ensures ownership and accountability
Insurance Sales Performance Dashboard : Solution Overview
§ Provides Sales Officers the power of informed decision making
§ Robust underlying model (IIW) helps in adding new KPIs with minimal effort
§ Complete control over sales and revenue with balanced scorecards, alerts and analysis views
§ Built-in sales force performance and productivity analysis
§ Impact analysis and follow up actions
Business Benefits
Prebuilt Solution Components
§ 66 Key Performance Indicators and 150 Standard Reports spreading across Sales & Marketing
§ IIW based Datamart
§ Cognos Metadata Model (FM Package)
§ Role based Dashboards
§ Balanced Scorecards
§ Rules based alerts
§ Ad-hoc queries to generate customized reports in addition to standard reports
Policy Source Systems
Data Mart Content Store Metric Store
Cognos Managed Repositories
Star schema IIW data mart
First level Meta data model
All meta data except metric related
Metric related meta data
Framework Manager Package
SOAP API (WSDL)
COG
NO
S SECURITY
COG
NO
S COM
MU
NICATIO
N
Second level Meta data model
COGNOS
DB2
Analysis
Composite Chart List Analysis Dashboard
Reports published in web
Metric Project
Application firewall, Authentication, Authorization,
Cryptographic Services
ODS
DATA
WEB
APPLICATION
Operations Data Store
Financials Claims Others
Technology
Data Mart
Summary
Fast Decision Making
More confidence about the decisions
Less probability
of error
Roles and Hierarchy
VP Sales
Sales Manager Sales Manager
Sales Supervisor Sales Supervisor
Agent Agent
VP Sales Dashboard
Role Based Dashboard
Authentication and Role based dashboard
VP Sales Dashboard
Analysis Cubes for slicing and dicing data, do what-if analysis and a lot more ad-hoc analysis
Key Performance indicators shown with status, Targets, Actual, Variance, Rate of change over previous month
Link to reports
Alerts – with option to analyze and identify root causes
Key sales figures with the capability to analyze the details
VP Sales Dashboard
Hover the mouse on the KPI to see the trend for the last 12 Months
VP Sales Dashboard – Detail
Option to view the detail information
VP Sales Dashboard – Sales detail
VP Sales – Reports View
Reports grouped under sections
Compensation – Commission Analysis
One can drill down to see the break up of commission under Life insurance
Compensation - Commission Analysis – Drill down by Product
One can further drill down and analyze the commission break up under Term Life
Compensation-Commission Analysis–Drill down by Product
Compensation-Commission %
Compensation-Distribution of Agents
Policy-New Business Case Count
Policy – In-Force Policy Count
Policy - Persistency
Productivity - Average Policy Size
Productivity - Quadrant Analysis
Productivity – Based on Case Count
Productivity – Based on Commission
Productivity – New Customers Acquired
Productivity – Percentage of Non Performing Agents
Productivity – Total Sum Insured
Sales Force – Agency Manpower
Sales Force – Activity Ratio
Sales Force – Agent Appointments
Sales Force – Net Terminations
Sales Force – Average Number of Newly Appointed Agents
Sales Revenue – New Business Premium
Sales Revenue – Total Premium
Sales Revenue – Growth in Premium Revenue
Sales Revenue – In-Force Premium
Sales Revenue – Premium Revenue by Organization
Sales Revenue – Revenue Ratio from New Customers
Analysis – Man Power
Analysis - Performance
Analysis – Sales Production
Sales Force Hierarchy
VP Sales
Sales Manager Sales Manager
Sales Supervisor Sales Supervisor
Agent Agent
Sales Supervisor Dashboard
Sales Supervisor Dashboard
Score Card
Comparison against Organizational averages
Link to Reports
Sales Supervisor Reports – New Business Case Count
Sales Supervisor Reports – In-Force Policies
Sales Supervisor Reports - New Business Premium Analysis
Sales Supervisor Reports – Premium Revenue
Sales Supervisor Reports – Policy Persistency
Sales Supervisor Reports – Sales Production
Sales Supervisor Reports – Distribution of Commission