AXA WAY CRM
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Transcript of AXA WAY CRM
WAY:
CRM ASSIGNMENT NO 4
PRESENTED BY:-
SHOBHA KUMARI
KAUSTAV SHARMA
SHIKHAR
HARINDAR
INTRODUCTION
AXA is a French global company headquartered in Paris.
Engaged in life health insurance and investment management.
Operates in Western Europe ,North America and Asia-Pacific and Middle-East.
This group encompasses 5 operating business segment—
Life & Savings
Property and Casualty
International Insurance
Asset Management
Other financial services
INTRODUCTION
It has 42 subsidiaries ,1600 employees and 4000 general agents.
Its turnover is around $45 million(US).
In 1994 ,AXA established AXA Asset management in Europe and later renamed it as AXA Investment Managers.
In 1988 ,merger between AXA and Compagie Du Midi
In the same year AXA got listed in Paris stock exchange
PROBLEM
2001 witnessed a global economic slowdown due to the September 11,2001 terrorist attacks in the U.S resulted in claims of over US$ 70 billion.
In the life insurance segment, insurance companies faced pressure on their investment margins and low fees on universal life insurance products.
Poor economic conditions in Japan adversely affected the consumer confidence in financial products.
Due to global recession in 2001 AXA revenues dropped by 6.25% compared to 2000.
CONTD….
AXA had to dealt with several management issues, legal issues, capital allocation, integrating people and process due its merge with different companies
AXA operated in many countries across the world and had to face statutory, regulatory and legal, accounting and tax systems that differed from country to country
BUILDING THE BRAND
CUSTOMER FOCUS-KEY MEASURES
Listen to the voice of the customers(VoC)
Improving process performance to meet customers
expectations
Continuous Improvement of the performance
Continuously listening to customers
Building a customer and performance oriented culture
Transfer to tools and methods to systematically control
and act on the performance
FACT BASED METHOD-KEY FEATURES
Data driven approach
Key measure identified and systematically tracked
Employee Ownership and Responsibility
Empowering employees to act on the performance of their processes
CRM STRATEGIES
Regular customer feedback & incorporating it into its products and services across the organization.
AXA Ireland started “Mad House” Program
“VOC” was used by AXA to introduce several new products.
AXA introduced Multihelp, comprising of five different insurance products.
Driving Help
Travel help
Home Help
Insurance according to the mileage estimate
EMPLOYEE OWNERSHIP
AXA considered its employees as its most valuable asset and believed in keeping them motivated.
AXA kept its employees informed about the strategies and objectives of the group.
AXA had been conducting scope surveys for its employee to
measure employee satisfaction
EMPLOYEE INVOLVEMENT
Ownership of the tasks they were involved in and contribution towards improvement of processes.
Awareness of their activities , the group objectives)and contribution to organization
DMAIC PRINCIPLE
D – identification of complaints
M – audit of a sample of payments
A – instance of inaccurate payments and the causes of mistake
I – correct commission rates,
C - query system
DMAIC PRINCIPLE- THE AXA WAY
BENEFIT OF THE IMPLEMENTATION OF
“AXA WAY
90 percentage of the growth revenues.
Customer satisfaction
Customer retention
Annual benefits-technical gains,
productivity gains, reduction in general expenses,
incremental revenues, cost reduction
Wide range of the product
SUGGESTION AND RECOMMENDATION FOR FURTHER IMPROVING THE SERVICE
Implementation of MBO
Implementation of EVA
Implementation of the BALANCE SCORE CARD
-customer perspective
-financial perspective
-internal business process perspective
innovation and growth perspective
Feed forward control
THANK YOU !!