Page 5 - WOW Magazine Feb 23

Message from the

Head of Sales

Congratulations to all the Leaders featuring in this World of Winners. It’s a matter of great pride featuring in this
e-magazine and is a long-lasting testimony for your achievements and it goes a long way to the extent of your
generations drawing energy and inspirations from these achievements of your career. I take this opportunity to
appreciate both the Bank Relationships crossing 500 Crore mark and marching steadfast towards their goals and
putting the best possible efforts to reach the 200 Crore Fee Income Goal for both the bank partners. Where there
is a WILL there is a way. It’s a great blessing to see this bewildering opportunity that arose out of the new tax
guidelines on 5L+ cases, that reminds us on “Make Hay while the Sun Shines”. Am sure that each of you will do
focussed activity in encashing this opportunity. Under any adverse situation, a few will be immensely benefitted.
Can that be You & there by us?.
As you all are aware that our core strategy is to benchmark ourselves to reach the industry best Branch Activation
of 55% in a staged manner, am glad to share that BOI team is already hovering around 50%’s for last 6 months in a
row with a clear delta of 12% lift in activation over last year. Similarly, it’s good to note that UBI 1 & 2 also hovers @
40% types last few months with a clear lift of 10% over last year. We will continue this key focus area raising our bar
month after month till we reach our desired goal and then become the Benchmark for the industry in the PSU Banca
space. Secret of this success lies in a mere recruiting job of Appointing SPs in each branch @ 3 per Bank Branch.
We will continue to focus on MDRT as key lever in addition to the above drive which determines the Success of our
SOs. There are only 2 categories of FLS. One who made MDRT creation as a habit and the other one who is yet to
create that habit. FLS who creates an MDRT sticks on to that company and grows along with the company. It’s a
great SO Retention tool as well. Think about it strongly.
Credit Life team will create an historical new high and they are known for setting new benchmarks and breaking
their own records. SUD & Bank System integration will further ease this HL attachment that will propel growth to this
channel. Appreciate the entire team also contributing to retail business to the tune of 25 Crs goal this year and
aiming a bigger goal of 100 Crs in the year to come. Best wishes to the team. Cross sell will surpass 100 Crores and
create a newer high. Appreciate the collaboration demonstrated by the HO Cross sell team and the field to create
this success. Alternate channels have an huge opportunity and are contributing to the tune of 20% of industry
business in India and am sure the teams will set these benchmarks of 1/5th of the volume generated by SUD Life
year after year from Alternate Channels. Agency & Digital contributes the rest of 25% of industry business and
both our teams have spent good quality time in building the right teams and managed a decent production this
year and both these teams can create an exponential YOY growth in FY’24 and the subsequent years. Industry is
keenly watching us on all our new efforts.
On the Quality side of business and digital adoption, quite a lot of initiatives are getting triggered a expect each of
you to embrace these new methods (viz. Video KYC, Digital Risk Profiling and instant Need analysis tools ) which
will bring us a new identity in the market that builds Persistency and brings down Grievances, FLCs & Surrenders
and the Positivity spreads faster, which will help us to increase our bank Customer penetration base from < 1 % to
2%~ 3% at least in the year to come. Bank Customers are GOLD, and you only must learn “how to mine”. Last but
not the least, our coming years NB retail figures are looking like 2000 Crs, 3000 Crs, 4000 Crs, and growing up to
5000 Crs per year in the 5 years frame, with the Alternate channels, Agency, and Digital firing fully besides our
confidence and efforts to onboard new partners. We will continue to be the torch bearers of our Value systems
and treat all employees, distributors, and customers fairly and accomplishing these greater milestones with a
smile in our face is predominantly important.
The Best is yet to come….BELIEIF is the starting point of Success!.
Warm Regards,
Ganesh R

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