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HDFC Life Reduces Customer Response Times by 50 Percent with QlikView
Technology Category
- Analytics & Modeling - Real Time Analytics
Applicable Functions
- Sales & Marketing
Services
- Data Science Services
The 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 The 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.
The 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.
Operational Impact
Quantitative Benefit
