Private insurer, Reliance Life Insurance company has launched Post-Sales Customer Service initiative, named ‘Reliance Life Plus Club’. With this initiative Reliance Life has become the first insurance company in India to introduce structured Post-Sales Customer Service platform.
Under this initiative company will mandate an advisor or insurance agent to go back to the customer, beyond just premium collection, with a view of maintaining a closer and long-term relationship with its policyholders. This initiative will make it mandatory for Company’s 1.5 lakh representatives including employees, agents and channel partners to visit policyholders at least once in a year.
This initiative is inspired by ‘Zutto Motto’ (Forever For Service) service at Nippon Life insurance in Japan.
Through this initiative company is targeting to meet 10 lakh customers by the end of current fiscal. During these interactions, the representatives will review the customer’s existing policies, understand the changes and developments in the customer’s life and family since their last policy, evaluate current insurance needs and requirements, offer advice on suitable new products, and its benefits.
Company is expecting to incur expenses of around Rs 12 crores in this current financial year under this initiative.
As a part of its efforts to improve customer service, company is also planning to hire about 50,000 advisors in current fiscal. Company is also planning to hire 5,500 full-time consultants by September 2012. Company has already hired about 7,000 advisors in April and May. As of 30 June 2012, company had a total of about 1.2 lakh advisors as against 1.5 lakh in year ago period.
Company is also focusing on hiring employees on fixed salary basis to lower attrition rate.
Reliance Life is 74:26 joint venture between Reliance Capital, a financial services arm of Anil Ambani led Reliance group and Japan based Nippon Life.
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