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HDFC Standard Life Insurance
Sales incentives - Finance
Background
HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. They wanted to increase the sales by motivating the financial consultants and build loyalty in relationships with them
Objectives
- Motivate the financial consultants with performance based rewards
- Increase the sales of insurance policies
Action plan
- Rewards Program for the financial consultants
- Program website
- Online rewards catalog with more than 250 reward items
- Redemption management
- Logistics
Results
- Created great customer experiences through redemption turn around time and exciting online rewards catalog
- Helped HDFC SL in building long lasting relationships with their financial consultants
- Overall sales jumped with happy financial consultants
Targets
- Financial consultants
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