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SBI Life Insurance Life Pleasures
Sales incentives - Finance
Background
SBI Life Insurance Company Limited is a joint venture between the State Bank of India and BNP Paribas Assurance which comprises of the most productive force of more than 63,000 Insurance Advisors, offers door to door insurance solutions to customers. They wanted to implement a performance based incentive program for their SBI Life Bancassurance channel
Objectives
- Performance based rewards across the hierarchical levels
- Ensure higher acceptance of SBI life products
- Ensure the higher recall about the brand
- Recognise top performers and reward them
Action plan
Rewards Program
- A comprehensive online reward management solution
- Consistent offline and online communications
- Inventory management & warehousing facilities
- Logistics
Results
- More than 40000 participants enrolled
- Created great customer experiences through redemption turn around time and exciting online rewards catalog
Targets
- Rewards Program targeted to SBI Life Bancassurance channel
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