Increasing Productivity of dispersed agent network through the LMS

Client:

Tata AIA , a joint venture between Tata Sons Pvt Ltd and AIA Group Ltd, is one of the leading insures in the country, and offers plans in multiple life insurance segments such as protection plans, wealth plans, child plans, saving plans, group plans, and micro-insurance plans ,among others.

Category:

LMS Case Study

Industry:

Financial Services

PROBLEM STATEMENT

As one of the largest insurance providers in India, Tata AIA has a huge network of agents spread across the length and breadth of the country. With policies and insurance plans in various domains like term insurance, individual plans, corporate plans, savings, retirement, etc, this insurance giant has more than 200 complex products in the market. This network of agents must be trained continuously on these complex products and need compliance training with certification. The business requires it to have well-groomed and certified, market-ready agents across branches and regions to sell these products.

When they approached Tenneo (formerly G-Cube LMS) to find a digital learning solution, they had specific need

An agile & robust learning platform to enhance the competence of sales staff at the dealerships.
A learning solution which can be scalable, cloud-based, and gamification friendly to engage the learners.
Easy access to various formats of learning contents and a tracking mechanism for training delivery and outcome.
Ability to provide elearning and blended learning that makes workforce knowledge ready quickly with new products and features.

The Challenge

The Insurance sector in India grew from USD 39.7 Bn in FY 12, to USD 94.7 Bn in FY20. While the potential growth for sales is staggering, insurance as an industry and India as a market comes with their own set of challenges. We analyzed the requirements of the client and the industry to identify these challenges and find pertinent solution .

A HIGHLY REGULATED SECTOR
LARGE NUMBER OF COMPLICATED PRODUCTS
SCATTERED FREELANCE WORKFORCE
HIGH LEVELS OF ATTRITION
TIME TO PROFICIENCY

G-CUBE'S SUGGESTION

Build an automated system that shall keep a track of the required number of certified agents on field.
Manage training, including certification and recertification, according to the requirement to maintain a consistent supply of duly authorized professionals.
Mitigate knowledge loss risks caused by the high attrition rates existing in the industry with regular virtual meetings and 'hypercare'.
Reduce time to productivity despite the distance and varying level of knowledge and understanding of the employees with refresher content.

HOW WAS THE SYSTEM IMPLEMENTED?

In the highly regulated environment of the insurance sector rife with attrition, with the plethora of products, we needed to find an effective solution to get the agents certified, market ready without losing time on redundant training processes. This required a system for cataloguing knowledge depth and levels, within the sales force. The effective solution implemented for Tata AIA was the development of the Automated Dynamic Learning Path of every individual salesperson on their Learning Management System, VAcademy developed by Tenneo (formerly G-Cube LMS).

PRE-ONBOARDING ENGAGEMENT TO REDUCE TTP (TIME TO PRODUCTIVITY)
HANDLING THE HIGH ATTRITION PROBLEM
MANAGING COMPLIANCE AND REGULATORY TRAINING
ADDRESSING PRODUCT TRAINING & UPDATE TRAINING

IMPACT ON THE CLIENT'S BUSINESS/ TRAINING

With the implementation of V-Academy, Tata AIA gained a huge momentum as it provided a definitive solution for standardizing their methods of onboarding, training, and monitoring. To finally examine the impact that V-Academy had on Tata AIA's business, we can note down the following accomplishments.

Seamless journey for virtual classroom sessions and blended learning, reducing administrator time for batch management, notifications, attendance capturing, waitlist management etc
The learning of users from 506 regions is being managed on the LMS.
981647 learning has been assigned on the system.
On average 22000 users are active on the system every month.
The system has had l 139737 login still September 21.
Intuitive interface for accessing individual learning journeys and active wall for social learning resulting in higher training uptake.
Enhanced capability for training data analysis and different hierarchy levels reducing considerable admin effort.
Individual learning path increasing productivity rapidly.