IRDA has created a common pool for Terrorism insurance.
Gen Insurance Cos route the premium to the common pool & settle claims.
Any Public &/or 3rd party liability insurance cover should contain terrorism as a n add on benefit in their policies.
Insurance Company must assess a property's valu its structure & all its contents.
On or many Gen. Insurance Cos. togetrher can propose to cover property against terror.
Insurance agreeement should clearly specify & list all types of terrorism acts in Policy documents.
Individuals are covered for terror-relatd accidnts with PA Cover.
Specific terror covers are being launchd as group schmes with limitd benefits & cheaper costs.Corpus initially of 200 Cr is now 1,200 Crores.If a catastrophe strikes, 1200 cr. is not adquat.
Premium rates for 3rd party insurance have hardened by 30%. for all 3rd party policies.
Terror cover is not included in PA cOVER BUT NOT EXCLUDED EITHR.mODIFICATIONS ARE NOT ALLOWED MID-WAY.
funding terror :
small funds neded to push ideology of terror.
yaer & place people killed estimated cost
2002 , bali, indonesia 202 $ 30,000
2003,jakarta 12 $ 30,000
9/11 attacs in usa 2,819 $ 250,000-300,000
SOURCES OF TERROR FUNDING :
FOREIGN GOVTSCHARITABLE ORG
FIN. MARKETS
LEGITIMATE BUSINESS VFRONTS
AVRIOUS FORMS OF INTL TRADE
CRIMINAL ACTIVITIES SUCH AS EXTORTION, PROSTITUTION RINGS, VIDEO PIRACY , DRUG TRAFFICKING
INDIAN SAFEGUARDSPREVENTION OF MONEY LAUNDERING ACT PMLA , 2002
FIN. INTELLIGENC UNIT ST UP IN NOV. 2004
RBI , SEBI , IRDA HAVE ANTI-MONEY LAUNDERING ACTS & KNOW YOUR CUSTOMR GUIDELINS.
BANKS , FIS HAV TO REPORT CASH-TRANSACTIONS INVOLVING MORE THAN RS. 10 LAKHS,FORGED OR COUNTERFIT CURRENCIES & OTHR SUSPICIOUS TRANSACTIONS
CHINKS IN THE ARMOUR
TOO MANY TRANS. BEING ROUTED THRO' FIU
BANKS & FIS MAY B LAX SOMETIMES IN FOLLOWING GUIDELINES.
HOW OTHER ECONOMIS FOUGHT TERROR
9/11 DEVASTATION
30% LOWER MANHATTAN PLACE LOST
2,0,000 JOBS GONE
$16 bIL ASSETS RUINED
5% ANNUAL gdp OF usa LOST
INS. INDUSTRY LOST $30 BIL
CLKAIMS OF 40 BIL
AIR-SERVICES CUT-BACK 20%
100,000 LAYOFS
US AIRWAYS FILED FOR BANKRUPTSY
HOTELS VACANCY SURGED
GROS CITY PRODUCT OF NEW YORK SHRUNK $ 27.3 BIL
TAX LOSES $ 3 BIL
Sunday, December 28, 2008
Wednesday, December 24, 2008
NATWARLAL
RAJKUMAR BASANTANI , 53
FIORMER SBI EMPLOYE 1000 CR.
HIGH RETURNS TO FDS
SOUND CRAFT IND. KOLAR BIOETCHBASANTANI DEFAULTED ON PAYMENTS IN 2004
SEBI PENALTY OF 15 CR.OFFICE WAS SALED WHEN SEBI OFFICIALS VISITED
EMERGENCY CERTIFICATE & RED CORNER NOTICE WAS ISSUED AGAINST HIMTHERE WERE NO ASSETS
FIORMER SBI EMPLOYE 1000 CR.
HIGH RETURNS TO FDS
SOUND CRAFT IND. KOLAR BIOETCHBASANTANI DEFAULTED ON PAYMENTS IN 2004
SEBI PENALTY OF 15 CR.OFFICE WAS SALED WHEN SEBI OFFICIALS VISITED
EMERGENCY CERTIFICATE & RED CORNER NOTICE WAS ISSUED AGAINST HIMTHERE WERE NO ASSETS
MINDTREE INITIATIVE
http://specials.rediff.com/money/2008/dec/24slide9-how-leaders-bloom-at-mindtree.htm
In the first session, Bagchi listens while the participant talks. Sometimes, even they are surprised by their own answers. In the second session, Bagchi gives his perspective on the participant's reflections and "works towards building a shared understanding of who the participant is".
The third session deals with, "Where do we go from here?" Together, the Gardener and the Plant may decide that the latter needs more EQ, or more analytical skills, or a special project (sometimes, it is just a field visit) to enhance his self-awareness.
The fourth and final session becomes a platform for other engagements. "These four sessions, and the subsequent engagements, help me build a leadership of one," says Bagchi.
But they are alsIn future, Bagchi hopes to create many roles that would have nothing to do with seniority, title, power, or entitlement, but focus on long-standing issues and make an impact without depending on structural sanctions.
MindTree has committed to support this endeavor for five years. However, there will be a "stock-taking" in February next year.
Apart from leadership, the other key thing for an organisation is size. This requires what Bagchi terms "active deconstruction". How do you make an organisation all the while effectively smaller, even as it becomes larger?
shy of structure and management. As Gardener, I would give time to these communities of practice in a 'pull-push' manner. I would work with them on the ground to question their purpose, their vision, sit with them, listen-in to their deliberations and sometimes take them outside MindTree and sometimes bring the outside world to them," explains Bagchi.
The idea of working with the communities of practice, which, again, are voluntary, is to "deconstruct the largeness of the enterprise".
In the organisation of tomorrow, structure and non-structure will co-exist. Hierarchy will not go away; it will learn to work with the hetroarchy. That is why Procter & Gamble is engaging with FaceBook and creating Capessa.
"We have to extend the same rule of engagement to the internal customer. We have to redo the linkage, reinvent ways to collaborate with, expand and impact that individual very differently than during the end of factory-economy that stayed content with the term 'white collar'. The knowledge economy may indeed have as many people without collars as with - forget the colour though. That is how we can engage with people who visit you at Second Life (the website where you can live a virtual life) even before they send you their r鳵m頩n real life," Bagchi explains
therefore meets the 45 Community Champions every quarter for half a day. "I represent a non-structural role, hence I'm welcome," he explains. The MindTree management provides the physical infrastructure, digital content management system to feed data, collaboration tools, "and then gets out of the way".
Bagchi gives two days to individual communities "for what they want me to do for them". He visits campuses so that they begin to think differently. "As you can see, these are input measures. In roles like these, input measurements are more critical in the first 12 months. In addition, I want to see substantial content creation with an internal blog".
It is important for an organisation to have distributed leadership so that some can focus on the structure and some on the non-structure. Some can focus on the hierarchy by belonging to it, and some on the hetroarchy by working with the invisible folks in the organisation. The distributed leadership must be emotionally secure - its members must have a higher sense of purpose that they are not creating fiefdom; they are creating a living organisation that is larger than the sum of its parts.
In the first session, Bagchi listens while the participant talks. Sometimes, even they are surprised by their own answers. In the second session, Bagchi gives his perspective on the participant's reflections and "works towards building a shared understanding of who the participant is".
The third session deals with, "Where do we go from here?" Together, the Gardener and the Plant may decide that the latter needs more EQ, or more analytical skills, or a special project (sometimes, it is just a field visit) to enhance his self-awareness.
The fourth and final session becomes a platform for other engagements. "These four sessions, and the subsequent engagements, help me build a leadership of one," says Bagchi.
But they are alsIn future, Bagchi hopes to create many roles that would have nothing to do with seniority, title, power, or entitlement, but focus on long-standing issues and make an impact without depending on structural sanctions.
MindTree has committed to support this endeavor for five years. However, there will be a "stock-taking" in February next year.
Apart from leadership, the other key thing for an organisation is size. This requires what Bagchi terms "active deconstruction". How do you make an organisation all the while effectively smaller, even as it becomes larger?
shy of structure and management. As Gardener, I would give time to these communities of practice in a 'pull-push' manner. I would work with them on the ground to question their purpose, their vision, sit with them, listen-in to their deliberations and sometimes take them outside MindTree and sometimes bring the outside world to them," explains Bagchi.
The idea of working with the communities of practice, which, again, are voluntary, is to "deconstruct the largeness of the enterprise".
In the organisation of tomorrow, structure and non-structure will co-exist. Hierarchy will not go away; it will learn to work with the hetroarchy. That is why Procter & Gamble is engaging with FaceBook and creating Capessa.
"We have to extend the same rule of engagement to the internal customer. We have to redo the linkage, reinvent ways to collaborate with, expand and impact that individual very differently than during the end of factory-economy that stayed content with the term 'white collar'. The knowledge economy may indeed have as many people without collars as with - forget the colour though. That is how we can engage with people who visit you at Second Life (the website where you can live a virtual life) even before they send you their r鳵m頩n real life," Bagchi explains
therefore meets the 45 Community Champions every quarter for half a day. "I represent a non-structural role, hence I'm welcome," he explains. The MindTree management provides the physical infrastructure, digital content management system to feed data, collaboration tools, "and then gets out of the way".
Bagchi gives two days to individual communities "for what they want me to do for them". He visits campuses so that they begin to think differently. "As you can see, these are input measures. In roles like these, input measurements are more critical in the first 12 months. In addition, I want to see substantial content creation with an internal blog".
It is important for an organisation to have distributed leadership so that some can focus on the structure and some on the non-structure. Some can focus on the hierarchy by belonging to it, and some on the hetroarchy by working with the invisible folks in the organisation. The distributed leadership must be emotionally secure - its members must have a higher sense of purpose that they are not creating fiefdom; they are creating a living organisation that is larger than the sum of its parts.
Tuesday, December 23, 2008
CRM
1)Retaining Customers is more challenging than acquiring in the context of growing competitive forces.
Traditional transactional approach became insufficient.
Retention Marketing became important.
Intro:
Established customrs tend to buy more , are predictable & usually cost less to service than new customers.
They are less price-sensitive & may provide word-of-mouth referrals
Retaining customers also make it difficult for competitors to enter market or increase share.
Objective of CRM is to turn new customers into regularly purchasing Clients, & then move them thro' to being strong supporters of th Company & products., to being finally being vocal & active Advocates of the Company.
2)Customer service in Insurance Industry
Providing consistent, comprehensive,quality Customer service in an ongoing challnge for most organizations.
Customer intimacy represnts 1 of the top 3 priorities for Insurance Industry.
Primary objective of Customer Intimacy is to maintain a strong connection to the customer & producer thro' the delivery of products & services that create a satisfying service experience.
Cust. Service is the buzzword of Corp. world & a firm will be beter known by th quality of its service it provides rather than its market or profit-earning capacity.
While providing good & efficint service is prerequisite for any entity,it poses several problems as far as service organizations are concerned.On account of the invisible & intangible PRODUCER,it makes assessment of the service provided , that much more complicated & difficult.
Retention of Customer:
Retention Ratio
Is this ratio only to satisfy Ego or are we objectively looking at it?
Healthy Competition :
Universally , there is resistence to change.
We have to come to terms to Competitive scenario.
CRM in Ins. Industry:
CRM is about continuously improving the quality of interaction & communication with both new & existing Customers.The staid bundling philosophy,often justified on low awarenss level , has given way to a more robust & wide array of products. Insurers
traditionally concentratd on product-creation, with Distribution & Sales considered a different Business Focus, Therefore CRM was not a ky Concern.
With the evlolution of Technology , customrs are now demanding multipl Channels thro' which they can interact with providers incl. face-to-face contacts, phone, web-sites, e-mail, mobile devices
This has forced Insurers to to explore new Dist. Channels, so that Ordinary Customr has more info about products.
Challenge to Insurrs is to grow & sustain business by rapidly improving Operational Efficiencies & providing tailor-made products for divers group of customers
CRM Strategy:
A Typical Company has a huge Customer Base , varied Product lines,Multipl Dist Channls & a Market Spread across Geographis. For CRM-Utiliz Technology to th Full.
Insurer has to leverage avast pool of data at each step in CRM Process & us the insight gained for developing new products & srvices to meet the vr-changing neds of Customers.
CRM has 3 Steps: 1)Identifying Customers includes, to increas & & Retain profitability of a customer.
To arrive at overall profitability of Customer, Insurrs must qualifyTeh costs involvd in serving the Customer overa period & the revnues realized from a Customer during the period.
In Life Insuranc, ther is also a 3rd part. Good experience adds customers but negative can prove very bad
Health , Dental & Disability products may involv frequent interaction on Claim Payments , Med. Check-ups.
Group products may involv frequent interactions with Plan administrators to manage enrollments & Biling.
ROAD AHEAD:
U/W Dept has to check proposal in respect of the Risk associatedAt some places U/W is done at Corp. Office.
If the targets are vry high , there can be servicing problems.FAults at product development may lead to dissatisfaction
In Gen Insurance:
Mkt Share is generally poor.But Potential Mkt opportunities are more wide.Free Markets & Globalization have increased opportunities.They have to reenginer its approach & Strategies on quality basis.
Quality based strategy called as 'Service Stigma' for process improvement is esential."Service is any act or Performance that one party can offer to another that is esntially intangible.Gen Insurance servic is under category of hybrid variety of service offering which consists ofdifferent types of products & services tied within the products.
Gen Insuranc service is complicated since its needs ar in different phases. Servics are intangibl , inseparable , variable & perishable.
All servic sectors must follow 3 imp. steps for their quality control aspct:
* Recruit right service employees & Train them.
*Standardize serviuce performanc
*Monitor Customer satisfaction by means of suggstion schemes,accepting & reviewing the complaints, customer survey comparison etc
Service Org. Gen Insurance Business must concentrate on 3 imp. tasks.
1.Manage service quality in order to meet or exceed cust. expactations
2.It must differentiate its offer & delivery system.
3.It must manage workers productivity by getting its workers to work more skillfully.
Gen Insurance Cos can improve their Mkt share & profit only by Cust satisfaction & retention. by quality service.
Ins. Cos are at different levels of maturity when it comes to cust service.
They must consider impact of poor cust. service & its cost to Co's reputation.
Ins needsa structure that is flexible enough to support cust service that is personalized or automated & provided in the manner dictated by customer whether aimed at Cust satisfaction , retention or Sales.
To help further realization of "1st Call Final" & deliver personalized service via phone, e-mail, online.Ins. Cos must have info ready for all its reps.
Levels of awareness have to be increased.Ther is strong need , concepts & nuances of Insurance., any amt of Ads would not be much use.
If Ins is a strong Risk Mgt tool, it is because understanding the people possess. Then CRM would be demed to have ben achieved. when awareness is taken to further heights.
To create a satisfying experience for both new & existing customers,Ins Comps should adopt a model that focusses on Customers than products.
This requires asubstantial reorientation of the Company in terms of culture,job-dscription & Organization itself.
Cust Focus helps create a responsive Sales & service envo to attract & retain Customrs
Evolution of CRM
50S Mktg interest was focussed on Consumer Good
60s= Indl. Markets
70s= Considerable Academic effort was placed on Social Marketing
80s= Services Sector
90s= Relationaship Mktg
Mktg impacts wide rang incl. Markets for Customers , Employees, supply,internal , refrral & influencer Mkts such Governmental & Financial Mkts
2ndly at micro levl , recognition that interrelations with customrs is changing. Emphasis is moving from Transaction to Relationship Mkt
Degree of Relationship Mktg:
Diff. Levels as under
Basic
No lasting Relationship is esatblished. Transaction is mad & both parties go their way.
Reactive
Seller offers to respond if buyer has any problms.
Accountable
Seller contacts the buyr aftr the sale to find out how the product has ben received & whther it could have been better.
Proactive
Seller calls customer from time to time with updates on improvemnt to the product & other services to make product's consumption more satisfying.
Partnership
Both parties work together to find solutions to mutual problems & opportunities for mutual success.This arrangement is generally limited to business to business Marketing.
Imp. of Cust Retntion:
Development of long-term relationships with existing customers.
Focus to be changed from Transaction to a Relationship Focus., with emphasis on Cust Retention.,high cust. service & commitment & quality being a concern for all.
Rel. Mktg has emrged because of advances in Info Technology & specifically generation of Cust. Databases.Thse make it easier to identify loyal customers.
Basis of Building Relationship :
Defining beneficial features of a corporate relationship building are based on following assumptions.
Mutual Benfits
Mutual commitments
Trust
Conective Links
These facets work together to form a connective tissue., which can either , be a flimsy & short-loved one or one that is stronger & enduring.
CRM Stratgies:
2 Types : Solicited Feedback
& Operations Feedback.
Various types of Research are employed :
Cust. Expectation Re
Performance Re
Dir. Customer Feedback Re
Process Mgt Re
Solicuited feedback
Operations Feedback
Customer focus Framework consists
Building a shared vision
Designing tio achieve high performance
Implementing Change
Driving continuous improvement
CRM in Insurance
PS Bank & Ins. Companies are supposed to play an imp. role in emancipatiobn of socio-economic dev. processes. Masss have high expectationsIncreasing use of sphisticated info tech by service generating Org. have changed percption of Cust. Services.
More frequency in product-innovation processesRace for quality upgradation is at its peak. Leading Foreign Companies are developing new percetion of cust. services.
Mktg Mgt of an org. plays a contributory role in fuelling processes of qualitative cum quantitativ improvemnts.If we do not take care of our policyholder, destruction of Bond strength may be startd by others.Task of creating strong cust. loyalty is called Rel. Mktg.
Conclusion:
Goal is not to strive for Zero defections but minimum. Main gfocus :Optimizing Customer Equity. Some costs hav to be incurred. Myopic view that Retention is freee should not be taken.
Need to realize gravity of situation & to assign an overriding priority to Mgt of cust. Rtention Mktg activities.
Mgt if Ins. Professionals is imp. to the quality generation.Application of innovative Mktg. principls in Ins. Org. would make ways for multi-dimensional positiv development.
Traditional transactional approach became insufficient.
Retention Marketing became important.
Intro:
Established customrs tend to buy more , are predictable & usually cost less to service than new customers.
They are less price-sensitive & may provide word-of-mouth referrals
Retaining customers also make it difficult for competitors to enter market or increase share.
Objective of CRM is to turn new customers into regularly purchasing Clients, & then move them thro' to being strong supporters of th Company & products., to being finally being vocal & active Advocates of the Company.
2)Customer service in Insurance Industry
Providing consistent, comprehensive,quality Customer service in an ongoing challnge for most organizations.
Customer intimacy represnts 1 of the top 3 priorities for Insurance Industry.
Primary objective of Customer Intimacy is to maintain a strong connection to the customer & producer thro' the delivery of products & services that create a satisfying service experience.
Cust. Service is the buzzword of Corp. world & a firm will be beter known by th quality of its service it provides rather than its market or profit-earning capacity.
While providing good & efficint service is prerequisite for any entity,it poses several problems as far as service organizations are concerned.On account of the invisible & intangible PRODUCER,it makes assessment of the service provided , that much more complicated & difficult.
Retention of Customer:
Retention Ratio
Is this ratio only to satisfy Ego or are we objectively looking at it?
Healthy Competition :
Universally , there is resistence to change.
We have to come to terms to Competitive scenario.
CRM in Ins. Industry:
CRM is about continuously improving the quality of interaction & communication with both new & existing Customers.The staid bundling philosophy,often justified on low awarenss level , has given way to a more robust & wide array of products. Insurers
traditionally concentratd on product-creation, with Distribution & Sales considered a different Business Focus, Therefore CRM was not a ky Concern.
With the evlolution of Technology , customrs are now demanding multipl Channels thro' which they can interact with providers incl. face-to-face contacts, phone, web-sites, e-mail, mobile devices
This has forced Insurers to to explore new Dist. Channels, so that Ordinary Customr has more info about products.
Challenge to Insurrs is to grow & sustain business by rapidly improving Operational Efficiencies & providing tailor-made products for divers group of customers
CRM Strategy:
A Typical Company has a huge Customer Base , varied Product lines,Multipl Dist Channls & a Market Spread across Geographis. For CRM-Utiliz Technology to th Full.
Insurer has to leverage avast pool of data at each step in CRM Process & us the insight gained for developing new products & srvices to meet the vr-changing neds of Customers.
CRM has 3 Steps: 1)Identifying Customers includes, to increas & & Retain profitability of a customer.
To arrive at overall profitability of Customer, Insurrs must qualifyTeh costs involvd in serving the Customer overa period & the revnues realized from a Customer during the period.
In Life Insuranc, ther is also a 3rd part. Good experience adds customers but negative can prove very bad
Health , Dental & Disability products may involv frequent interaction on Claim Payments , Med. Check-ups.
Group products may involv frequent interactions with Plan administrators to manage enrollments & Biling.
ROAD AHEAD:
U/W Dept has to check proposal in respect of the Risk associatedAt some places U/W is done at Corp. Office.
If the targets are vry high , there can be servicing problems.FAults at product development may lead to dissatisfaction
In Gen Insurance:
Mkt Share is generally poor.But Potential Mkt opportunities are more wide.Free Markets & Globalization have increased opportunities.They have to reenginer its approach & Strategies on quality basis.
Quality based strategy called as 'Service Stigma' for process improvement is esential."Service is any act or Performance that one party can offer to another that is esntially intangible.Gen Insurance servic is under category of hybrid variety of service offering which consists ofdifferent types of products & services tied within the products.
Gen Insuranc service is complicated since its needs ar in different phases. Servics are intangibl , inseparable , variable & perishable.
All servic sectors must follow 3 imp. steps for their quality control aspct:
* Recruit right service employees & Train them.
*Standardize serviuce performanc
*Monitor Customer satisfaction by means of suggstion schemes,accepting & reviewing the complaints, customer survey comparison etc
Service Org. Gen Insurance Business must concentrate on 3 imp. tasks.
1.Manage service quality in order to meet or exceed cust. expactations
2.It must differentiate its offer & delivery system.
3.It must manage workers productivity by getting its workers to work more skillfully.
Gen Insurance Cos can improve their Mkt share & profit only by Cust satisfaction & retention. by quality service.
Ins. Cos are at different levels of maturity when it comes to cust service.
They must consider impact of poor cust. service & its cost to Co's reputation.
Ins needsa structure that is flexible enough to support cust service that is personalized or automated & provided in the manner dictated by customer whether aimed at Cust satisfaction , retention or Sales.
To help further realization of "1st Call Final" & deliver personalized service via phone, e-mail, online.Ins. Cos must have info ready for all its reps.
Levels of awareness have to be increased.Ther is strong need , concepts & nuances of Insurance., any amt of Ads would not be much use.
If Ins is a strong Risk Mgt tool, it is because understanding the people possess. Then CRM would be demed to have ben achieved. when awareness is taken to further heights.
To create a satisfying experience for both new & existing customers,Ins Comps should adopt a model that focusses on Customers than products.
This requires asubstantial reorientation of the Company in terms of culture,job-dscription & Organization itself.
Cust Focus helps create a responsive Sales & service envo to attract & retain Customrs
Evolution of CRM
50S Mktg interest was focussed on Consumer Good
60s= Indl. Markets
70s= Considerable Academic effort was placed on Social Marketing
80s= Services Sector
90s= Relationaship Mktg
Mktg impacts wide rang incl. Markets for Customers , Employees, supply,internal , refrral & influencer Mkts such Governmental & Financial Mkts
2ndly at micro levl , recognition that interrelations with customrs is changing. Emphasis is moving from Transaction to Relationship Mkt
Degree of Relationship Mktg:
Diff. Levels as under
Basic
No lasting Relationship is esatblished. Transaction is mad & both parties go their way.
Reactive
Seller offers to respond if buyer has any problms.
Accountable
Seller contacts the buyr aftr the sale to find out how the product has ben received & whther it could have been better.
Proactive
Seller calls customer from time to time with updates on improvemnt to the product & other services to make product's consumption more satisfying.
Partnership
Both parties work together to find solutions to mutual problems & opportunities for mutual success.This arrangement is generally limited to business to business Marketing.
Imp. of Cust Retntion:
Development of long-term relationships with existing customers.
Focus to be changed from Transaction to a Relationship Focus., with emphasis on Cust Retention.,high cust. service & commitment & quality being a concern for all.
Rel. Mktg has emrged because of advances in Info Technology & specifically generation of Cust. Databases.Thse make it easier to identify loyal customers.
Basis of Building Relationship :
Defining beneficial features of a corporate relationship building are based on following assumptions.
Mutual Benfits
Mutual commitments
Trust
Conective Links
These facets work together to form a connective tissue., which can either , be a flimsy & short-loved one or one that is stronger & enduring.
CRM Stratgies:
2 Types : Solicited Feedback
& Operations Feedback.
Various types of Research are employed :
Cust. Expectation Re
Performance Re
Dir. Customer Feedback Re
Process Mgt Re
Solicuited feedback
Operations Feedback
Customer focus Framework consists
Building a shared vision
Designing tio achieve high performance
Implementing Change
Driving continuous improvement
CRM in Insurance
PS Bank & Ins. Companies are supposed to play an imp. role in emancipatiobn of socio-economic dev. processes. Masss have high expectationsIncreasing use of sphisticated info tech by service generating Org. have changed percption of Cust. Services.
More frequency in product-innovation processesRace for quality upgradation is at its peak. Leading Foreign Companies are developing new percetion of cust. services.
Mktg Mgt of an org. plays a contributory role in fuelling processes of qualitative cum quantitativ improvemnts.If we do not take care of our policyholder, destruction of Bond strength may be startd by others.Task of creating strong cust. loyalty is called Rel. Mktg.
Conclusion:
Goal is not to strive for Zero defections but minimum. Main gfocus :Optimizing Customer Equity. Some costs hav to be incurred. Myopic view that Retention is freee should not be taken.
Need to realize gravity of situation & to assign an overriding priority to Mgt of cust. Rtention Mktg activities.
Mgt if Ins. Professionals is imp. to the quality generation.Application of innovative Mktg. principls in Ins. Org. would make ways for multi-dimensional positiv development.
Abhinav Bindra
Nandan Nilekani : Fortune is all about timing.
Abhi : We need to have an overreaching plan
Some were part of my strategy
sOME i LEARNT FROM THETEAM AROUND ME
oTHERS ARE BUILT IN MY PERSONALITY
3 Critical VAlues :
ATTITUDE
Attitude is deciding to us optimally th talent you have.
Talnt is th 1st part.
Being willing to learn.Aiming High.
Motivation
SiZe of the reward.
Size of the taskHow confident you feel about the success.
Rewards are needed evry day
Journey became its own reward
Focus
Method of neurofeedback training
Scintists know which part of your brain does what.Focus has to be like a Torch-beam. At times bright,at times broad , narrow.When discusing a stratgy , I needd a broad focus.
Other times I needed sharp focus.
Modern science says that gnius in a discipline needs 10,000 hours of fucused work.That 3 years at 50 Hrs per week.
Othr school of pragmatists 99 % Perspiration
1 % inspiration
Great attitude , gr8 focus , gr8 motivation wrapped of cours in gr8 passion
Abhi : We need to have an overreaching plan
Some were part of my strategy
sOME i LEARNT FROM THETEAM AROUND ME
oTHERS ARE BUILT IN MY PERSONALITY
3 Critical VAlues :
ATTITUDE
Attitude is deciding to us optimally th talent you have.
Talnt is th 1st part.
Being willing to learn.Aiming High.
Motivation
SiZe of the reward.
Size of the taskHow confident you feel about the success.
Rewards are needed evry day
Journey became its own reward
Focus
Method of neurofeedback training
Scintists know which part of your brain does what.Focus has to be like a Torch-beam. At times bright,at times broad , narrow.When discusing a stratgy , I needd a broad focus.
Other times I needed sharp focus.
Modern science says that gnius in a discipline needs 10,000 hours of fucused work.That 3 years at 50 Hrs per week.
Othr school of pragmatists 99 % Perspiration
1 % inspiration
Great attitude , gr8 focus , gr8 motivation wrapped of cours in gr8 passion
Monday, December 22, 2008
KISMAT CONNECTION
KISMAT HAS CONNECTION WITH EVERY INDIVIDUAL.bUT DON'T DEPEND ONLY ON LUCK KEEP TRYING
JUMPSTART THE PROCESS
MOST OF BEST POSUITIONS ARE FOUND THRO' NETWORKING & WORD OF MOUTH
PROACTIV
DON'T WAIT FOR OPPORTUNITY. GET YOUR BUTT MOVING
PERSONALLY GET IN TOUCH
REQUEST A RFERNCE.DON'T GIVE UP.
ESTABLISH CONNECTIONS & RAPPORT.SUMMARISE THE AGENDA
RECAP DISCUSSIONS
CHECK FOR AGREEMENT.
ASK YOUR CLIENT TO TALK ABOUT WHAT HE EXPECTS
TAKE THE DEAL FORWARD IF THE CLINT IS GIVING AN OPENING.
SUMMARISE & CLOSE THE DEAL.
JUMPSTART THE PROCESS
MOST OF BEST POSUITIONS ARE FOUND THRO' NETWORKING & WORD OF MOUTH
PROACTIV
DON'T WAIT FOR OPPORTUNITY. GET YOUR BUTT MOVING
PERSONALLY GET IN TOUCH
REQUEST A RFERNCE.DON'T GIVE UP.
ESTABLISH CONNECTIONS & RAPPORT.SUMMARISE THE AGENDA
RECAP DISCUSSIONS
CHECK FOR AGREEMENT.
ASK YOUR CLIENT TO TALK ABOUT WHAT HE EXPECTS
TAKE THE DEAL FORWARD IF THE CLINT IS GIVING AN OPENING.
SUMMARISE & CLOSE THE DEAL.
learning to Lean
From old-fashioned Mass-Production to Lean
Process Thinkers
Ford 1st- Flow production. Integrate entire production systm.
LEAN: Start with Custiomer & ask what he wants,Lean is about tools that create goods & services that offer precise customer value. , but with less human effort , less less space, less capital & less tim. Nxt difficult task is how to align pople.
1st instinct is usually wrong.
TOYOTA: 1st day - Blank A3 paper. Corner-Problem written. You have to go out & ask questions to various people & go again & again.
WALL MART Vs TESCO
Retail: Does the consumer want to go thro' all 1,00,000 items? Or does he want Fulfilment?
They divided RETAIL into 5 Formats:ONLINE
HIGH STREET
CONVENIENC
REGULAR SIZ
MEGAmANAGEMENT IS ALWAYS ABOUT SOLVING cUSTOMER PROBLEMS,cREATING PROCSSES TO SOLVE THESE PROBLEMS & ENGAGING ALL MPLOYEES IN ENRGETICALLY OPERATING & IMPROVING THES PROCESSES.
leaN IS BEST BUT WE ARE STILL IN EARLY ADOPTION CURVE.
Process Thinkers
Ford 1st- Flow production. Integrate entire production systm.
LEAN: Start with Custiomer & ask what he wants,Lean is about tools that create goods & services that offer precise customer value. , but with less human effort , less less space, less capital & less tim. Nxt difficult task is how to align pople.
1st instinct is usually wrong.
TOYOTA: 1st day - Blank A3 paper. Corner-Problem written. You have to go out & ask questions to various people & go again & again.
WALL MART Vs TESCO
Retail: Does the consumer want to go thro' all 1,00,000 items? Or does he want Fulfilment?
They divided RETAIL into 5 Formats:ONLINE
HIGH STREET
CONVENIENC
REGULAR SIZ
MEGAmANAGEMENT IS ALWAYS ABOUT SOLVING cUSTOMER PROBLEMS,cREATING PROCSSES TO SOLVE THESE PROBLEMS & ENGAGING ALL MPLOYEES IN ENRGETICALLY OPERATING & IMPROVING THES PROCESSES.
leaN IS BEST BUT WE ARE STILL IN EARLY ADOPTION CURVE.
Sunday, December 21, 2008
MAPPING THE MIND
INTER-PERSONAL INTELLIGENCE
cLASS OF 40 TO BE DIVIDD INTO 4 GROUPS OF 10. THOSE WHO LOEAD THE GROUP-DISCUSSION SHOULD BE ENCOURAGED.
SUITABLE FOR POLITICS,MGT,TEACHING,SOCIAL WORK,SALES & MARKETING
INTRA-PERSONAL INTELLIGENCE
SOME ARE RETICENT. THEY UTTER 1 OR 2 SENTNCS WHICH ARE IMP.
THEY MAY HAVE GOOD ANALYTICAL MIND.
PHILOSOPHY,PSYCHIATRY,THEOLOGY,WRITING,SCIENTIFIC & RESEARCH ACTIVITIES
VISUAL SPATIAL INTLLIGNCE
eXCELENT ROAD-SENSE.THEY AR ABLE TO FORMULAT CLEAR MAP IN THEIR MINDS.EXTENSIV USE OF CHARTS,MAPS & DIAGRAMS
ART,ARCHITCTUR,NGG,ADVERTISING
LINGUISTIC
VERY GOOD WITH WORDSALL WRITERS,POETS,JOURNALISTS NATURAL AFFINITY TOWARDS LANGUAGES
WRITING , JOURNALISM , TEACHING , LAW , PHILOSOPHY , POLITICS
LOGICAL-MATHEMATICAL
MOST EASILY IDENTIFIES & NURTURED
CLASSIFICATION,COMPARISONS,CHARTS,MATCHING , FIGURES, ARE GOOD TOOLS & TECHNIQUES
SCIENCE , MATHS, ENG , MEDICINE , ECONOMICS
MUSICAL
THEY LEAD IN SINGING & MUSICBEST TO TEACH THRO' SONGS TO THESE CHILDREN
SINGING , COMPOSING,CONDUCTING , DISC-JOCKEYING, PLAYING INSTRUMENTS.
BODILY KINESTHETIC
SAROJ KHAN. EXPRESSING WITH THEIR BODIES. DANCES CHILDREN WHO WANT TOP PACE UP & DOWN WHILE LEARNING THEIR LESSONS AHVE THIS INTLLIGENC.
SPORTS, DANCING , ACTING , CARPENTRY , CRAFTS , SURGERY.
NATURALISTIC
ENVO ACTIVISTS NATURAL FONDNSS FOR NATUIRE & ENVO
GOOD TO CONDUCT A GERMINATING WORKSHOP AT SCHOOL.FIELD TRIPS TO GARDENS & PARKS
ENVO. ACTIVISM , BOTANY , ZOOLOGY , FARMING
THESE ARE MULTIPLE INTLLIGENCES REETA SONAVAT(HOWARD GARDNER'S THEORY)
CONDUCTED A WORKSHOP AT CHILDRENS' ACADEMY SCHOOL AT KANDIVALI
REETA= OUR APPROACH IS MORE DIERCTIVETHAN OBSERVATIONAL. tTO REVOLUTIONALIZE EDUCATION SYSTEM.HELP IN MOVING AWAY FROM ACADEMIC ORIENTED GOAL WHERE THRUST IS ON DEVLOPMENT OF LINGUISTICS , LOGICAL-MATHEMATICAL TYPES.
TO SENSITIS EDUCATIONISTSTOWARDS NEED TIO IDENTIFY DIFFERNT INTELLIGENCS
NO SPECIAL CURRICULUMTEACHERS TO DEVELOP OWN CREATIVE STRATEGIES
TO TEACH SAME LSSONS USING DIFFERENT TOOLS
cLASS OF 40 TO BE DIVIDD INTO 4 GROUPS OF 10. THOSE WHO LOEAD THE GROUP-DISCUSSION SHOULD BE ENCOURAGED.
SUITABLE FOR POLITICS,MGT,TEACHING,SOCIAL WORK,SALES & MARKETING
INTRA-PERSONAL INTELLIGENCE
SOME ARE RETICENT. THEY UTTER 1 OR 2 SENTNCS WHICH ARE IMP.
THEY MAY HAVE GOOD ANALYTICAL MIND.
PHILOSOPHY,PSYCHIATRY,THEOLOGY,WRITING,SCIENTIFIC & RESEARCH ACTIVITIES
VISUAL SPATIAL INTLLIGNCE
eXCELENT ROAD-SENSE.THEY AR ABLE TO FORMULAT CLEAR MAP IN THEIR MINDS.EXTENSIV USE OF CHARTS,MAPS & DIAGRAMS
ART,ARCHITCTUR,NGG,ADVERTISING
LINGUISTIC
VERY GOOD WITH WORDSALL WRITERS,POETS,JOURNALISTS NATURAL AFFINITY TOWARDS LANGUAGES
WRITING , JOURNALISM , TEACHING , LAW , PHILOSOPHY , POLITICS
LOGICAL-MATHEMATICAL
MOST EASILY IDENTIFIES & NURTURED
CLASSIFICATION,COMPARISONS,CHARTS,MATCHING , FIGURES, ARE GOOD TOOLS & TECHNIQUES
SCIENCE , MATHS, ENG , MEDICINE , ECONOMICS
MUSICAL
THEY LEAD IN SINGING & MUSICBEST TO TEACH THRO' SONGS TO THESE CHILDREN
SINGING , COMPOSING,CONDUCTING , DISC-JOCKEYING, PLAYING INSTRUMENTS.
BODILY KINESTHETIC
SAROJ KHAN. EXPRESSING WITH THEIR BODIES. DANCES CHILDREN WHO WANT TOP PACE UP & DOWN WHILE LEARNING THEIR LESSONS AHVE THIS INTLLIGENC.
SPORTS, DANCING , ACTING , CARPENTRY , CRAFTS , SURGERY.
NATURALISTIC
ENVO ACTIVISTS NATURAL FONDNSS FOR NATUIRE & ENVO
GOOD TO CONDUCT A GERMINATING WORKSHOP AT SCHOOL.FIELD TRIPS TO GARDENS & PARKS
ENVO. ACTIVISM , BOTANY , ZOOLOGY , FARMING
THESE ARE MULTIPLE INTLLIGENCES REETA SONAVAT(HOWARD GARDNER'S THEORY)
CONDUCTED A WORKSHOP AT CHILDRENS' ACADEMY SCHOOL AT KANDIVALI
REETA= OUR APPROACH IS MORE DIERCTIVETHAN OBSERVATIONAL. tTO REVOLUTIONALIZE EDUCATION SYSTEM.HELP IN MOVING AWAY FROM ACADEMIC ORIENTED GOAL WHERE THRUST IS ON DEVLOPMENT OF LINGUISTICS , LOGICAL-MATHEMATICAL TYPES.
TO SENSITIS EDUCATIONISTSTOWARDS NEED TIO IDENTIFY DIFFERNT INTELLIGENCS
NO SPECIAL CURRICULUMTEACHERS TO DEVELOP OWN CREATIVE STRATEGIES
TO TEACH SAME LSSONS USING DIFFERENT TOOLS
how to sell idea to boss
If you ahv an idea , list out pros & cons. Check iof similar idea was generated recently. What was his respopnse then?
Consult a few colleagues & see their rsponse.Ask for fedback.If nobody fels that idea is outstanding, revise it.
What if your Boss asks questions you are not prepared for. Go back & do further research.Do not defnd unnecssarily.
Always be willing to accept Bosse's suggstions.Don't mak a fuss if some modifications ar suggestd Plurality of opinions only make odea stronger.
Do not start off with self-promotion.Even if your idea is good, Boss is likely to lose interst bfore you reach thre.
Consult a few colleagues & see their rsponse.Ask for fedback.If nobody fels that idea is outstanding, revise it.
What if your Boss asks questions you are not prepared for. Go back & do further research.Do not defnd unnecssarily.
Always be willing to accept Bosse's suggstions.Don't mak a fuss if some modifications ar suggestd Plurality of opinions only make odea stronger.
Do not start off with self-promotion.Even if your idea is good, Boss is likely to lose interst bfore you reach thre.
LONELY PLANET
Some children don't communicate enough.
1. Make sure the problem really exists.Some are comfortable having a few friends.Some keep to themselves.
2.Check their hearing ability. 1 in 10 have a difficultyhearing.
3.tALK TO THE TEACHER.pROBLEM MAY BE SIMPLE SHYNESS.. sHY CHILDREN ARE PERCEIVED TO BE ALOOF & STAND-OFFISH.
4 aSK YOUR CHILD WHAT WORRIES HIMhELP CHALLENGE THEIR NEGATIVE THOUGHTS.
5.Encourage shy children to make friends
6.Encourage them to take lead when playing.When he/she takes an initiative, say, it was great see you playing with your friend
7.Encourag him to tak an activity that interests him. It is good to meet people with shared interests.
1. Make sure the problem really exists.Some are comfortable having a few friends.Some keep to themselves.
2.Check their hearing ability. 1 in 10 have a difficultyhearing.
3.tALK TO THE TEACHER.pROBLEM MAY BE SIMPLE SHYNESS.. sHY CHILDREN ARE PERCEIVED TO BE ALOOF & STAND-OFFISH.
4 aSK YOUR CHILD WHAT WORRIES HIMhELP CHALLENGE THEIR NEGATIVE THOUGHTS.
5.Encourage shy children to make friends
6.Encourage them to take lead when playing.When he/she takes an initiative, say, it was great see you playing with your friend
7.Encourag him to tak an activity that interests him. It is good to meet people with shared interests.
sakal karandak
TAI DIR : sNEHA kHOBRAGADE WRITER: ROOPESH PAWAR ST. URSULA-NAGPUR
Whatever we learn, we should not disobey our parents bcaus of their experience.Our Education system is very complicated.
USE & THROW LALIT KALA - K'PUR
After utilising youngsters , a politician discards them
Navi Olakh SANGEET & NATYSHASTRA,SHIVAJI UNI,K'PUR
Don't leav on somebody's sympathy, Live on your strength.
CHAI GARAM: LALIT KALA,JALGAON
TWO SMALL TEA-STALL OWNERS MET WITH A YOUNG BEAUTIFUL GIRL & START DREAMING ABOUT HER. SOON THEY REALIS THEIR LIMITATIONS.
DIVE JARASE MANDACH ASUDET SANTAJI COLLEGE- NAGPUR
LIFE IS A STAGE.
SAMBHAVAMI YUGE YUGE , MAHA VIDYALAYA, UDGIR
MAN IS RESPONSIBLE FOR MAN'S PROBLEMS. RELIGION IS OUTDATED CONCEPT.
ANANYA RUIA
ONE ACCIDENT CHANGES ANANYA'S LIFE TOTALLY.
BHOOTDAYA-SANKHALI, GOAY.B. CHAVAN MUKT VIDYAPEETH
YOU HELP SOMEONE BUT HE BECOMES MORE POWERFUL THAN YOUSELF.
TAKE IT EASY-DHANWANTARI ENGG COLLEGE
TODAY'S YOUTH & THEIR WAY OF LIFE.
TYACHYA BHALLARICHI BHAIRAVI S. MOHITE COPLLEGE AKLUJ
FARMER & HIS SON WANTS TO JOIN SERVICE SECTOR.
RAIN MAKER- MARATHWADA VIDYAPEETH- A'BAD
TODAY'S GENERATION IS TRAPPED IN HIGHER EDUCATUION, CARER, RELATIONSHIPS
MUSIC & RAIN AR TWO ESCAPES.
NA LAGNATALA-D.M. COLLGE , GOA
A GIRL DECIDES NOT
PAISA WASOOL PODAR
CAGE OF DEATH BY COMMITTING SUICIDE
CHANGBHALE- M.G. MISSION A'BAD
BCAUSE OF UNEMPLOYMENT & NO SCOPE FOR TALENT
INSTITUTE OF PAVTOLOGY- BMCC-PUNE
REAP AS YOU SOW.COLLEGE OF VIOLENCE IS SET UP
LAKSHYA- NASHIK H P T COLLEGE
TWO YOUNG BOTS ARE OUT TO COMMIT SUICIDE
Whatever we learn, we should not disobey our parents bcaus of their experience.Our Education system is very complicated.
USE & THROW LALIT KALA - K'PUR
After utilising youngsters , a politician discards them
Navi Olakh SANGEET & NATYSHASTRA,SHIVAJI UNI,K'PUR
Don't leav on somebody's sympathy, Live on your strength.
CHAI GARAM: LALIT KALA,JALGAON
TWO SMALL TEA-STALL OWNERS MET WITH A YOUNG BEAUTIFUL GIRL & START DREAMING ABOUT HER. SOON THEY REALIS THEIR LIMITATIONS.
DIVE JARASE MANDACH ASUDET SANTAJI COLLEGE- NAGPUR
LIFE IS A STAGE.
SAMBHAVAMI YUGE YUGE , MAHA VIDYALAYA, UDGIR
MAN IS RESPONSIBLE FOR MAN'S PROBLEMS. RELIGION IS OUTDATED CONCEPT.
ANANYA RUIA
ONE ACCIDENT CHANGES ANANYA'S LIFE TOTALLY.
BHOOTDAYA-SANKHALI, GOAY.B. CHAVAN MUKT VIDYAPEETH
YOU HELP SOMEONE BUT HE BECOMES MORE POWERFUL THAN YOUSELF.
TAKE IT EASY-DHANWANTARI ENGG COLLEGE
TODAY'S YOUTH & THEIR WAY OF LIFE.
TYACHYA BHALLARICHI BHAIRAVI S. MOHITE COPLLEGE AKLUJ
FARMER & HIS SON WANTS TO JOIN SERVICE SECTOR.
RAIN MAKER- MARATHWADA VIDYAPEETH- A'BAD
TODAY'S GENERATION IS TRAPPED IN HIGHER EDUCATUION, CARER, RELATIONSHIPS
MUSIC & RAIN AR TWO ESCAPES.
NA LAGNATALA-D.M. COLLGE , GOA
A GIRL DECIDES NOT
PAISA WASOOL PODAR
CAGE OF DEATH BY COMMITTING SUICIDE
CHANGBHALE- M.G. MISSION A'BAD
BCAUSE OF UNEMPLOYMENT & NO SCOPE FOR TALENT
INSTITUTE OF PAVTOLOGY- BMCC-PUNE
REAP AS YOU SOW.COLLEGE OF VIOLENCE IS SET UP
LAKSHYA- NASHIK H P T COLLEGE
TWO YOUNG BOTS ARE OUT TO COMMIT SUICIDE
THE WELCH WAY
1)EXPECT & BE PREPARED TO BE HIT HARDER THAN YOU EXPECT.
2)TO GET COSTS UNDER CONTROL & GET LEAN
3)OVERCOMMUNICATE LIKE HELL ABOUT DIFFICULTIES
4)This is a time when pople get scared & things around them are changing. Tell them the truth about what you are doing why you are doing it & where thy stand.
5) TO TAKE CARE CARE OF YOUR BST PEOPL,DON'T LOSE THEM TO THE COMPETITION.SUPPORT THEM BY GIVING CASH & NOT PLAQUE.
6) cOMPETITION = BUY THM OR BURY THMAT LEAST GET THEIR BEST PEOPLE.
7) THE WORST THING TO DO IN A DOWNTURN IS TO GET DEFENSIVE.ANY JERK CAN GO OUT & DO ACQUISITIONS WHEN THE GOING IS GOOD; BUT NOW IS TH TIME TO GO OUT & ELIMINATE COMPTITION.
8) WHAT IS NEEDED NOW IS A SOCIETY THAT CONSTANTLY INNOVATS.
9) PICK A POSTER BOY & EXAGGERAT HIS SUCCSS LIKE CRAZY.
2)TO GET COSTS UNDER CONTROL & GET LEAN
3)OVERCOMMUNICATE LIKE HELL ABOUT DIFFICULTIES
4)This is a time when pople get scared & things around them are changing. Tell them the truth about what you are doing why you are doing it & where thy stand.
5) TO TAKE CARE CARE OF YOUR BST PEOPL,DON'T LOSE THEM TO THE COMPETITION.SUPPORT THEM BY GIVING CASH & NOT PLAQUE.
6) cOMPETITION = BUY THM OR BURY THMAT LEAST GET THEIR BEST PEOPLE.
7) THE WORST THING TO DO IN A DOWNTURN IS TO GET DEFENSIVE.ANY JERK CAN GO OUT & DO ACQUISITIONS WHEN THE GOING IS GOOD; BUT NOW IS TH TIME TO GO OUT & ELIMINATE COMPTITION.
8) WHAT IS NEEDED NOW IS A SOCIETY THAT CONSTANTLY INNOVATS.
9) PICK A POSTER BOY & EXAGGERAT HIS SUCCSS LIKE CRAZY.
Outsourcing Essentials
Criterion
LANGUAGE
GOVT. SUPPORT
LABOUR POOL
INFRASTRUCTUR
EDUCATIONAL SYSTM
COST
POLITICAL & ECONOMIC ENVIRONMENT
CULTURAL COMPATIBILITY
GLOBAL & LEGAL MATURITY
DATA & INTELLCTUAL PROPRTY & SECURITY & PRIVACY
LANGUAGE
GOVT. SUPPORT
LABOUR POOL
INFRASTRUCTUR
EDUCATIONAL SYSTM
COST
POLITICAL & ECONOMIC ENVIRONMENT
CULTURAL COMPATIBILITY
GLOBAL & LEGAL MATURITY
DATA & INTELLCTUAL PROPRTY & SECURITY & PRIVACY
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