Digital Journey: Industry trends and our achievements in recent times February 2016
Reliance Capital Digital Journey: Industry trends and our - - PowerPoint PPT Presentation
Reliance Capital Digital Journey: Industry trends and our - - PowerPoint PPT Presentation
Reliance Capital Digital Journey: Industry trends and our achievements in recent times February 2016 Disclaimer This presentation does not constitute a prospectus, an offering circular, an advertisement, a private placement offer letter or offer
Confidential Slide 2 This presentation does not constitute a prospectus, an offering circular, an advertisement, a private placement offer letter or offer document or an offer, or a solicitation of any offer, to purchase or sell any securities under the Companies Act, 2013 and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law. This presentation should not be considered as a recommendation that any investor should subscribe for, or purchase, any securities of Reliance Capital Limited or its subsidiaries or its associates (together, the “Company”) and should not be used as a basis for any investment decision. The information contained in this presentation is only current as of its date and has not been independently verified. No representation, warranty, guarantee or undertaking, express or implied, is or will be made as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information, estimates, projections and opinions contained in this presentation. The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any person of such revision or changes. This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our operations, government policies, regulations etc. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward looking statements. None of the Company or any of its affiliates, advisers or representatives accepts any liability whatsoever for any loss howsoever arising from any information presented or contained in this presentation. Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. Furthermore, no person is authorized to give any information or make any representation which is not contained in, or is inconsistent with, this presentation. Any such extraneous or inconsistent information or representation, if given or made, should not be relied upon as having been authorized by or on behalf of the Company. This presentation and its contents are confidential and should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. The distribution of this presentation in certain jurisdictions may be restricted by law. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions. The information contained herein does not constitute an offer of securities for sale in the United States or in any other jurisdiction. Securities may not be
- ffered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended.
Disclaimer
Confidential Slide
Information Technology
Contents
Way Forward 3 Predictions & Trends - 2016 and beyond 1
►
Strategic Predictions for 2016 and Beyond
►
Internet, Channels, Social, IOT, Virtual Assistants, Big Data
►
Projects undertaken against the emerging trends - Website modernizations, Mobile Apps, Private Cloud, Advanced Analytics
Current Trends & Our Journey 2
►
Social, Mobile, Analytics, Cloud, User Experience, Security, Strong Core
►
Prescriptive Analytics, Hybrid Cloud, Security, Strong Core, User Experience
►
More Mobile Apps…
3
Confidential Slide
Contents
Way Forward 3 Predictions & Trends - 2016 and beyond 1
►
Strategic Predictions for 2016 and Beyond
►
Internet, Channels, Social, IOT, Virtual Assistants, Big Data
►
Projects undertaken against the emerging trends - Website modernizations, Mobile Apps, Private Cloud, Advanced Analytics
Current Trends & Our Journey 2
►
Social, Mobile, Analytics, Cloud, User Experience, Security, Strong Core
Information Technology
►
Prescriptive Analytics, Hybrid Cloud, Security, Strong Core, User Experience
►
More Mobile Apps…
4
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200 400 600
(in million)
2015 2008 2006 2012 2010 2004 2002 2000 1998 1996 1994 1992 2018
5
Exponential internet explosion
India racing ahead: 550 MN+ internet users by 2018
Over 550 million internet users by 2018
60% will only access the internet through their mobile
Source: Boston Consulting, Accenture
Internet
1
Predictions - 2016 and Beyond 1
20 years for first 100 million users; 2-3 years for second 100 million; 1 - 1.5 years for next three 100 million each
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40 20 100 80 60 7.1% 2.9% 7.2% 22.4% 0.1% 3.5% 0.3% 2.4% 42.0% 2010 2003 3.3% 94.3% 5% 49.0% 15.8% 44.6%
% share of transactions from banking channels
2020 (Base) Branch ATM cards POS (Card) Call centre Online Mobile
Direct channels
Survey across 14K customers, 50K bank employees (2011)
In Banking ~0% 3.9% 33% % share of direct channels
By 2020, Share of transactions on direct channels to increase from 4% to 33% (Banking)
Source: Boston Consulting,
Channels
2
Predictions - 2016 and Beyond 1
6
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Social Media Users to Grow by 15% by 2016-17 in India
- 240 million Internet users in India
- 106 million active social media users
- Today social media banking users are
not even 5% of Active Internet banking
- r social network users
- By 2016-17, it will grow to 13-15%, so
an exponential growth is expected
Source: Gartner, Boston Consulting
Social
3
Predictions - 2016 and Beyond 1
7
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One million New IOT devices will be purchased every hour of every day in 2021 By 2020, 50% and more domestic smart objects will be able to communicate (directly or indirectly) with smartphones
By 2018, 6 billion connected things will be requesting support
By 2018, 2 million employees will be required to wear health and fitness tracking devices as a condition of employment
Worries about system data will be dwarfed by concerns over personal, behavioral and health data
Source: Boston Consulting, Accenture
Internet of Things (IOT)
4
Predictions - 2016 and Beyond 1
8
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By 2020, smart agents will facilitate 40% of mobile interactions, and the post-app era will begin to dominate
- Virtual personal
assistants (VPAs) for workforce productivity would be on the rise
- Cloud services with
- pen VPA APIs would
grow
The post-mobile / post-app era is coming… Virtual Assistants
5
Predictions - 2016 and Beyond 1
9
Source: Gartner
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Through 2020, Smarter and Faster Business Decisions Will Be a Key Driving Force of IT Innovation.
- Big Data Analytics will be embedded
everywhere
- IDC predicts that by 2020, 50% of all
business analytics software will include prescriptive analytics
- By 2020, IDC predicts, data monetization
efforts will result in enterprises increasing the marketplace’s consumption of their own data by 100-fold or more
- Also, by 2020, the amount of data that is
worth analyzing will double
Source: IDC, Gartner
Big Data
6
Predictions - 2016 and Beyond 1
10
Confidential Slide
Information Technology
Contents
Way Forward Predictions & Trends - 2016 and beyond
►
Strategic Predictions for 2016 and Beyond
►
Internet, Channels, Social , IOT, Virtual Assistants, Big Data
►
Social, Mobile, Analytics, Cloud, User Experience, Security, Strong Core
►
Projects undertaken against the emerging trends - Website modernizations, Mobile Apps, Private Cloud, Advanced Analytics
Current Trends & Our Journey 2
►
Prescriptive Analytics, Hybrid Cloud, Security, Strong Core, User Experience
►
More Mobile Apps…
11
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Increasing Customer Demands: The Digital Era has increased customer demands and technologies such as Social, Mobile, Analytics / Big Data and Cloud are disrupting businesses everywhere Digitalization Core Competency: Digitalization has become a core competency now and Mobility has been one of the most disruptive technologies of all
Current Technology Trends and Our Journey 2
While Analytics is ‘The Priority’ today, Social is also emerging as another disruptive force and a powerful medium to connect people and share & disseminate information at a global scale Cloud is becoming the core foundation for everything on IT Infrastructure and the increasing digitization with business processes exposure to internet is demanding stricter Information Security controls
12
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SOCIAL MOBILE ANALYTICS CLOUD
Current Technology Trends and Our Journey 2
IT Security IT CONTINUITY RESPONSIVE STRONG CORE
13
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Current Technology Trends and Our Journey 2
Social Media
1
Customer Care Advertisement/Marketing Leads and Acquisitions Customer Engagement ORM / Branding
Actively using leading social media platforms such as Facebook, YouTube, Twitter, Google+ to engage with customers Social Media Platforms being used for Product Sales and customer Servicing Using these platforms to Increase customer awareness on products, services and brand awareness
14
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Current Technology Trends and Our Journey 2
Social Media
1
A few Examples of Social Media Adoption / Innovation across group
Reliance Life Insurance has introduced ‘Shop Now’ feature on Facebook for online policy sales/ lead generation. The page has over 271,570+ likes Customers on Reliance Securities Facebook page can use ‘Sign UP’ feature for opening Reliance Securities Trading Account
We are present on
Customers on Reliance Mutual Fund (RMF) page can use applications such as ‘RMF Risk Profile’ , & ‘Goal Calculator’. The page also provides channel to contact customer support / Generate leads and provides informational videos to prospects/existing investors. The page has over 1,291,144 likes Reliance Commercial Finance (RCF) Facebook page boasts ‘Ask the experts’, which is a knowledge series by Anu Kapoor dedicated to customers RMF is using WhatsApp for selected transactions and Customer Support. RGI is also using WhatsApp for customer servicing. Facebook is being by RGI for Go Fit and Child Safety campaigns
15
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Number of Followers:
- August 2015 - 1.24 MN
- December 2015 - 1.5 MN
Engagement:
- August 2015 - 4.0%
- December 2015 - 5.5%
Content:
Number of Followers:
- August 2015 - 71.6k
- December 2015 - 90k
Engagement:
- August 2015 - 0.2%
- December 2015 - 1%
Content:
Number of Followers:
- August 2015 - 65.7k
- December 2015 - 90k
Engagement:
- August 2015 - 0.4%
- December 2015 - 1%
Content:
Objective - Drive awareness and consideration about ETFs on LinkedIn Objective – Use Twitter as a medium to Amplify communication e.g. Live Tweeting from the Bloggers’ meet with the hashtag #LambiInningsKiTaiyari Objective - Drive greater engagement with a relevant TG of 25 - 34 year olds
Social Media - Reliance Mutual Fund 2
16
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Glimpse of few initiatives
270,415
Social Media - Reliance Life Insurance 2
Social Media
1
Do Good Campaign
17
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Current Technology Trends and Our Journey 2
Mobile
2
Direct Sales & Support Field Force Empowerment Leads and Acquisitions Customer Engagement / Education Branding & Positioning
We are using mobile platform throughout
- ur business process. It has become one of
- ur main streams for:
- Direct Sales and Support - Account
Openings, Quotes, Illustrations, eKyc, Document Submissions, Receipt Printing, Collections etc.
- Customer Engagement - Product /
Portfolio information, Customer support, Mobile services etc.
- Field Force Empowerment -
On Demand Information Dissemination, Training, Performance Dashboards, Lead Managements
18
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Current Technology Trends and Our Journey 2
Mobile
2
With this App, Reliance Mutual Fund Investors can:
1) Get insights on various Funds & their Performance (Funds details, Latest NAV, track markets and track Reliance Funds.) 2) Seamless Online Transactions - Purchase, Redemption, Switch, SIP & SWP. 3) Investor Services
- Account Statement View
- NAV details
- Locate our Branches, Service Centers &
Distributors
- Contact Us
- Subscribe to reports for Markets, News and
Factsheet 4) Dynamic Calculators Goal Planner, SIP Calculator, Retirement Planner, EMI Calculators
Reliance Mutual Fund - Investor Mobile Application
19
Few Mobile Initiatives Across Group
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Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
This app is dedicated to Distributors and facilitates:
- News of Financial Markets
- Details of new funds offered by Reliance
Mutual Funds
- SIP Performance
Using this app our distributors can: Track selected funds basis various parameters like NAV, Fund Size, Lump sum & SIP Performance, volatility measures
Reliance Mutual Fund - Distributor App Business Easy
20
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Current Technology Trends and Our Journey 2
A quick investment App for Reliance Mutual Fund Investors with the following features: 1) Simplicity
- One Click Investment
- One Click Withdrawal
- One Scheme - Cash Plan
2) Automation
- ARN hardcoded
- Display of ARN Name
- Life Long Folio/ ARN tag
- No Direct Scheme Option
- Multiple payment option including OTBM i.e.
One Time Bank Mandate
- Optional Reliance AnyTime Money Card
Mobile
2
Few Mobile Initiatives Across Group
Reliance Mutual Fund - Simply Save
21
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Current Technology Trends and Our Journey 2
This is an app for improved communication and interaction between employees across
- locations. Features include:
1) Facility to share files and reports during conference call and meetings 2) Quick Conference Setup with auto notifications to the relevant invitees 3) Feedback capturing by way of rating and responses through instant polls, thereby making the conference more interactive and engaging
Mobile
2
Few Mobile Initiatives Across Group
Reliance Mutual Fund - Conference App
22
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Current Technology Trends and Our Journey 2
Integration with WhatsApp to provide an additional channel for customers: 1) Instant access to Reliance MF for transacting and service needs during 8:00 AM to 9:00 PM 2) Keyword capability for automatic responses
Interaction Count Transaction related 1047 Non Transactional 1051 Grand Total 2098
* as of December 2015
Mobile
2
Few Mobile Initiatives Across Group
Reliance Mutual Fund - WhatsApp Customer Service
23
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Current Technology Trends and Our Journey 2
This app is for field force empowerment It’s a tab application for RLIFE Advisors and provides necessary information, and tools to the advisors to be productive when in the field It provides information such as: Customer Information, Proposal Status, Policy Status, Policy and Renewal Details It has tools for advisors to add and mange leads and access commission details. It also provides Benefit Illustrators for various products in sales catalogue
Mobile
2
Few Mobile Initiatives Across Group
Reliance Life Sales Assist
24
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For Sales force and Customers
- Well Start is half done as customer self need
analysis is done directly
- Personal and financial details are not required for
getting probable requirements
- Confusion of proposing a Solution is over
- Instant Premium and Benefit
- Self discovery is better than proposing, leading to
better conversion
- Get a customer for Life due to higher satisfaction
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance Life Need Analysis
25
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Customer and Sales force can use this app for tracking the status of a policy right from the initial stage of login until the policy is dispatched and delivered
- Transparency in displaying policy status
- Information Access - Quick and Accurate
access to status information
- This initiative is helping us in reducing call
centre enquiries
- Better TAT
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance Life Proposal Tracker
26
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This app is open for all
- TAX App help user calculate taxes but also
suggest user ways to maximize savings
- Direct integration with LMS for ready access
to leads
- Connect to recommended product and lead
capture for every profile
- Total Installs - 2,460
- Total Active Users - 760
- Average App Rating - 4.50/5 (64 ratings)
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance Life TaxApp
27
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Current Technology Trends and Our Journey 2
Anywhere Assist helps customer in providing Vehicle Related Road Side assistance The mobile application provides real time location information and direct calling facility to customer support executive
Mobile
2
Few Mobile Initiatives Across Group
Reliance General Anywhere Assist
28
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Smart Assist enables self help for sales force through:
- Policy Features and benefits
- Rate chart / Premium calculator
- Product features and comparison
- Customer feedback
- Assistance
regards to Network Hospitals, Network Garages, Company News
- Customer
testimonials
- videos
& written
- Product FAQs
- Contest updates, related MIS & winner
announcements
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance General Smart Assist
29
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Motor Plus for claim managers & surveyors towards faster claim assessment/settlement with Video Streaming option Features:
- Vehicle damage survey
- Loss estimation
- Settlement up to authority limit
- Video
capture
- f
damages and submission to Backend
- Real time notification
- Chat
Reliance Motor plus
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance General Motor Plus
30
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RMPIS is used for Vehicle inspection before underwriting the policy Features:
- Vehicle Location information
- Distance travelled by FOS for
reimbursement
- Create inspection request
Motor Pre- Inspection Survey
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance General RMPIS
31
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Current Technology Trends and Our Journey 2
RMobile Xpress is Mobile trading application for our customers to stay ahead & trade from anywhere and at any time Customer can enjoy real time trading in equity, derivatives and currency from RMobile Xpress Features:
- Customizable watch list
- Get stock quotes & Live streaming Market
Watch
- Transfer and withdrawal of funds
- Real-time charts on NSE and BSE
- Portfolio Tracker, Order status & day / net
positions, after market Order
- Convert and square off open positions
Mobile
2
Few Mobile Initiatives Across Group
Reliance Securities - MobileXpress
32
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Pocket Office is meant for Sales Force and redefines the concept of working in an office. Everything needed to manage leads and field work is available
- Easy and convenient attendance logging
mechanism with regularization feature and STP with attendance system
- Access to customer leads assigned in CRM.
Updates to the leads are synced online with CRM ensuring consistency of data across various platforms like web, mobile, tabs
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance Securities - Pocket Office
33
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Tick Mobile App A new and improved mobile app is proposed soon for our trading customers with rich features like market watch, portfolio with real time feeds and enhanced user experience and reduced steps
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance Securities - TICK Mobile App (WIP)
34
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Tick Pro Especially designed app for F&O traders
- Provides Derivative scanners and
pre-defined options strategy
- Quick order placement features to
enhance trading experience
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
Reliance Securities - TICK Pro Mobile App (WIP)
35
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Current Technology Trends and Our Journey 2
The app provides access to a large property database threading together customers funding requirements through RCF’s home and mortgage loan producsts
Mobile
2
Few Mobile Initiatives Across Group
RCF / RHF - Reliance Property Solutions App
36
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This application is a customer acquisition and decision making tool for a loan applications and is seamlessly integrated to credit bureau, core lending application and analytics engine
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
RCF / RHF - Customer Acquisition App
37
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Application for Sales Managers to get real time updates from core lending application for the cases sourced by them
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
SIP (Sales in Progress) App
38
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Application for Collection Agents to interact and collect the payments from delinquent
- customers. Supervisor has the
- ption to get the agent location
and allocate cases efficiently
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
RCF/RHF - eCollect App for collection agents
39
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The app enables the sales managers to visit the customer and provide update and has features for review mechanism, reimbursement process, geo tagging etc.
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
RCF/RHF - SMP (Sales Management Process) App
40
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This mobile application enables the credit officers/managers to attend & interview the customer based
- n
the risk score generated by Analytics tool
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
RCF/RHF – MCO (Mobile Credit officer) App
41
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TAB FAB is a direct customer feedback tool at branches - to analyze the customer satisfaction in terms of service, products etc.
Current Technology Trends and Our Journey 2
Mobile
2
Few Mobile Initiatives Across Group
RCF/RHF - Tab Fab App
42
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Current Technology Trends and Our Journey 2
Analytics
3
Customer Insights Risk Management Marketing Channel Execution Capability Developments
Analytics
43
- Sentiment Analysis
- Social Media Analysis
- Click Stream Analytic
- Risk Based Pricing
- Portfolio Analysis
- Credit Risk Analysis
- Fraud detection and Management
- Lead Generation
- Campaign Management
- Customer Segmentation
- Sales Performance
- Profitability
- Next Best Offer
- Custom Modeling
- Customer Linkage and Identification
Capabilities (Customer One View)
- Workflow Process Improvements
- Personalization
Confidential Slide
- Organization has little or no
capability to derive insights from data using predictive analytics
Analytical Competitors
Stage 5:
Analytical Novice
Stage 1:
Localized Analytics
Stage 2:
Analytical Aspirations
Stage 3:
Analytical Companies
Stage 4:
Analytics Vision & Strategy Information Management Insight Generation Value-led Implementation Analytics Capabilities & Infrastructure
- Less effective leaders who
display minimal interest or understanding in analytics, and have trouble garnering support, building teams or executing upon the strategy.
- Business units request IT to
extract/provide data on an ad- hoc basis.
- Primary focus on tactical
- bjectives, e.g. acquisition
and cross-sell
- Few analytical skills or roles
- Attached to specific functions
- Organization has limited
capability to derive insights from data using predictive analytics
- The analytics capability is run
as business as usual in the respective business units and there is a lack of structured decision making processes.
- Data dictionary exists but is
fragmented and IT focused, without business context.
- There is some form of
framework and process to the deployment of analytics capabilities.
- Unconnected pockets of
analysts
- Different skill levels of
independently run teams
- Organization has capability to
derive insights from data using predictive analytics with limited focus on value
- Limited number of leaders
understand and believe in the impact analytics can have on the organization.
- A comprehensive and
business relevant data dictionary is readily available and integrated with robust maintenance processes.
- Full range of models
developed, including prospecting, customer development, customer loyalty/churn, revenue management, etc.
- Analysts recognized as key
talent and focused on important business areas
- Limited cross-functional
engagement
- Organization has capability to
derive insights from data using predictive analytics and rigorously monitors incremental value
- Leaders exhibit a passion for
analytics, build and develop teams to execute the
- strategy. Analytics is viewed
as an enterprise asset and a competitive differentiator.
- Data is of sufficient quality for
decision making. Well-defined processes are in place to improve quality of data as needed.
- Techniques used include
advanced techniques (e.g., CHAID, CART, neural, genetic algorithms) in addition to regression
- Highly capable analysts
explicitly recruited, developed, deployed, and engaged
- Organization uses the best in
class analytical capabilities and performs value led experimentations of designing and modifying processes
- Data for the purposes of
decision making is embedded into the management processes and readily available to decision-makers.
- Full range of real-time models
developed using variety of techniques, with application to customer strategy and future trend prediction
- World-class professional
analysts; cultivation of analytical amateurs across the enterprise
- Leaders have mastered
analytics to achieve a leadership position in their
- industry. They have
effectively leveraged the analytics ecosystem Study By: Accenture
Very Strong Strong Intermediate Moderate Absent
Current Technology Trends and Our Journey 2
Analytics
3
We are well placed on our journey to become an “Analytical Company”
44
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Current Technology Trends and Our Journey 2
Glimpse of few initiatives Analytics
3
Reliance Commercial & Home Finance
CV Acquisition Scorecard Model Developed and implemented in Loan Originating System (LOS) for generating credit scores of the applicant. Implemented model shows significant drop in First Payment Default(FPD) numbers (~50% Drop in FPD)
Mortgage Customer Retention - Predictive Modelling Customers segmented into attrition risk segments as per statistically significant demographic, geographic, repayment and bureau variables. Customers are taken for campaign and offers are given to stay back
Collections Management Models developed for predicting delinquency and performed cost-productivity mapping for scientific agency allocation and capacity management
Risk Based Pricing - Auto and Mortgage Risk based pricing models developed for differential pricing which accommodates the credit risk of individual customer
HL Scorecard Model for Home Loans (except AH) is able to predict 68% of the Defaulters in the top 3 deciles
45
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Current Technology Trends and Our Journey 2
Glimpse of few initiatives Analytics
3
Reliance Life Insurance
Daily Dashboard for New Business, Renewal & Persistency sent to all stake holders
Various Analytics models designed:
- Predictive retention - A model to classify customer based on lapse propensity
- Reinstatement model – Identifying lapsed customers for reinstatement
- Advisor persistency model – Propensity model for increase in Agency Activisation
- Claims model – Pilot project to evaluate early claim trend
- Underwriting model to strengthen underwriting grids and guidelines
- Claim fraud analytics
- Refinement/recalibration of Lapsed/Reinstatement models to improve 13th month persistency
- Identifying Upsell Opportunity for E-Sale customers
Some of the early benefits seen are:
- Increase in renewal collections from high risk customer group
- Increase in reinstatement campaign resulting in higher reinstatement collections
- Accurate data driven by Data Quality initiative helping in better decisions
46
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Glimpse of few initiatives
Current Technology Trends and Our Journey 2
Analytics
3
Reliance General Insurance
Operations One View: Key Metrics to intuitively generate sliced data for Policy conversion, TAT, Customer contactability, Premium Receivable’s, System Utilizations, Collections & Pay-In-Slips building controls on trends
Motor Portfolio Score Card: Helps improve efficiency on Claims relating to Motor portfolio. Helps plan future strategies towards prudent decisions and ensure service assurance to the Customer
Regulatory Matrix & Score Card: Single dashboard to help review regulatory submissions and the tool help automatic submissions to the regulator, wherever possible
Daily Performance Report: Daily Performance of Premium numbers for different products across Channels, Branches and Zones to help online reviews and initiate relevant strategies
47
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Glimpse of few initiatives
Current Technology Trends and Our Journey 2
Analytics
3
Reliance General Insurance Quality & Systems Automation Metrics: Help review qualitative matrices based on defined rules related to Six Sigma methodology Customer Segmentation: Risk based pricing model used for differential pricing based on customer demographics and transaction behaviour Enterprise Risk Score Card: For a Bird’s eye view
- f various Risk indicators derived from a variety of
sources
48
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Glimpse of few initiatives
Current Technology Trends and Our Journey 2
Analytics
3
Reliance Securities Web Analytics (Google) - Click Stream Analytics / Website Usage Pattern Tick (Beta Launch) - The new platform for cash and derivatives trading, which will provide customers with a real time portfolio monitoring, integrated market watch across various platforms, market news & company information on a single click, technical breakout alerts, analysis via advance charting tools and various other indicators Hourly Trading Dashboards - Trading volume dashboards are flashed on an hourly basis to central, region & branch teams R advantage - Loyalty Program - Reward point program based on customer trading pattern Customer segmentation - Customers segmentation done based on trading product patterns, platform usages, propensity to stop trading etc. Basis segmentation targeted campaigning and offers are rolled out to customers
Glimpse of few initiatives
49
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Glimpse of few initiatives
Current Technology Trends and Our Journey 2
Analytics
3
Reliance Capital Asset Management Analysis of website Traffic, Usage Patterns, Customer Behaviour etc. Equity Analytics - Visual Dashboard on Trends, Day to day Portfolio Value, & other important market feeds Campaign Management - Running numerous campaigns based on customer data / segmentation / available leads
Glimpse of few initiatives
50
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Analytics
3
Glimpse of few initiatives
Current Technology Trends and Our Journey 2
Reliance Capital Asset Management Website Traffic - Purchase Funnel Analysis
51
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Current Technology Trends and Our Journey 2
Cloud
4
Overview of Cloud Initiative at RCL
Objective
- We have successfully deployed our own private cloud
- Actively Using Cloud SAAS and PAAS models across group. Few examples:
- Office 365 (Mailing, SharePoint Online, Lync, Yammer)
- HCM (Recruiting, On boarding, Talent Management, eLearning)
- CRM (One of our business)
Setup private cloud and subsequently move to Hybrid Cloud Adoption
Our private cloud and DC consolidation exercise is benefitting through INR 4-5 crore savings
- annually. Other benefits have been:
30% reduction in server footprint and related costs
High uptime for critical systems with features for High Availability by design
Moving to a state of automated IT operations & Centralized Monitoring
52
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Enhanced Focus to strengthen IT setup towards safeguarding systems from increasing online security risks
SOC SIEM GRC Anti DDOS NAC
… … … … …
Current Technology Trends and Our Journey 2
53
Security
5
WAF SSL VPN 2 FA/PIM AD Upgrade DLP/SafeBoot
53
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Enhanced Focus on Improving Customer Experience
Current Technology Trends and Our Journey 2
User Experience
6
We are committed to bring in the best to our customer and constantly improve the quality of our interactions with them. Necessary steps have been taken across our
- rganization to optimize our processes & services for enhanced user experience
across multiple interaction channels
All customer facing sites have been modernized
All our websites are now mobile ready/responsive
Call center capabilities have been improved
IVR, Web Chat, Video Chat and Messaging Application Integrations have been carried
- ut for different communication channels
All our products sections and customer servicing channels are being modernized for enhance user experience and ease of doing business with us
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Confidential Slide
Current Technology Trends and Our Journey 2
And … How Are We Doing?
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Confidential Slide
Increase in web traffic by 65% as compared to previous fiscal
Increase in Online transaction / Premium by 46% as compared to previous fiscal
Social Media Penetration has increased by 50%
Social Listening & ORM initiatives indicates that there is a significant increase in brand value positive sentiments
Current Technology Trends and Our Journey 2
Reliance General Insurance
Increase in web traffic by 30% as compared to previous FY
Near double increase in revenue through digital channels
Sales Productivity enhancement by 30%
Reliance Commercial Finance
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Confidential Slide
Overall Website Traffic has increased 30% compared to previous fiscal
Overall increase in Online Leads by 58% as compared to previous fiscal (till date)
Exponential Growth on Social Presence - 4 times penetration the social media as compared to previous fiscal
Digital Purchase volume expected to increase by more than 100% by Mar 2016
Mobile Trading App downloads have more than doubled as compared to previous fiscal
282% increase in the Mobile Active user count
300% increase in the value of revenues generated for digital purchase of the customers
Current Technology Trends and Our Journey 2
Broking and Distribution
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Confidential Slide
Attracting web traffic over 31 Lakhs unique users
Continues to dominate the social media presence
Page level engagement rate stands at 11% of the total fan base which is highest in the BFSI category
Bounce rate gone down by 40%
Session duration increased by almost 110%
Current Technology Trends and Our Journey 2
Reliance Life Insurance Online traffic compared to last year… There has been significant improvement in the usability of the website and the bounce rate compared to the same period last year due to constant enhancements
Source: Google Analytics
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Confidential Slide
Website Traffic has increased 6 times as compared to previous fiscal
Digital Purchase volume expected to increase by 650% by the end of current FY as compared to previous fiscal
Mobile App download has crossed 1.5 lakhs
Active Mobile App users: 25000
Social Media Penetration has doubled
Current Technology Trends and Our Journey 2
Reliance Capital Asset Management
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Confidential Slide
Total Number of Campaigns
December 2015 : 35 January 2016 : 42
Digital Revenue %
December 2015 : 8.95 January 2016 : 9.32
Current Technology Trends and Our Journey 2
Reliance Capital Asset Management Campaign - Analytics Top 5 Campaign performance for the month of Jan - 2016
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Confidential Slide
Current Technology Trends and Our Journey 2
Reliance Capital Asset Management
2.45+ Mn
Video Views on the Reliance Retirement Fund TVC on Youtube
1.3+ Mn
Fans on Facebook with a 4.8% Engagement Rate – highest in the AMC industry
1300+ Entries in the #ThanksMaa Contest on Facebook and Twitter – with 2 Mn+
impressions and a 232% increase in Engagement Rate
#LambiInningsKiTaiyari
Trended organically on Twitter in Mumbai for 1 hour due to the live tweeting in the Blogger’s Meet event
~70k+
Followers on LinkedIn and Twitter
110k+
Downloads of the new mobile app across Android and iOS
8L +
Visits to the new website due to the campaign
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Confidential Slide
Information Technology
Contents
Way Forward 3 Predictions & Trends- 2016 and beyond
►
Strategic Predictions for 2016 and Beyond
►
Internet, Channels, Social , IOT, Virtual Assistants, Big Data
►
Projects undertaken against the emerging trends - Website modernizations, Mobile Apps, Private Cloud, Advanced Analytics
Current Trends & Our Journey
►
Social, Mobile, Analytics, Cloud, User Experience, Security, Strong Core
►
Prescriptive Analytics, Hybrid Cloud, Security, Strong Core, User Experience
►
More Mobile Apps…
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- 1. Analytics (from Predictive to Prescriptive)
- 2. Big Data & Enhance usage of Social channels
- 3. User Experience
- 4. Renovating the Core
- 5. Mobiles Apps including extension on Intranet capabilities
- 6. Open Technology Adoption
- 7. IOT
- 8. Hybrid Cloud, High Availability and DR capabilities
- 9. IT Security
Way Forward 3
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Confidential Slide
Way Forward - What is imperative for us… 3
For some time, there has been pervasive need for every business to become a digital business. We focused on leveraging social, mobile, analytics, and cloud (SMAC) to build capabilities that help us turn into a digital business and move Technology from a support function to essential business differentiator, giving us a competitive edge
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