Company: Future Generali India Insurance Company Ltd., Mumbai, India
Company Description: Future Generali India Insurance is a JV between the Future Group: Game-changers in Indian Retail & Generali Group: Renowned 187 year old Insurer. As a second-generation player in our 12th year, we have 125+ offices, 1.5+ million customers, AUM worth Rs. 3,198 crore & settle 210K claims per year. Customers & partners alike recognize us for customer-centricity & fairness in claim-settlement.
Nomination Category: Customer Service & Call Center Awards Achievement Categories
Nomination Sub Category: Best Customer Feedback Strategy
 Nomination Title: Tuning into Excellence: The Artistry of Our Customer Feedback Strategy
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the nominated achievement since July 1, 2021, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below.
Since our inception in 2006, Future Generali India Insurance Company Limited has stood at the forefront of innovation and excellence in the insurance sector. We have rapidly evolved into one of India's leading private general insurance providers. Our impressive journey has seen us achieve breakeven within a mere six years of establishment, a testament to our unwavering dedication to our growth & success. With assets reaching a commendable INR 6748 Cr and a gross written premium of INR 4627 Cr in FY 2023, Future Generali has firmly secured its position among the top 10 general insurance companies in India.
At the hear of our transformative journey lies the Net Promoter System, a cornerstone of our feedback and insights strategy. We firmly believe that our story steeped in resilience, innovation and commitment to customer delight, deserves to be celebrated. Through this award we aim to showcase our exceptional achievements.
- Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 189 words used.
Our organization’s journey is defined by a pioneering Comprehensive Customer Feedback Strategy. We recognize that customers are at the core of our existence, and thus, we have meticulously designed a strategy that goes beyond conventional approaches. Distinguished by a multitude of feedback channels, including Transaction surveys (T-NPS), Relationship surveys (R-NPS), Digital Feedback, and Ad-hoc Market researches, we capture nuanced customer sentiments across touchpoints like Purchase, Claims, Customer Service, Operations, and Renewals.
Our robust organizational structure champions customer-centricity, featuring Cloopers, Touchpoint-Champions, and Touch-Point Owners who orchestrate swift responses to customer feedback. Notably, our top leadership, including department heads and the CEO, actively partake in closing the feedback loop, embodying a steadfast commitment to putting our customers first.
The Closing the Feedback Loop Mechanism is not just a process; it's a culture. Our teams embrace this ethos, engaging in service recovery and root-cause identification, ensuring that insights are not only acknowledged but actively acted upon. Furthermore, customer-centricity is ingrained in our corporate culture, with CX being a Key Result Area (KRA) for all employees. This commitment is reinforced through NPS RNR rewards, recognizing, and celebrating employees for their outstanding customer-centric efforts.
- Outline the nominated achievement since July 1 2021 that you wish to bring to the judges' attention (up to 250 words):
Total 248 words used.
Future Generali's Customer Experience (CX) team has orchestrated a remarkable journey of achievements, propelling our standing to unprecedented heights. Our commitment to CX transformation is vividly reflected in the surge of T-NPS to an impressive 64, surpassing the 2016 score of 34 and showcasing an unwavering dedication to customer satisfaction.
A testament to our dedication to personalized experiences, the average % Promoters soared to 84.6% for Human & Caring Experience and 83.2% for Effortless & Caring Experience in 2023. This underscores our relentless pursuit of delivering not just service but memorable interactions that resonate with our valued customers.
A hallmark of our success is the swift response to customer concerns, with an outstanding 88% of Detractors successfully Closed Loop within 48 hours in 2023, demonstrating our agility and commitment to service recovery.
Our RNPS performance witnessed an exceptional leap from 30 in 2021 to an impressive 54 in 2023, outperforming industry averages and even surpassing Best Blue Peer Allianz. This achievement underscores our prowess in relationship-building and our dedication to exceeding customer expectations.
A pivotal metric, the Renewal ratio, surged to 60% in 2023, a significant increase from 50% in the past 12 months, showcasing the enduring trust our customers place in Future Generali. Through the application of Design Thinking, we revamped 8 Customer Journeys, closing 53 Process Improvement actions, solidifying our commitment to innovation and continuous improvement.
These achievements are a testament to our team's dedication, innovation, and unwavering commitment to delivering outstanding customer experiences.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 47 words used.
We have attached a pdf document named “Future Generali Best Customer Feedback Strategy” with this submission. The presentation show cases the following sections;
Our Comprehensive Customer Feedback Strategy
Our Close Loop Mechanism
Actions & Impact through Feedback Strategy
Leveraging Customer Feedback for Customer Culture
Awards & Recognitions
- Explain why the achievement you have highlighted is unique or significant. If possible compare the achievement to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 239 words used.
What sets these achievements apart is the meticulous orchestration of a comprehensive CX transformation that not only exceeded industry norms but propelled us onto an unparalleled trajectory of innovation and customer satisfaction. Our T-NPS surge to an impressive 64 is more than a numerical triumph—it's a testament to our deep commitment to understanding and meeting the evolving needs of our customers.
Dedication to personalized experiences, reflected in soaring average % Promoters for Human & Caring Experience and Effortless & Caring Experience, is our proactive commitment in action. We don't just offer services; we curate meaningful interactions that forge lasting emotional connections with our customers. Addressing customer concerns swiftly, with 88% of Detractors Closed Loop within 48 hours, showcases our commitment to agility and service recovery. This not only builds trust but underscores our dedication to turning challenges into opportunities for customer delight.
Surpassing industry averages and outperforming Best Blue Peer Allianz in RNPS performance highlights our commitment to not just satisfying but delighting our customers.
The use of Design Thinking to revamp 8 Customer Journeys and close 53 Process Improvement actions speaks volumes about our dedication to continuous improvement and operational excellence. In essence, Future Generali's CX team has crafted a narrative of rewriting the rules of customer engagement, setting a benchmark for exceptional experiences in the insurance industry. These accomplishments aren't just significant; they are a testament to our unwavering commitment to reshaping the future of customer experiences.
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