Hdfc Life Case Study
Focus: Owing to the upcoming expansion of HDFC Life through their IPO launch, the focus of training and development program shall be on enhancing the comprehensive sales skills of the sales personnel of HDFC Life Insurance.
• To enhance their clarity on company policies and market regulations
• To enhance the product specific knowledge
• To improve customer satisfaction through detailed analysis of feedback
• To expand the customer base through effective implementation of sales strategies
• To motivate the employees through well defined career path within the organisation
• To develop the negotiation skills of the sales force
Brief Summary of the case:
HDFC Life is planning to …show more content…
1. Can compensation be considered as the only motivating factor for the sales personnel at HDFC Life? What can be the other factors affecting their motivation levels?
2. Suggest additional measures to enhance customer satisfaction and expand the customer base of HDFC Life?
3. With the increasing competition in the Insurance sector, what are the factors that HDFC Life should consider before launching its IPO?
4. Given a situation that the IPO launch is due in one month, what can be the short term measures that can be taken up by the higher management to deal with the current problem at hand?
5. Having learned about the IPO expansion plans of HDFC Life; ICICI Prudential Life came up with a new insurance policy that is snatching away HDFC’s major customer base. Being in the shoes of Amitabh Chaudhry , what will be the measures taken by you to handle the current situation?
Exhibit 1 & 2:
Growth in life insurance sector and share of various players in the market
Sales figure of premiums of HDFC Life