Branch productivity analysis: Life Insurance-IPG

Abstract

This report provides analysis of Axis Bank branch productivity in terms of Life Insurance sales based on several factors which might directly or indirectly affect the productivity. Life Insurance is highest revenue generating product for bank and study of any factor impacting productivity of Life Insurance sales is very important. Methodology followed included conducting personal interviews of employees’ in branches across India where their opinions were taken on factors related to People, Process, Product, Technology-Infrastructure and Resources. Results of the analysis show that employees’ are not aligned with their jobs and there is a serious lack of ownership of sales work, product knowledge and selling skills in employees’. Training and awareness about several aspects of Life Insurance business is missing. Literature study suggests using FLAME work environment as an effective tool for promoting ownership of work among employees’. Effective training programs followed by interactive sessions aimed at giving practical exposure to employees would help in promoting product knowledge and selling skills.