A prominent entity in the general insurance sector in India. The Company offers a well-rounded and comprehensive bouquet of products including Motor Insurance, Health Insurance, Travel Insurance, and offers customized solutions to meet the protection needs of each customer. In an endeavor to delight the customers, The company strive to come up with innovative products like India's first Over-The-Counter health & home insurance policies.
- ~$1B GWP (Yearly)
- 200+ Branches
- ~50k+ Sales Agents
- 30+ Cities
- Cumbersome data consolidation process, disparate excel models & dashboards running manually
- Lack of agility and scenario planning capabilities to manage multiple versions of the data
- Data quality and reconciliation issues between statutory, management, and regulatory sets of data
- Manually intensive budgeting, forecasting, and reporting process
Budgeting & Forecasting
Identifying expected demand levels for the product or service with multiple subtle changes that add up over time and change the trajectory of demand.
Transforming a strategic plan into a detailed roadmap, delineating precise actions the team will undertake on a weekly, and at times, a daily basis.
Scenario Planning (What-If)
A dynamic evaluation process to ensure that the production capacity aligns seamlessly with the evolving demands for products.
Identifying and streamlining requirements while establishing the timelines for procurement, with the goal of acquiring them precisely when needed.
- Planning Budgeting, Forecasting
- Sales Planning at a granular Level at Unit & HO Level (Service profile, channel, patient volume, ARR, occupancy, ALOS, No of beds)
- Expense Planning – Driver-based Direct & Indirect cost planning
- Captured as-is and to-be processes, reports and templates
- CAPEX Planning by Asset category
- Costing - Driver-based cost allocations
- P&L Statement, Balance Sheet, Cashflow & Solvency
- What-IF Analysis on the Financial Statement & Solvency KPIs Built complex models and reconciled data across multiple sources
- Linked corporate plan to financial plans and business unit plans
- Linked insights to LRP, AOP & Forecasts
- Ability to perform “what-if” scenario
- Alignment of Obj, plans & tactics
- Forecasts now done on a rolling basis
- End-of-month financial statements are updated every hour. Pre-Anaplan, this took 3x as long
- Timely & Reliable business insights
- Significant error reduction and save time and effort by maintaining one version of truth & discipline throughout planning process analysis and consensus planning
- Able to complete Capacity Planning based on seasonality