IT Support and Initiatives

Marketing Projects

Project SBI Card Channel ( data Sharing) BNP Channel Referral BA Online BA Online Enhancements Agency Online

EFT Projects
Project Housing Loan Collection thru EFT Renewal Premium Collection thru EFT Renewal Premium Collection thru ATM BA commission payout thru EFT Group Swadhan Initial premium thru EFT

Home Loan Premium Collection
• The data will flow to the SBI Life systems directly from CBS • Any connectivity issues will be technically resolved • Credit will go directly to Collection A/c • Non-Loan a/c premium to be accepted thru generic interface • EOD reports for reconciliation

Joint Life Indication
• Discussed options –
– Separate transactions with Cust-id – A single transaction with indicator – A single transaction w/o indicator – Push-pull arrangement thru the online premium calculator

Joint Life Indication
• The last option (push-pull) is not possible to implement. • Operational and marketing factors are involved. • SBI Life is ready to accept any of the rest • Preference order is from 1  3

Collection of Renewal Premium
• 2 options available –
– Direct access to SBI Life data for verification – Premium payment thru generic interface or – SBI Life data to be stored with CBS – Regular data upload – Data Administration by SBI

Renewal Premium Collection
• 1st proposal is favorable to both IT teams • Data will be made accessible to CBS • Policy wise query will be made • On validation, generic interface to collect premium • EOD transaction report for reconciliation • Instant Credit to collection a/c

Renewal Premium Collection
• Current Status– Security Issues been raised by SBI – SBI has agreed on proposed process – Our IT is studying the feasibility aspect – Alternate path via ATM been studied – SBI IT doing a feasibility study – Business requirements have been forwarded to SBI

Online ATM Collection
• • • • Registration process waived Online query of policy records Current due amount to be collected 3-way communication b/w ATM, SBI Life db and Bank A/c • Credits to be updated from bank statement • Available to all Common customers

Online ATM Collection
• Current Status –
– BRS floated – Initial technical discussion over – ATM team starting project – Business Requirements to be frozen within a week – IT Feasibility study being taken up

Bank Commission Payout
• Currently individual credits for each bank branch • A specific commission a/c available • This a/c is a special (BGL) account • Initial to cover 4000 SBI branches • Extend to All Associated Banks • Permission awaited for ABs

Bank Commission Payout
• Current Status– BRS floated on Process change – SBI agreed on starting with existing CBS branches – Request forwarded to give same facility for ABs – Marketing channel also following up for ABs – Pilot likely in Dec’ 2006

Workflow Process

Proposal Scanning at HUB branches

Policy printing at Hub branches

Proposed Changes For Proposal scanning
Yes's – • Policy Printing at Hub • Scanning of Proposals at Hub
Only for Urgent cases now

No’s – • Data Entry at both Hub & Satellite • Data Entry Approval at Hub • Photocopying

Scanning Setup
Satellite Branch Hub Branch CPC

SP Remote Centralized Location

Proposal Scanning
• All proposals to be scanned at Hub • Service Provider (SP) to provide scanners and manpower • Data Entry and Approval to be done by SP • At a Remote centralized facility of the SP • Related requirements to be raised by SP

Processing Channels
Scanning and DE in regular mode

Normal Channel

Green Channel

Urgent Channel

Scanning and DE in priority mode

In-house DE and Issuance

Proposal Scanning Process
• No physical movement of proposals to SP • Data Entry Correction module to be made available • Scanning to take place on a day-today basis • Images to be uploaded at a central repository

Proposal Scanning Process
• SP to download the images for data entry • Data entry and Approval on Portal • Xpress U/W at Hub on next day • Manual cases to be referred to CPC • Images to be kept with SP for a week • This is to provide Corrections in DE

Satellite Satellite Branch Branch

Hub Hub Branch Branch

Service Service Provider Provider

Proposal Received Proposal Scanning

Initial Scrutiny Hub Data Entry Data Entry by Service Provider

Requirements

Xpress Underwriting

Validation by Service Provider

Cashier Entry

Cashier Entry Validation

Non Xpress Cases

Xpress Cases

Policy

Printing

Outward to Hub

Dispatch

Medical / Mandatory Requirements
21

Manual Underwriting At CPC

Policy Issuance At CPC

Change in Job Profiles
• Temporary Staff –
– No Data Entry

• Associates
– No Data Entry – No Validation – No DE Requirement handling – Better supervision of Temps – Coordination with SP’s personnel

Change in Job Profiles
• Supervisory Staff– Better supervision of Associates & Temps – Greater focus on Front Office jobs – Faster grievance redressal – More support to sales staff – Control on policy printing

Exception Handling
• Undetected errors at SP’s end • Wrong indexing of proposal papers • Urgent cases to be delivered instantly • Incomplete proposals scanned for DE • Mismatch of proposal no and image

Sales Servicing Interface
• • • • • • Scanning will freeze the Proposals Any further change – only thru letters Focus on Quality of Proposals Presently heavy rework is needed Rework flows into CPC as well Post-scanning – Rework to be very costly

Process of Rework
• Scanning will freeze at current position • Data will be stored for ever • No change possible on proposal • Any further change only thru signed letter • Fresh scanning of new documents • Higher storage space for corrected proposals

System Pre-requisites
• • • • • • • Policy Printing Module Portal Enhancement/Validations New SUC module AML rolled with Xpress U/W Xpress to handle all products I/O Module Requirement Module

Control Statements
• Proposals Scanned • Proposals Scanned but not data entered • Proposals data entered but not approved • All Proposals Status Report

Policy Printing at Hub Branches

DECENTRALIZATION OF POLICY PRINTING Current process
Work Flow From Satellite to Hub Branch
Satellite Branch Hub Branch

Proposal Inward

DE Approval

Xpress U /W Cashiering

Cash. Approval Non Xpress Cases Data Entry

Xpress Cases

Photocopying & Despatch of Proposal Outward

Underwriting At CPC

Policy Issuance & Printing At CPC

DECENTRALIZATION OF POLICY PRINTING

Satellite Branch has the following jobs.
• • • • • • Proposal Inward Scrutiny of all documents Cashier Entry Cashier Entry Validations Proposal Data Entry Outward of Medical/High Risk/Non -Xpress cases to the CPC.

Hub Branch has ,over and above the mentioned jobs.
• Data Entry Validations for all nonmedical/Xpress proposals • Xpress Underwriting of STP cases • Photocopying of proposals (own and satellite) • Outward of proposals to the CPC • Processing of Group as well as Credit Life proposals

DECENTRALIZATION OF POLICY PRINTING

For their own proposals (Hub Branch), the following activities are done –

• • • • • • • • • •

Proposal Inward Scrutiny of all documents Cashier Entry Cashier Entry Validations Proposal Data Entry Validation of all proposals Take photocopy of all proposals received Xpress Underwriting of STP cases Outward of proposals to the CPC Processing of Group as well as Credit Life proposals

DECENTRALIZATION OF POLICY PRINTING PROPOSED PROCESS
Work Flow From Satellite to Hub Branch Satellite Branch Hub Branch

Proposal

Inward

DE Approval

Cashiering

NM/STP Cases Cash . Approval

Xpress U /W

Policy Printing Data Entry Physical Proposal Proposal Photo Copy DE Validation

Print File Despatch

Medical/ Non-STP Cases

CPC

Underwriting Pol. Issuance

DECENTRALIZATION OF POLICY PRINTING Added activities for the HUB branch will be : • Receiving the print files generated at CPC on a daily basis. • Administration of Policy stamps  Franking, ‘Mudrank’ or physical stamps • Printing of Policy documents . • Physical handling of all Printed and Preprinted stationery. • Escalation of the dispatch and photocopying facilities.

DECENTRALIZATION OF POLICY PRINTING The proposed system will have 4 streams of proposals being processed.2 each at the Satellite and Hub branch • Satellite Branch – Non-Xpress Case • Satellite Branch – Xpress Case • Hub Branch – Non-Xpress Case • Hub Branch – Xpress Case

DECENTRALIZATION OF POLICY PRINTING Satellite Branch – Common Functions
• • • • • • Proposal Inward Scrutiny of all documents Cashier Entry Cashier Entry Validations Proposal Data Entry Photocopying of proposals.

DECENTRALIZATION OF POLICY PRINTING
Satellite Branch – Non-Xpress Case • • • • • • • • •

Validation for Non-Xpress (NX) proposals. Outward of NX proposals to the CPC Outward of the Photocopies to the respective hub branch. At CPC, all NX cases will be u/w under the usual norms. The Policy issuance batch will run for all cases. Policy print files will be downloaded at the hub branch. Printing of policy documents will take place at the hub branch The photocopy of the proposal will be tagged The hub branch finally sends the documents to the policy holder.

DECENTRALIZATION OF POLICY PRINTING Satellite Branch – Xpress Case • Outward of proposals to the CPC • Outward of the Photocopies to the respective hub branch • The Policy issuance batch will run at CPC for all cases. • Policy print files will be downloaded at the hub branch. • Printing of all the policy documents at the hub branch. • The photocopy of the proposal will be tagged. • The hub branch dispatches the documents.

DECENTRALIZATION OF POLICY PRINTING
Hub Branch - Common Functions • • • • • • Proposal Inward Scrutiny of all documents Cashier Entry Cashier Entry Validations Proposal Data Entry Validation of all proposals

DECENTRALIZATION OF POLICY PRINTING
Hub Branch – Non-Xpress Case
• • • • • Outward of NX cases to the CPC At CPC, all medical/NX cases will be underwritten . The Policy issuance batch will run for all cases. Policy print files will be downloaded at the hub branch. Printing of policy documents will take place at the hub branch. • The photocopy of the proposal will be tagged . • The hub branch finally sends the documents to the policy holder.

DECENTRALIZATION OF POLICY PRINTING Hub Branch – Xpress Case
• • • • • • Take photocopy of all proposals received Xpress Underwriting of STP cases Outward of proposals to the CPC Processing of Group as well as Credit Life proposals. Receiving the print files generated at CPC daily. Printing of Policy documents including the Ombudsman information sheet. • Dispatching the documents to the policy holder.

Printing Procedure
• • • • Daily Policy Issuance batch at CPC. Hub branch to log-on to portal. Select the satellite/hub branch . Select the policy records to be printed. • Confirm the data in the print-preview screen. • Select ‘OK’ for final print. • Batch mode of printing is not allowed.

Printing Procedure
• Reprints are not directly available • Saving the Print file is not possible • For any reprints, request has to be given to CPC • Any corrections required will have to be submitted to CPC. • Proper format has to be attached for all requests

• Depending on the severity of the error, corrections will be made in the record or policy will be dropped. • In case of a dropped record, the status will go back to pre-proposal. • The branch will have to correct the record in the data entry mode and proceed like a fresh proposal.

DECENTRALIZATION OF POLICY PRINTING Control Statements

• • • • • •

Branch wise Denomination report for stamp value of all policies printed Proposal underwritten at CPC but not issued Policies issued but not printed Policies Printed but not dispatched Policies Re-printed branch wise Mudrank balance report branch wise

Operation Process
Project

Refund module Status validation in CE Revival campaign ULIP death claims -Registration Reinsurance Portal enhancements

• • • • • • • • •

Projects executed
Nomination Assignment & Re-Assignment Revival Duplicate of Policy Alteration Refund module ULIP death claims –Registration Reinsurance Portal enhancements

Nom ination
The PH can effect the nomination to receive the policy money in the event of his death during the policy term.

Notice Nomination Form of Nomination Original Policy Document Check the PH’s rights in the Policy Make necessary changes in the system Return Policy Document to the Policy holder
Assignment overrides the nomination

• • • • •

As signment
Title,Interest,Rights under the policy are transferred from the assignor to assignee 1) Absolute Assignment
• •

For Valuable consideration Assignor has no rights in the policy once assigned

2) Conditional Assignment The rights are transferred back to the assignor in the event of death of assignee during the Policy Term

In the event of the PH survives the Policy Term ,the rights under the policy will revert back to the PH.

As signment /Re-as signment Requir ements
• • • • • •

Notice of Assignment / Re-assignment Form of Assignment /Re-assignment Original Policy document Check the assignor’s Right, title ,interest in the Policy Make necessary changes in Policy Document Return the Policy Document to the Assignee/Assignor

Lapsat ion
• • • Policy lapses when the premium is not paid within the grace period Grace period is 30 days from the First Unpaid Premium Policy Status will be “LAPSE” in the system if the premium is not paid until 180 days from First Unpaid Premium Interest will be charged for every completed month from First Unpaid Premium for revivals

Reviv al /R ein stat ement
• • Arrears of Premium Plus Interest if the policy is revived within 6 months from FUP Arrears of Premium Plus Interest and DGH (Declaration of Good Health) if Revived during after 6 months And medicals will be required to be submitted wherever needed

Iss ue of Duplicate Policy
• • • • •

Request letter from the PH Verify the assignment details if any Call for the necessary forms, Indemnity bond if needed Collect the Policy preparation charges and Stamp fees Issue of the Duplicate Policy

Policy A lterat ions
• • No alteration is allowed in first year of the policy except Mode change Alterations allowed in subsequent years are as follows SA Reduction , Term Reduction, Addition/ Removal of Riders Increase in Sum Assured / Term is not allowed

Paym ent method
•Cheque/DD •Direct

Debit instructions –Credit card

•Standing •Salary •ATM •Drop

Savings Scheme

box

Products
Project

Unit Plus II Pension Horizon II Pension Group Gratuity Scheme – ULIP Group Super Annuation

New Projects
Project XO Enhancement for claims LLP Annuity ULIP CDA Module Agency Hierarchy Management Claim module-Servival Benefit Claims module - Maturity Medical Payout - TPAs Service Tax for NRIs Simplification of Proposal Form NRE/NRO Collection & Disbursement Group Swadhan Corporate Salary A/C