Direct Marketing Department, 6th Floor (Link), Yogakshema, Nariman Point, Mumbai Ref:DMC/KPI/2013/Cir-116 Dt: 01.10.2013 All Zonal Managers, Sr.Divisional Managers Regional Managers (Direct Mktg.),All Direct Marketing Units Re: Modifications in KPI Scheme for DSEs KPI Remuneration Scheme for DSEs of the channel was formulated vide circular no. CO-DM/Cir-19/KPI-DSEs dated 22.06.2010 which was further revised vide circular no. CO-DMC/KPI/2010/Cir-46 dated 8.4.2011 and circular no. CO-DMC/KPI/2010/Cir- 65 dated 8.4.2011. The Competent Authority has further approved certain amendments in KPI Scheme for DSEs effective from 01.10.2013. ELIGIBILITY: 1. The DSE will remain under this Scheme as long as he/she continues in the LIC DSE Scheme, 2010 (as amended from time to time). 2. The KPI Scheme is applicable to the SSEs also in their basic capacity as DSEs. 3. The monthly score points will be calculated in accordance with the revised parameters as per the following table: S.No. Parameters Activities Scores Lead Management System 1. Lead updation On month to month basis (Portal & SMS Leads only) (1) 50% of leads updated within 3 hrs of allotment. (2) 75% of leads updated within 6 hrs of allotment (3) 100% of leads updated within 24 hrs of allotment 30 points 10 points 10 points 2. Conversion Ratio (Only Portal & SMS Leads) (1) Conversion Ratio not less than 10% subject to conversion of at least one lead as at the end of month. (2) Conversion Ratio not less than 15% subject to conversion of at least two leads as at the end of month. 20 points Additional 10 points 3. Prospect Building Details of Minimum 10 personal prospects to be uploaded in LMS each week (1st-7th,8th-14th,15th-21st,22nd-28th) (5 points per week) Total 20 points Customer Satisfaction 1. Customer Survey Conducting minimum 10 surveys on the cold Leads data provided by the DMKT units 10 points 2. Customer Satisfaction 1) No complaint 2) (i) Customer survey score of 4.0 and above (Points to be given only in case survey is received from customer subject to a minimum of two surveys) OR (ii) Portal Registration of all completed policies 20 points 3. Conservation of Business (On Regular Premium Policies) Premium paid during the month _____________________________ x100 Premium Receivable during the month DSE duration: 1. Upto two years – 90% 2. Above two years – 85% 20 points For up to 5% less 10 points Products 1. Health Insurance/Child Insurance/Pension Plan For every policy of minimum First Premium of Rs 10000/- providing Health Insurance, Child Insurance or Pension. 10 points each (Subject to a maximum of 50 points) Segments 1. HNI Segment For policy having 1 lac or above FPI under Single Premium OR Rs.25,000 Regular premium 10 points For each policy (Max. 50 points) For a policy having 5 lacs or above premium under single policy. 50 points 2. Youth Segment For every policy sold within the age group of 18 yrs to 35 yrs with minimum premium of Rs 10000/- FP or Rs 50,000/- SP 10 points (Maximum 30 points) 3. Female Segment For every policy sold on Category – I and II female lives. Minimum premium of Rs 10000/- or Rs 50,000/- SP 10 points (Maximum 20 points) Total 350 points The DSE will be paid KPIs for Max. 240 points i.e. Rs 12000/- only. DSE should procure at least FPI of Rs 10,000 to be eligible for KPIs for any month. (There will be no minimum business requirement for newly engaged DSE during his/her month of engagement to earn KPIs for that month ,but will have to procure at least FPI of Rs 10,000 to be eligible for KPIs from the next month onwards) WHENEVER POLICY IS MENTIONED, SEPARATE LIVES WILL ONLY BE CONSIDERED. ONE POLICY WILL BE GIVEN CREDIT UNDER ONE PARAMETER ONLY It has been decided to remunerate SSE level I & II with higher monetary value of score point subject to fulfilling the following condition: Parameters Activities Business Development At least one business presentation at an Institution /Company /College or any such body Monetary value of score points SSE level –I -- Rs 55/- per point SSE level –II -- Rs 60/- per point 4. The remuneration is payable monthly. 5. DSEs will be required to perform as under to get full remuneration in the next quarter and New business parameters (Total First Year Premium) for quarterly review of monetary value of score points (basic being Rs. 50/- point): Year of DSEship 1st Quarter (15%) 2nd Quarter (20%) 3rd Quarter (30%) 4th Quarter (35%) Total(Rs) 1st Year 90,000 1,20,000 1,80,000 2,10,000 6,00,000 2nd Year 1,05,000 1,40,000 2,10,000 2,45,000 7,00,000 3rd Year 1,35,000 1,80,000 2,70,000 3,15,000 9,00,000 4th Year 1,57,500 2,10,000 3,15,000 3,67,500 10,50,000 5th Year 1,80,000 2,40,000 3,60,000 4,20,000 12,00,000 6. The DSE is required to bring in at least minimum composite premium of Rs. 10,000/- in the month to be eligible to receive KPI remuneration for that month. However, there will be no minimum business requirement for newly engaged DSEs during their month of engagement to earn KPIs for that month, but will have to procure at least FPI of Rs 10,000 to be eligible for KPIs from the next month onwards. 7. The first review of New Business performance for the purpose of determining score value is to be done from date of joining till the end of the immediately following quarter on the basis of target and achievement for the entire period. 8. The monthly remuneration will be payable only if there is no unauthorized absence of DSE during the concerned month. An unauthorized absence would mean such an absence which is not approved by the Competent Authority. However, an EOL duly approved by the competent authority will not amount to unauthorized absence. Effect of EOL will be proportionate deduction of eligible KPI amount during the month on a base of 30 days. 9. KPI points for the month of joining of DSE may be calculated proportionately depending on the no. of days worked in that month to the base of 30 days for KPI item Lead Updation (Item no. 1). On all other parameters, actual scores are to be credited. This circular supersedes all previous instructions issued in this regard. Executive Director (Direct Mktg.)
Posted on: Thu, 10 Oct 2013 07:23:42 +0000
Trending Topics
Recently Viewed Topics
© 2015