How Techknomatic’s Dashboard Simplifies Your Agent Attrition Analysis
Track Agent Attrition, Manage Risks and Optimize Operations and Productivity With Ease We helped one of our clients leverage BI tools to give them a clear picture of churn across different parts of the business
Industry
Insurance
Business Functions
Risk Management, Business Operations, HR Management
Solution Delivered
Data Analytics, Dashboard Designing & Development
Technologies
Tableau, Power BI
Geography
Singapore
About The Client
This customer is one of the biggest Insurance companies in East Asian countries. For the insurance industry, prioritizing and accelerating digital transformation and data-driven efforts to improve operations, customer experiences, and risk management is the most important activity.
The current requirement of dashboards was to set up a mechanism to monitor regulatory compliance, insurance fraud, or managing audit processes, leveraging powerful analytics to make data-informed decisions
Organizing all the data sources and the CFO dashboard helped decision-makers make informed and timely decisions.
The Major Challenge Our Client Faced
Insurance is an agent-centric industry and maintaining a productive, satisfied workforce is a critical parameter for success. But tracking & analyzing the attrition data and finding business insights with legacy systems, products, and operations models is a time-consuming and complex process.
The client wanted a data-driven system backed by data analytics to give intuitive & interactive dashboards for every business unit.
Techknomatic’s Primary Objective For This Project
Insurance agents are the face of the company and maintaining a long-term engagement with the agents results in continuous business. Agent attrition impacts customer engagement, new customer acquisition, and customer relationships
With an increasing number of agents, tracking & uncovering attrition trends across demographics, geographies, time, or even salary levels is a critical parameter for the human resource department.
Techknomatic’s Solution — Agent Attrition Dashboard
Techknomatic’s business analysts worked on the analysis of the existing HRMS, LMS, Payroll Data and captured data points and the list of KPIs. We suggested a dashboard for insurance leaders to see the attrition trend and parameters impacting the current attrition
The agent attrition dashboard highlights if gender plays any role in the attrition. It highlights how many resources are left within the first year of hiring and what is the age group leaving the organization.
The areas covered in the delivered solution were
Work-Life Balance Impact
Today, more than ever before, work-life balance is a high priority for prospective and existing employees. Analyzing if the work-life balance is impacting the attrition helps management plan the workload to retain agents.
Attrition Demographics
Getting visibility in the attrition numbers by department, job roles, and even education of candidates who left gives a pattern of attrition and areas to improve.
Parameters Impacting Attrition
Agent attrition is not restricted by a limited set of parameters. A deep dive into traveling distances of agents, duration with current manager, the impact of current income helps in finding patterns in the attrition.
How Our Client Benefitted Through Our Solution
Techknomatic’s solution resulted in tremendous benefits. Our client was able to efficiently perform the following tasks:
- Track patterns in attrition data for identifying areas of improvement.
- Get visibility on the exact reasons impacting attrition.
- Keep track of attrition of critical positions for better planning.