How A Leading Insurance Firm Increased New Lead Acquisition by 35%

Within six months of adoption, the firm saw 10% increase in renewal ratio, 35% increase in new lead acquisition, and 2.5x increase in daily intermediary engagement.

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Loves LeadSquared for:

  • Better daily visibility though Check-Ins
  • Stakeholder intervention through low-engagement alerts
  • Improved Renewal Rate and New Lead Addition
  • Better Sales Execution through Mobile Activity Logging
  • Zero misrepresentation through Geo-tracking
  • Actionable Reports






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Universal Sompo GI, a challenger in the Insurance red ocean, has been witness to a surge. It’s GWP rose to INR 12,909 Million in FY 2017 from INR 9026 Million in FY 2016. The investors rewarded them handsomely with Sompo and Dabur increasing their ownership by 6% and 2% respectively owing to sustained growth. With a footprint of 11000 banks, 2433 dealers, 2319 agents, and 898 brokers, Universal Sompo was making serious inroads.

But, for a glitch– their persistency & new lead growth was flat.

With a field sales force of 560 Relationship Managers operating without a central Sales Execution platform, keeping a tab on imminent renewals was turning into a hair-splitting exercise. Coupled with the lack of field activity monitoring, Branch Managers had no visibility into an RM’s depth and quality of engagement with intermediaries in the value chain. Renewal rate was constant (even negative at 25% intermediaries) and new leads were being added in a trickle. To add to the complexity, all renewal and new lead data were being recorded in excel sheets which were prone to human error and an execution time lag.

For the audacious targets they had committed to, the current sales operations model would have set them up for failure. We met the Executive Team in the summer of 2018; what follows next is a turnaround story.

Using mobile as a turnaround agent

Consistent intermediary engagement is the key to renewals & new leads. Without a business workflow for measuring activities at the FOS level, Universal Sompo was facing severe challenges around visibility and actions at the RM level.

They partnered with LeadSquared to introduce a tightly-knit sales execution framework in a device that is closest to the RM on the field – their mobile phones.

a) Better daily visibility through Check-Ins

All RM’s were equipped with LeadSquared’s Mobile Application that required them to check-in at 9:00 AM, before they resumed work.

These check-ins were followed by a team check-in report to their Branch Managers at 9:30 AM. If an RM had failed to check-in at 9:00 AM, an in-built workflow would remind them to do so, every 10 mins, till 10:30 AM. If they still did not check-in, a calling team would intervene for a status-check helping Branch Managers with real-time visibility.

b) Stakeholder intervention through low-engagement alerts

Regional Managers, Branch Managers, and Zonal Managers were mandated to engage in a minimum number of intermediary visits every day. Without an app.

To monitor their beat plan, sales hierarchy had no visibility around daily meeting numbers. Today, with the help of LeadSquared’s mobility suite, an instant alert is triggered to Managers if their reporting layer does not meet mandated Engagement numbers in a day or week.

c) Better Renewal Rate and New Lead Addition

With daily meeting numbers getting back on track, a welcome outcome for Universal Sompo GI was a marked increase in the number of Renewals and New leads fed into LeadSquared’s web CRM. Since RMs were constantly meeting intermediaries like Bank Branch Managers, Auto Dealers, and Brokers,

LeadSquared provisioned for lead and renewal data entry from the meeting location through their Mobile Application, which in turn were instantly routed to their Operations team for actionIn a mere 6 months of deployment new lead addition has increased by 35% & renewal rate by a staggering 10%.

d) Better Sales Execution through Mobile Activity Logging

A Web CRM constricts your field team to log their activities on the go. To add to it, Universal Sompo’s RM’s were missing activities when they were on the field.

They simply forgot to log them into a CRM when they were in front of a computer. LeadSquared eliminated the chances of core activities like inserting logs for a follow-up meeting/call or any task of significance by provisioning for an activity tab associated with every intermediary. Right after the meeting, the Mobile CRM would nudge the RM to punch an outcome for the same. The result – more persistence in sales execution.

e) Zero misrepresentation through Geo-tracking

LeadSquared’s geo-tracking module allowed RMs to sync their live meeting location with the app. Managers could look up all meeting locations across teams for a better pulse of the field force. Also, misrepresentation of meeting data was forbidden; LeadSquared ensured that meeting location would only be accepted if the reps. were within 500 meters of the specified location.

fActionable Reports

Sales managers have access to detailed actionable reports that envelop the spectrum of sales management – Kms traveled by an RM, the number of intermediary visits, all activities conducted on the field, new policy, and renewal data at the intermediary level, etc.

These reports are configured on various levels – Name of the RM, Intermediary. Type (whether Bank Branch or Auto Dealer), Parent Branch Zone; in short, visibility is shared along with multiple slices for stakeholders to share a horizontal and vertical view.

The result:

Thanks to adopting LeadSquared’s mobile CRM for their field sales and operations, Universal Sompo saw a drastic change in their sales processes. Six months after adoption, their renewal ratio increases by 10%, new lead acquisition increased by 35%, and there was a 2.5x increase in daily intermediary engagement. 

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