Rrb Process

Star Union Dai-ichi Life’s

RRB: Referral Business Procurement Process

PDF created with pdfFactory Pro trial version www.pdffactory.com

RRB Process RRB Process

Front-end process Customer acquisition Front-end sales Proposal completion Proposal deposit collection Mail room process

Back-end Process Mail room process Scrutiny of proposals Docketing Proposal entry Requirement management process Issuance Mail room process

2 PDF created with pdfFactory Pro trial version www.pdffactory.com

RRB BO

Nodal Officer at RRB HO

RRB BRANCH NODAL

SUD BACK OFFICE

•Cheque/DD/PO payabme at HO is collected •Pay-in-Slip (PIS) is stamped by BO (Whoose Pay-in slip? - Bank's or co-branded?) - preferebaly bank's PIS •Poposal Form, PIS Copy and CHeque/DD/PO are completed referring to the Check List therewith, ensuring proper scrutiny •Signatures put, witnessed, all documents (self attested) attached • Attached documents with Cheque/DD/PO are sent to Nodal Officer at RRB HO •Records maintained at the Branch: A register of the proposals referred/sent by each branch to the Nodal Officer must be maintained by the AM/BE. Format to be communicated.

•INWARD - Stamping /Inward Register format for inwarding the proposals recieved from the branches. Format to be communicated. •Banking of the DDs/Payorders/Cheques revceived alongwith each application at the Designated RRB Branch. Individual proposal wise entries are to be made and not bulk deposit entries. •SCRUTINY - Check List. •Requirement Management •Scanning of the requirements and sent to BO through e-mail. •Preparation of Consolidated PIS (pre-printed+self carbonated) - with reference no. like 101/1,2,3.... (One Consolidated PIS to have details of one or more PIS in series and their ref. nos. / Online Portal will have a facility to login and enter the details of the transactions and generate a PIS online, which will be used for depositing. • Dispatch to SUD Back Office - Dispatch to SUD Regional Office/ Backoffice which ever is applicable • Records Maintained: Inward and Outward Registers, Register of Requirements forwarded to the BO. Exel Sheet also mainatined. - This can also be keyed into the portal. • Acceptance of Consolidated PIS •Banking of the DDs/Payorders/Cheques revceived alongwith each application at the Designated RRB Branch. Individual proposal wise entries are to be made and not bulk deposit entries. • Details entered in the Account • Daily at BOD/EOD Statement of Account is e-mailed to SUD Back Office, copy to Nodal Officer •. If the outward records are entered into the system while dispatch by nodel officer, can be retrieved at RO/ BO

• Inward • Scrutiny • Direct Entry / Underwriting (Receipts based on Consolidated PIS) •Reconciliation •SMS to AMs/BEs •Collection File from RRB branch i.e. Bank Statement containing App. No. , Trans ID, Amount •Nodal Person for RRB - Reconcile the Statement •Agreement on the Format •Regular Reconciliation Process • Issuance • Dispatch

PDF created with pdfFactory Pro trial version www.pdffactory.com

RRB BO

Nodal Officer at RRB HO

• Cheque/DD/PO payabme at HO is collected • Pay-in-Slip (PIS) is stamped by BO (This is Bank’s Pay-in-slip) • Poposal Form, PIS Copy and CHeque/DD/PO are completed referring to the Check List therewith, ensuring proper scrutiny • Signatures put, witnessed, all documents (self attested) attached • Attached documents with Cheque/DD/PO are sent to Nodal Officer at RRB HO • Records maintained at the Branch: A register of the proposals referred/sent by each branch to the Nodal Officer must be maintained by the AM/BE. Format to be communicated.

• INWARD - Stamping /Inward Register format for inwarding the proposals recieved from the branches. Inward Register Format attached • Banking of the DDs/Payorders/Cheques revceived alongwith each application at the Designated RRB Branch. Individual proposal wise entries are to be made • SCRUTINY - Check List. Attached format • Requirement Management • Scanning of the requirements and sent to BO through e-mail. • Preparation of Consolidated PIS (pre-printed+self carbonated) - with reference no. like 101/1,2,3.... (One Consolidated PIS to have details of one or more PIS in series and their ref. nos. / Online Portal will have a facility to login and enter the details of the transactions and generate a PIS online, which will be used for depositing. • Dispatch to SUD Back Office - Dispatch to SUD Regional Office/ Backoffice which ever is applicable • Records Maintained: Inward and Outward Registers, Register of Requirements forwarded to the BO. Exel Sheet also mainatined. - This can also be keyed into the portal.

PDF created with pdfFactory Pro trial version www.pdffactory.com

Hierarchical Representation of SUD Life’s Distribution Staff and their correspondence at Various RRB Levels

PDF created with pdfFactory Pro trial version www.pdffactory.com

Role Descriptions Assistant Manager (Bancassurance)/Bancassurance Executive: He will be IRDA Licensed and will drive sales from a cluster of branches at the Branch level and maintains relationship at the branch level. Has Headquarters at one of the branches in the cluster and visits and provides services viz. taking leads, canvassing policies, closing sales, obtaining cheques/DDs (no cash transactions would be allowed), obtaining requirements, arranging medical, forwarding proposals to the Nodal Officer along with cheques/DDs to all the branches in the cluster. Assistant Managers and Bancassurance Executives will have the same role to play.

• Deputy Bancassurance Manager (Rural): Deputy Bancassurance Managers will be leading a team of Assistant Managers and Bancassurance Executives at the RRB regional level and driving new business through referrals from RRB branches. He will be IRDA Licensed and will be responsible for relationships at RRB’s regional and branch levels and supporting the team in sales, supplies, and any grievance redressal at local levels.

Nodal Officer: Will be responsible for driving all the business from the RRB. He holds the overall responsibility for the RRB Relationship and for driving business from the Referral partner. He will be IRDA Licensed and coordinates with the RRB Management at the HQ level as well as maintains relationships at the Regional and Branch level. He will be responsible for logging in deposits into the RRB Account from the cheques/ DDs received from the branches and ensures that the proposals flow to the back office after complete scrutiny. He maintains liaison with the back office/corporate office and will be responsible for all interventions on behalf of SUD in the RRB viz. grievance handling, visibility, sales material supply, etc.

PDF created with pdfFactory Pro trial version www.pdffactory.com

RRB BRANCH NODAL

• Acceptance of Consolidated Pay-in-slip • Banking of the DDs/Payorders/Cheques revceived alongwith each application at the Designated RRB Branch. Individual proposal wise entries are to be made and not bulk deposit entries. • Details entered in the Account • Daily at BOD/EOD Statement of Account is e-mailed to SUD Back Office, copy to Nodal Officer • . If the outward records are entered into the system while dispatch by nodal officer, can be retrieved at RO/ BO

• Inward

SUD BACK OFFICE

• Scrutiny • Direct Entry / Underwriting (Receipts based on Consolidated PIS) • Reconciliation • SMS to AMs/BEs • Collection File from RRB branch i.e. Bank Statement containing App. No. , Trans ID, Amount • Nodal Person for RRB - Reconcile the Statement • Agreement on the Format • Regular Reconciliation Process • Issuance • Dispatch

PDF created with pdfFactory Pro trial version www.pdffactory.com

Customer acquisition •RRB Bank Branch Managers/staff members will refer the leads to respective AM/BE (SUD Life) attached to his branch. This lead will then be passed on to SUD Life sales force. •On a daily basis a lead register will be maintained by the respective AM/BE attached to the RRB Bank. The register will have provision to record the follow up details of leads which could not be closed immediately. •The Register will be periodically inspected by the Nodal Office and the visiting Regional Office officials of SUD Life. 8

PDF created with pdfFactory Pro trial version www.pdffactory.com

Front-end sales •SUD Life AM/BE will then, in consultation of Manager/Staff, will call customer and make an appointment. •He will meet up with the customer and will explain the product as per the requirement of the customer. •He will be responsible for converting the lead into a sale. •AM/BE generates Sales illustration from Internet café or through the nodal officer. •Email addresses to be provided to all the SUD staff (BMs/AMs/BEs). Where AM/BE cannot access internet, he may contact the Nodal Officer through mobile/SMS requesting that the Sales Illustration may be transmitted to him through email or FAX. 9

PDF created with pdfFactory Pro trial version www.pdffactory.com

Proposal completion-1 •AM/BE will facilitate customer in filling up the proposal form. •He will verify the duly completed proposal form in front of customer and will get completed if any of the information is missing in the form. For verification the check list will be used, the format of the same has been given for reference. •He will provide all the information about SUD product desired by the prospect as well as obtain all the information regarding the prospect’s health, age, family and personal history, income, previous insurance and moral hazard aspects and record the same appropriately. 10

PDF created with pdfFactory Pro trial version www.pdffactory.com

Proposal Deposit Collection •He will then collect the proposal form along with the requisite documentation (duly authenticated/self attested by the proposer) from the customer as per the check list. He will complete the Confidential Report and put his signature on the same. •He will also collect the proposal deposit for the same in the form of Pay Order/Demand Draft, etc. payable at the RRB HQ location. •He will prepare a pay-in slip for the instrument (one for each proposal) and attach the same to the instrument. •He will then dispatch the respective proposals (and their requirements) along with the deposit instrument attached to the Nodal Officer along with a covering letter showing the list of proposals being forwarded. •He will maintain a dispatch register for all proposals forwarded to the Nodal Officer on a day-to-day basis. 11

PDF created with pdfFactory Pro trial version www.pdffactory.com

Check list for scrutiny of proposals (Format) Personal details Proposer / Life Assured details Name of the Proposer / Life Assured has been filled Date of Birth of Proposer /Life Assured has been filled Mailing Address & Permanent Address has been filled Annual Income – Self, Husband, Parents as applicable Occupational details with exact nature of duties Educational Qualification details In case of Non Residents – Country of Residence details Minor LA details (if applicable) Name of the minor LA has been filled DOB of the minor LA has been filled Relationship of the proposer with minor LA Nominee details Name of the nominee has been filled DOB of the nominee has been filled Address of the nominee has been filled Relationship with LA – Should be close blood relative Minor Nominee details Name of the appointee has been filled DOB of the appointee has been filled Relationship with Nominee Other Health related details Height in cms has been filled Weight in kgs has been filled Details of family history has been filled In case of death of parents cause of death and age at death has been filled

Checklist for scrutiny of proposals Yes / No / NA

Medical details and other important details has been filled Details of female LA has been filled wherever applicable Details of hobbies has been filled Plan details Details of base cover – SA and Term has been filled Details of rider – SA and Term has been filled Deposit details Cheque has been attached Amount is matching as per quotation Instrument No., Bank details and amount has been filled Declarations Signature of the proposer / LA is available Signature of the witness is available Place of proposal has been filled Date of proposal has been filled In case of person other than LA filling up the proposal, signature of that person is available In case of proposer signing in vernacular language, signature of the person making declaration is available In case proposer is illiterate, signature of the person making declaration is available Attachments Age proof is attached Identity proof is attached Income proof is attached Is attached age proof is standard or non standard Medical and hospital reports has been attached wherever applicable Confidential reports are signed and attached Ensure completeness of the checklist for faster processing

PDF created with pdfFactory Pro trial version www.pdffactory.com

12

Banking Transactions at Nodal Officer Level •A separate bank collection account for RRB proposal deposit collection will be opened with a designated branch of the RRB itself at its HQ location. •All the proposal forms, documents & the DD/Pay Orders will be dispatched to the SUD’s Nodal Officer at RRB HQ, where the Nodal Officer will segregate, fill up the requisite pay-in-slip & deposit it in the specified account. •A copy of the pay-in-slip acknowledgement (evidencing the deposit in the bank account) will be then attached to each proposal and this will be kept ready for dispatch to RO/BO of SUD Life. •The Nodal Officer will maintain proper inward of the proposals received from various AMs/BEs/RRB Branches, as well proper Outward of those dispatched to the Regional Office/Back Office in the format provided. •The Nodal Officer of SUD will prepare a consolidated list of all deposits made during the day. One copy is kept with himself for reconciliation and the second copy is sent to Regional Office/Back Office by email/fax. 13

PDF created with pdfFactory Pro trial version www.pdffactory.com

Mail room process: •Nodal Officer on a daily basis will inward all such proposals in a inward register. A format of inward register is given for reference. •Nodal Officer to dispatch the proposals to RRB HO/RO/BO of SUD Life on a daily basis. The format of the outward register is given for reference. •A forwarding letter listing the proposals dispatched will be prepared/ generated and will be attached to the bunch of all such proposals, which would be dispatched from the respective Nodal Officer to SUD Life RO/BO. •A copy of forwarding letter and the Proof Of Dispatch (POD) will be filed safely with respective Nodal Officer for future reference. • The format of inward and outward registers to be maintained is in the next slide 14

PDF created with pdfFactory Pro trial version www.pdffactory.com

Format of Inward / Outward Register to be maintained by SUD Nodal Officer at RRB HQ. Sr. No

Date Inwa rded

Pr op os al No

Proposer Name

Nodal Officer Code

Produ ct Name

Payment Frequency

Paym ent Mode

Premium Amount

Instrum ent No

Payin- slip No

15

PDF created with pdfFactory Pro trial version www.pdffactory.com

Doc um ent Typ e

Date of Out ward

Rem arks

Front-end process – work flow Lead Register on a daily basis of leads received, followed up and closed.

AM/BE takes lead from Bank Branch Manager Collects Premium deposit instrument and prepares Payin slip

Lead follow up, Generation of SI & Sales Presentation

yes

Nodal Officer Re scrutinizes proposal + requirements

Facilitate Medical Examination through TPA AM/BE scrutinize Proposal documents. Prepare checklist

Proposal from complete in all respect

B.E fills & signs the confidential reports. Puts agency code Dispatches to RRB HO to nodal officer on daily basis

Collection of Proposal Form & all requirements.

NO BE get Completed by Customer AM/BE Maintains an outward register of all proposals forwarded to the Nodal Officer Enter Application in inward register

Consolidates deposits & banks them in the designated RRB branch

PDF created with pdfFactory Pro trial version www.pdffactory.com

Dispatches Proposals to SUD Back office along with evidence of deposit by the bank.

Maintain outward register for dispatch

Follow-up with SUD Back Office Query & discrepancy resolution

Front End Process: Customer Acquisition, Front End Sale & Proposal Completion

AM/BE to take the leads from Bank Manager/ Staff of RRB

Follow up leads, make Sales Presentation & Generate SI, close the sale

Complete documentation

& collect all requirements inlcuding proposal deposit. Prepare checklist.

Facilitate Medical Examination through TPA

Send all the collected proposal papers on daily basis to the nodal officer at RRB HO

1. RRB Branch Level: Assistant Manager/Bancassurance Executive

PDF created with pdfFactory Pro trial version www.pdffactory.com

Front End Process: Proposal Deposit & Mail Room Process (at RRB HO)

Scrutinize Proposal forms and requirements again.

Enter the application in Register (Inward)

Consolidate all the deposits for the day & remit in SUD bank A/C on daily basis

Dispatch proposal to SUD Back office along with the pay in slip ack.

2. RRB HQ Level: SUD’s Nodal Officer

PDF created with pdfFactory Pro trial version www.pdffactory.com

Maintain Outward register for dispatch.

Copy of forwarding letter & POD to be filed for future reference

3. Back End Process – At the SUD Back Office Mail-room (Inward)

Receipt of proposal form

New Business Team

Proposal form scrutiny

New Business Team

Proposal form data entry

PDF created with pdfFactory Pro trial version www.pdffactory.com

New Business Team

Proposal entry checking

Under Writing /TPA Team

Underwriting

New Business Team

Issuance / Require ments

Mail-room (Outward)

Dispatch

Requirements from RRB PRE-REQUISITES (for RRBs) RRB HO –

Address (Contact Details) MICR IFSC RRB – Bank Branch Codes / Addresses (Excel Sheet) Transfer of amount on a daily basis to SUD. (Accounts Dept – to write to RRB Nodals & A/c. Dept of RRB) Bank/DD Charges: Two options can be considered : RRB Bank itself bearing the cost i.e. Charges/Fee Waiver RRB Bank submitting the statement of Charges to SUD In no case, the premium amount will be touched upon, so as to facilitate reconciliation.

PDF created with pdfFactory Pro trial version www.pdffactory.com

PDF created with pdfFactory Pro trial version www.pdffactory.com