Peerless Financial Products Distribution Ltd. [PFPDL], a wholly owned subsidiary of PGFI, distributes financial products viz. Life, General, Health Insurance of renowned ‘principals’ and Mutual Funds. It is also the Corporate Agent of Max Life for life insurance, Liberty General, Bajaj and Royal Sundaram for general insurance products. It distributes health insurance products of Manipal Cigna too. Doorstep service to customers in the remotest areas of India has made PFPDL a preferred choice. While securing human life, property, casualty and health it is transforming itself to adapt to new age digital business practices that are changing the rules of the game.
PFPDL is committed to the task of securing families who need better financial securities. With high customer engagement and unique doorstep service, PFPDL achieved a net profit (after tax) of approx. Rs. 1.15 Crores in the FY 2022-23.
Excellence in customer Interface is of prime importance. In the preceding year not less than 2000 camps were held to sharpen our skills in serving the customer better and helping to create wealth. Customer engagement talk points were defined to ensure customer comfort. Customer Service Camps improved reach and Renewal Service Camps spread hope and showed the way to renew lapsed policies. As a result, this year PFPDL reached the highest persistency level since inception. Max Life Insurance recognized the persistency level of PFPDL as one of the best benchmarks. Through Customer Delight campaigns, Peerless reached the doorsteps of policy holders to share the feeling of wellbeing. A well-developed Grievance Redressal Mechanism 'GRAHAAK SUNAI YEE' was rolled out which guarantees resolution of customer-related issues within specified TAT.
PFPDL now services its customers on a real-time basis with support from a unique CRM platform which ensures error-free time-bound transactions as well as home delivery. A new CRM-desk ticketing system has been introduced. It's three-tier approval mechanism has reduced TAT remarkably. A simpler Performance Appraisal system has been designed and all employee certifications are channelled through Peerless Excellence Academy (online platform for any knowledge enhancement related to business).
Timely sharpening and transformation of business practices are helping to generate more productivity. A new training delivery management system has been developed. It has features to fulfil the demand of any training requirements by raising training standards, while designing the training modules or expenditure thereon keeping ROI in mind.
New Zoho system is implemented to handle all employee related expenses and reimbursements of the same within TAT. TRANSFORMATION – is not only a word, but also the prompt and result oriented actions towards the better future of the customers keeping regulatory changes and customer satisfaction in mind.