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Great Eastern Life Assurance is based in Singapore and Malaysia with 29 branches. A branch office in Brunei,a subsidiary company in Indonesia and Representative offices in Hanoi and Ho Chi Ming city. also,it is the oldest and the most well-established life insurance group in Singapore and Malaysia with $59.5 BILLION in assets and around 4 MILLION policyholders. It has 3 successful distribution channels- a tied agency force, bancassurance and a financial advisory firm. In June 2004,Great Eastern Holdings became a substantially owned subsidiary of OCBC Bank, So basically,we offered four main insurance plan which target age between 10 to 80 in general. and they are Protect Myself & Family , Retirement Plan, Save & Invest for the Future and lastly, Protect my Employees plan. However,since we are providing a wide range of insurance plan.So each plan aim at different target age group. For eg,Protect Myself & Family aim 25-50. Plan For Retirement-65 & above Save & Invest for the Future- 18 & above. Lastly,Protect My Employees ,working adult like 23 to 45. *KNOCK KNOCK* Hi, I am Elise,the ERP consultant. Hi Nice to meet you. So you are here to propose your ERP system ? as there are many insurance company struggling with outdated core insurance systems. It is unable to the meet rapidly changing consumer needs and the latest technology trends which the ERP system allows a more centralized and integrated system. Okay,before that take a seat first. Oh okay,I have lots of questions regarding the ERP system. how can this ERP system help my insurance company? the main purpose of ERP system is to get more data,repeatability and analyzing processes. It determines the best processes and methods and then instantiating them. Without ERP system,the "*silo effect" will occur. So,the department will be compartmentalized w/o caring about the consequences of other department,making it decentralized. It supports end-to-end processes across multiple functional areas & geographical locations such as Great Eastern Malaysia. So it is very very cost-effective. Additionally,insurance companies need flexible efficient system for info processing as they work with a great numbers of clients deal with accountable documents including the ones for governmental entities, they have to go through regularly check out. So,next question I have is,our company profit has been declining so how can implementing the ERP system help with meeting the needs of my customers? As agents have to meet with lots of clients everyday right ? Yup. The ERP system is able to sort out customers' contact info and the services they have used to avoid confusion from agents and displeasure of customers. In conclusion ,without the use of ERP system, such situation will occur. Hi, I am Miss Eastern.I am your new agent. This is my name card. I have heard that you called up the Great Eastern life to enquire about existing policy. But first of all, I need you to change your personal info. So we are able to update your profile. (poor management, have to update profile manually) OH! Yesterday I saw an advertisement,it is about the "Single Lady" policy & you get a free Bali trip. IS IT TRUE?? Hmmmm,sorry ? *Stuttering* say it again? (unclear) Single lady policy and a free Bali trip. Single lady ah, you hold on ah. I check with the company website. *UNCLEAR... * closing the screen YES! Our company do provide this policy. You know,every single lady have to take care of the own expenses & you need to have some funds. The policy is able to paying client's expenses. & OF COURSE, your 5 days Bali trip. & free macbook! WOW,free mac book??!! & free software; microsoft ,imovie,itunes. OHHH,WOOOOW oh, hmmm.. do you have the form, I want to sign up. Before that ,the benefits are to provide you with retirement fee, with $12K per year! & fund 100% of your tax. $500 ????? 100% of your tax.Fund Fund Fund. So how much must we pay for each year ?? Only $250 per year :) I want to sign up now!! Do you have the form ?? no problem,no problem. Err, You can write down your personal information first and sign. Because ,I will write down the policy name when I reach the company. Thank you So this is how it will be if we do not have an improved integrated ERP system. The agent will give misleading information to the customer which will result in a loss of customer loyalty, satisfaction ,company's reputation. & cases of insurance fraud. With a well-intergrated ERP system,it will provide a better service for the customer. Thank you. hmm, I see. & also, other situation will occur something like this....... *STIRRING COFFEE* Hey, Elva! Pay Slip come already leh! Here is your pay slip! thank you. WHAT???? The company gives me the wrong amount again! SEE!! OMG!! Let me check mine!! *aggressively tearing**** EHH! MINE ALSO LEH! WHAT WRONG WITH THE MANAGEMENT ? EVERYTIME LIKE THAT ONE LEH! I think i need to tell the HR ! okay okay MISS SUI !*bang table* ...MISS SUI!!! Oh,yes what is it ? There is something you need to know. Yes? The past few months,I have been receiving lesser commission amount than what I should received . I think the management had made a mistake.Cause this happen to my colleague also! Oh is it ? Let me take a look at your pay slip. Let me check with the system. Eh,according to the system,it is the correct amount you should receive. NO~~~ cannot be.This is exactly the same amt I have received last month,I have definitely made more contract policy than last month. So,this is not the correct amount. okok, I will check with the Sales department and get back to you soon. W/0 the ERP system, it will not record down the right amount of money the agent should received Which will result in unhappy work environment and poor quality of work that will result in the agent jumping to another insurance company. Thank you for providing me with this detailed information and I will contact you soon. okay,here is my proposal. Thank you for your time. See you again!!

Video Details

Duration: 9 minutes and 14 seconds
Country: Singapore
Language: English
Genre: None
Producer: Doreen, Jingyi, Michael
Director: Elise
Views: 46
Posted by: jyghosts on Jan 12, 2014

ERM Project

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