A

PROJECT REPORT ON

COMMUNICATION ANALYSIS AND CAMPAIGNS & CALL CENTRE PROJECT

SUBMITTED TO

BALAJI INSTITUTE OF INTERNATIONAL BUSINESS (BIIB), PUNE

BY

GAURAV MANTALA

SRI BALAJI SOCIETY’S

BALAJI INSTITUTE OF INTERNATIONAL BUSINESS (BIIB)
S No – 5/2-7, TATHAWADE, WAKAD, PUNE - 411033

1
COMMUNICATION ANALYSIS AND CAMPAIGNS & CALL CENTRE PROJECT

A SUMMER PROJECT REPORT

Submitted By

GAURAV MANTALA

ROLL NO : IB1715346

In partial fulfillment of the requirement for the award of the Post Graduate Diploma in
Management

PGDM (MARKETING)

IN

Balaji Institute of International Business (BIIB)

S. No 55/2-7, Tathawade, Wakad, Pune - 411033

2
 DECLARATION

I, Gaurav Mantala, Student of BIIB – BALAJI INSTITUTE OF

INTERNATIONAL BUSINESS, Pune.

I, hereby declare that the report entitled “ COMMUNICAION

ANALYSIS AND CAMPAIGNS & CALL CENTRE
PROJECT IN BAJAJ FINSERV, PUNE” is based on my
learning. This is a bonafide record of the work done by me
during summer internship project work of PGDM program and
all contents and facts are prepared and presented by me without
any bias.

I also declare that it has not previously formed the basis for the
award to me for any degree/diploma associate ship, fellowship
or other similar title, of any Institute/Society.

GAURAV MANTALA
IB1715259

3
 Acknowledgement

It gives me a great pleasure to express my deep sense of

gratitude and indebtedness to BAJAJ FINSERV LTD. for
allowing me to undergo Summer Project Program in their
reputed organization.

I owe a great debt to my Mr. AJAY SHARMA (NATIONAL

MANAGER FOR CAMPAIGN AND CALL CENTRE) who
despite their pressing duties and responsibilities has shown a
genuine interest in providing necessary guidance regarding
concept of the project and rendered support at all stages of the
project.

I would like to convey my sincere thanks to Dr. Suresh

Chandra Padhy (Director - BIIB) and my mentor Prof. Anup
Shivneri who helped me and motivated me whenever required.

Last but not the least I would like to thank my institution and my
faculty members, without whom this project wouldn’t have been
a distant reality.

GAURAV MANTALA

4
College Certificate

This is to certify that Gaurav Mantala is a bonafide student of Balaji Institute

of
International Business, Pune has successfully completed his project titled
“Communication Analysis and campaign & Call centre projects with
BAJAJ FINSERV , Pune”, for partial fulfillment of PGDM (Marketing)
batch 2017-2019 from this institute.

Director Internal Mentor

Dr. Suresh Chandra Padhy Prof. Anup Shivneri

5
6
 INDEX

Chapter No. Topic Page

Number

1 Executive Summary 7

2 Contextual Background 8

3 Literature Review 23

4 Objectives and Scope 24

5 Research Methodology 25

6 Data Analysis & Interpretation 26

7 Findings 46

8 Recommendations 46

9 Conclusion 47

10 Bibliography 48

11 Annexure 49

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 Executive summary

Title of the Project: Communication analysis and campaign management & call centre
projects

Objective:

1. To increase effectiveness of Campaigns channel

2. To find new communication channel for business
3. To prevent maximum insurance business from cancellation
4. To increase effectiveness of chatbots on website.

Conclusion

 From the report it is evident that current communication channels are not much effective

 New ways of communicating is required to increase quality of leads.

 Website needs a effective BOT to be in trend and compete with competitors

 Insurance cancellation framework and its reasons for cancellation

 Need to make customer understand about softcopies.

 Lack of call centre for customers to address their issues

8
 Contextual background

2.1 Introduction:
India is undergoing rapid development. This means that there are millions of people who
dream of better home, business expansion and a better life. This opens several avenues of
potentially limitless growth in the respective sector. Bajaj Finserv lending will help grab this
opportunity by providing them loans with convenience.

A processing of a loan application is done through a series of checks by the lender which
includes income, repayment capacity, KYC, CIBIL score check and viability of the purpose check.
The awareness of the mandatory checks is so much that every borrower tries his best to meet
all the mandatory requirements before applying for a loan.

What is CIBIL?
CIBIL is an acronym for Credit Information Bureau of India Limited. This institutions manages
the information of millions of credit active Indians and help the banks and financial institutions
by providing them with credit score and reports of individuals to enable them to make
informed credit decisions. It is a central institution for all credit transactions of each and every
customer of its member institutions which comprises of banks, credit card companies, financial
institutions, housing finance companies and NBFCs. This institution was founded in 2001 and
plays a critical role in India’s financial system. Every member organization reports all credit
transactions of an individual to CIBIL on monthly basis, which is used to generate CIBIL
TransUnion score and CIBIL credit information report. This score and report in turn is utilized to
evaluate and approve loan applications of an individual. It not only helps the loan providing
institutions to manage their business in a better manner but also helps individuals to obtain
faster credit at competitive terms. Apart from CIBIL, there are three other information bureaus
in India namely, Equifax, Experian and High Mark but CIBIL has most of the data with most of
the financial institutions as members and hence, it is more popular and reliable source for the
financial institutions.

CIBIL TransUnion score: This is a three digit numerical assessment of an individual’s credit
history which reflects the financial and credit health of that person. This score is reflected from
the details provided in the Credit Information Report and can range anywhere between 300
and 900 points. The credit score is an indicator how likely the loan is to be repaid in time or
how credit card dues are to repaid based on previous repayment behavior of a person. This is
like a watch dog for all financial institutions in the country. In short, an individual taking his
credit capacity lightly and not repaying loans/ credit card dues can never escape the eyes of
CIBIL which will ensure that all future loans are rejected for this borrower.

9
2.1.1 Financial Sector

A category of stocks containing firms that provides financial services to commercial and retail
customer. This sector includes banks, investment funds, and insurance companies. Financial
companies perform best in low interest rate environments. A large portion of this sector
generates revenue from mortgages and loans, which gain value as interest rates drop.
Furthermore, when the business cycle is in an upswing, the financial sector benefits from
additional investment improved economic condition usually lead to more capital projects and
increased personal investing. New projects require financing, which usually leads to a large
number of loans.” Finance” is often defined simply as the management of money of “funds”
management. Modern finance, however, is a family of business activity that include the
organisation, marketing, and management of cash and money surrogates through a variety of
capital accounts, instruments, and markets created for transaction and trading assets,
liabilities, and risks. Finance is conceptualized, structured and regulated by a complex system of
power relation within potential economics across state and global market

2.1.2 Overview of the Industry

Non-bank financial companies (NBFC) are financial institutions that provide banking services
without meeting the legal definition of a bank, i.e. one that does not hold a banking license.
These institutions typically are restricted from taking deposits from the public depending on
the jurisdiction. Nonetheless, operations of these institutions are often still covered under a
country's banking regulations.
The specific banking products that can be offered by NBFCs depends on the jurisdiction, and
may include services such as:
 Loans and credit facilities,
 Savings products,
 Investments and
 Money transfer services

NBFCs have been playing a complementary role to the other financial institutions including
banks in meeting the funding needs of the economy. They help fill the gaps in the availability of
financial services that otherwise occur in the unbanked & the underserved areas. NBFCs
account for 12.3% assets of the total financial system.

10
NBFCs have been at the forefront of catering to the financial needs and creating livelihood
sources of the so-called unbankable masses in the rural and semi-urban areas. Through strong
linkage at the grassroots level, they have created a medium of reach and communication and
are very effectively serving this segment. Thus, NBFCs have all the key characteristics to enable
the government and regulator to achieve the mission of financial inclusion in the given time.

Categories of NBFC

NBFCs are categorised in the following categories

 Asset Finance Company

 Investment Company
 Loan Company
 Infrastructure Finance Company (IFC)
 Systemically Important Core Investment Company (CIC-ND-SI)
 Infrastructure Debt Fund (IDF-NBFC)
 Non-Banking Financial Company – Micro Finance Institution (NBFC-MFI)
 Non-Banking Financial Company – Factors (NBFC-Factors)

2.1.3 Contribution Of The Sector Towards GDP

NBFCs form an integral part of the Indian Financial System. They have been providing credit to
retail customers in the underserved and unbanked areas. Their ability to innovate products in
consonance to the needs of their clients is well established. They have played a key role in the
development of important sectors like Road Transport and Infrastructure which are the life
lines of our economy. This role has been well recognized and strongly advocated for, by all the
Expert Committees and Taskforces setup till date, by Govt. of India & RBI. It is an established
fact that many unbanked borrowers avail credit from NBFCs and over the years use their track
record with NBFCs and mature to become bankable borrowers. Thus, NBFCs act as conduits
and have furthered the Government’s agenda on Financial Inclusion.

For long, institutional investors have shown a higher preference for private sector banking
stocks in India. Out of the total FII holding of Rs 1,26,500 crore in Nifty 50 companies, 17% is
concentrated in just five private banks – ICICI Bank, Axis Bank, Yes Bank, IndusInd Bank and
HDFC Bank.

But nowadays nonbanking finance companies (NBFCs) are emerging. NBFCs have been
taking market share away from the banks across categories. According to various estimates,
the market share of NBFCs in total credit has increased to 13% in 2015 from 10% in 2005, while
that of Banks have fallen.

11
Within certain categories, such as housing finance, the increase in market share has been even
higher. According to a Crisil report, share of NBCFs in the housing finance industry has
increased from 26% to 38%, thus shrinking the share of banks from 74% to 62%.
The growth trajectory looks strong given that the penetration of NBFC credit in India is lower as
compared to the total credit penetration. Also, NBFC credit-to-GDP ratio in India when
compared with other emerging countries is much lower.

2.1.4 Competition Analysis

The NBFC sector is a big sector, which is growing swiftly and at present account for more than
12% of the country’s GDP. NBFC also contribute to the country’s economy by lending to
infrastructure projects.

There are many non-banking financial companies operating in the country, which offer financial
services. Following are the details of major competitors of Bajaj Finance.

1. RELIANCE CAPITAL

Reliance Capital, an Indian financial service company incorporated in the year 1986. The
company stands among the top financial service companies in the country.
Reliance Capital has a net worth of Rs. 15,390 crore (US$ 2.3 Billion) and total assets of Rs.
67,112 crore (US$ 10.2 Billion) as on March 31, 2016.

Asset Management, Commercial Finance, Broking and Distribution and Insurance are some of
the domains in which the company operates. Mutual Fund, Life Insurance, Mortgage, Business
Loan and Asset Construction are some of the services offered by the company.

2. L & T FINANCE

L & T Finance Limited is another strong player in this segment and is one of the top 10 non-
banking financial companies in India. Incorporated in the year 1994, L & T Finance Limited
offers a spectrum of financial services for various sectors like agriculture, industry, trade, etc.
Personal Vehicle Loans, Commercial Vehicle Loans, Rural Loans and Corporate Loans are some
of the products of the company. L & T Finance has offered financial services to over 10 lakh
people.

12
3. MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED (MMFSL)

Mahindra and Mahindra Financial Services Limited (MMFSL) was incorporated in the year 1991
and has over 1200 branches across the nation with the help of over 20,000 employees the
company offers various financial services to the SME sector and individuals. The company offer
vehicle loans, home loans, gold loans, corporate loans, working capital loans, etc.
The company has two subsidiaries, which are Mahindra Insurance Brokers Limited and
Mahindra Rural Housing Finance Limited. These subsidiaries offer insurance services and
housing financial services of premier quality.

4. SUNDARAM FINANCE

Sundaram Finance is a leading financial service company incorporated in the year 1954 has an
asset base of Rs. 23,915 Cr. and offer finance for the purchase of commercial vehicles and
passenger cars. The company offers services in different domains like investments, business
finance and retail business.

Mutual Funds, Mortgage Loans, Car Finance, Tractor Finance and Deposits are some of the
products of the company. The company has over 1 Lakh customers and more than 560
branches in the country.

5. SHRIRAM TRANSPORT FINANCE COMPANY LIMITED

Shriram Transport Finance Company Limited is a leading company in offering finance to

commercial vehicles. Founded in the year 1979, Shriram Transport Finance Company Limited
offer various financial services like mutual funds, general insurance, stock broking, etc.

The company provides finance for Heavy Duty Truck, Light Duty Truck, Passenger Vehicle, Farm
Equipment, Mini Truck, Construction Vehicle, etc.

6. LIC HOUSING FINANCE LIMITED

LIC Housing Finance Limited is among the leading housing finance companies in the country
and is one of the top non-banking financial companies in India. Founded in the year 1989, LIC
Housing Finance Limited provides loans for construction, repair and renovation of houses and

13
flats. The Authorized Capital of the Company is Rs.150 Crores and its paid up Capital is
Rs.100.99 Crores.

The Company possesses one of the industry's most extensive marketing network in India:
Registered and Corporate Office at Mumbai, 7 Regional Offices, 16 Back Offices and 209
marketing units across India. In addition the company has appointed over 10478 Intermediaries
to extend its marketing reach. 16 Back Offices spread across the country conduct the credit
appraisal and administrative functions.

Since its inception, the company has disbursed more than Rs 1.39 Lakh Crore in home loans.
Headquartered in Mumbai, LIC Housing Finance Limited has more than 230 marketing units and
offices in the country.

7. INDIABULLS HOUSING FINANCE LIMITED

Indiabulls Housing Finance Ltd. (IBHFL) is the 2nd largest private housing finance company in
India, regulated by the National Housing Bank (NHB). The company offer home loans and loans
against property at competitive rated and helps customers in possessing their dream home.
They have serviced more than 8 lakh customers and have cumulatively disbursed loans of over
Rs. 1 lac crore as of the last financial year. They have a workforce of over 4800 employees.

8. HDFC

HDFC is the leading non-banking financial company, which came into existence in the year
1977. HDFC is a leader in providing loans and finance for houses in the country.

HDFC has a strong presence in the country with over 300 outlets, which offer services to more
than 2,400 towns and cities. HDFC till now has given loans of Rs 2.5 Trillion and financed over
50 lakh cumulative units.
Home Loans, Plot Loans, Home Improvement Loans and Loan against property are some of the
products of the company. The company offers attractive interest rates on loans, which made it
the most popular house financing company.

14
 Company Profile

3.1 Vision

Bajaj Finserv has a vision to become a full-fledged financial services company and be the
financial partner to the Indian consumer and help him across his financial needs, whether for
finance, for investment management, for protection or for post-retirement support,
throughout his lifecycle.

Registered Address

BAJAJ FINANCE LTD.

4th Floor, Bajaj Finserv Corporate Office,
Off Pune-Ahmednagar Road,
Viman Nagar, Pune – 411 014 (Maharashtra)
Tel No. 020 -30405060 / 30405261 / 30405221

Composition of Board

Rahul Bajaj – Chairman

Nanu Pamnani – Vice Chairman and Independent Director

Sanjiv Bajaj – Vice Chairman

Rajeev Jain – Managing Director

Madhur Bajaj – Director

Rajiv Bajaj – Director

D.S Mehta – Independent Director

D.J Balaji Rao – Independent Director

Omkar Goswami – Independent Director

Dipak Poddar – Independent Director

Ranjan Sanghi – Independent Director

15
Rajendra Lakhotia – Independent Director

Gita Piramal – Independent Director

3.2 About Bajaj Finserv

Bajaj Finserv was formed in April 2007 as a result of its demerger from Bajaj Auto Limited as a
separate entity to focus purely on the financial services business of the group. The process of
demerger was completed in Feb 2008.

This demerger was not only to unlock the value in the high growth business areas of Auto,
Insurance, Finance sectors and Wind Power but to also to independently run these core
businesses and strengthen their competencies.

The wind power project, the stakes in the life and general insurance companies and consumer
finance along with their respective assets and liabilities got vested in Bajaj Finserv Limited. In
addition to that, cash and cash equivalent of INR 8,000 million (then market value) was also
transferred to the company.

The demerger has enabled investors to hold separate focused stocks and also facilitated
transparent benchmarking of the companies to their peers in their respective industries.

The constantly changing demographics and dynamics of the Indian economy, has led to
creation of various needs of the customer. The Indian customer now demands proper avenues
of channelizing their savings, financial protection and is also desirous of spending more on
valuable goods and services. All these wants need to be met by dynamic players in the financial
services space. Bajaj Finserv was formed specifically to cater to these needs. The company was
also formed to touch and improve the lives of a growing number of people in the country, and
in doing so, deliver superior corporate values to its shareholders.

The operating companies carry with them the Bajaj brand, which carries with it decades of
commitment to business ethics, integrity and highest standards of fiduciary responsibility.

Bajaj Finserv Limited is the holding company for the businesses dealing with financial services
of the Bajaj Group.

At Bajaj Finserv, employees operate with a simple philosophy of never settling for good, and
always aiming for great. Their wide and growing portfolio of products across lending, insurance
and wealth advisory bears testimony to this belief.

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 Financial Performance

Total Assets:

Total Assets is the sum of all assets, current and fixed. The asset turnover ratio measures the
ability of a company to use its assets to efficiently generate sales. The higher the ratio indicates
that the company is utilizing all its assets efficiently to generate sales. Companies with low
profit margins tend to have high asset turnover.

17
EBITDA PBT & PAT:

EBITDA is an acronym for Earnings Before Interest, Taxes, Depreciation, and Amortization. PBT
stands for Profit Before Tax, and PAT stands for Profit After Tax.

The graph visually shows how the net profit of the company stand reduced due to the impact
of Interest, Depreciation, and Tax.

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Net Sales:

Sales is the total amount of products or services sold by the company.

Bajaj Finserv has three subsidiary companies

 Bajaj Finance
 Bajaj Allianz
 Bajaj investments

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3.2.1 Bajaj Finance

Bajaj Finance Limited is the consumer finance lending arm of Bajaj Finserv Limited. It is the
most diversified non-bank in the country and the largest financier of consumer durables in
India making it one of the most profitable firms in the category. It is engaged in consumer
finance, SME finance and commercial lending and wealth management.

3.2.2 Bajaj Allianz

Bajaj Finserv Limited forayed into insurance through a joint venture with Allianz SE, Germany,
and formed Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance
Company Limited.

3.3.3 Bajaj Investments

Bajaj Finserv Wealth Management provides simple and effective long term financial planning
concepts and tools for assisting our customers in making informed decisions for their saving
and investment needs.

20
 About Bajaj Finance

Set up in 1987, Bajaj Finance Ltd (Bajaj Finance, formerly Bajaj Auto finance Ltd, rated ‘CRISIL
AA+/FAAA/Stable/CRISIL A1+’) is a subsidiary of Bajaj Finserv Ltd, the financial services arm of
the Bajaj group. Registered with Reserve Bank of India (RBI) as a systematically important
deposit taking non-banking finance company (NBFC-D-SI), Bajaj Finance initially provided loans
for two- and three- wheelers (manufactured by Bajaj Auto Ltd). Since then, Bajaj Finance has
entered other lending segments, and became a major player in the retail asset-financing
industry.

Today, Bajaj finance is the most diversified non-banking financial company in the country,
financing the widest set of outcomes. The cornerstone of their success lies in simply
understanding customer’s issues and pain points. Since, Bajaj understands these issues they
have developed wide range of products and services that best serve the customer.

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4.3 Centre Of Excellence

Data
Management

Campaign Centre Of Operation risk

Managemet Excellence management

Learning and
Development

4.3.1 Product Innovation

Bajaj Finance Ltd is constantly striving to enhance customer experience in the lending space
through technology. Bajaj is constantly working on various projects to be launched for
enhanced customer service. A few initiatives include:

 Mortgage flexi revamp – These are secured long term loans which were given on an
amount above Rs 5crs but now it is changed and any amount of loan can be
provided.
 Flexi Reloc (revolving line of credit) – These are short term unsecured loans and they
have an option of time extension of payment of loan amount to a certain pre-
determined limit.
 Telebinding – Telebinding gives us a unique capability of fulfilling loans / insurance
requirements to existing customers over a telephone call without requiring any
physical touch with the customer.

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 Doctor Card – Since Doctors were the highest in the reject list of bajaj finance, they
launched an exclusive product only for doctors. Free personalized cards are provided
to doctors with a pre-approved loan available.
 Fee income – Earlier thirty thousand rupees were charged for valuation of a property
for its future price or hidden charges, now it has been reduced to fifteen thousand
rupees plus the customer gets an EMI card.
 Genesis of relationship model – It is reference model, existing customer gives
reference of a new customer in return of some monetary benefits or other benefits.
 Foreclosure – If a customer decides to withdraw his loan request or wants to shift his
loan to another bank then we charge them with a fixed 4% of the whole amount as
foreclosure charges. It is an attempt to discourage customers to cancel or shift their
loan to other companies.
 Developer Finance and market model – Bajaj has a contract with A and A+ builders,
Bajaj gives loan to builders for construction and to individuals for taking home loan.
Builders get commission for recommending customers.
 Centre of Excellence for Analytics across Sales, Prospects, Pricing, Risk, Marketing,
Collections and Service
 ICA Channel – ICA Channel is the channel through which we use the customer
information base of CAs to acquire new customers and give commission to the CA
for referring the customers.
 SME Winback – This is an effort to retain existing customers by offering them new
attractive loans or top up loans, giving them attractive interest rates, schemes etc.
 Customer Loyalty – Customer loyalty program has the sole purpose of customer
retention by offering them attractive interest rates and quality service.
 Centralized D2C – Centralized D2C program has been formed to remove the agents
to grab new customers, this has reduced agent’s commission cost and also reduced
the risk that the agent may give the data to other companies. It also helped reduce
TAT.
 LOD Process Simplification –
 Flexi on card – A card is provided to customers on whom 10% of the loan amount is
provided on the card for the customer to use as he desires.
 Flexi Stimulant –
 Insurance Cancellation Process – If a customer takes a loan from Bajaj then it is
mandatory for him to buy insurance from Bajaj too. If a customer wishes to cancel it
within 15 days he gets full refund.

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 Literature Review

Sameera A. Abdul-Kader School of Computer Science and Electronic

Engineering/University of Essex Colchester/ UK Diyala University/ Diyala/ Iraq

Human-Computer Speech is gaining momentum as a technique of computer interaction. There has been
a recent upsurge in speech based search engines and assistants such as Siri, Google Chrome and
Cortana. Natural Language Processing (NLP) techniques such as NLTK for Python can be applied to
analyse speech, and intelligent responses can be found by designing an engine to provide appropriate
human like responses.

This type of programme is called a Chatbot, which is the focus of this study. This paper presents a
survey on the techniques used to design Chatbots and a comparison is made between different design
techniques from nine carefully selected papers according to the main methods adopted. These papers
are representative of the significant improvements in Chatbots in the last decade. The paper discusses
the similarities and differences in the techniques and examines in particular the Loebner prizewinning
Chatbots.

Dr. John Woods School of Computer Science and Electronic

Engineering/University of Essex Colchester/ UK

Human-Computer Speech interaction Speech recognition is one of the most natural and sought after
techniques in computer and networked device interaction has only recently become possible (last two
decades) with the advent of fast computing. Speech is a sophisticated signal and happens at different
levels: “semantic, linguistic, articulatory, and acoustic”

[3]. Speech is considered as the most natural among the aspects of human communication, owing to
copious information implicitly existing beyond the meaning of the spoken words. One of the speech
information extraction stages is converting speech to text via Automatic Speech Recognition (ASR) and
mining speech information

[4]; then, the resulting text can be treated to extract the meaning of the words.

24
 Objective & Scope of The Project

Management Objective:
1. To increase effectiveness of Campaigns.
2. To launch SME loan chatbot on website.

Research Objective

 To study how effective is lead generated from chatbot

 To find the response pattern and working on responses received from
campaigns.
 To find the new Communication channel to increase the business.
 To know reasons for insurance cancellations and ways to retain maximum
business in near future.

Scope of Study.

 To understand the responses and quality of responses generated through

chatbots.
 To understand why people want to cancel their insurance sold and issues
which they face due to call centre sale.

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 Research Methodology
Research methodology is a way to systematically solve the research problem. It
may be understood as science of studying how research is done scientifically. In it
we study various steps that are generally adopted by a researcher in studying his
research problem along with logic behind them.

 The interviews were face to face in order to attain the clear picture from
various places in Mumbai.

Research Design : Descriptive Research

Data Source : Primary Data/Secondary Data
Primary Data Collection : Survey Method
Primary Data Collection Instrument : Telephonic Questionnaire
Sampling methods and techniques : Random Sampling
Sample Size : 100 Respondents
Cities Covered : 6 Cities

26
Research Analysis of Regional sales manager about Chatbot(Primary Data)

Region of respondents:

Chennai Delhi Hyderabad Kolkata Mumbai Pune

21 21
16 17
16
14 16
15.75

10.5

5.25

Number of Respondents

Interpretation:

 Contacted different regional sales manager from top 6 business cities.

 Enquired about quality how effective is chatbot and how much they are
able to do business.
 Enquired about Quality of leads from Chatbots.

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Have seen the chatbot :

ChatBot seen?
Yes 82
No 18

Intrepretaion:

No Yes
No Yes

18%
18%

82%
82%

 Enquired whether RSM are aware about how chatbot looks.

 Are they aware about functioning of chatbots.

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How would you rate the quality of leads of chatbots.

Quality of Lead from

ChatBot
Good 18
Average 46
Poor 36

18%
36% Good
Average
Poor

46%

Interpretation:

 Enquired About how is the quality about the leads generated from
chatbots.
 Leads generated from chat bot are of average quality RSM are facing loads
of issues from chat bots.

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Monthly Business V/S Chatbots

Monthly Business
Total( IN CRORE) 168.95
From ChatBot(IN LAKH) 1727.5
Percentage share in total
Business 10.2%

Interpretation:

Only 10% business is done through Chatbots.

Leads Generated from chatbots are not that effective for business done by
RSM.

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Advice/Problem faced by RSM:

Suggestion
Not professional
Analysis Quality
Existing Customer
Add New Profile
Not serious Customer
Non interested
Deny in Requirement
Other location is also getting
added
Customer Education
Not getting ChatBot Lead

Interpretation:

 Leads generated from chatbots of low quality.

 Leads generated are not genuine as per RSM.
 People are not interested in taking loans

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 Response analysis through campaigns.(Secondary Research)

UNSECURED LOAN PROCESS FLOW

CIBIL Watch Lead

Existing D2C Offer

Yes NO

Existing Offer >=

d Customer
Requirement
BL DL
Yes NO

Amt. Req. Amt. Req. Amt. Info to be

up to 7 up to 15 Req. captured and PO
CIBIL Watch Lead & PO >15 lacs to be created
to be created with DL BL lacs lacs
same offer

Segment and price

Lead to be ITR CIBIL stamping
Mini DSS ,
transfer to Based thickness approx.
Field team Offer based Eligibility basis
offer 4 fields
1 Turnover Eligible leads to be
2 Net profit shared with field
3 NOB
team

For unsecured loans when we get a lead from CIBIL watch, the customer either has an existing
D2C offer or a new offer is created for him. If the customer has an existing offer and his
requirement is less than or equal to the existing offer then product offer is created with the
same offer and the details are shared with the lead to take further actions.

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If the customer’s requirement is more than the preapproved offer then the lead is transferred
to the field team in case of doctor loan and in case of business loan a new offer is created on
the following criteria.

If the loan amount required is less than 7 lacs then ITR based offer is provided.

If the loan amount is between 7 lacs to 15 lacs then an offer based on customer’s CIBIL
thickness is created.

And, if the loan amount is more than 15 lacs eligibility criteria is checked on the basis of 4
fields:

1) Turnover
2) Net profit
3) NOB

5.1 CENTRALIZED CALL CENTRE

An idea of Centralised Call Centre has been proposed, as soon as Bajaj gets the
notification/lead from CIBIL, a call is made to the customer with a proposition, and when he
accepts the offer, it will be notified to the field team so that the deal can be closed. As the
leads are live and the customer is interested in taking a loan it is easier to convince the
customer to take the loan. As he is an existing customer, minimum documentation is required
and amount is credited in his account within 48 working hours.

A team of four tele callers have been set up one for each Business & Professional loan, Loan
against property, Home loan and Doctor Loan. These tele callers will be trained in all the types
of loans s if the customer lead is about home loan but he wants to take a professional loan, the
tele caller will be able to give details about that too instead of asking the customer to wait till
the caller from professional loan team calls him back. This possesses a risk of losing the
customer to other bank/company.

5.1.1 My understanding of CIBIL

Credit Information Bureau Limited (CIBIL), have India’s biggest credit information data, every
month NBFC and BFSI, transfer/ send their customer information to CIBIL. CIBIL keep all the
information and when asked about the credit information of a person, CIBIL gives that
information.

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What is CIBIL score?

It’s a score card between 300 and 900 for the borrower. Any person near to 900 side is
considered good by the financing sector and they feel that the person has the ability to repay
his loan. Every institution have their own cut off list and they prefer person to have at least that
much score. A person on an average with CIBIL score more than 750 is consider good by almost
every lending firm.

How does CIBIL score a person?

Every credit information company has its own proprietary algorithm to calculate an individual's
credit score. CIBIL score is calculated based on the information in the "Accounts" and "Enquiry"
section of CIBIL Report.

Past performance: It has the maximum weightage i.e. 30%, it takes into account, how the
person has paid his last debts. Meaning, were they on time? Or any delay in payment.

Credit Type & Duration: Credit type includes, whether the loan was secured or unsecured and
duration include, for how many days he’s take the loan for. It contributes 25% to the score.

Credit Exposure: The total debt on the person which is still due and need to be paid and this
contributes another 25% to the score.

Other factors: Other factor includes credit utilization which means, the money he’s using from
the amount of loan he has been sanctioned. Defaulting which means, if he’s paying his debt on
time or there is any irregularity. Trade attributes which means, if he’s using his amount
carefully and in proper mix.

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5.2 CIBIL WATCH

We send our information every month to CIBIL. When an enquiry is sent to CIBIL from the bank
or the company for the credit information of the person, a notification is also sent to Bajaj
about the person moving to the bank/company with the amount required and the type of loan
he needs.

We use it for retention of the person as well as new business opportunity for us. Our field team
is notified for the same and they take action on the call. Since every month we receive around
30-40K notifications, it is not feasible for the field team to take care of all the cases.

5.2.1 Expected Outcome

The centralized call centre will have the following advantages:

 Increase the turnaround time. Customers can enquire about any type of loan in just one
call
 Streamline process with minimum documents requirement
 Preapproved loan stamping to eligible customers
 Filtered leads for sales team by
 eliminating non target profile and collateral
 Lower cost of acquisition
 Increase in customer convenience

5.2.2 Disposition Analysis

According to the analysis there is a huge opportunity lying in the not interested and not
contactable base of customers. As a large percentage of customers who are called are either
busy or not reachable at that moment. Many of these customers may be interested in the offer
but are not able avail it as they are unaware of it. In order to overcome such an issue a message
is also sent to the customers about the offer.

Another problem is faced when the customer is not eligible i.e. the customer is interested but
is not eligible due to various reasons some of them are listed below;

 Customer is from negative industry (there is a list of 40 industries which are listed as
negative, customers belonging to these industries are not funded).
 Customer has provided fraud financials.
 Customer does not have the required documents.

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5.2.3 Reasons for being not interested

Reason why a person can say no?

 No requirement
 Didn’t like the service
 Already paid the processing fee or any prior commitment
 Prefer something else than what is offered to him
 High interest rate
 Less amount offered
 High processing fee

5.2.4 Customer segmentation basis risk profile

To avail any loan, financials of 2-3 years are accessed and judgement is made with respect to
pre-defined policy criteria to decide a specific amount which can be funded to customers.

The loan amount is approved for a specific tenor, which needs to be repaid with interest under
a contract agreement between customers and financial institution

5.2.6 Customer segmentation

Following is the table that explains the existing CIBIL watch basket distribution:

Segmentation
Ultra HNI
Super HNI
HNI
Upper Super Affluent
Lower Super Affluent
Affluent
Mass Affluent
Upper Middle
Lower Middle
Mass
Total

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91% of the BL Watch Basket coincides with our target segment.

In BFL, on the basis of some financial and non-financial parameters, customers are segmented
into four categories:

SUPER WOW Best

WOW
CUSTOMER
Good
SEGMENTATION
WOW LITE

NORMAL
Normal

Quality of Customer Segment

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 5.3 CIBIL Watch Call Centre

Following is the process flow of the CIBIL watch call centre

ALL SME D2C

Customers

CIBIL Watch DND

Basket Scrub

DND Forward to Product Team

SFDC
Not Contactable Call Back 3 times

No Not Interested Re-Churn Strategy

Tele Callers
DNC Not Eligible
Queue

Yes Follow Up

Sale
Sales Queue

Step 3: The numbers which are in the DNC list are sent to the sales team directly. The leads
which are in the NDNC list are sent to the tele caller queue in the call centre.

Step 4: The callers call the customers and pitch them about the pre-approved offer available
for them. And remarks are added as per the customer response.

If the customer is not contactable then he is called back three times in a gap of 2 hours after
each call. If he is still not contactable then the lead is transferred to the sales team.

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If the customer is not interested in the offer available for him, then the details of the customer
is sent for re-churn where a better offer is prepared for him to retain the customer. If the
customer demands a follow-up then he is to be called back when the he has asked to.

Step 5: If the customer is interested then an appointment is fixed with the customer and the
details are shared with the sales team. The sales team goes and meets the customer and closes
the deal.

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 5.4 Business Loan

Business Loan
Not Contactable 2382
Not Eligible 1924
Not Interested 4567
DNC 88
Wrong Number 209
Rejected 337
Sale 618
Language Barrier 32
Follow up 87
Total 10244

Not Contactable Not Eligible Not Interested Wrong Number Sale Follow up DNC Rejected

1%
1%
2%
6%3% 23%

45% 19%

According to the observation, of the 10244 leads received 45% of the numbers were NI

23% of the customers were not contactable as the call was either not picked up or the
customer disconnected the call. 2% of the numbers were wrong, and 19% numbers were NE
numbers. 1 customer was interested and has asked for a follow up after a few days. 3% of the
customers were not eligible due to various reasons. Some of the most common reasons are

 The customer belongs to negative industry

 The customer does not have a shop ex licence
 The vintage of the company is less than 3 years
 Customer has fraud financial
 The customer does not have the required CIBIL score.

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5.5 Doctor Loan & Engineer Loan

Bajaj provides unsecured doctor loan from 5 lacs to 35 lacs. It is the highest loan amount
offered by any online loan provider in India

There is no requirement to provide any guarantors or collaterals to avail the doctor loan. The
tenor of doctor loan ranges from 12 months to 60 months.

For BAM and BHM doctors, maximum amount of loan available is 7 lacs and minimum amount
is 3 lacs. Furthermore, for these doctors loan is available only in Gujrat, Maharashtra and
Karnataka. Minimum of 8 years of experience is required for these doctors.

DL & EL
Not Contactable 1711
Not Eligible 2259
Not Interested 2467
Wrong Number 113
Sale 45
Follow up 82
DNC 152
Total 6829

Not Contactable Not Eligible Not Interested Wrong Number Sale Follow up DNC

2%1%
1%

2%
25%

36%

33%

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As per the observation In a total of 6829 leads 36% of them were NI these leads are sent to the
field team. From the remaining 33% leads were NC numbers, 25% of the customers were not
Eligible mainly because the customer didn’t pick up the call or the phone was switched off.
14% of the customers were not interested in taking the loan. 2% of the customers who were
Sale

5.5.1 Eligibility Criteria

Doctors have a specific set of eligibility requirements, they are listed as below

 The amount should be between 5 lacs to 35 lacs

 Required Experience: MD 2 years
MBBS 3 years
BDS 5 years
 For salaried doctors MD or MBBS degree is required.
 He should have his own clinic or house.
 Last 2 years form 16 with latest 3 pay slips.
 Education qualification certificates.

5.6 Chartered Accountant

Chartered accountants are offered loan in a similar fashion as doctors. Few conditions should
to be fulfilled in order to disburse the loan.

5.6.1 Eligibility criteria:

a) For Self-Employed:
5 years of experience is required after COP registration.
Customer should have his own house or own partnership firm.

b) For Salaried :
Bajaj has recently (1 month back) started funding salaried CA
He should have a minimum experience of 8 years
Salary should be more than 40K
Customer should have his own house

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 Insurance cancellation Framework

Reasons as Per telephonic Conversation for may:

Reasons Count

Documents not received 88

Not aware 36

Financial Issue 35

No need of Policy 40

Field 53

Not contactable 40

Total Cases 293

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 Insurance Cancellation Process

WE TRY AND REMAINING LAN

BFL SELLS CUSTOMER WHO
PREMIUM IS RETAIN IS CANCELLED
INSURANCE FOR BOUNCE EMI
CONVERTED IN MAXIMUM AND SRN IS
BAGIC AND BALIC COMES INTO
NO COST EMI CUSTOMER FROM RAISED FOR
PARTNER CO. CANCELLATION
CANCELLATION SAME.

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 Findings & Recommendation:

Findings: (Primary Research Chatbot leads)

 Primary Research is based on survey conducted with RSM of Bajaj
finserv from top 6 business regions.
 46% RSM Stated that Lead generated from Chatbots (SMS & Email) is
of average Quality and 36% Stated that it is of poor quality.
 Research showed that leads are not genuine and need good Flow of
conversation on bot to increase effectiveness and business.
 Right now Chatbot leads are able to make around 10% business in
these regions.

Findings: (Secondary Research response analysis)

 Out 10244 BL responses only 618(6%) respondents were marked as
sale.
 Out 6829 DL & EL responses only 152(3%) were marked as sale.
 Nearly 36% of responses were in Not interested Catogory.
 Nearly 25% of responses were not contactable.

Findings: (Insurance Cancellation)

 Business is done through call centre and customer don’t sign up
documents for insurance.
 Nearly 55% customer stated that they have not received any policy
document that’s why they have hold the policy EMI.
 Nearly 12% people stated that they are not aware about any such
policy they have asked for.
 Customer don’t trust on soft copies they want stamped hard copy as
document.
 Nearly 60% customer stated that service is a big issue as Bajaj Finserv
don’t have a inbound customer service centre to address customer
issues.

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Recommendation & suggestion:

 Data need to be increased because all the campaigns are run repeatedly on
same data packets.
 Flow of conversation & opening scripts on sms chatbot need working to
receive genuine leads.
 Communication channel used is old need to find new communication to
increase click through and open rate.
 Website Bot should be designed keeping all flaws in mind so that the
quality of lead should be workable.
 Data should be sort state wise and then run campaign to solve region
problem.
 Insurance customer need call centre to address issues which will help in
retaining business and less burden of cancellation.
 Founded and recommended paytm as payment option for customers who
missed EMI which helped in collecting many insurance payments.
 Keep track of document delivery and get confirmation from customer if
they have received it.
 Suggested new channel like push notification by improving app (ex. Kotak
811) , Whats App for Business and messenger bots.

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 Key Learnings

 Campaign Management & data is key to make business large.

 Every customer is important one customer can give you many type of
business.
 AI and Machine Learning is future of doing business.
 Achieving your business targets is mantra for being successful in industry.
 Always be proactive.
 Always keep a track of competitors and come up better options to grow
business.

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 Bibliography&Refernces

www.bajajfinserv.in
www.ibef.org
https://www.statista.com/statistics/235840/value-of-the-finance-industry-in-
india
https://www.enil.co.in
www.motilaloswalgroup.com/analystvideo/pdf/49417300bajaj-20170724-
MPSL-supg050.pdf
www.moneycontrol.com

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 Annexure

Questionare: (suggested by mentor)

Q1: Which region you belong to?

Q2: Have you seen the chatbot?
>yes > No
Q3 : How would you say is quality of lead from chatbot?
>Good>Average>Poor
Q4: How much business you are able to generate from chatbot leads?
Q5: Issues faced from chatbot Leads?
Q6: Any suggestions to improve it.

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