Ideathon – A Great Learning and Bajaj Allianz Collaboration

We are pleased to announce the collaboration of Bajaj Allianz Life Insurance with Great Learning for a series of Ideathons. The first Ideathon commenced in March 2018. It was held for Great Learning students across 5 locations. 36 teams, comprised of 180 students, participated in the competition, submitting detailed approach documents for 3 separate problem statements. 10 teams were selected to execute these projects, out of which the best performing teams will present their work live to BALIC senior management in July 2018.
Here is a sneak peek of the 3 projects done:
Project 1: Improve Customer Retention
Problem Statement: Predicting Customers’ Likelihood to Disengage, and Boost Retention with Life Goal Oriented Marketing Tools
Description: Ascertain profile of persistent and non-persistent customers (including reasons for their behavior) through a survey of life insurance policyholders across Tier 1, 2 and 3 towns, and compare them customers of BALIC to predict the factors that can flag potential customer retention issues.
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Project 2: Manage Customer Risk Using Analytics
Problem Statement: Reduce the incidence of claims by partnering with customers on improving lifestyle, through data sharing (only for Focus cities)
Description: Incentivizing customers (premium discounts, free check-ups etc) based on their lifestyle, through sharing of data related to health checkups from affiliated partners, affiliated healthcare apps (e.g. Fitbit), health insurance policy details, and participation in athletic events (e.g. participation certificate from 5k marathons etc).
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Project 3: Valuation of Trigger Based Interactions
Problem Statement: Measure revenue generation opportunities from trigger-based interactions
Description: Measure the value of various customer touchpoints (e.g. service call, switch, fund value, online chat, social media comments, address change etc.) in order to develop an effort estimate for such interactions, with possible incremental revenue generation opportunities.
The Great Learning Ideathon (in collaboration with Bajaj Allianz Life Insurance) is an excellent opportunity for our students to work on industry-grade analytics problems and whet their skills via these projects as their Capstones. The cutting-edge Analytics team at BALIC, on the other hand, is looking to expand its scope and reach into the burgeoning community of high-quality analytics professionals and identifying high-end talent while enabling students to have rewarding learning experiences.
Bajaj Allianz has entered into a MoU with Great Learning to conduct a series of Ideathons over the next few years. The next Ideathon is slated to happen in October 2018.