Star Union Dai-ichi Life’s

RRB: Referral Business

Procurement Process

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 RRB Process
RRB Process

Front-end process Back-end Process

Customer acquisition Mail room process

Front-end sales Scrutiny of proposals
Proposal completion Docketing
Proposal deposit collection Proposal entry
Mail room process Requirement management process
Issuance
Mail room process

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 •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
RRB BO •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.
Nodal Officer •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.
at RRB HO • 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
RRB BRANCH • Daily at BOD/EOD Statement of Account is e-mailed to SUD Back Office, copy to Nodal Officer
NODAL •. 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
SUD BACK •Nodal Person for RRB - Reconcile the Statement
•Agreement on the Format
OFFICE •Regular Reconciliation Process
• Issuance
• Dispatch

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 • 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
RRB BO • 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
Nodal Officer 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
at RRB HO 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.

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

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 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.

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 • 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
RRB BRANCH • 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
NODAL

• 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

SUD BACK • Nodal Person for RRB - Reconcile the Statement

• Agreement on the Format

OFFICE • Regular Reconciliation Process

• Issuance
• Dispatch

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 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.

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 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.
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 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.
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 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.
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 Check list for scrutiny of proposals (Format)
Checklist for scrutiny of proposals
Personal details Yes / No / NA
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

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 12

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 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.

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 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

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 Format of Inward / Outward Register to be
maintained by SUD Nodal Officer at RRB HQ.
Sr. Date Pr Proposer Nodal Produ Payment Paym Premium Instrum Pay- Doc Date Rem
No Inwa op Name Officer ct Frequency ent Amount ent No in- slip um of arks
rded os Code Name Mode No ent Out
al Typ ward
No e

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 Front-end process – work flow
Lead Register on Lead follow up,
AM/BE takes lead Collection of Facilitate Medical
a daily basis of Generation of SI &
from Bank Branch Proposal Form & Examination
leads received, Sales Presentation
Manager followed up and all requirements. through TPA
closed.

Collects Premium AM/BE scrutinize

deposit instrument yes Proposal
Proposal from
and prepares Pay- documents.
complete in all
in slip Prepare checklist
respect

B.E fills & signs

the confidential NO
reports. Puts
agency code BE get Completed
by Customer
Dispatches to AM/BE Maintains an
RRB HO to nodal outward register of all
officer on daily proposals forwarded
basis to the Nodal Officer
Follow-up with
Nodal Officer Consolidates Dispatches SUD Back Office
Enter Maintain
Re scrutinizes deposits & Proposals to SUD Query &
Application outward
proposal + banks them Back office along discrepancy
in inward register for
requirements in the with evidence of resolution
register dispatch
designated deposit by the
RRB branch bank.

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

Complete
AM/BE to take Follow up
documentation
the leads from leads, make
& collect all
Bank Manager/ Sales
requirements Send all the
Staff of RRB Presentation & Facilitate
inlcuding collected
Generate SI, Medical
proposal proposal
close the sale Examination papers on daily
deposit.
through TPA basis to the
Prepare
nodal officer at
checklist. RRB HO

1. RRB Branch Level: Assistant Manager/Bancassurance Executive

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

Scrutinize Consolidate
Proposal Enter the all the Dispatch
forms and application deposits for proposal
Maintain Copy of
requirements in Register the day & to SUD
Outward forwarding
again. (Inward) remit in Back letter &
register
SUD bank office POD to be
for
A/C on daily along with filed for
dispatch. future
basis the pay in
slip ack. reference

2. RRB HQ Level: SUD’s Nodal Officer

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 3. Back End Process – At the SUD Back Office
Mail-room
(Inward) New
Business
Team New
Business
Team New
Business
Team Under
Writing
/TPA Team New
Business
Receipt of
Proposal Team Mail-room
proposal
form form Proposal (Outward)
scrutiny form data Proposal
entry entry Under- Issuance
checking writing /
Require Dispatch
ments

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 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.

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