Mahindra Insurance Brokers Ltd (MIBL) Appraised & Rated at Maturity Level 3 of the People CMM®

On 11th Dec 2015,  Mahindra Insurance Brokers  Ltd (MIBL), India was appraised and rated at maturity level 3 of the People CMM® as a MIBL Logoresult of an appraisal conducted using SCAMPISM-A. MIBL (started in 2004)  is empanelled with various public and private insurance companies to offer best insurance solutions to customers covering Life and Non-Life areas. In addition to direct broking, MIBL also provides reinsurance broking.

The result of this SCAMPISM-A is available at the CMMI Institute site containing Published Appraisal Results (PARS).

This result has also been extensively reported in the media; two such media articles are linked here and here.

This appraisal and rating was a milestone in an ongoing journey at Mahindra Finance group of companies that was initiated around two years ago by Mr. Vinay Deshpande, their CPO (Chief People Officer).

The keys objectives of adopting the People CMM®  were to:

  • Build an Engaging, Collaborative & High-Trust Culture
  • Build a Future-Ready Organization
  • Ensure Excellence in HR Processes
  • Align HR Strategy with Business Goals

Here are a few highlights of MIBL, their people related processes, changes implemented during the People CMM® journey, benefits accrued, and future plans.

  1. MIBL is the first insurance broking organization in the world to have successfully implemented processes aligned to People CMM® maturity level 3.
  2. MIBL has, in the last two years been able to hire over 70% through employee referral, saving considerable hiring costs. This also reconfirms that employees are acting as ‘promoters’ of the organization in the job market.
  3. MIBL has significantly improved the transparency and effectiveness of its internal communication channels.
  4. During the People CMM® journey, MIBL has implemented a robust competency framework that is used for hiring, individual development, internal job postings, training, career development, and succession planning.
  5. MIBL is able to execute special business projects faster, and in a more controlled manner.
  6. MIBL is planning to implement higher maturity practices of the People CMM® in future.

Other companies of the Mahindra Group in the Finance Sector have also embraced the People CMM® framework.

We hope to share more experiences from MIBL soon on this website.

The appraisal team was led by Rajesh Naik (CMMI Institute Partner: QAI India).

Please feel free to share your views, experiences, and queries, using the “comments” feature available. You may also forward the link to this post to your friends, colleagues, and anyone else who may be interested.

Other related posts uploaded on the same blog:

Notes:

Nothing Official About It! – The views presented above are in no manner reflective of the official views of any organization, community, group, institute, or association. They may not even be the official views of the author :-).

SM-SCAMPI is a service mark of Carnegie Mellon University.


I am Rajesh Naik. I am an author, management consultant and trainer, helping IT and other tech companies improve their processes and performance. I also specialize in CMMI® (DEV and SVC), People CMM® and Balanced Scorecard. I am a CMMI Institute certified/ authorized Instructor and Lead Appraiser for CMMI® and People CMM®. I am available on LinkedIn and I will be glad to accept your invite. For more information please click here. To get email alerts for new posts, click here to subscribe.

19 thoughts on “Mahindra Insurance Brokers Ltd (MIBL) Appraised & Rated at Maturity Level 3 of the People CMM®”

  1. It’s an awesome feeling to see an organization moving forward in excellence journey and being part of it. It was indeed an aspiring milestone and our MIBL team is excited to be the “World’s First in Insurance sector” to achieve PCMM maturity level 3 and set an international benchmark.

    As a Project Manager, I can see the clear alignment of HR strategies with business goals by which we are able to reap many more business benefits. It has improved our employee engagement level and also reduced the attrition levels in last one year and now we are more committed to employee engagement and development.

    Salute to our relentless team effort and management support. MIBL has a well knitted collaborative culture which I can say is a “secret weapon” to conquer any milestone.

    We will continue to bring more success stories in coming future. Road ahead, i.e. the next maturity level 4 & 5 seems to be more exciting and valuable to organization.

    Regards,
    Ashwini Kumar

    1. Hi Ashwini,

      Congrats to you, your colleagues in HR, Nikhil Save and everyone who contributed to the transformation journey.

      Wish you the best in the next leg of your improvement journey.

      Cheers
      Rajesh

  2. Awesome achievement. This is a demonstration of commitment and action around achieving HR/people practice excellence.
    Congratulations to the MIBL team and all the very best for the next milestones.

    Cheers
    Prakash

  3. We are extremely honored to have achieved People-CMM® Maturity Level 3 for Human Capital Development. Our focus on best practices has been driven by our desire and commitment to deliver a best-in-class service experience to our valued customers. We believe a happy organization enables us to have happy customers; as our people are inspired and empowered to provide superior customer service and deliver at their best.

    In recent years, with growing business and cut-throat market competition, there were major human capital challenges in front of us and adopting PCMM was an organisation-strengthening strategy of MIBL. It helped further enhance our internal processes, develop critical competencies of employees, and create high-performance and high-maturity culture. We are happy to see that best-in class practices are well implemented and institutionalized in MIBL. We are ready to embark upon our next level journey to reach higher Maturity levels, and reap more business benefits out of it, all in the interest of our customers.

  4. Congratulations to the entire MIBL team on this great achievement of being the first company in the Insurance broking domain to achieve PCMM ML3. We are proud to be associated with you ..

  5. Nice to know that Mahindra Insurance Brokers Ltd has been rated at Level 3 of People Capability Maturity Model.

    PCMM is indeed a very effective quality system for HR and HRD processes.

    I wish let the tribe of PCMM grow.

  6. The leadership of the organization has a vision of creating a universe that will be built on Ethos, Quality driven processes, a feeling to compete with the best and be a leader and to have an atmosphere that would bring a spirit of camaraderie, harmony and satisfy your self esteem. The organization started its journey, we adopted ISO, later based on Deming Framework MIBL started it’s The Mahindra Way journey, Total Quality Management.

    So by now, MIBL team was sensitized about its intent of creating organization that is future ready. The organization has managed to keep the employee spirits high which is reflected through the engagement scores. Seeds of Innovation were being sowed to enable the organization to adapt to the change and be frugal and agile.

    While on our journey, Business environment was becoming more and more challenging, at the same time the Insurance space was indicating that as a Broker we would have a bigger role to play, to bring Insurer and Customer together. MIBL had a larger role since we have rural reach, to educate and convince the rural customer of the need of insurance in the time of exigency.

    We were on cusp ….. for our next growth trajectory, we were looking at a medium that would provide us the escape velocity to put us in the next orbit. We had done average in keeping pace with the time so far in building the foundation for organization. We had to think differently, more structurally to define key processes, develop capabilities for future and to review and be ready for the change that would be evident ensuring that all of this would still keep our employees motivated and engaged. PCMM as a model, we thought, would give us that strength and robustness to endure the next journey.

    MIBL today is able to get the value of PCMM framework to understand the capability building aligned with the future requirement, and tracking and review of all it projects. Everyone in the organization understands what are individuals responsibility and span of control. Employees are able to appreciate all the process whether it is Operational, Accounting or HR. This helps their efficiency leading to more engagement. MIBL has understood the benefits of the framework and are gearing up for higher level of maturity.

    We started our journey-PCMM in July 2014 and today MIBL after one and a half years has cleared PCMM Level 3 assessment.

  7. “MIBL is the Worlds First Company in Insurance sector to achieve PCMM certification” is such a great honour for all of us & we being in the first batch of it make us all the more happy & proud !!!!!!!!!!!! Extremely Happy & Proud to be associated with this wonderful & full of learning Journey of PCMM 🙂 Kudos to our team !!!!!!!!

  8. Proud to be a part of PCMM Level 3 journey for Mahindra Insurance Brokers Ltd .. Kudos to our team members who have put in efforts to make this happen. Thanks to the management who have always supported us & been as a backborne is executing it smoothly… Wishing success for the next PCMM level journey :):):)

  9. Huge likes for the MIBL achievement on People CMM ML 3.

    Loads of wishes and best wishes as MIBL embarks on its next !

    Congratulations to all associated with making this come true.

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