On 11th Dec 2015, Mahindra Insurance Brokers Ltd (MIBL), India was appraised and rated at maturity level 3 of the People CMM® as a result 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.
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.
- MIBL is the first insurance broking organization in the world to have successfully implemented processes aligned to People CMM® maturity level 3.
- 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.
- MIBL has significantly improved the transparency and effectiveness of its internal communication channels.
- 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.
- MIBL is able to execute special business projects faster, and in a more controlled manner.
- 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).
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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 :-).
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