Auto-renewals via mandate

What went live?

Renewal biz for monthly payments customers of the platinum health plan (flagship /
core SKU)
Renewal biz for discount customers (those who were given a discount at the time of
1st purchase)

We started selling the ACKO health plans (platinum base, super topup and
standard) yearly contracts via the monthly payment mode starting from July 2023
These existing customers need to be renewed into their same plans this year
We gave 2 types of discounts soon after launching monthly payments
- (A) One-time 25% discount: these customers WILL NOT get the discount at renewals again
- (B) Lifelong 10% discount: these customers will always get the 10% discount on
  renewal premium

GWP scope for renewing platinum (base and super topup) monthly payments
customers this FY = NOP*ATS*RR
5536*21000*85% ~ 9.88 Cr 💰 💰

Renewal reminders are drip-scheduled from T-90 to T+30 via the systems
The customer level tracking sheet is shared with pre-sales to execute outbound calls
All teams are onboarded: presales ops, presales doctors, UW, contact centre,
product marketing, compliance
A new tableau view is added to monitor conversions.

We are aiming to do an auto-renewal next year/coming years by registering a longer
tenure mandate (2X max amount, 10 years) this time with the capability to debit higher
than the current amount, in case of renewal premium increase in the future. This is similar to auto LOB. (We have a mandate cancellation support internally for those who necessarily want to renew only for 1 year)

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