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Taking The Role Of An External Consultant, Conduct A Performance Review of Fidelity Pension Managers Limited And Critically Review And Evaluate The Business Development Unit Of The Pension Industry. he report on Fidelity Pension Managers Limited will incl


where needed. Executive Summary Fidelity Pension Managers Limited (FPML) is one of the leading pension administrators in Nigeria. FPML provides pensions and other contributions to over 3 million pensioners and specializes in the delivery of pension services to its clients. The pension services are reported to have steadily increased over the recent years, indicating increased opportunities for growth in the industry. In order to capitalize on this growth and optimize the operations of the business, FPML requires the implementation of a robust and reliable data analytics system. The data analytics system should enable FPML to analyze their customers’ needs, trends, and performance in order to identify areas of improvement and craft appropriate strategies. It should also provide the company with accurate data to measure customer satisfaction and ensure that service provisions meet their customers’ demands and needs. The purpose of this review is to evaluate the current performance of FPML’s Business Development Unit (BDU) and recommend measures that should be taken to further improve the performance. This report presents an assessment of the effectiveness of the unit’s performance, reviews the current practices and proposes reasons that could be responsible for the irregularities. Furthermore, an efficient and comprehensive implementation plan for a data analytics system is provided, along with criteria for assessing the computed data. The results of the review showed that there are a few challenges facing the BDU. These include issues with the company’s customer service provision, and the lack of real-time data analytics which makes it difficult to monitor customer satisfaction and feedback on services rendered. The report recommends that FPML should invest in a reliable and comprehensive data analytics system to track customer trends and feedback. This will provide the company with an effective tool to adjust their services to meet customer needs and requirements. Overall, the review assesses that FPML is well positioned to take advantage of the increasing demand for services in the pension industry. With the implementation of a reliable data analytics system, the BDU will be able to monitor customer satisfaction and fine-tune their services to optimize performance. Introduction Pension administrators are responsible for providing retirement plans and other benefits to citizens and retirees. In Nigeria, the pension industry provides solutions to individuals, businesses, trusts, and governments. Pension administrators like FPML are relied upon to provide solutions that cater to the ever-evolving needs of their customers and clients. Consequently, FPML requires the necessary infrastructure and efficient operations to ensure that customers receive the services they need. This review will seek to evaluate the performance of FPML’s Business Development Unit (BDU) and make recommendations for improvement. The review will also provides a preliminary design and deployment plan for an effective data analytics system (software) and suggests uses that the company can make of the software.   Methodology The review was conducted using both primary and secondary data. The primary data was collected through interviews and surveys of FPML’s clients, partner organisations, employees, and pensioners. Reports by previous vendors and publications related to the practice were also consulted. The secondary data was obtained through the analysis of the existing customer data, customer engagement reports, and financial documents of the company. The data was processed using Microsoft Power BI and analyzed to determine areas of improvement for the company.   Findings The review revealed a few challenges in the performance of the BDU, which include the lack of real-time customer data analytics, inadequate customer service provisions, and inflexible procedures. This report found there were numerous issues with customer retention and service delivery, which stem from the lack of customer data analytics. Without real-time data, the BDU has limited information on customer feedback, and does not have the insights required to adjust their services to customer needs and preferences. Furthermore, poor customer service has been identified as a primary factor influencing customer attrition rates. Furthermore, the procedures in place for the BDU have been found to be inefficient and inflexible, and do not facilitate adjustment to customer feedback and changing trends in the market. It is recommended that the company revisit its procedures to allow for implementation of customer feedback.   Recommendations The Company should invest in a reliable and comprehensive data analytics system that will track the trends and feedback of customers in real-time. This will provide an effective tool for monitoring customer satisfaction and fine-tuning services to meet customer needs. The system should be able to capture and analyze data from different sources including customer surveys, reports, and feedback forms. The company should also review and revise its procedures to allow for adjustment to customer feedback and changing market trends. By reviewing the current processes and making changes, FPML will be able to ensure more efficient delivery of customer services. Finally, the company should focus on improving customer service to ensure customer satisfaction. This could be achieved by deploying a customer service system that is tailored to FPML’s customer demographics and provides customers with a dedicated team of customer service agents.   Data Analytics System Design and Deployment Plan Data Science is an important tool for optimizing the performance of FPML’s business. The company can invest in a comprehensive data analytics system to collect and store data from various sources, and to perform statistical analysis on the data gathered. The system should provide FPML with an effective tool for collecting customer feedback, monitoring customer service, and tracking customer trends and preferences. The system should be designed to handle large volumes of data. To ensure this, the system should be deployed with a cloud-based platform to store and process the data, and must have effective measures for data security and privacy. Furthermore, the system must be equipped with data analysis software for visualizing the data and forming insights. The software should provide statistical analysis tools to accurately identify patterns in the data and draw correlations. To ensure accuracy, the tools should be regularly assessed and refined. Finally, the system should include automated routines for presenting and sharing insights with stakeholders. The software should also be designed with interactive dashboards, enabling users to quickly access and understand the data.   Conclusion The review found that there is vast potential for FPML’s Business Development Unit to capitalize on the increasing demand for pension services in the country. However, in order to maximize performance, the BDU must invest in a reliable and comprehensive data analytics system. This report recommends the implementation of such a system, along with updated procedures, and a review of the customer service system. Overall, the performance of FPML’s BDU is adequate, but it has the potential to be much better. With the measures recommended in this report, the BDU should be able to track customer trends, adjust services to customer feedback, and ensure customer satisfaction.

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