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Project Summary

The January Social Consulting team focused on the development of systems designed to reduce the high default rate we are currently experiencing with our payment plan loans, provided through the solar team. To do this we focused on the development of an automated CRM system which integrates with a texting service, and financial software to track payments and text customers when payments are due and received. We also focused on developing a means of risk profiling customers through surveying...

Cian Murphy
by Cian Murphy
1 Votes
Comments 1
Cian Murphy

Link to Original Experiment: https://projecteverest.crowdicity.com/post/828730   Lean Phase : Customer Segment   Assumption:  Creating a Risk Profiling method will reduce the current default rate by ensuring that loans are only provided to those who will be able to pay it back.  By interviewing existing customers with a mix between defaulting and non defaulting we will be able to gain metrics which will be used to create an algorithm to test if we can give out a payment...

Harrison Groth
by Harrison Groth
0 Votes
Comments 0
Harrison Groth

Lean Phase: Channel testing   Assumption: The implementation of a USSD system will improve the ability for customers to voice any issues with their payment plans and therefore improve our customer service.   Time Box: 2 weeks (or time to survey 30 customers)   Success Metric: Metric This experiment measures whether the implementation of a USSD system into our business will improve our ability to communicate with customers with concerns over their payments.   The...

Harrison Groth
by Harrison Groth
0 Votes
Comments 0
Harrison Groth

Lean Phase: Customer Segment Assumption: Creating a Risk Profiling method will reduce the current default rate by ensuring that loans are only provided to those who will be able to pay it back.  By interviewing existing customers with a mix between defaulting and non defaulting we will be able to gain metrics which will be used in our algorithm to test if we can give out a payment plan. We assume that there will be similarities in characteristics between defaulting customers which will...

Olivia Dressler-Smith
by Olivia Dressler-Smith
1 Votes
Comments 1
Olivia Dressler-Smith

Lean Phase : Customer Segment Assumption : With the defaulting rate of customers paying back on solar products on a repayment plan being at an alarmingly high 49%, we are testing the assumption that greater risk profiling at POS can mitigate this risk. To do this we are rolling out a risk profiling system which begins with a survey at the POS of repayment plans for solar products. Each answer of this survey adds or subtracts from that person’s ‘creditworthy’ total. If, after all the...

Rafael Branton
by Rafael Branton
2 Votes
Comments 1
Rafael Branton

Lean Phase: Customer Segment   Assumption: Creating a Risk Profiling method will reduce the current default rate by ensuring that loans are only provided to those who will be able to pay it back   Time Box: 2 weeks (or time to profile 30 defaulted customers)   Success Metric: Metric This experiment measures whether our current defaulting customers would have been rejected a loan had we risk profiled them with other new profiling survey.   We will measure this over 2...

Harrison Groth
by Harrison Groth
1 Votes
Comments 0
Harrison Groth

Lean Phase: Customer Segment   Assumption: Creating a Risk Profiling method will reduce the current default rate by ensuring that loans are only provided to those who will be able to pay it back   Time Box: 2 weeks (or time to profile 30 defaulted customers)   Success Metric: Metric This experiment measures whether our current defaulting customers would have been rejected a loan had we risk profiled them with our new profiling survey.   We will measure this over 2...

Harrison Groth
by Harrison Groth
0 Votes
Comments 0
Harrison Groth

LEAN PHASE Channels   ASSUMPTION The current default rate from solar product based loans is 49%. The intention of this experiment is to validate that price points are not the primary reason for customers defaulting. The assumption that SoCon will validate is: The lack of risk profiling has contributed to high default rates   TIME BOX 2 weeks (or time taken to survey 30 customers)   SUCCESS METRIC This experiment is designed to measure a potential reason for the...

Harrison Groth
by Harrison Groth
0 Votes
Comments 0
Harrison Groth

Lean Phase : Channel Testing Assumption : The current default rate from Solar product based loans is 49%. The intention of this experiment is to validate that the price points are not the primary reason for defaulting consumers. The assumption that SoCon will validate throughout this experiment is: The lack of communication with the customers has caused high default rates., In particular, we are testing the assumption that consistent reminders to pay loans and telling customers how...

Rafael Branton
by Rafael Branton
1 Votes
Comments 0
Rafael Branton
Idea thumbnail

Introduction: The proxy product the energy team has been using in July had features and problems that the July team was not satisfied with. In particular, the AC charger and the lead-acid battery of the GDLite were identified as areas that need to change; This is due to the risk of overcharging when charged through an AC connection. The desire to change from lead-acid to lithium-ion is driven by the short lifespan of lead-acid batteries as discussed in a previous post. The product should...

Conna Sheedy
by Conna Sheedy
1 Votes
Comments 2
Conna Sheedy
Work Update

The Energy project in Malawi has moved to a new phase where we have begun to test our business model using a proxy product and have sold several products. The sales we have made during this Winter period have allowed us to validate certain aspects of our customer segment practically and back up assumptions we had made due to observations and national statistics.   Currently, our customers are concentrated in the village of Nancholi. This is a semi-rural area in the hinterland of Blantyre....

Cian Murphy
by Cian Murphy
1 Votes
Comments 2
Cian Murphy

Electricity access in Malawi is very limited, meaning that few have access to basic lighting and charging facilities -           The current solutions employed by the rural Malawian population are expensive, ineffective and time consuming -           Average weekly and yearly expenditure determined from our surveys In Malawi 90% of the population is not connected to the electrical grid, and those who are experience regular cut outs due to a lack of sufficient power being generated...

Cian Murphy
by Cian Murphy
10 Votes
Comments 5
Cian Murphy
 

Cian Murphy

Dublin, Ireland

Joined this community on Jun 4, 2018

University or Company
Other

Degree or Work area
Engineering

Country you Trekked/are Trekking in
Malawi

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