DIGITALISATION
ON THE JOURNEY TOWARDSA DIGITAL FUTURE
At SBI Life, we deploy best-in-class technologies to elevate service experience and improve operational efficiency, in line the changing industry landscape and evolving customer preferences for simplicity and convenience.
OUR ASPIRATION OF BECOMING A ‘TRULY DIGITAL’ ORGANISATION
We maintain scalable, efficient and effective core systems and IT architecture
We leverage AI cloud computing, bots, Machine Learning (ML), Robotic Process Automation (RPA) and analytics to create superior value
HIGHLIGHTS OF TECHNOLOGY INITIATIVES IMPLEMENTED DURING FY20
During FY20, we made significant progress in further enhancing the capacity and capabilities of our technology infrastructure, leading to improvements in the availability of systems and applications for the business.
Launched the new Policy Management System (PMS)
We completed the implementation of ‘Ingenium’, our new PMS, to provide services across both individual and group insurance policies. The platform has helped improve the quality of services offered, deliver superior experience to our customers and reduce the turnaround time to launch new products.
Deployed new Customer Relationship Management (CRM) system
We adopted ‘CRM Next’, a core system that provides end-to-end services to customers, leading to better services across all touchpoints. Overall, we have witnessed improvements in the way we engage with our customers.
Improved work flow system
This new system focuses specifically on providing seamless on-boarding and underwriting of new proposals. Besides providing greater customer convenience, it has also improved the efficiency of our new business and underwriting processes.
Mobile apps gained increased traction
An increasing number of users downloaded and used our mobile apps, M-Connect Life and Easy Access, to apply for new policies, receive premium alerts, raise queries and access other services. Over 98% of individual new proposals were sourced through the M-Connect Life app. Similarly, our sales intermediaries used the ‘Smart advisor plus’ app to provide pre- and post-sales support to their customers.
Strengthened API offering for partner on-boarding
We developed a bouquet of digital platforms, including mobility and Application Programme Interface (API) for quick integration and onboarding of partners in case of new business as well as renewal premiums.
In addition, we leverage several analytics platforms to drive strategic decision-making in our sales, audit, risk and operations functions as well as across various distribution channels.
OUR DIGITAL ECOSYSTEM
Customers
Chatbot RIA
- Resolved over 8 lakh queries
- 3 lakh+ unique users
Easy Access
- Over 2.7 lakhs active users
- One-stop platform for customers
Call centres
- Over 11 lakh queries resolved
YONO app
- 1,38,652 lives covered
- Provides insta policies
Employees
Shiksha Empowered
- An online tool to drive learning and development activities for employees and distributors
- Offers 220 courses, simulations and videos
- 76,000+ participants on this online platform
Saathi
- A daily activity planner for frontline sales employees
- Integrated with the lead management system
Chatbot ESHA (Employee Self Help Assistant)
- Employee queries resolved through automation
- 11,033 queries addressed during FY20
Distributors
M-Connect Life and Parivartan
- M-Connect Life is a tablet-based application and Parivartan is a desktop-based application
- Digitalises proposal filling form
- Over 17 lakh proposals filled in FY20
- Over 17 lakh active users
Saarthi SBI Life
- Provides a 360° overview of the distributors’ business performance and key trends
Smart Advisor Plus
- Provides advisors access to key business data
- Over 1 lakh active users