DIGITALISATION
Staying ahead on digital curve

Digitalisation is integral to our strategy, given the evolving customer preferences for automation and innovative solutions. We are emerging as a truly digital organization by incorporating the best-in-class technologies, such as artificial intelligence (AI), machine learning, and data analytics, in order to enhance customer satisfaction.

FY22 began with the pandemic-induced lockdown, and the work-from-home (WFH) culture becoming the new normal. We were not only fully equipped to support the circumstances, but we also ensured the upgradation of our technology infrastructure, systems, and business applications.

Some of the improvements implemented during the year under review are:

ONLINE INSURANCE

Through our website, customers can directly buy our different insurance policies. This portal has eliminated the need to meet an insurance agent or distributor in person and requires less paperwork, leading to higher efficiency.

35K+

Online policies issued

IMPROVED TECHNOLOGY INFRASTRUCTURE

  • Proactively managing our Data Centre (DC)/Disaster Recovery (DR)/Wide Area Network (WAN) infrastructure to ensure smooth business operations.
  • Expansion of virtualisation environment resulted in power and space saving along with optimum use of computing and storage.
  • Intelligent rule-based workflows for multiple lines of business, greatly improved the efficiency of New Business and Underwriting Processes.
  • 270 tasks have been automated through Robotic Process Automation (RPA) to improve efficiency and efficacy.
  • We have a ready set of digital platform bouquet for quick integration and on-boarding of partners for new business and renewal premiums.
  • ‘CRM Next’ is the core system providing 360-degree view of the customer, leading to better service across all touchpoints.
  • Continuing the thrust from the previous year to ‘Go Digital’, more than 99% of the individual new proposals are sourced through our mobile application – mConnect.

SEAMLESS ONBOARDING FOR CUSTOMERS

Our virtual process offers a simple and intuitive onboarding experience to our customers that takes less than 10 minutes to complete. The system consists of online document submission, payment, and verification. We have also outlined a detailed E-Policy and a dashboard for monitoring the process.

The onboarding process is supported by

  • Simplified workflow process
  • Automation with AI
  • Data analytics
  • Real-time updates
  • Strong backend assurance

44%

Automated underwriting

16%

Reduction in non – medical
issuance TAT

<10 minutes

Customer on-boarding process

99%

Digital adoption

SELF-SERVICE OPTIONS

Through our website and mobile applications, we provided self-service options through conversational chatbots and intuitive IVR using a propensity model. Our self-service portal is device agnostic and simple to use. We also offered our customers the option to communicate with our experts through WhatsApp, which we also use to send reminders, offers and updates to them.

~1.5 mn

Queries handled by call centre/ IVR

5.5 lakh+

Individual protection policies sold digitally

1.9 mn+

Customers opted for WhatsApp service

~2.1 mn

Queries handled through bots

~7.3 lakh

Short URL (bitly) business generated

~2.5 lakh

Cross-sell leads generated

DIGILOCKER

We have integrated with DIGILOCKER platform, which is a one-stop solution to safeguard and track policy documents. Our customers can link their Aadhaar card and mobile numbers to their DIGILOCKER to get instantaneous access to their policy documents, anywhere, at any time.

Smart Care
(Customer engagement App)

We launched “Smart Care”, a progressive web application for end-to-end customer journey, with strong focus on enhancing transparency & customer engagement. This application has self-service options to fund switch, loan quotes, withdrawals and many more.