Page 39 - Insurance Times March 2021
P. 39

INSURANCE




         DISRUPTION IN




         2020: THE BIG





         RESET















         P        ockets of digital transformation were happening  culminating in picking up a Celent Model Insurer Award for


                  across the insurance industry pre-2020, but they
                                                              its end-to-end digital and mobile app-based pre-policy
                  were isolated and not synched across insurers'
                                                              medical check-up process.
                  operations. The events of this year have
         concentrated years of digital evolution, this concentration Touchless Tech
         of pace has been reduced to weeks and exposed the digital  As COVID-19 forced insurers' offices to close, they had to
         leaders and laggards across the industry.            quickly reimagine their end-to-end operations to adapt at
                                                              pace to a virtual, touchless world. Bajaj Allianz directed
         The trends identified in Genpact's Insurance in the Age of  customers to its existing digital channels. It had already
         Instinct research have accelerated as insurers had to to  integrated its AI-powered bot with Alexa and Google
         deploy the right tools in the right places and connect them  Assistant so its customers could have a seamless service by
         end-to-end. Bajaj Allianz, one of India's largest private  using voice rather than text. The use of its mobile app,
         insurers with offices in over 1,100 towns and cities, had a  where customers can complete all their requests, has
         digital head start compared to many insurers across the  soared, with over one million downloads this year.
         globe. Its digital strategy and solutions already deployed
         meant it could continue to offer seamless customer service,  When making a motor insurance claim, customers can now
                                                              submit a photo of the damage via a mobile app and using a
                               About the author               combination of AI and machine vision, receive a claim
                                                              assessment within 20 minutes. If they agree, the funds are
                         Dipu KV                              transferred straight into their account.
                         President - Operations,
                         Communities,                         This touchless seamless experience continues when
                         CX at Bajaj Allianz                  customers visit branches, now there are no handshakes

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