Page 14 - Insurance Times April 2017 Special Issue on Newindia
P. 14
Private Life Insurance
ETMoney collaborates with HDFC Life to launch data- HDFC Life to bring out
led life policies first of its kind life insur-
ETMoney of Times Internet has edge of this said. "Young earners in ance chatbot in India
launched an exclusive data-led group India are significantly under insured.
term insurance plan in part- The term plan is designed HDFC Life has announced the launch
of India's first
nership with HDFC Life. It grounds up for this segment
life insurance
claims this is India's first and it acts as a simple,
chatbot in
term insurance plan that is paperless & cost effective
collaboration
based on the spend pattern way to start their insur- with Haptik.
of the users. ance journey.
The chatbot will act as a financial
"This plan will be offered as an exclu- Partnering with an Industry leader like guide to help users choose the most
sive benefit to more than 1 million HDFC Life substantiates our data-led, suitable life insurance plans and so-
ETMoney users and will provide cover- mobile-first approach and we are lutions.
age between Rs 25 lakhs to Rs 50 proud to work with HDFC Life to design This chatbot aims to assist the cus-
lakhs, calculated based on the user's this digital policy" said ETMoney COO tomers with insurance advice - rang-
spend pattern", officials having knowl- Mukesh Kalra. ing from health to tax planning and
retirement based on a simple 60-sec-
Canara HSBC Oriental Bank of Commerce launches ond quiz which enables it to com-
term insurance product pute their insurance quotient.
Calculated using different param-
Canara HSBC Oriental Bank of Com- have paid you will get it back." In this
merce Life Insurance Company plans to particular product, the upper limit for eters under each insurance cat-
launch a pure term in- sum assured is Rs 15 egory, the Insurance Quotient is an
surance product, with lakh. Moreover (there indicative score for each individual,
based on which, HDFC Life can rec-
return of premium, in is) no underwriting.
ommend the best suited insurance
April in the wake of the One just has to walk
plans for the user.
insurance regulator into the branch and
coming out with guide- give their particulars to "Many of us in our country, particu-
lines for the same. the branch manager. larly the millennial, are under in-
sured and need a simple platform to
Referring to IRDAI's November 2016 So, this product will be technology access relevant information about
guidelines on point of sale for life insur- driven, with online submission of par- insurance. We at HDFC Life have in-
ance products, Anuj Mathur, Chief Ex- ticulars, online (Aadhaar-based) au- vested heavily in the adoption of in-
ecutive Officer, Canara HSBC OBC Life, thentication and across the counter novative technology to offer insur-
said, "With term return of premium policy issuance. He added that no medi- ance solutions across customer seg-
(ROP), if nothing has happened (no in- cal (test) is required because the com- ments through multiple touch
sured event - death - occurs during the pany has that kind of risk appetite and points, "said Suresh Badami, CDO -
policy tenure), whatever premium you the (policy) volumes will be big too. HDFC Life.
14 The Insurance Times, April 2017
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