Virtual assistants simplify insurance operations in Reliance General Insurance

In an exclusive video interview with Express Computer, Gaurav Chaudhri, CTO, Reliance General Insurance shares insights from the insurance tech world and how Reliance General Insurance is incorporating emerging tools like artificial intelligence and data analytics for various insurance operations.    

Chaudhri believes that data is the key to leverage customers. He states, “We use data for sales, internally profiling of customers, renewal of propensity and prevention of fraudulent activities. We use score cards for dealers, hospital score cards for insurance customers and various mechanisms for assessing the cases at analytics level, leveraging the data. Claims have been an integral part of our business. Various technological innovations have been made for claims.

Customers can also start their claim process through our app called ‘Selfie’, using chatbots, Whatsapp, etc. AI is helping strongly these days for claims where clients can converse with a voice bot or a conversationalist assistant. Real-time assessment can also be done using the Selfie app and claim journey can begin with an image analytics engine assessing the damage and instantly giving approval for the clearance of the claim.  Our insuretech unit is also constantly working to transform and leverage the latest technology internally and for our customers as well.”

Commenting on the cloud adoption and emergence of tools like MI and IoT, Chaudhri says that cloud adoption is an operational imperative. He adds, “We cannot operate in the BFSI without cloud. The adoption of cloud gives us many advantages. Cloud gives the edge to setup a data centre and it removes the bottlenecks in various migrating stack operations as we do not have to get into the equipment cycle. Cloud also helps in reduction of experimentation as it offers a lot of pilot software. I believe that the entire insurance industry would be using the cloud by the end of the decade.”

He points out that OCR has been there in any shape for the last decade. AI is going to transform every area of our business like claims, customer service etc. “These tools also require hard work because of the interaction of the existing systems. Internal touchpoints and customer touchpoints are getting benefited with these tools,” mentions Chaudhri.

Watch the full interaction:

Chatbotinsurance operationsReliance General InsuranceVirtual AssistantsVirtualisation
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