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Tata AIG’s Tech-Powered Transformation: Revolutionising the Customer Experience in Insurance

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In a joint interview with Express Computer, Krishnan Badrinath, Head Technology, Innovation, Presales, and Automation, TATA AIG General Insurance and Malpadevi Maharana, Executive Vice President and Head of Operations and Customer Service, TATA AIG General Insurance,  delve into TATA AIG’s innovative approaches to enhancing the customer experience through technology. They discuss the evolution of the insurance industry’s customer-centric focus, TATA AIG’s strategic utilisation of technology to meet changing expectations, and the integration of IT infrastructure to support seamless omnichannel interactions. Additionally, they elaborate on data-driven insights, digital innovations, and AI implementations that streamline operations and enrich the overall customer journey. Lastly, they address challenges in maintaining a robust and secure technological foundation for customer service and detail proactive measures taken by the IT department to uphold system integrity and data security.

How has the approach of the insurance industry to customer experience evolved, and what role does it play in retaining customers at TATA AIG?
Malpadevi Maharana: The customer experience in the insurance industry has evolved from paper-driven processes to streamlined, paperless experiences. At Tata AIG, we leverage technology to provide faster, paperless experiences, enabling customers to manage their policies independently.

Krishnan Badrinath: The customer experience is a continuous process. We enable customers to self-service through various platforms like chatbots, customer apps, and website interfaces. Additionally, we’ve implemented generative AI for assisted services to further enhance the customer experience.

Can you discuss digital innovations or IT initiatives that have streamlined operations and enriched the overall customer journey at TATA AIG?

Malpadevi Maharana: TATA AIG implemented AI-guided self-inspection for private cars, enabling faster policy issuance. Our customer app offers value-added services like PUC validity checks, enhancing customer convenience.

Krishnan Badrinath: We continuously work on improving customer satisfaction through CSAT scores and NPS surveys. Generative AI for customer sentiment analysis and value-added services within our customer app are some initiatives in this regard.

How does TATA AIG leverage data and analytics within its IT framework to understand customer preferences and tailor insurance services accordingly?

Malpadevi Maharana: We use a state-of-the-art data lake to provide customers with a single-window view of their policies and transactions. This aids in cross-selling and upselling campaigns to ensure comprehensive coverage.

Krishnan Badrinath: Data analytics play a crucial role in understanding customer preferences. Our data lake facilitates personalised services and targeted campaigns to meet individual customer needs.

In embracing digital transformation, how has TATA AIG enhanced customer engagement and streamlined processes within the insurance sector?

Malpadevi Maharana: We focus on achieving 100 percent customer satisfaction and utilise generative AI for sentiment analysis. Value-added services within our customer app contribute to enhanced engagement.

Krishnan Badrinath: Our innovation team with deep tech capabilities has delivered disruptive solutions like NLP-based chatbots and AI-based self-inspection for private cars, enriching customer engagement and streamlining processes.

How does TATA AIG incorporate insurtech and artificial intelligence to provide a more intuitive and efficient customer experience, and what future technologies are being considered for staying at the forefront?

Malpadevi Maharana: We focus on leveraging AI and technology to simplify processes and enhance the customer experience. Our initiatives include NLP-based chatbots and generative AI for sentiment analysis.

Krishnan Badrinath: Our innovation team explores emerging technologies like generative AI to deliver future-proof solutions. We prioritise technologies that genuinely benefit our customers. 

Recognising the importance of seamless omnichannel experiences, how has TATA AIG approached the integration of IT infrastructure to support such interactions? Can you elaborate on benefits, challenges, and how they have shaped the company’s customer engagement strategies?

Malpadevi Maharana: We have developed a single-platform application that serves as an interface between various service platforms, ensuring seamless connectivity and enhancing customer experience.

Krishnan Badrinath: Our omnichannel approach allows us to understand and address customer queries efficiently. By using the same platform as our customers, agents, and contact center executives, we ensure a consistent and empathetic customer service experience.

In the realm of IT operations, what challenges has TATA AIG faced in establishing and maintaining a robust and secure technological foundation for customer service? How has the IT department proactively addressed these challenges to uphold system integrity and data security while meeting or exceeding customer expectations?

Malpadevi Maharana: Building an omnichannel service experience in a multi-channel sales scenario poses challenges. However, we target high-volume transactions, relate them to the product, and make them available across channels for self-service, ensuring data security through OTP verification and encryption.

Krishnan Badrinath: We implement robust monitoring tools like AppDynamics to maintain uptime and have stringent protocols for data security. Additionally, customer information is stored encrypted, and authentication methods like fingerprint and face scan enhance security while providing a seamless experience.

Both Badrinath and Maharana emphasise the critical role of technology in revolutionising the customer experience within the insurance sector. TATA AIG has been proactive in implementing innovative solutions such as AI-guided self-inspections, chatbots, and generative AI to empower customers and ensure seamless interactions across various touchpoints. By embracing technology, TATA AIG stays ahead in meeting evolving customer expectations and delivering exceptional service.

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