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Bajaj Allianz Life: Focusing on digital to improve customer experience

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Recognizing the immense value of a digital play, Bajaj Allianz has created a series of mobile apps for every function, says Subrat Mohanty, Head of Marketing, Bajaj Allianz Life Insurance

Digitization is rapidly changing the dynamics of Life Insurance industry in India in terms of delivering value to the customers. Insurers are using advanced technologies in order to simplify the customer experience, be it selling or connecting with a customer during a policy term. From a paper-dominated world we are shifting towards a digital world in which new means of communication and information-sharing make it possible to work independently of time and place.

Keeping pace with this trend, Bajaj Allianz Life Insurance has been continuously focusing on use of technology to improve the customer experience and reduce time for servicing the existing customers and new business/ renewal transactions. With an aim to provide a secure and location-independent insurance tool to its sales-force, we leveraged technology and developed INSTAB – a point of sale tool which addresses every Insurance requirement from SOURCING TO SERVICING (S2S). INSTAB is an android application equipped for the sales force to connect with the customer in a digital manner. The app enables faster policy purchase and caters to all insurance needs of a customer ultimately resulting into customer delight in terms of premium collection, payment & servicing acknowledgement which is done within few minutes thus reducing the overall TAT.

The company also realized, based on feedback from sales and operations teams, that the major reason for non-collection of complete documents against a new policy has been lack of knowledge and absence of a tool to find out the exact premium amount or documents to be submitted for underwriting. BALIC Genie was ideated to solve this issue. This app also works offline and guides the sales force on underwriting requirements on-the-go, thereby reducing time for both the customers and intermediaries.

It is equally important for a customer to initiate service or maintain details of his or her policy. Here again the Company thought of providing a technology solution for the customers as a self-servicing platform to avail our services without visiting branch. Hence, Life Assist application was developed. With the help of this app, customers can add policies, save transaction receipts, update profile, change password, track, manage and raise service requests for their policy using this application.

Over the years, technology has evolved significantly. In sync with this, an android-based application ‘I am BALIC’ was developed for all our employees. The app is conceptualized and designed in such a way that the employees will have access to his/her HR related services. The app has features like – checking attendance, applying for leaves, checking CEO communication, getting mediclaim and PF details etc. This is a one-stop solution for the employees to stay connected on the go.

– As told to Abhishek Rawal

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