| | JUNE 20228IN MY OPINIONBy Ayan De, Chief Technology Officer, Exide Life InsuranceAyan is a technology strategist with over two decades of experience in the Insurance industry. He has specialties in technology-based process transformation, business process management, risk analysis and business continuity management.EASING THE ACCESS TO INSURANCE WITH TECHNOLOGICAL TRANSFORMATION he perception towards life insurance among the Indian customers changed significantly during the pandemic and companies quickly adapted to the challenging environment to initially sustain and build upon their core business operations. With an acceleration of digitization and the emergence of new technologies, the primarily traditional insurance industry witnessed an evolution which has not been witnessed ever before. This enabled a convenient access to insurance for individual customers as well as a seamless selling process for the insurers.Technology Changing the Insurance GameThe evolution of technology has disrupted the insurance industry. It paved way for better access to more affordable insurance products for the customers who could now browse through the portfolio from the comfort and safety of their homes. With this, insurers too moved to a smart and convenient way by digitalising every process of their business including sales, services and operations. This is enabling insurance providers to remain alert and competitive in today's marketplace and meet customers' demand through artificial intelligence, powered by mobility, live chat, predictive analytics, and others. The entire customer service and sales cycle is now at one's fingertip for opting for insurance to paying renewals and even to claiming the policy benefits.Streamlining Customer-servicingTo stay relevant to our existing customers and acquire new ones, we created digital platforms to carry out engagements atvarious levels from socializing products, financial need assessment, risk evaluation, payments and policy issuance. The digital transformation was a smooth and a seamless process as we had started TAyan De, Chief Technology Officer
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