Digital Innovation Strategy
The program 'NEO' was an initiative undertaken for creating a new platform for Max Life's online customers to provide a seamless user experience, driven by new customer journeys. The first leg of the initiative was to conduct a comprehensive user research to agree on an omni channel customer journey map. This was one of the firsts in the insurance industry that led the company to come out with four distinct personas of insurance buyers: ‘Independent’, ‘Well Informed’, ‘Safety Seekers’, and ‘Support Seekers ’across multiple channels.
This was followed by a clutter-free UX design that broke the mold for Indian insurers providing the most meaningful and intuitive interfaces to digital natives and adopters. The architecture used granular APIs to keep the system scalable to cater to ever changing business demand. Finally, the program was delivered with a combination of agile and iterative development. To expedite the development cycles, DevOps platform was thought through to automate build, testing, and deployment processes.
As a result of this deployment, the overall policy issuance turnaround time reduced from 20 days to 10 days, the conversion of brand leads improved from 20 percent to 33 percent, and the revenue impact in first three months of launch saw a 65 percent increase in revenue from the channels.