Life insurance coupled with health is one of the biggest opportunities in the insurance industry now, especially with India leading in cases of heart disease. Taking this opportunity, as well as keeping ‘digital first’ as the end, Aviva India designed a new heart care product. The product was launched across its digital platforms and online policy selling site Instalife.
With the digital technologies, Aviva India offered end-to-end online buying experience to its customers. The team successfully automated the new business process by integrating the platform with a new auto underwriting system based on artificial intelligence and machine learning. To ensure seamless flow of data, a real time integration was setup between the online platform, policy admin system, business workflow and auto underwriting tool.
The project enabled the business to gain competitive advantage with surge in business volume, reduced turnaround time in issuance of policy and enhanced customer experience thus enabling Aviva India to carve a niche market segment.