IN THE INTENSELY COMPETITIVE insurance sector, HDFC Life is banking heavily on its technology strengths. Parvez Mulla, COO, HDFC Life, shares with EC, on how his firm is using emerging technologies such as AI and RPA to its advantage
Can you take us through some of the recent technology initiatives that you have taken that has led to huge business impact?
The world is changing at an accelerated pace enabled by spate of technological disruptions. These disruptions have matured in their life cycle and now have scalable use cases for enterprises.
At HDFC Life, three years ago we saw the pace of these disruptions in evolving insurance market in China and started investing in technology initiatives. Our large scale tech enabled digital transformation gave us mobility platform across our sales journey. It digitised all our onboarding processes and made the journey smooth. We progressed from there to plug and play partner integration through APIs.
We then built our data platform, started our cloud journey and then invested in data lake. We created multiple cognitive engines within HDFC Life. Separate technology teams were focusing on different areas. Our emerging tech team, ADCAT, developed a spate of tech products which could be use to simplify journeys. Nudge engine, Recommendation engine, Dedupe, Customer 360 were developed to enable personalising customer journeys. The Data Labs team worked on predictive modelling across the value chain helping us to reduce our claim settlement time from weeks to days. Our fraud analytics model and customer propensity models are extensively used by us and our partners. Our online learning platform mLearn, Geo based sales solution like InstaGo and people app mConnect have helped us drive better people engagement and satisfaction. We have launched a threeclick PASA (pre- approved sum assured) journey which shortens the customer buying process and makes it seamless on partner systems. HDFC Life has believed in using technology, not as an end in itself, but to serve to smoothen the customer journey and simplify the process for the customer.
Denne historien er fra July 2019-utgaven av Express Computer.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 2019-utgaven av Express Computer.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
How Big Basket Is Leveraging Emerging Tech For Streamlining Delivery
A perfect combination of focused strategy, market knowhow, customer centricity, and most importantly, the right technology, has led to Big Basket's dominance in online grocery space
Technology raising the bar in higher education
From app-based learning to virtual classrooms and from AI to analytics, the higher education industry in India is driven by increasing technology adoption
Speaking about the EDGE
BY ESTABLISHING IT deployments for cloud-based services in edge data centres located in localised areas or communities, IT resources are effectively brought closer to end users and devices
REDEFINING DATA CENTRES
A look at how some of India's leading organisations are heralding transformational changes in their data centre operations
Need to define outcomes before making data centre software defined
THERE IS A NEED to clearly define the outcomes from adopting the software defined concept; a necessary mechanism to regularly review and revise the outcomes should also be built, says Manoj Gautam, VP - IT Infrastructure Service, Maruti Suzuki India
ICICI Bank: Unique distinction of a platinum rated green data centre
PROVIDING A MAJOR impetus to CII- Indian Green Building Council's (IGBC) efforts in greening of Indian data centres, ICICI Bank Data Centre in Hyderabad has gained the unique distinction of becoming India’s first Platinum rated project under IGBC Green Data Centre Rating System
Data centre rationalises computing resources at Titan Company
TITAN HOSTS A complex IT architecture. The data centre team has been trained by the OEMs to run the software-defined infrastructure, says Krishnan Venkateswaran, Chief Digital and Information Officer, Titan Company
Bajaj Housing Finance goes with 100% cloud architecture
BAJAJ HOUSING FINANCE has moved the entire enterprise IT ecosystem 100 per cent on public cloud, leading to flexible architecture for its business applications, data warehousing and analytics, which is high performing, rapidly scalable and secure
The top barriers financial institutions face in their race to digital transformation
WHY ARE DIGITAL business transformations failing to deliver value? Low double digit percentage of IT leaders have seen sustained performance improvement from transformation efforts, and are successful at sustaining change
Mercedes-Benz banks on digital initiatives for competitive advantage
MERCEDES BELIEVES THAT CONNECTED, Autonomous, Shared and Services, Electric (CASE)are the four concepts that will shape the future of driving. While design has been a fancy for Mercedes, tech and IT is as significant. And if touch controls seem too tedious to operate then the company now brings out gesture control
