How Bajaj Allianz Life Insurance transformed business to meet changing needs

Being a life insurance provider, Bajaj Allianz Life Insurance’s role has become even more essential after the outset of Covid-19 outbreak to help customers meet their financial goals. The company quickly started testing its Business Continuity Plan as the pandemic situation started worsening across the globe.

“By the time we finished checking the viability of work from home (WFH) for all our employees, lockdown became more real,” said Goutam Datta, Chief Information & Digital Officer at Bajaj Allianz Life Insurance. It became Datta’s priority to provide agile technology support to company’s business functions (which enables them to work from home); partners (which empowers them to interact with the firm on cloud-hosted digital platforms); and customer-facing digital platforms (to further enhance its capabilities).

“We were able to respond to digital demands by strengthening our central computing systems amongst other strategic interventions, while ensuring we maintain overall security all the time”, he added. The insurance provider didn’t want to tarnish the customer experience and was quickly able to respond to the current scenario. “At very short notice, our vendors also helped us with rental laptops and internet dongles. This enabled us to provide customised Work From Home kits for different functions especially customer-facing teams, and easy access of corporate applications so that our colleagues are able to provide uninterrupted customer support”, added Datta.

According to Datta, the customers can easily connect with the insurance firm for most of their policy services through digital touch points, such as WhatsApp, BOING (chatbot on the website), Life Assist mobile app and customer portal. Inbound call centre service is also available to customers through IVR. In the last 10 days, the insurance company has adapted to the demands of the current environment. For instance, most of the policy-related services were introduced on WhatsApp so that customers need not visit Bajaj Allianz Life Insurance branches.

Newer payment options have also been made available for all the sales channels to ensure customers stay invested in their policies. “Whenever there are difficulties in accessing customers, business productivity becomes a challenge. In cases like these, technology plays a critical role to bridge the gap between business and customers, and bring them on the same scale”, maintains Datta. He believes that the current situation will fuel a demand of being digital-first for both business and customers.

Source: The Economic Times