India’s Leading BFSI and FinTech Companies 2022

35 Experts’ View India’s Leading BFSI and FinTech Companies 2022 How would you summarize HDFC ERGO’s journey till now? What have been the major milestones in recent years? HDFC ERGO has been on a constant journey of transformation. In the beginning, our focus was on automation to manage scale. Subsequently, we began investing in improving efficiencies and making the process faster. Now, we are on a journey to digitalise all processes and emerge as a digital insurer that is focused on the customer experience and is operating at scale. Some of our technology capabilities, such as chat bots, IVR and Voice Bots, enable us to aid our customers in real- time. About 60% of our services are rendered through digital and self-service channels. We have processed more than 50,000 motor insurance claims and break-in inspection cases using AI so far. Tell us about your unique offerings and solutions. We are proud of our partnership with IIT Bombay (HEIITB), whereby we jointly operate an innovations lab that is focused on developing next generation solutions. These are digital solutions aimed at improving society. For example, we are working on a pilot project for needle-less injections! At HDFC ERGO, our goal is to emerge as a digital insurer focused on the customer experience. We continue to invest in technologies to make this happen. Our investments in cloudization and using Data for better decision making are examples of the same. We expect the majority of our technology platforms to migrate to the cloud in the next few years. How has the company leveraged digital technologies to meet its business objectives and enhance customer experience? Our aim is to replace almost every process with technology and automate it completely. We have introduced technologies such as chat bots, IVR and Voice Bot. 60% of our services are being availed digitally and out of this 60%, 33% arebeing availed through 5 of our bots till Jan 2022. The success of the bots led us to induct them as employees and we are the only company in the country to do so. We have also implemented AI solutions for email interactions with our customers, which has resulted in 51% of queries addressed and resolved over emails till Jan 2022 through Email Robotic Assistance (eRA)AI bot. Our innovation lab and technology teams are working with the business community to enable instant services. A classic example was during the lockdown when we launched our TeleClinic service free of charge, not only for our customers but society at large. Customers faced challenges as they did not want to expose themselves by stepping out of their homes. However, with our TeleClinic service they were able to set up an appointment with adoctor through our mobile app. We are in the process of introducing many such services for our customers to avail, and we want to be a responsible brand as it is not only about buying insurance but what we can do to make life easier for our customers. HDFC ERGO General Insurance Company Limited Ravi Vishwanath President - Accident and Health Dun & Bradstreet