Canara HSBC Life Insurance has joined hands with artificial intelligence-based InsurTech company, Artivatic.AI to streamline and simplify their insurance processes.
Canara HSBC Life Insurance offers life insurance products to its customers through bank partners and other distribution channels, across the tier 1, 2 and 3 cities of the country. Partnering with Artivatic.AI will help Canara HSBC Life Insurance digitise the insurance processes like policy on-boarding, quotations, ease of payments, pre-insurance verification, and more. The processes will be backed up by Artivatic’s tech-integrated insurance platform.
Expressing content on the partnership, Sachin Dutta, Chief Operating Officer at Canara HSBC Life Insurance said, “We are very happy to partner with Artivatic.AI, which will aim at facilitating seamless distribution of life insurance products to our customer base. We expect Artivatic.AI’s unified sales and distribution platform to help in improving next-gen digital sales, operations, and consumer-led conversions. We are confident that the partnership will reap effective results for the company and for the end consumers, making insurance more accessible to them.”
Sharing his perspective on the ties, Layak Singh, Co-Founder, Artivatic.AI said, “The association is aligned with the insurance regulator’s broader vision of simplifying insurance for all, using technology as an enabler. The current partnership of Canara HSBC Life Insurance and Artivatic.AI is aimed at solving the long-standing insurance industry requirements related to underwriting, information, and data verification. Artivatic’s tech integration will help reduce operation costs and improve the turnaround time for insurance processes. The joint motive is to ultimately help consumers with a smoother on-boarding process thereby driving better customer experience and faster turnaround time.”
Artivatic.AI’s Mio is an all-integrated platform that uses Flutter technology. It is a unified core platform that can help companies reduce operations and maintenance costs, providing real-time data across IOS and Android.