Bharti AXA Life shows how an embedded digital strategy can pay off huge dividends

Latha Ayyar, Chief Operating Officer, Bharti AXA Life Insurance, shares how Bharti AXA Life has been adopting digital strategies to improve every function – from sales to customer servicing processes

Bharti AXA Life has digitalized sales, new business and customer servicing processes. This includes solutions to do simple product illustrations, need analysis on the mobile and tablets, lead management and distributor self-service that comes handy for sales personnel and makes business solicitation easy.
The e-application portal and sales portal enables both distributors and customers to buy policies online. These portals are integrated with Aadhar, CIBIL, Payment Gateways, Insurance Repository and backend processing engine to make the process simple and customers can buy policies with only few steps online. The customer portal provides access to customers to obtain all policy details, renew polices and also log most policy servicing request online.

Bharti AXA Life being a customer centric organization, the customer is kept at the center while designing any process. The e-app application and process was built keeping in mind the customer and sales staff. It provides superior sales and buying experience for the customer and sales staff alike.

With integration with Aadhar and CIBIL, the documentation is minimal. As the application is filled up electronically, the data entry accuracy is high which eliminates post issuance correction requirements. The policy kit can be completed electronically for the customers with insurance repository accounts. The entire process coupled with other sales tools brings in transparency which helps the customer to buy the right product.

Successful digital initiatives
E-application, sales tools such as distribution self service can be accessed from anywhere and anytime which has provided flexibility for sales force and removed backend dependency for information. This has helped in bringing down manual efforts such as data entry in back office thereby improving policy issuance time. The cumulative investment in all the initiatives would be approximately INR 6 to 7 crores.

The e-application can be termed as most successful as 100% of the proprietary channel business is logged in using the e-application portal.

Bharti AXA Life was one of the initial life companies in India to launch the online sales channel. Now we are about to launch marketing and persistency initiatives based on SFMC cloud. The claims portal where life insurance claim can be logged and tracked online is another initiative.