Aditya Birla Sun Life Insurance (ABSLI), the life insurance subsidiary of Aditya Birla Capital Limited (ABCL), has announced the launch of India's first instant policy issuance service on WhatsApp.
ABSLI has partnered with Gupshup, a leading conversational engagement platform, Meta-owned WhatsApp, world’s most popular communication channel and Karza Technologies, one of the largest data analytics, automation and decisioning solution providers to FIs to launch this service for insurance applicants.
Mr Kamlesh Rao, MD & CEO of Aditya Birla Sun Life Insurance said, “Today the customer is increasingly becoming digital and is available on platforms like WhatsApp. Hence, it was imperative for us to be where our customers are. Further, providing an end-to-end journey of life insurance products on WhatsApp would make the insurance buying process significantly simple, secure and seamless. It certainly would help towards increasing insurance penetration among the technology savvy generation."
ABSLI is India’s first life insurance company to provide an end-to-end journey (on-boarding to issuance) of life insurance products on WhatsApp.
Gupshup’s conversational engagement solutions along with Karza APIs fulfil KYC, and enable services such as quote generation, premium payment, and underwriting, entirely on WhatsApp on a real-time basis.
It also includes functionalities such as mobile number validation, and face and name match as an in-built security feature eliminating the possibility of any fraud during the journey.
Mr Ravi Sundararajan, COO at Gupshup said, “In a rapidly growing economy like India, where smartphone adoption has been massive, financial services providers must meet their customers wherever they are. We are thrilled to help ABSLI launch its first-of-its-kind end-to-end insurance application and issuance journey on WhatsApp, allowing Indians to access the financial services they need, with a personalised touch."
At present this service is offered to ABSLI’s existing customers, reported Mint.