Reported by: banking|Updated: November 27, 2017
Life insurance policies are issued in 5 days and claims are processed in 8 days. IDBI Federal Life insurance achieved this turnaround post digitalization. Company’s COO, Lalitha Bhatia says, slowly customers are picking up the idea of buying insurance online. She adds that company is using Data Analytics & chatbots to offer right product & efficient service to customers. Lalitha Bhatia explains that offering products which are simple & easy to understand is the key to improve online sales. Currently online sale of general insurance is much better than the life insurance. She asserts that attracting customers to the portal or website, and finding the reason for not buying a product online post visit is a challenge for insurance companies.