Pankaj Gupta, Chief Technology Officer, Bharti AXA Life Insurance describes the applications that are empowering digital transformation:
Ravi Lalwani: What is the size of the IT team? How are you improving the alignment between business and IT?
Pankaj Gupta: In FY 22, our digital and IT team comprised around 65 employees. At Bharti AXA Life, we have undertaken several initiatives to improve the alignment between businesses and IT. These include building an over-arching digital and technology strategy that aligns with business KPIs (revenue, productivity, cost and customer experience), monthly governance via multiple councils, prioritization of transformation progress, adoption of agile methodology with incremental/regular feedback, and finally, building a cross functional setup for large end-to-end programs on product launches and operational excellence. We have also adopted a Closed User Group (CUG) approach with over 200 field sales users who have been actively involved in providing feedback on the digital customer and seller journeys launched. We conduct quarterly surveys to receive feedback on digital and IT tools, that enables us to improve further.
Who are the new technology partners on-boarded during pandemic times and what solutions and services are they providing to Bharti AXA Life?
We have on-boarded several technology partners during the pandemic for providing solutions within the digital domain. These include EnParadigm, To The New, Datacomp and Anblicks, to help us with mobile and web application development across sales and customer service, both from a direct-to-customer and business-to-business standpoint.
Our direct-to-customer digital assets have undergone a complete transformation with launch of a new corporate website, designing of smart & intuitive on-boarding journeys and our new customer servicing portal. These new assets have been developed using the new-age cloud native technology stack. They therefore ensure a superior experience browsing through the website. We have collaborated with the 4 new tech partners during the pandemic to deliver these transformational projects. From a B2B standpoint, we have on-boarded 8 tech partners amidst the pandemic.
What are the developments for digital transformation of distribution?
We have launched a digital solution named M-Smart, an industry first realization of a 3-app strategy for distribution under the digital transformation agenda at Bharti AXA Life Insurance. This comprises a suite of mobile and web apps for our distribution workforce that enables them to digitally perform critical business functions right from presales to customer on-boarding and servicing, along with complete seller lifecycle management, digital recruitment, learning management and performance management. The aggregated set of digital tools under M-Smart offer a convenient single sign-on process that is supplemented with the use of biometrics. It therefore allows seamless access to all applications governed by the access privileges. M-Smart being the container application, it brings all the necessary capabilities of downloading and managing the versions of the applications.
The digital assets hosted by M-Smart include ‘M-Sell’, a pre-sales mobile app for sellers to engage with prospective customers with lead management, need-based product recommendations, calculators and quotations, engagement opportunities such as sharing of marketing collaterals, announcements, etc, and acts as a gateway to customer on-boarding.
‘M-Customer’ is a mobile-first progressive web application that allows a customer to be on-boarded in less than 15 minutes by leveraging E-KYC, PAN, etc. using existing policy details for a repeat customer for filling the proposal form. The application brings smart document upload features along with upfront underwriting and integrated pre-issuance verification with multiple payment options. The on-boarding journey on M-Customer is supported by a comprehensive application tracking for the sales team. Lastly, ‘M-Life’ is a mobile app that brings together digital recruitment, learning, managing performance along with rewards & recognition, contests, etc, at the seller’s fingertips. M-Life also offers the seller a holistic view of their book of business, thereby allowing them to take timely actions.