The first fast policy issuance service on WhatsApp in India has been launched by Aditya Birla Sun Life Insurance (ABSLI), a life insurance subsidiary of Aditya Birla Capital Limited (ABCL).
The world's most popular messaging app, WhatsApp, owned by Meta, and Karza Technologies, one of the largest providers of data analytics, automation, and decisioning solutions to FIs, have joined hands with ABSLI to launch the most cutting-edge customer experience service for insurance applicants in India.
The first life insurance provider in India, ABSLI, offers a whole life insurance product lifecycle (from onboarding to issuance) over WhatsApp. Together with the Karza APIs, Gupshup's conversational engagement solutions enable KYC and services like quotation generation, premium payment, and underwriting exclusively on WhatsApp in real-time.
Aditya Birla Sun Life Insurance's MD and CEO, Kamlesh Rao, commented on the partnership by saying, “It is our constant endeavour to provide customised best in class products and services to our customers at every possible touch point. 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 the insurance penetration among the technology savvy generation.”
According to Ravi Sundararajan, COO at Gupshup.“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. We’re glad to be a part of this journey to enable individuals with access to a rich and interactive journey on WhatsApp, which aims to reduce the effort and time involved in physically applying for an insurance policy.”