India’s Canara HSBC Life Insurance coverage has cast a partnership with insurtech firm Artivatic.AI to boost its processes, in keeping with a press launch posted on CXOtoday.com.
By way of collaborations with banks and numerous different distribution networks throughout Tier 1, 2 and three cities in India, Canara HSBC Life Insurance coverage delivers life insurance coverage choices for its shoppers.
The brand new alliance will support Canara HSBC Life Insurance coverage in executing the digitisation of its insurance coverage operations, equivalent to onboarding of insurance policies and quotations, simplifying cost strategies and finishing up pre-insurance validations, amongst others.
For this method, Canara HSBC Life Insurance coverage will leverage the Mio Platform, a tech-integrated insurance coverage providing of Artivatic.AI.
To ship real-time knowledge to iOS and Android gadgets, this platform utilises Flutter know-how, a mixed answer that may lower down the operational and upkeep expenditures of companies.
Leveraging these applied sciences may help insurance coverage firms improve insurance coverage penetration throughout the nation, the corporate famous.
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Canara HSBC Life Insurance coverage spokesperson Sachin Dutta mentioned: “We’re very glad to associate with Artivatic.AI, which is able to purpose at facilitating seamless distribution of life insurance coverage merchandise to our buyer base.
“We anticipate Artivatic.AI’s unified gross sales and distribution platform to assist in enhancing the next-gen digital gross sales, operations and consumer-led conversions.
A bancassurance-led insurer, Canara HSBC Life Insurance coverage is a three way partnership between Canara Financial institution and HSBC Insurance coverage (Asia-Pacific).
Artivatic.AI co-founder Layak Singh mentioned: “The present partnership of Canara HSBC Life Insurance coverage and Artivatic.AI is geared toward fixing the long-standing insurance coverage trade necessities associated to underwriting, data and knowledge verification.
“Artivatic’s tech integration will assist in lowering the operation prices and enhance the turnaround time for insurance coverage processes of Canara HSBC Life Insurance coverage.”
