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Religare Health Insurance to Take AI's Help in Growing Business

Published On Dec 02, 2019, Updated On Sep 01, 2020

The insurance industry is all set to take a leap owing to advanced technological capabilities and transformed and altered customer behaviour. And Care Health Insurance formerly Religare Health Insurance (RHI) is a part of this transformation.  

Religare has usually invested in the effective use of technology to offer excellent customer service, product innovation, and value-for-money services by operating on the principle tenets of ‘consumer-centricity’.

The EVP, Head-IT of RHI Suresh Kolla shares thoughtful insights about how he is helping the company through technology.

4 years ago, when the company started its journey to digital, it realized that only 10% of the policies were underwritten digitally.  

Kolla says, "To overcome this, we had to think and assess as to what changes can be done in the technological system that would enhance customer experience and make them adopt digital. The bigger challenge, however, was to present a digital model to channel partners, who were more comfortable working in the traditional manner. So, we knew we had to present it in a way that will help them sell better, save time, and provide a better scope of transparency." 

A huge number of policyholders make claim settlement requests daily. Which is why, in order to provide high customer satisfaction, the health insurance companies aim at solving even the slightest inconvenience reported by the policyholders. 

Religare Health Insurance, in order to ensure utilization of digital platform by customers and channel partners, provided them with a website, an e-portal, and application. Kolla shares that it is because of digital platforms that 85% of their policies are issued digitally.  

The huge range of products was an advantage, whereas longer hours that took to settle claims for them and customer query was not. To sort this out, Religare deployed a chatbot, powered by Google Dialogflow, to address customer grievances. 

As a solution, today Religare Health Insurance settles claims and reimburses the sum within one week. 

Keeping in mind the disruptive capabilities of AI, Kolla seeks to deploy it in RHI. RHI is testing some Artificial Intelligence projects by operating with a startup which Kolla believes will strengthen different process in the organisation.  

Kolla explains, “Rather than reviewing and investigating every case, we wanted something that can accelerate claim settlement automatically. On achieving certain benefits and a fair level of comfort, we will deploy the solution.” he adds, "We are working on another project related to customer propensity wherein we are reviewing our channel partners and trying to see what is causing the customer to drop out. On the basis of this, we are trying to tailor our conversations with them.”

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