India’s Canara HSBC Life Insurance coverage has cast a partnership with insurtech firm Artivatic.AI to boost its processes, in accordance with a press launch posted on CXOtoday.com.
Through collaborations with banks and varied 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 assist Canara HSBC Life Insurance coverage in executing the digitisation of its insurance coverage operations, equivalent to onboarding of insurance policies and quotations, simplifying fee strategies and finishing up pre-insurance validations, amongst others.
For this strategy, Canara HSBC Life Insurance coverage will leverage the Mio Platform, a tech-integrated insurance coverage providing of Artivatic.AI.
To ship real-time information to iOS and Android gadgets, this platform utilises Flutter expertise, a mixed resolution that may minimize down the operational and upkeep expenditures of companies.
Leveraging these applied sciences can assist 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 stated: “We’re very pleased to accomplice with Artivatic.AI, which can intention 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 stated: “The present partnership of Canara HSBC Life Insurance coverage and Artivatic.AI is aimed toward fixing the long-standing insurance coverage business necessities associated to underwriting, info and information verification.
“Artivatic’s tech integration will assist in decreasing the operation prices and enhance the turnaround time for insurance coverage processes of Canara HSBC Life Insurance coverage.”