In its commitment to providing a seamless customer journey, Bharti AXA Life Insurance is constantly striving to strengthen its digital capabilities. The company rolled-out and successfully completed the phase 1 of Project Serv-o-ttam, under which 20 policy servicing journeys were re-imagined and it enabled a 360-degree transformation of physical services into digital services, thus facilitating customers to service their policy online in just a few clicks.
Customers of Bharti AXA Life can easily update their contact details and perform other policy-related tasks such as switching funds, surrendering their policy, and applying for a loan through DigiServe, company's customer-centric portal, which can be easily accessed from their website.
All these processes have significantly improved the efficiency of services thus resulting in query resolution within 24 hours, enabling customers to enjoy a smoother and hassle-free service. These digital services also offer DIY options, paperless processes, and OTP-based consent that helps customers to manage their policy and perform transactions securely and efficiently.
Talking about the highlights of Project Serv-o-ttam, Company's Chief Customer Officer and Head Digital Business, Mr. Nitin Mehta said, "Project Serv-o-ttam is perfectly aligned with our mission to simplify insurance for our valued customers. We have received positive reviews for our efficient services, and a remarkable 30% increase in the Net Promoter Scores for our customer portal Digiserve is a testament to the delight we have successfully created for our customers. We understand that changing times have brought a shift in customers' requirements, and digitization has made it easier for them to avail key services while eliminating manual processes. With Project Serv-o-ttam, we prioritize saving customers' time and effort. These are the times of DIY journeys, and we want to make managing the policy for our customers as easy as possible."
Speaking on the Project Serv-o-ttam, Mr. Pankaj Gupta, Chief Technology Officer at Bharti AXA Life Insurance, said, "At Bharti AXA Life, we are committed to enhancing the customer experience through our digital services. By investing in our digital capabilities, we have been able to improve the customer journey and query-resolution time, while also mitigating the risk of fraud. Our digital processing system is designed to meet the demands of our customers' busy lifestyles, providing them with a fast and hassle-free way to access our services like changing nominee details and updating bank account details anytime and anywhere. At Bharti AXA Life, we remain committed to providing our customers with the best possible service experience and we are dedicated to providing them with innovative solutions services."
The project was aimed at digitizing 8 critical policy servicing journeys, viz. the demographic change, bank account update, fund switch, payment mode & method change, loan application, partial withdrawal, policy surrender and online nominee update. In addition to the benefits provided to customers, Project Serv-o-ttam also offers front-desk employees a single-screen view of customer & policy information, enabling them to provide timely and efficient service to customers. This has led to 33% decrease in the time required to serve a single customer.
This project has also won two recognitions for its operational excellence – 'InsureNext Conference & Awards-2023' and 'Terragni- CXPA India CX Awards 2022', held first time in India that recognizes and honours excellent work done towards enhancing customer experience. Additionally, the positive impact it had on the Net Promoter Score created a success story which won two more awards – UBS Forums - Customer Experience Team of the Year Award 2023 and Best CX Strategy of the year award 2023 by Brainanalytics.
Bharti AXA Life Insurance Company Ltd.
Bharti AXA Life Insurance is a joint venture between Bharti, one of India's leading business groups with interests in telecom, agriculture business and retail, and AXA, one of the world's leading organizations with interests in financial protection and wealth management. The joint venture company has a 51% stake from Bharti and 49% stake of AXA. The company has pan-India presence through its 251 branches and offers a wide range of value for money and need-based life insurance products targeted at individual and groups.
