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Mobility-Reinventing the Realm of Servicing in the Insurance Sector

By Ashu Gupta, Head-IT, PNB MetLife India Insurance Co.Ltd.

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Ashu Gupta, Head-IT, PNB MetLife India Insurance Co.Ltd.

There is enough and more data around how  mobile devices are penetrating the Indian  market and the rate at which the Mobile  Apps segment is growing. With e-commerce  taking the industry by storm, mobility is also very  important for the insurers. Insurers want to be able to  support them in a comfortable way across all channels.

Mobility is transforming the insurance business  through various means. At PNB MetLife, we are  exceedingly proud of our  eBranch mobile solution  that greatly helps our  agents engage customers in  a convenient, interactive  and friendly manner.  Gone are the days where  our agents needed to  carry reams of documents  and forms when all one needs is just a tablet. It also allows the agents to  be rapidly supported by the back office team as we   extend access securely via  the mobile device.

Customers today are   highly intelligent and aware. They are looking for value when  visiting an insurer’s website. Therefore, we are   relentlessly building our website to attract customer responsiveness and have a convincing “call  to action”. Through our website, we are charming our  Gen Y customers by launching products that they can buy directly from the website. This allows them to do  their need analysis, compare our products with other  insurance products in the market and make an informed  decision. We recently launched two online products for the customers 

MetLife Mera Term Plan and MetLife  Major Illness Premium Back Cover (critical illness with return of premium). With the Mobile tool, we are able  to provide better illustrations anytime, anywhere. For  example, projected ROP earnings and value back to the customer, better data points and statistics on risks of  critical illnesses, informative content on eating well and keeping healthy, among others.

The holy grail of Mobility is to be able to “know” the customer across all touch points. With the use of CRM and Analytics tools at the  back-end, customers feel special because Service  representatives know them well versus being  frustrated at having to restate his issues at various  touch points.

Having said that; these initiatives are only tip  of the iceberg as our long term goal for mobility  is to encourage positive customer behaviors  that are beneficial to both the insured  and the insurer. For example, via  mobile health tracker applications  that encourage exercise and healthy  eating, we can create solutions that reward our policy holders as the  risks of sickness are lowered. We  could potentially even lower our premiums while our customers enjoy a better and healthier  lifestyle and yet still be protected by insurance, so we all win.

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