Bajaj Allianz Life Insurance Co. Ltd. (BALIC), is one of the fastest growing private life insurance companies in India. Can you guess its growth formula? It consistently uses technology very smartly to boost efficiency and productivity. Presenting some recent examples.
Every company uses tools like WhatsApp, MS Teams and Robotic process automation (RPA). What BALIC did was put them together in such a way that it revolutionized employee productivity. This transformative approach has enabled BALIC to overcome operational challenges and create a seamless work environment. Addressing key pain points using automation has brought forth remarkable benefits to the organization.
With an employee count of more than 21,000, BALIC faced several challenges prior to embracing automation in processes like employee onboarding, employee queries and vendor payouts. Employees grappled with either calling HR staff with their queries or accessing multiple applications to retrieve crucial documents and data, resulting in inefficiencies and wasted time. Manual data extraction and approval processes caused delays and hindered productivity. The existing systems provided a suboptimal user experience, negatively impacting employee satisfaction. Moreover, high turnaround times for approvals and critical processes created bottlenecks within the organization.
Through automation, BALIC employees experienced a range of substantial benefits. What made a considerable difference is EEze, an AutomationEdge powered Conversational AI and automation solution integrated with WhatsApp which has greatly enhanced employee experience. With HR and IT systems now working in sync, employees are now productive from day one.
A unified platform within WhatsApp really helps employees save time by eliminating the need to navigate multiple applications.
The integration of WhatsApp and MS Teams has ushered a digital work environment that ensures 24/7 accessibility to applications and services. This flexibility promotes collaboration among team members and allows employees to access critical information from anywhere, at any time. The employee experience will improve further with adoption of ChatGPT like Generative AI technology in the chatbot.
Centralized access to applications is a significant benefit of automation for BALIC. Integrating various applications within a single chat window has simplified the user experience, and reduced the complexity of accessing essential information. Employees can now navigate tasks more efficiently, and this has boosted the employee onboarding satisfaction score from a low 30% to a high 93%.
Another area of notable progress at BALIC is vendor payout. This involves coordination between HR, IT and Finance systems. The AutomationEdge solution processes 10,000 invoices by automating 9 processes including invoice tracking, payment management, and purchase order creation. It has reduced manual intervention, improved accuracy, and ensured timely payments to vendors. The vendors are happy because payout happens in days instead of weeks and months after automation.
The third notable area of progress at BALIC is customer lifecycle management. A newly developed RPA bot talks to 6 business systems to concentrate all customer lifecycle data at a single location. The bot also shows the earning potential to salespersons on their mobile phones and keeps them updated on the lead status.
To recap, BALIC’s implementation of strategic automation solutions, powered by WhatsApp, MS Teams, and AutomationEdge, has boosted employee productivity and satisfaction. By addressing challenges head-on and capitalizing on the benefits of automation, BALIC has created a digitally sophisticated work environment. Their notable success is an inspiration for organizations seeking to optimize operations and stay ahead in today’s fast-paced business landscape.
