HDFC Life Spearheads Digital Transformation by Deploying 150 Bots using AutomationEdge Integrated Automation Platform2021-01-29T08:36:11+00:00
HDFC Life Spearheads Digital Transformation by Deploying 150 Bots using AutomationEdge Integrated Automation Platform
Published: 29th June 2019: AutomationEdge takes pride in sharing the news of its long-time customer, HDFC Life. India’s most valuable life insurance company has announced the deployment of 150 RPA bots across 26 functions to enhance performance.
HDFC Life on Friday has announced the deployment of 150 RPA bots across 26 functions, including a custom-built ‘Super Bot’ to manage live BOTs as a ‘virtual supervisor.’
Jitendra Agrawal, EVP Business Service & Excellence, HDFC Life added, “With added capability of RPA, we have expanded our horizon to drive ‘HDFC Life Way of Excellence’ to a new dimension. Now we have a scalable and secure platform in the organization to address emerging opportunities and systematically address the chronic business problems. The deployment of 150 BOTs across 26 functions is just a beginning of a continuous effort to make composite use of RPA platform and solution along with AI/ML, Analytics to create ‘Cognitive BOTs’ to reimagine the processes and create a significant shift in customer experience and deliver business value, across the value chains.
HFDC Life has strategically identified, experimented and deployed leading edge technologies including RPA to create a scale and competitive advantage. Hence after evaluating 40+ vendors, HDFC Life has built first set of eight bots in Oct’16 for most complex process (customer initiated payout) and second set of three bots with the most complex function (actuarial).
Currently, there are 150 bots running across 26 functions, out of which 40 per cent of the bots are complex in nature. Further, HDFC Life manages the real time adherence of these bots through a Super Bot and each bot has specific tangible benefits viz. TAT reduction, accuracy improvement, risk reduction, productivity improvement, etc. Now company is looking at RPA in conjunction to AI/ML, analytics, all put together, as ‘Cognitive BOTs’ to re-imagine the processes and create a significant shift in the customer experience and business value creation. Company says the future is all about how to effectively use technology to simplify complex scenarios of the value delivery processes.
Parvez Mulla, chief operating officer, HDFC Life said that given the complexity of the products, spread across geographies and multi-distributor model, they have strategically identified, experimented and deployed Robotics Process Automation (RPA) to automate and simplify its processes.”