The Rise of Digital Insurers – Business Case of ICICI Lombard
Goutam Dutta, Ex-Vice President, ICICI Lombard, presents how his company derived benefits using AutomationEdge :
- Turnaround time of Fire quote issuance improved to 30 minutes from earlier 2 days and policy issuance TAT to 1 day from earlier 3 days.
- Data cleansing and transformation time reduced to 5 mins from earlier 3 to 4 hours.
- 61% of deviation approvals done by Bot. The rate is increasing by 3-5% each month.
- Operations productivity improved and they are able to handle the 3x volume with same team.
- Document upload, inwarding done by Bots and improved productivity of sales and operations by 55%.