Shriram Life Insurance is recognised for ‘Best Use of Technology in Customer Service’

Mumbai, 20th September 2022.

Shriram Life Insurance (SLIC) has been recognised for ‘Best Use of Technology in Customer Service (Life Insurance)’ at theprestigious BFSI Leadership Awards, 2022, organised by Krypton India. The award was presented to team SLIC at a glittering ceremony held in Mumbai on September 15, 2022. The award is a just recognition for SLIC, Novac IT (Shriram Group’s IT arm), & Novac Digital’s committed efforts at providing excellent service to its customers through intelligent and smart use of technology.  

While commenting on the achievement, Casparus Kromhout, MD & CEO, Shriram Life Insurance Company said, “Shriram Life Insurance operates predominantly in the middle and lower-income markets with a significant presence in the rural segment. Reaching and servicing these markets require solutions that match the customers’ unique needs. We have developed and deployed innovative tech-driven solutions, such as claims settlement within 12 hours for even remote locations, mobile applications for on-boarding customers & servicing them, and virtual bots via WhatsApp, to stay connected to our customers at all stages of the customer journey. It has helped us stay true to our purpose of providing individuals most vulnerable to financial distress on a breadwinner’s loss, with a protective net.”

SLIC is committed to offering superior and seamless service to customers. Accordingly, it has introduced many technological innovations to strengthen its operations.

·        Claims settlement: 12-hour settlement with technology for enhanced CX (Customer Experience)

·        ShriMithra App (B2C App for customers)

·        WhatsApp-based services: CHATBOT (Shria), VOICEBOT

·        Simplified customer onboarding: Astra mobile app for Sales force

·        Digital payments through Paymathon and Quick payment services using latest digital technology interventions

·        Use of smart analytics supported by technology platforms

·        Video-based medicals and allied technology-enabled services

The BFSI Leadership Awards, 2022, comes close on the heels of the InsureNext Awards, which the company won in January earlier this year, where it was honoured for ‘Best Digital Initiative – Life Insurance’. The awards were organised by Banking Frontiers in collaboration with knowledge partner Deloitte India. Earlier in August 2020, Shriram Life Insurance Company also won the Gold Award for ‘Customer Service Handling – Claims’ in the 8th Excellence Competition.