Indian insurance giant Bajaj Allianz Life Insurance has contracted Simplifai, which is Elop’s AI business unit, to automate the business process of handling customer inquiries via e-mail Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv Limited owned by the Bajaj Group of India and Allianz SE, a European financial services company.
The company offers insurance products for financial planning and security and operates 759 branches across India. In 2020, Bajaj Allianz Life Insurance was voted amongst “Top 75 most valuable Indian Brands 2020”.
“We secured our breakthrough contract in India approximately one year ago. Our first contract helped to open many new doors, of which Bajaj Allianz Life Insurance is one of them. The potential for our technology is huge in India, and my guess is that we will see a number of new contracts in this market going forward,”
says Bård Myrstad, CEO of Simplifai.
Under the contract, Simplifai will deliver its AI-based Digital Employee solution to Bajaj Allianz Life Insurance. The purpose is to automate the business process of customer inquiries through e-mail and to evaluate the right process of email automation. The first Bajaj Allianz Life Insurance business area that will employ Simplifai’s Emailbot solution receives around 700-800 customer e-mails daily, equivalent to 20-25 thousand e-mails per month. Employing Simplifai’s technology will help Bajaj Allianz Life Insurance to automate and significantly speed up e-mail response times for the insurance group’s customers.
“A Digital Employee can process and answer multiple different e-mails efficiently – without ever taking time off and working 24/7 year-round. The Digital Employee can also undertake new tasks that are not currently handled and perform certain actions in the CRM system or other relevant systems. Only e-mails that are not understood will be sent to manual processing,”
adds Bård Myrstad.
To start with, Simpliai’s solutions will be applied to one of the customer support categories at Bajaj Allianz Life Insurance. In the subsequent phase, there is an opportunity to expand the scope to additional categories in the group’s customer support operations. As per Simplifai’s standard SaaS-model, Bajaj Allianz Life Insurance will pay Simplifai an undisclosed monthly fee for utilization of the Digital Employee AI solution.