Hdfc Life Insurance Co. Ltd. · NSE:HDFCLIFE
Hdfc Life Insurance — Jefferies India CTO Summit 2021
20 slides from Hdfc Life Insurance's conference presentation, November 2021
Slide 1: HDFC Life TechEdge
Slide 2: The world was changing at an accelerated pace - An Internet minute in 2020
The world was changing at an accelerated pace - An Internet minute in 2020 There was a shift in the way services were delivered and measured… Source: Infographic created by Lori Lewis (@LoriLewis) and Chris Chadd (@OfficiallyChadd) 2
Slide 3: Enabled by a new wave of digital disruptive technologies
Enabled by a new wave of digital disruptive technologies… Internet of Things Artificial Intelligence Wearable devices Machine Learning Students preparing themselves for jobs that don’t exist, using technologies that haven’t been invented in order to solve problems we don’t even know are problems yet
Slide 4: Sectors getting disrupted by digital natives and platforms
Sectors getting disrupted by digital natives and platforms Source: Fintech India by Digital Fifth 4
Slide 5: Disrupted by changing customer experience expectations
…and disrupted by changing customer experience expectations Journeys in Clicks Blog & Reviews vs. Days Compare and buy Idiot Proof UI / UX Touch Offline & Multichannel Buy Online 15-day return Network speed Rent vs. buy 5
Slide 6: So, what have we been doing at HDFC Life?
So, what have we been doing at HDFC Life? 6
Slide 7: HDFC Life changed its operating model
In the context of the new world HDFC Life changed its operating model… From the Traditional Insurer… …to the Insurer of the Future Top Line Marketing / Product Driven Segmented Marketing / Customer-Driven Agency Banca Group Digital Agency Banca Group Digital Channels Platforms HDFC Life online Life9
Slide 8: Cognitive engines to serve the operating model
…and created multiple cognitive engines to serve the operating model… Enabler Building blocks Culture Cloud Journey Simplification Fail Early / Give me a simple journey Fail Fast from purchase to payout 1 Agile / AI / ML Partner Platforms & Integration Sprints Ecosystems 2 Give me an Nudge me in 5 C
Slide 9: Suite of products and microservices
Cognitive engines rapidly developed a suite of products and microservices Internet of Artificial Things Intelligence Wearable devices Machine Learning 9
Slide 10: Aligned to make life simple for the customer in a resilient environment
aligned to make life simple for the customer …..in a resilient environment 1 3 5 Give me a Give me simple journey JOURNEY SERVICE Nudge me in & PLATFORMS my frictionless from purchase SIMPLIFICATION SIMPLIFICATION world ECOSYSTEMS service to payout Give me an PARTNER Personalize my integrated DATA L
Slide 11: Journey Simplification – Short journeys for specific requirements
1 Journey Simplification – Short journeys for specific requirements InstaSIP – POSP LifeEasy1– Voice WIP ULIP Journey Journey Protection Journey Journey >99% Faster medical ~7 mn offers <4 hrs. 51% Policy issuance and policy rolled out overall policy Online business journeys issuance via through PAS
Slide 12: Partner Integration – Different partners, different solutions
2 Partner Integration – Different partners, different solutions HDFC Bank Life Next1 Insta PRL2 Partner Portal3 End-to-end ~98K Straight through Multiple partners servicing of partner digital agent processing module digitally integrated requests on Partner recruitment in FY21 for Group– Life Next Po
Slide 13: Service Simplification – Through 24*7 digital offerings
3 Service Simplification – Through 24*7 digital offerings… 24*7 accessibility Instant branch experience Frictionless journey ETTY- ELLE 2.0- ELSA- Alexa Whatsapp Chatbot bot Insta Serv1– Life Certificate – Assisted Policy Insta Receipt2 Customer App Video Life Servicing Certification SPOK- Email ZOE
Slide 14: Data Labs – Creating a data led ecosystem and scaling AI
4 Data Labs – Creating a data led ecosystem and scaling AI Deep learning model Vision AI Voice AI AgeTymer UW engine (Face (Face ageing) (automated recognition) underwriting) (INDUSTRY FIRST; HealthProfiler Bodmeter Manages end-to- (BP and Heart (Face BMI) end renewal call) Text AI Monitor) True Cue
Slide 15: Platforms and Ecosystems
5 Platforms and Ecosystems Life 991: Ecosystem for retirement and pension segment National Gratuity and Employee Public Provident Annuity Consolidated Pension System Superannuation Provident Fund Fund Portfolio View Simulation Tax Services Third-Party Health and Knowledge Advisory Retiree Financial
Slide 16: Futurance Partnerships
(6) Futurance Partnerships > Fluid AL series | Qa” awit i j > params | wagon = 2 ¥ 3 MapRecruit verig digital zuwayam FUSION @ ‘ Ss vst Gn ir = \] ed vee” finahub-= S skyhive ona vel SYNTIZEN ps FA SmartWinnr ©HRBot co co gnani.ai %& worxego NLPBOTS’ Your. Workoce © Toowvt Q si IREZOW.¥ Ve:XTA karza
Slide 17: Leveraging technology to build resilience
…along with leveraging technology to build resilience 7 Architecture Resilience – Scalability and Efficiency Modular Low Code architecture Custom APIs Data Lake Platforms Cloud 8 Workforce Resilience – Hybrid Working Environment Virtual Work From Re-imagine Digital Re- Morale and Workspace Anywhere
Slide 18: Our efforts have resulted in improving lead metrics
Our efforts have resulted in improving lead metrics… Journey Simplification Partner Integration Service Simplification Data Labs Platforms & Ecosystems 99.4% Claim <4hr settlement ratio 1.6M+ Policy issuance Monthly queries on InstA TAT 25+ Cloud native <2 min. tech. products 650+ PASA2 60% Corporat
Slide 19: Improving productivity and fastening capability building
…and help us improve productivity as well as fasten capability building Technology driven agency channel Onboarding Skilling & Engagement Enablement Support & Servicing InstaPRL a simple, Digital learning & skilling HDFC Life Easy – paperless and hassle free platform benefitting End 2 End Term Journ
Slide 20: Thank you
Disc Sar utha ke jiyo! Thank you
HDFC Life Insurance Company — Jefferies India CTO Summit 2021 on 6ix