Digital Innovation Strategy
Birla Sun Life Insurance wanted to empower the company’s partner community with a new digital platform to enhance customer acquisition, and improve revenue and profitability. With a large partner ecosystem, the need for a highly available and scalable platform was paramount. Using a hyper converged infrastructure, API and ESB, BSLI successfully managed to scale new heights with fresh tie-ups. This was further enhanced with a new digital platform, which enabled seamless integration of the systems and processes between the company and its channel partners.
The platform not only created a hassle-free environment for partners enabling systematic and smooth customer acquisition, but also empowered them with value-added services such as easier policy issuance and smoother customer servicing. It also enabled the company to conduct paperless business transactions, and helped implement digital methods of filing proposals and e-KYC.
Following the successful implementation of this project, BSLI registered a growth of more than 20 percent in revenue and a large number of customer acquisitions.