The Covid-19 pandemic has changed the way insurance companies handle customer services. Processes that would take weeks or even months have to be completed within days and that to by remote teams, due to restrictions on people movement.
Like its peers, Gurugram-based Max Life Insurance has upped its investment in technology to keep up with the changes in the sector.
In an interview with TechCircle, Suhail Ghai, EVP & head information technology at Max Life Insurance spoke about the digital preparedness of the firm even as insurance tech takes flight across the world.
The company is using AI (artificial technology) including vision, speech, and natural language processing (NLP) to develop a host of predictive models and cognitive applications for its customers.
Max Life Insurance has bet on social analytics to personalise offerings to the customers, smart algorithms and machine learning to segment customers and use AI models on the right risk selection and pricing.
Prior to Max Life, Ghai was with PepsiCo as CIO for almost 10 years and was responsible for leading the IT (information technology) team at PepsiCo India region. In his role, he also managed business partner relationships and was accountable for all aspects of business solutions, technology delivery and IT spends across multiple commercial units.