In the fifth episode of the 'MINTBUILDBUSINESS' Leadership Connect series, Jaideep Mehta, CEO-Mosaic Digital, Head-Mint, talks with Vibha Padalkar, MD, & CEO, HDFC Life. The episode includes an exciting discussion around— the current state of the insurance sector and the many benefits of incorporating digital channels, and adoption to cloud.
Given the sea change in the ecosystem in which organisations are operating today, the top agenda across culture & leadership is to drive resilient business transformation. The insurance industry in India is no exception. It is also growing at a steady rate. And this is creating a whole different paradigm of competition for profitability. HDFC Life is extensively leveraging cloud data, technology platforms, and partnerships (both with startups and big tech companies) and managing to keep the people and partners energized for winning in the marketplace.
Said Vibha Padalkar, “Protection is right in the center. We provide everything— from interest rate guaranteed products, annuities, credit life, or partnering with banks/small finance banks/microfinance companies to insurance for borrowers. HDFC Life is a production factory and innovator to bring new products.”
Vibha further elucidated, “We have to be where the customer is. Digital is now becoming more horizontal than vertical. Today, we have direct channels. Pandemic has accelerated our outreach to customers as well as services to customers. Customers are in hybrid mode, need any place, anytime, and any mode access.”
With reference to the Innovation quotient, Vibha mentioned “Every kind of innovation is undertaken by considering who the customer is, what their profiles are, and what the associated risks are. For instance we have curated a range of new tech solutions as a part of our underwriting journey."
Watch the entire clip to get complete insights.
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