New Delhi: Canara HSBC Life Insurance has partnered with AI-backed insurtech company, Artivatic.AI to streamline and simplify its insurance processes. Based in Bangalore with a presence in the US, Artivatic.AI is part of D2C Consulting Services Private Limited, which also owns RenewBuy.
The tie-up with Artivatic.AI will help Canara HSBC Life Insurance digitise the insurance processes like policy onboarding, quotations, ease of payments, pre-insurance verification, etc. Artivatic’s tech-integrated insurance platform will back the insurance company’s processes.
“We are very happy to partner with Artivatic.AI, which will aim at facilitating seamless distribution of life insurance products to our customer base. We expect Artivatic.AI’s unified sales and distribution platform to help in improving the next-gen digital sales, operations and consumer-led conversions,” said Sachin Dutta, Canara HSBC Life Insurance’s COO.
“The current partnership of Canara HSBC Life Insurance and Artivatic.AI is aimed at solving the long-standing insurance industry requirements related to underwriting, information, and data verification,” said Layak Singh, Co-Founder of Artivatic. AI.
“Artivatic’s tech integration will help in reducing the operation costs and improve the turnaround time for the insurance company. The joint motive is to ultimately help consumers with smoother onboarding process thereby driving better CX and faster turnaround time,” added Singh.
Artivatic.AI’s all-integrated Mio Platform uses Flutter technology and provides a unified core platform to help companies reduce operations and maintenance costs, and provide real-time data across iOS and Android operating systems.
SBI Life, ICICI Prudential Life Insurance, AEGON Life, Aditya Birla Captial Life Insurance, Bajaj Allianz, IFFCO TOKIO General Insurance and IDFC First Bank are among the many BFSI clients of Artivatic.