Aditya Birla Sun Life Insurance launches industry first instant policy issuance service on WhatsApp

ABSLI has partnered with Gupshup, a leading conversational engagement platform, Meta-owned WhatsApp, world’s most popular communication channel and Karza Technologies, one of the largest data analytics, automation and decisioning solution provider to FIs to launch India’s most advanced customer experience service for insurance applicants.

ABSLI is India’s first life insurance company to provide an end-to-end journey (on-boarding to issuance) of life insurance products on WhatsApp. Gupshup’s conversational engagement solutions along with Karza APIs fulfill KYC, and enable services such as quote generation, premium payment, and underwriting, entirely on WhatsApp in real time basis. 

It also includes functionalities such as mobile number validation, face & name match as in-built security feature eliminating the possibility of any fraud during the journey. At present this service is offered to ABSLI’s existing customers.

Commenting on the collaboration, Kamlesh Rao, MD & CEO of Aditya Birla Sun Life Insurance said, “It is our constant endeavour to provide customised best in class products and services to our customers at every possible touch point. Today the customer is increasingly becoming digital and is available on platforms like WhatsApp hence it was imperative for us to be where our customers are. Further, providing an end-to-end journey of life insurance products on WhatsApp would make the insurance buying process significantly simple, secure and seamless. It certainly would help towards increasing the insurance penetration among the technology savvy generation.”

Commenting on the partnership, Ravi Sundararajan, COO at Gupshup says, “In a rapidly growing economy like India, where smartphone adoption has been massive, financial services providers must meet their customers wherever they are. We are thrilled to help ABSLI launch its first-of-its-kind end-to-end insurance application and issuance journey on WhatsApp, allowing Indians to access the financial services they need, with a personalized touch. We’re glad to be a part of this journey to enable individuals with access to a rich and interactive journey on WhatsApp, which aims to reduce the effort and time involved in physically applying for an insurance policy.”

Commenting on the collaboration Gaurav Samdaria, Co-Founder of Karza Technologies added, "At a time when there is a rapid need to adapt to ever-changing user behaviour, ABSLI's move to use WhatsApp as an acquisition channel is definitely progressive. We are delighted to be their partner of choice for on-boarding automation and deepen our engagement with the Aditya Birla Group.”

This new launch marks ABSLI as the first insurance player to provide instant on-boarding of a customer in a digital, paperless, and frictionless manner in a few click seamless process.

This revolutionary initiative will enable ABSLI’s customer to complete the entire on-boarding process in 3-5 minutes and reduce the life insurance journey to few clicks. Instant gratification will encourage the younger generation to purchase life insurance on their own, which is in line with IRDAI's vision of increasing the penetration of insurance amongst the masses.