Shriram Life Insurance adopts technology-driven eKYC services

Shriram Life Insurance

Shriram Life Insurance is committed to providing a superior experience to its semi-urban and rural customers. The UIDAI has now recognised Shriram Life Insurance as a KUA/AUA (KYC User Agency & Authentication User) agency. The certification will enable it to compete eKYC for the customers when soliciting new business and during other policy servicing processes.

Explaining the significance of the development, Cassie Kromhout, MD & CEO, Shriram Life Insurance Company said, “The authorisation from UIDAI will enable us to simplify customer on-boarding for our valued customers. Now, with the help of an OTP, we will be able to complete eKYC in minutes, without having to upload images or documents. It will speed up the process and eliminate the need to furnish documents, which may not be available at the time of sale. It can prove a boon for our customers from remote and rural areas, where we have a significant presence. We can issue policies quickly and provide customers with immediate life insurance protection via their smartphones.”

Also Read | Digital channels are expected to grow, with 88% customers asking for digital insurance: Anil Aggarwal, MD & CEO, Shriram General Insurance

The authorisation will allow SLIC to provide its customers with a seamless experience. It will be able to verify documents for the clients within a short time. The company has also gone live with this huge enabler in its core systems and point of sale mobile applications.

SLIC will now be able to improve customer satisfaction, operate at a faster rate, enrollmore clients, and resolve claims in the lowest amount of time.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.