Cyber security remains a major threat across the board. We are almost paranoid as an organisation when it comes to the absolute security of our customer data, stated Ayan De, Head- Business Technology & Infrastructure, HDFC Life Insurance, in an interaction with Srajan Agarwal of Elets News Network (ENN).
How do you see the insurance experience for a customer transforming with technology like AI and cloud opening new avenues of growth?
Post-Covid, most insurance companies are trying to build upon the digital platforms created for both business acquisition and servicing. Technologies like Computer Vision, Smart OCR, AI-based bots, and Humanoid voice technologies are poised to play a major role in offering both curated products as well as personalised services.
Insurance was earlier a pushed product, Post-Covid it has become a demand- driven product. So how is it helping you to gain growth opportunities?
Covid, in a different way, has forced the adoption of insurance as a major financial strategy in the conscience of the average customer. Also, the 2 years of contact less engagement has trained the customer to demand for the expansion of more such services over the horizon. We at HDFC Life, recognise this trend and are creating robust platforms to meet this accelerated market demand.
What technologies are you implementing to give the organisation a competitive edge?
Cloud has been a major game changer for us over the past few years. Today, we are also adopting a vast array of API service-led integrations with the rest of the financial eco- system. HDFC Life has also embarked upon a national journey of insuring every citizen.
This is driving the adoption of various technologies to connect with the large landscape of other services offered today.
You have entered into new fame or new occupation, how are you projecting your next years?
HDFC Life wants to embrace the new India as a technology-led insurance company. All our current business decisions are being mapped out with underlying technology definitions. We truly believe that technology will lead the way how this industry grows into the Modern India dream.
What major technology deployment challenges have you faced recently? What is the way out?
Cyber security remains a major threat across the board. We are almost paranoid as an organisation when it comes to the absolute security of our customer data. Hardware components are facing a major headwind since the last 2 years with the supply chain disturbed across geographies.
Good talent remains a major concern with technology innovation and adoption becoming a de-rigueur across industries. We have looked at innovative ideas to combat most of these threats/disruptions as we progress in the post Covid recovery phase.