MUMBAI: SBI Life Insurance has introduced a tablet-based service ‘Connect Life’, which gives the power of choice to the customer while purchasing a policy.
It is adopting digitization of the entire process beginning with built in need analysis calculator that offers a customer the right products to choose from, filling the proposal form with a facility of paying premium and uploading necessary documents from the tablet. Distribution Partners from all the sales channels of SBI Life can sell insurance products through this facility, a statement said.
A customer has to begin with their need analysis calculation and based on their requirements has to choose a policy from the wide array of products offered, namely, protection, wealth creation, savings, child and retirement plans. The product brochures and videos help them make an informed choice with recommendations from the need analysis report and expert distribution partners.
Arijit Basu, MD and CEO, SBI Life Insurance, said, “In this day and age where technology is in the forefront, we have taken the initiative through Connect Life to delight customers with an effective and tech-savvy option while bringing them on board as seamlessly as possible. Through this technology, we are empowering the customer to opt for a policy emphasising on their needs while offering them a wide range of products and services. Overall, Connect Life will reduce the turn-around time and help with faster policy issuance.”
SBI Life’s huge multi- dimensional distribution system of distribution partners will benefit from the initiative of Connect Life. Our productive force of over 80,000 IAs from 750 SBI Life offices and an unrivalled network of 20,000 SBG branches along with it’s five Associated Banks, across the country, will be enabled with this sought after technology which will help them sell smarter and efficient thereby providing customers with excellent services and a great experience, he added.
SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Cardif. SBI owns 74% of the total capital and BNP Paribas Cardif the remaining 26%.