The transformation which accompanies change is the reason for progress since the very beginning of human society itself. And now in the 21st century, with the dawn of technological age, humankind is in the grip of another major transformation unheard of before.
Stressing on how the simple science of technology has made commendable changes in our lives in the most recent decades, Rakesh Jain- CEO of Reliance General Insurance strongly believes that the infusion of technology and insurance is yet another milestone. With the staggering penetration of internet and smartphones and immense advancement in the world of mobile applications and services, consumer has truly become king.
Everything can be availed today in a matter of seconds like booking tickets, getting cab, ordering food, paying utility bills and much more. Even at Reliance General Insurance, technology is rewriting the rules of the game and is creating new level playing fields like never before.
Take for instance; our ‘Video Streaming’ service meant to simplify the claims process at our network garages is a huge achievement. Through it, we have settled more than 53,000 claims in a short span of time and reduced our Turn Around Time (TAT) by an incredible 30% and aim to increase our reach rapidly by adding more to our existing tally of 250+ garages.
Video Streaming is a cloud-based technology which takes away the hassle of waiting endlessly for a surveyor and empowers our network garages to intimate a claim by filling minimum details resulting in instant approval.
The current ecosystem, the world over, is being heavily fueled by Technology and is nothing short of a wonder as it is creating new paradigms and seamlessly bridges the gap between different sections of the society. The Insurance sector is also benefitting from this technological adoption as we are able to drastically reduce our operating costs while giving our consumers a fine experience.
With newer radical streams like Artificial Intelligence, Machine Learning, Internet of Things (IoT) and Big Data making the headlines; the Insurance sector and its allied industries will also be positively impacted and is sure to witness a revolutionary transformation in the times to come. The marrying of Insurance with Technology is a delight for our customers and reinforces our belief to Live Smart.
(This article is sponsored by Reliance General Insurance)