Canara HSBC Life Insurance & Artivatic.AI to simplify insurance process

By Gloria Mathias

Canara HSBC Life Insurance has joined hands with Artificial Intelligence-based InsurTech company, Artivatic.AI to streamline and simplify the insurance processes for the insurance company.

Canara HSBC Life Insurance offers life insurance products to its customers through bank partners and other distribution channels, across the Tier 1/2 and 3 cities of the country.

Partnering with Artivatic.AI will help Canara HSBC Life Insurance digitize the insurance processes like policy onboarding, quotations, ease of payments, pre-insurance verification, etc. The processes will be backed up by Artivatic’s tech-integrated insurance platform.

Sachin Dutta, Chief Operating Officer on the collaboration said, “We are very happy to partner with Artivatic.AI, which will aim at facilitating seamless distribution of life insurance products to our customer base. We expect Artivatic.AI’s unified sales and distribution platform to help in improving next-gen digital sales, operations, and consumer-led conversions. We are confident that the partnership will reap effective results for the company and for the end consumers, making insurance more accessible to them.”

Layak Singh, Co-Founder, Artivatic.AI said, “The association is aligned with the insurance regulator’s broader vision of simplifying insurance for all, using technology as an enabler. The current partnership of Canara HSBC Life Insurance and Artivatic.AI is aimed at solving the long-standing insurance industry requirements related to underwriting, information, and data verification. Artivatic’s tech integration will help reduce operation costs and improve the turnaround time for the insurance processes of Canara HSBC Life Insurance. The joint motive is to ultimately help consumers with a smoother onboarding process thereby driving better CX & faster turnaround time.

Mio Platform is Artivatic.AI’s all-integrated platform, which uses Flutter technology, a unified core platform that can help companies reduce operations and maintenance costs, and provide real-time data across- IOS and Android.

Artivatic.AI empowers insurers with intelligent automation, risk assessment capabilities, and fraud prevention measures. The company is dedicated to revolutionizing the insurance landscape and creating a secure and customer-centric ecosystem.

Such technologies will drive the way forward for Insurance companies and better insurance penetration across the country.