IndiaFirst Life Insurance, promoted by Bank of Baroda, Andhra Bank and Legal & General, announced the launch of its chatbot, IRIS today. IRIS is equipped with multiple functionalities such as product descriptions, premium statements and notices, fund value inquiries and application status to the customers.
“This will strengthen self-service options for the company's field sales and customers, reducing dependence on contact centres for basic requests or information, and a modernised process that will enhance the overall customer experience,” said company.
“IRIS: A chat bot, a virtual assistant that is available 24*7 to our customers, distributors and employees is our viable adoption of technology to provide our stakeholders with a superior and consistent performance. We are growing at 137% Y-o-Y in retail new business APE and we innovate to provide a robust customer service process for our growing base of customers, in line with our philosophy of ‘customer first',” said RM Vishakha, MD & CEO, IndiaFirst Life Insurance.
“Today, customers are looking for instant solutions and IndiaFirst Life Chatbot enables to ask any question and get fast and real time response, through live chat experience. The real-time expense management adds a layer of improved functionality and simplifies the day-to-day functioning of our sales force. This will help them focus on what's most important to us as team, which is offering the customer the best product and service”, said Mohit Rochlani, director – operations & IT, IndiaFirst Life Insurance.
The company has also rolled out a solution through an app called Knowledgebase which help the sales teams to search and query on various products and processes in the organisation. Using this solution, sales team can get correct and accurate responses to their queries instantly while on the go.
Headquartered in Mumbai, IndiaFirst Life Insurance, with a paid-up share capital of Rs 625 crore, is one of the India's youngest life insurance companies. It is promoted by two of India's largest public sector banks – Bank of Baroda and Andhra Bank along with UK's leading risk, wealth and investment company Legal & General.
Bank of Baroda holds a 44 percent stake in IndiaFirst, while Andhra Bank and Legal & General hold a 30 percent and 26 percent stake respectively. Today, IndiaFirst Life is present in over 1,000 cities and towns across the country through over 10,000 points of sale. The company has garnered over Rs 10,858 crore of assets under management as on March 31, 2017.