The life insurance industry in India is projected to grow to $200 billion by 2027, according to India Brand Equity Foundation but this growth comes with a digital imperative as a recent EY survey reveals that 73% of policyholders now prefer digital-first interactions, forcing legacy players to accelerate their transformation roadmaps.
At Kotak Life, this shift has been spearheaded by a unique “hollow the core” strategy that’s delivering results — digital channels now handle 80% of service requests compared to just 25% pre-pandemic.
“In technology, you are constantly mapping uncharted territory — like navigating a jungle where every step could be a breakthrough or a bear trap,” said Kotal Life Joint President and CTO Kirti Patil, adding that phased modernisation approach is a way to go.
“We introduced new systems and features incrementally, allowing us to test thoroughly, ensure stability and prevent large-scale disruptions,” she told TechObserver.in Mohd Ujaley in an exclusive interview.
Edited Excerpts:
If I were to ask you to describe your 30-plus years as a technology leader in a single metaphor, what would that be and why?
I would describe my journey in technology as charting a map through a dense, unexplored jungle where every step forward is both a risk and a revolution. In technology, you are constantly exploring uncharted territories—new frameworks, emerging technologies, changing user behaviours—most of which no one has explored before. There is no blueprint. You rely on instinct, experience and the ability to learn fast.
The deeper you go, the more exciting it gets because every discovery has the potential to reshape how people live, work and connect. So, it is like charting a map through a dense, unexplored jungle.
What has been the most surprising twist in your journey so far?
I think it is very difficult to pinpoint one most surprising thing because I started my journey more than 30 years ago. At that time, implementing email in an organisation was a surprise—it was unheard of then. But if I were to talk about recent developments, I would say artificial intelligence stands out.
When I studied engineering over 30 years ago, AI was a subject we were taught. I knew about it, but the way the technology has matured, the pace at which it has evolved and how it is set to change the way we live, work and connect—that is the real surprise for me. How it has evolved and how we will coexist with it—that is going to be the biggest surprise for all of us.
Kotak Life has undergone significant digital transformation since you joined in 2003. What strategy have you found most effective in modernising applications and IT infrastructure?
The strategy we adopted—and one that has worked well for us—can be broken down into four or five aspects. First, we took a phased modernisation approach. We introduced new systems and features incrementally, allowing us to test thoroughly, ensure stability and prevent large-scale disruptions. A phased approach is crucial. We also conduct extensive pilots before scaling. Implementing on a smaller scale gives us the opportunity to learn, iterate and improve. If something doesn’t work, we can drop it rather than scaling it up and risking failure.
We also integrate monitoring and feedback mechanisms early in the process. Most importantly, communication is key for any transformation to succeed. We engage stakeholders, explain what we are doing, highlight potential pitfalls and manage expectations.
Let me give you an example. Most life insurers in India use legacy policy administration systems, including us. When we decided to modernise, we chose to “hollow the core” rather than replace it entirely in a Big Bang approach. First, we moved data from the policy admin system to a database accessible by other systems. Then, we built surround applications—starting with policy issuance, then underwriting and so on.
This approach has served us well. Even when modernising three-tier architecture applications to containerised or cloud-native solutions, we followed the same principle: start small and design well. Architecture and design are critical to any application’s success.
When evaluating new technology deployments, what parameters do you consider? Do you prefer being a first mover, or do you wait to assess use cases in other markets before adopting?
It is never about being the first mover or blindly emulating others. That approach doesn’t work for us. We start by assessing the business value a technology can deliver. If it enhances customer experience, improves efficiency or opens new channels, it’s worth exploring. Business outcomes come first—we are not a technology company, so we don’t get carried away by technology itself. Even if others have adopted a technology, if it doesn’t align with our business needs, we may not pursue it. Conversely, if a new, untested technology offers immense value, we explore it.
As I mentioned earlier, we experiment with pilots and small use cases. Success in these builds confidence—among technology teams, business stakeholders and sponsors. For example, we began our AI journey with conversational AI six or seven years ago. We tested multiple use cases with closed user groups internally and selected customers. Only after confirming the technology’s maturity and its ability to deliver customer value did we scale it. Being a first mover doesn’t mean jumping in blind—it means testing early, learning fast and scaling smart.
Do you see conversational AI becoming the primary customer experience channel in the near future?
It is absolutely happening. When we implemented it six years ago, we started with a few use cases and expanded. Then COVID hit. We didn’t even need to advertise it—customers and distributors, all at home, naturally gravitated toward this easy-to-use WhatsApp-based channel.
Earlier, only 25% of service requests were handled digitally, with 75% through branches or call centres. Now, roughly 80% of our services are digital. Conversational AI on WhatsApp works exceptionally well—not just for customers but also for distributors. It is intuitive—no training is needed for internal teams or customers. That has been a game-changer.
One challenge during the pandemic was the reduction in human touchpoints, leading to a loss of empathy—something inherent in face-to-face interactions. In insurance, customer interactions are limited—onboarding, renewals or claims. How do you design tech solutions that retain human empathy in a low-touch interactions environment?
Empathy is crucial—we are dealing with human beings, not machines. Technology and empathy are not opposites; they should coexist as complementary pillars of modern financial services. Technology provides scale and speed, but its true value lies in understanding and serving people better.
Here’s how we do it: We design systems with a “human in the loop” approach, ensuring customers feel heard, not just handled. Responses must be empathetic. We use design thinking, placing empathy at the core of development. We conduct focus groups with actual customers and consumers to understand their challenges and expectations.
While technology handles efficiency, we ensure customers don’t feel short-changed by automation. We also keep human support accessible—unlike some modern organisations that eliminate human contact entirely. Even if 98% of interactions are automated, customers should always have the option to speak to a person. That’s our philosophy—empathy in technology, but never eliminating human connection.
When leading large projects in a highly regulated sector like BFSI, setbacks are inevitable. As a woman leader and advocate for women in tech, how do you handle situations where things don’t go as planned?
This challenge isn’t unique to women—all CIOs and CTOs face it. But I appreciate you asking about setbacks—most only focus on successes. Transformations carry an emotional weight—excitement, but also resistance, fatigue and moments of doubt. Tech leaders champion a vision long before others see it. We deal with uncertainties, delayed outcomes and the pressure to deliver perfection while learning on the job. The repercussions affect many people.
Transparency is key—we communicate consistently about wins and setbacks. Managing team morale is equally important. If something doesn’t go perfectly, teams can feel demoralised. My approach is to remind them of the purpose—the “why” behind what we do. Staying focused on the North Star keeps us grounded. Another principle is progress over perfection. As a leader, I emphasise that failure is part of the journey.
Regarding gender—yes, women leaders often face additional challenges, especially when most stakeholders are men. But I don’t let gender define my interactions. If you are knowledgeable and true to your work, you can overcome any perceived barriers.
If you hadn’t pursued technology or engineering, what would you have been and why?
An interesting question. In school, I had many dreams—interior designer, architect—but those were fleeting. I think I would have been a teacher. In fact, I started my career teaching at an engineering college for two years before moving to the corporate world. I would have loved teaching something related to science— I am very logical and scientific. Not theoretical teaching, but practical, case-study-based instruction. Even now, I mentor girls in STEM and would love to teach school or college students. It keeps me connected with the youth.
