Shifting towards conversational interfaces

Manu Lavanya, Director & Chief Operations Officer, Max Life Insurance, speaks about the strategy implemented towards driving the next phase of ‘Deep Digitization’ in the organization.

- Mehul Dani

Mehul Dani: Can you take us through Max Life’s digital strategy? Please update us about usage patterns of digital platforms.

Manu Lavanya: Max Life’s longterm digital strategy is built on 3 distinct key stakeholders: customers, sellers and employees. From a customer perspective, the strategy aims to create intuitive and impactful digital experiences by addressing the demand of new customers as close to place and time of desire of being insured, providing superior customer and seller experiences through frictionless onboarding, adaptive on-demand and self-service driven customer and seller engagement and fulfilling the promise of insurance at the time when the customers need the company. From an enterprise perspective, we want to develop a workplace of tomorrow by creating an enterprise with a ‘Digital Mindset’ that inspires gen-Z and millennial workforce. This strategy will be fueled by building a digital culture, which supports innovation, digital skills in the organization and a technology foundation, which is flexible and scalable.

Over the last 5 years, we have invested significantly in creating innovative digital platforms. Today, almost 80% of our business transactions are done on digital platforms with almost 100% of our business onboarding, recruitment and skilling and prospecting happening digitally. As covid hit us in April, we were able to transform all of our selling processes on to digital platforms in a matter of weeks.

To what extent technology will be an enabler in the foreseeable future for your company?