365Telugu.com online news, November 9th,2024: The digitalization of the insurance sector has streamlined the entire process, elevating customer awareness and combining cutting-edge technology with a human touch to create a more accessible, personalized experience for all.
PolicyBazaar’s brand, PBPartners, exemplifies this transformation by seamlessly blending technology with personalized service. This approach not only simplifies the journey for agent partners but also empowers customers across the nation. In a recent discussion, Mr. Shwetabh Walter, Chief Product Technology Officer at PBPartners, highlighted how digitalization has transformed the company’s foundation, allowing it to lead with innovation while keeping a human-centric approach at its core.
Connecting with “Bharat” and Reaching Diverse Communities Nationwide
A significant portion of PBPartners’ agent network hails from Tier-2 and Tier-3 cities, which plays an important role in connecting with “Bharat” and reaching diverse communities nationwide. Operating largely through digital channels, PBPartners has successfully deepened its reach and impact in these regions, making insurance services more accessible and inclusive for customers. This commitment to accessibility and digitalization shows PBPartners’ role in bringing essential financial services closer to every corner of the country.
Overcoming Challenges in Tier 2 & Tier 2 Cities with Technology & AI
From the start, PBPartners has aimed to make insurance more accessible in India’s semi-urban and rural areas, addressing unique challenges along the way. One major hurdle in these regions is that many insurance documents come in regional languages, making processing a complex task. By introducing AI & advanced technology, PBPartners has made this process smoother and faster, translating and standardizing documents with high accuracy to ensure information is correctly filled in proposal forms.
Mr. Shwetabh highlighted, “With AI-powered image recognition, users can now simply upload their documents directly through apps or even WhatsApp, saving time and effort. This innovation has reduced the need for manual work, speeding up the process while minimizing errors. By blending advanced technology with a human-centered approach, PBPartners is enhancing the experience for users, making insurance more convenient and accessible in Tier-2 and Tier-3 cities”.
Enhancing Accessibility and Engagement for Agent Partners
PBPartners ensures that agent partners and relationship managers are readily available by simplifying key processes. With the convenience of requesting quotes, accessing On-Demand Payouts (ODP), and chatting with service agents—all through WhatsApp, a platform familiar to nearly all agent partners, PBPartners has seen impressive increase in engagement and effectiveness in meeting agent partners’ needs.
As Shwetabh mentioned, “WhatsApp is integral to our ecosystem, encouraging our insurance agent partners to be digitally driven and well-connected. In motor insurance, for instance, the AI-driven tool PB Inspect enhances accuracy by assessing damages and verifying underwriting details. Through live video sessions with customers, this AI analyzes “liveness,” ensuring that all captured information is accurate and up-to-date. By integrating such advanced tools, PBPartners not only simplifies processes but also builds trust, supporting agent partners in providing reliable service to customers”.
Empowering Agent Partners with Digital Solutions
PBPartners’ digital platforms empower customers to make well-informed decisions, offering an easy way to compare products at one place and choose with confidence. PBPartners also support its agent partners, helping them build expertise in areas like new product launches and sales strategies. A standout initiative is Digishala, PBPartners’ dedicated learning platform, which keeps agent partners up-to-date on the latest industry trends and company initiatives, enhancing their knowledge and skills.
Additionally, PBPartners’ On-Demand Payout (ODP) feature allows agent partners to withdraw their commission amount anytime they need, offering financial flexibility. The timely reward cycle also strengthens the trust of agent partners in the brand, encouraging a sense of reliability and partnership that reinforces their commitment to the platform.
With its commitment to innovation, accessibility, and personalized service, PBPartners is poised to lead the way in transforming the insurance landscape, ensuring that every individual, regardless of location, has the tools and support they need to make informed, confident financial decisions.