HDFC Life has partnered with Haptik to launch India’s first life insurance chatbot that will help customers with their queries.
Before using the bot, customers will have to complete a 1-minute quiz that will help the computer programme evaluate their IQ – Insurance Quotient. The quiz will assess an individual’s insurance needs based on various factors. The bot will give customers advice on insurance products based on the evaluation of the Insurance Quotient score.
The chatbot – a kind of artificial intelligence programme that behaves like a human on chat – will be available in a couple of weeks on the Haptik app. Haptik is India’s largest chatbot platform.
The current generation is very comfortable with chatting, and both HDFC and Haptik are cashing in on the opportunity that technology provides, in order to reach out to more people. “Many of us in our country, particularly the millennials, are under-insured and need a simple platform to access relevant information about insurance. Haptik’s chatbot enables us to do this and reach the millennials through the medium that they are most accustomed to and are comfortable with,” said HDFC Life CDO Suresh Badami.
Haptik CEO Aakrit Vaish said, “We believe chat as an interface simplifies tons of complex everyday experiences, and nothing gets more complex than the process of understanding Life Insurance. HDFC Life was the ideal partner who understands the value a bot could bring, and timing it the financial year end made a lot of sense.”