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Max Life to Auto-Fill Policy Forms with Technology
November 23, 2018
Insurance giant Max Life Insurance is aiming to reduce the insurance issuance time from the current 30-35 minutes to just 12 minutes using technology. It’s going to launch a pilot project in which a bot can read a customer’s details by scanning their documents like PAN card and auto-populate the insurance proposal form based on the information.
Max Life Insurance’s Chief Digital Officer said that the technology will fill around two-thirds of the forms automatically. For the remaining details including medical history, the customers will be sent interactive SMS to which they can respond to in either “yes” or “no”. This is aimed to make the policy issuances faster and easier.
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