HDFC Life
HDFC Life builds agile online data platform on AWS to enable smooth on-boarding for customers
MUMBAI – March 6, 2018 – HDFC Standard Life Insurance Company Limited, one of India’s leading private life insurers, has been at the forefront of adopting the latest in technology. This has enabled the Company to offer greater convenience to its customers, to provide an agile distribution platform and to improve efficiencies.
HDFC Life has leveraged Amazon Web Services (AWS) Cloud to create a new data platform, Atom, to analyze customer expectations and to engage meaningfully with customers on online platforms. The objective is to simplify the entire journey across multiple touch points – right from understanding a life insurance product to purchasing it.
HDFC Life created the data platform on AWS Cloud to facilitate an agile and a responsive solution to deliver a frictionless on-boarding experience to customers. AWS has robust data privacy, security and compliance measures in place, and its platform is designed, built, and regularly audited to meet the most rigorous compliance standards.
Mr. Subrat Mohanty, Sr. EVP & Head – Strategy, Operations, BS&T & Health, HDFC Life said, “Our objective is to enable customers make an informed decision and simplify the buying journey for them. Our digital platform Atom, powered by AWS Cloud, enables us to give customers a superior digital experience by helping them understand the benefits of life insurance and getting them started on their purchasing journeys. As a solution provider, AWS has provided us a platform that is complete, enterprise-ready, and meets the regulatory requirement of data security. We believe this platform will help us fulfil our objective and offer greater convenience to customers.”
Chandra Sankholkar, GM of Amazon Internet Services Pvt. Ltd. said, “By building their next-generation digital platform on AWS Cloud, HDFC Life is able to innovate more quickly on behalf of their customers. By embracing new technologies, HDFC Life is contributing to the Digital India vision of empowering Indian customers by providing them with a richer digital experience, and the information to help them make more informed decisions.”
About HDFC Life
HDFC Standard Life Insurance Company Limited ('HDFC Life' / ‘Company’) is a joint venture between Housing Development Finance Corporation Limited, one of India’s leading housing finance institutions and Standard Life Aberdeen plc (one of the world’s largest investment companies), initially through its wholly owned subsidiary The Standard Life Assurance Company and now through its wholly owned subsidiary, Standard Life (Mauritius Holdings) 2006 Limited.
Established in 2000, HDFC Life is positioned as a leading life insurer in India, offering a broad, diversified product portfolio covering five principal segments across the individual and group categories, namely participating, non-participating protection term, non-participating protection health, other non-participating and unit-linked insurance products. As on Dec 31, 2017, the Company had 33 individual and 11 group products in its portfolio, along with 8 optional rider benefits, catering to a diverse range of customer needs.
HDFC Life continues to benefit from its increased presence across the country having a wide reach with 414 branches and additional distribution touch-points through several new tie-ups and partnerships comprising 139 partners across traditional and non-traditional channels including NBFCs, MFIs, SFBs, etc. The Company has a strong base of financial consultants.
In Fiscal 2012, The Company established a wholly-owned subsidiary, HDFC Pension, to operate its pension fund business under the National Pension System (NPS). And in Fiscal 2016, the Company established its first international wholly-owned subsidiary in the UAE, HDFC International, to operate its reinsurance business.
For more information, please visit our website, . You may also connect with us on Facebook, Twitter, YouTube, LinkedIn, and other social media websites.
|Rehan Yasser, Corp Communication, HDFC Life |022 6751 6666, rehany@ |
|Nivi Bhatnagar, Index PR |9819775416, nivi.bhatnagar@indexpr.in |
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