Tata AIG

Assignment: Reflection – Storytelling

Design Thinking Innovation (University of Virginia)

Javier Vega  6/14/2020

Reflection - StoryTelling

Challenge & Selection  I work for an Insurance company based out of India. My respective department is Innovation & Digital  Transformation. I work with the Analytics, IT and Business Teams closely to discover better ideas and  solutions to increase business efficiency and profitability. Our team comprises of 6 employees, each  from a different background and having multiple skill sets. In Insurance Industry, we are the risk takers  for any consumer and in exchange of Premium (Amount paid by the consumer to protect an asset in  case of any uncertainty), we assure them a promise. For the consumer, the only value that he/she has  from an Insurance document is the service. For us, customer satisfaction matters the most and is an  important component for us to renew that customer for her/ his future needs as well. The basic motto  of our department is to develop certain tools and methods to provide customer a seamless service in  purchase of policy and a efficient experience in claim settlement. A customer can have various claims in  his lifetime, like health, motor or any general Insurance Claim. Its our duty to be the best on the ground  and help the customer in all sort of ways. We give our best as an organization, but its always important  for us to keep our customer’s demand and expectations in mind too. It might be that we would be  thinking from an organizational point of view keeping profit / loss in mind, but its always important to  hear the customer too. During the Coronavirus Pandemic, we decided to have a conversation with our  golden customers and listen to them. Surprisingly, we came across a unilateral view that we were still  being a Traditional Insurance Company and we had great opportunities in the Digital Field. For us the  focus was now, not to be only an Insurance Provider but also a Tech savy company with digital solutions  on the go. We had to deliver digital solutions to the customer, where he could instantly claim for  settlement in case of any loss, i.e., the customer need not follow up with the helpline / customer care  executives or go to the Insurance Office with a lot of policy documents, but instantly receive a claim  settlement at the comfort of his location.

Selection  The reason for selecting the Story telling tool was intimating all the teams the consumer experiences.  We have a duty of covering their losses in case of any uncertainty and we wanted to view the digital  solutions that could be provided by the organization for digital claim settlement, efficiently and  paperless.

Application  We had a word with around 40-50 customers and all of them had a unilateral view of digital claim  settlement. No one wanted to get out of their home for any claim issues and wanted to solve it from  his/her place itself. We had a word with the IT Team and they said we would require a streamlined data  structure aligned with the company’s website with real time tracking of the claim. I remember giving  them an example of a lady who was in her mid 70s, she had to claim for her husband’s health expenses

and she was in a complete mess with respect to understanding the Claims Procedure and the steps to be  take for claim settlement. The TAT for any settlement is 7 days but it took 20 days for her to complete  this process. We had to design a structure which could instantly allow the user to upload all the  necessary documents on the portal and ask for a claim settlement on the go. It was difficult to start with  all the verticals together so we planned to take Motor Claims as a priority and started working on it.  There are various documents which are required from the Customer’s side for a motor claim and he/she  also has to travel to the Service Station for the Claims Process. We came on a conclusion to automate  the entire claim process. With the help of Business Teams, IT Team & our Customer Support Team, we  hosted a helpline, anyone who had a claim could just call on the given contact details and start the  procedure. The following steps were to be followed:

  Call the Helpline.

  Register the Claim, Mention Policy Details and the Insuree name.

  Provide the details of the Car’s location and if any assistance was required (car to be taken to  the service station/ picked up from home)

  Upload the necessary documents  on the web portal

  Track the claim

  Car drop to Customer after the claim being settled and the car being repaired

Insight  After this process being launched for our Motor Claim Vertical, we went on ground and had a feedback  session with all our Motor Claim customers. They all were very much satisfied and they also encouraged  us to start this process for all our verticals. We took it as a challenge and started thinking on various  modules on how we can provide value to the customer. We recently are building a customer’s app  which could help the customer raise a claim without calling the helpline and just uploading the video/  image of the car. The process would become more efficient and could help company save on various  expenses as well. It could make our company the first mover on Claim Surveyance, first in the industry  with Instant Claim Settlement Quotations. Though it needs a lot of data modeling and IT Support, we are  building are infrastructure for the same as this is the defined future.

Approach  For us as an organization, the StoryTelling Tool, really worked well. For any organization, its necessary to  listen to its customers and the services that they might be expecting for better brand building and  increasing sales as well. I think these customer experiences, mattered the most for all the teams and  they were working to achieve a common target, i.e., Customer Satisfaction.

Over the months, our customer base has increased rapidly. The customer is fully satisfied with the  services and we also have achieved an increment % in retaining our valuable customers. We are nomore  a traditional insurance company but a tech savy Insurance Providers.

