Bajaj Allianz Life Insurance Company Limited - Insurer Innovation Award 2023

1. WhatsApp Conversational Platform
Intelligent Customer Engagement through Conversational AI

2. Project Objective & Benefits
2
PROJECT OBJECTIVE
To empower customers to self-service their policies by providing
end-to-end digital servicing options across the customer
lifecycle right from on-boarding to renewals to pay-outs.
Instant Live Chat Support & Resolutions
24*7 Accessibility & Easy to Interact
Best-in-class & Intuitive Digital Journeys
PLATFORM BENEFITS
Customer Out-reach - Preferred Medium
Two-way Multimedia Exchange Capabilities
Policy Purchase
Life Insurance Products
Policy Servicing
Updates & Downloads
Easy Connect
Live Chat | Video Connect | Callback

3. Bajaj Allianz Life – WhatsApp Offering Snapshot
3
Reduction in cost per transaction by 9x
INTEGRATED CHAT SUPPORT
Industry-first to deploy real-time 24X7
Live Chat support & Video Connect
INTERACTIVE PLATFORM
Industry-first to deploy WhatsApp
templates to provide app-like
interface
INTUITIVE JOURNEYS
No need of Instruction Manuals Easy
to use & Interact
PROACTIVE COMMUNICATION
Intelligent reminder Nudges & policy
milestone updates on WhatsApp
CUSTOMIZED MULTIMEDIA
Industry-first to deploy WhatsApp to
provide Customized Images
AI ENABLED RESPONSES
Industry-first to deploy complex
NLP models & engine
Industry First Features – Life Insurance

4. Bajaj Allianz Life – WhatsApp Features & Services
4
Here’s why you’ll love this!
Things to do
Bajaj Allianz Life is always ‘Available’ – 24/7 X 365 (even on holidays!)
You don’t have to be a customer with Bajaj Allianz Life, we can still be friends.
Bajaj Allianz Life lets you get the following things done.
You can click each section for more details or type your query to get help.
Policy Servicing
Download Statements
Easy Payments
Get Policy Details
Explore Insurance
• Update Personal Details
• Track Fund Value details
• Register for Auto-payments
• Get Claim Assistance
• Check Service Request Status
• Download e-Policy Bond
• Get other policy related statements (Fund Value,
Account Statement/Summary, Bonus Statement etc.)
• Pay Renewal Premiums
• Check policy due date/premium amount
• Get latest Premium Paid Receipt
• Get policy information (Policy Status, Premium Term,
Policy start/end dates, Payment method/frequency etc.)
• Check Bajaj Allianz Life latest product(s) information
• Insurance Made Easy – Simplifying insurance terms
• Explore Insurance Calculators
• Call-back request for sales assistance
Easy Connect & More
• Live Agent support (24/7)
• Track your Application
• Video Connect i-Serv
• Locate nearest Branches
• Place a service call-back request
• Contact Us details
• Insurance Quiz

5. New-age Feature – Implementations in FY’23
5
Content Simplification
Convenient Self-Servicing Contextual Conversations Seamless Payments
BAJAJ ALLIANZ LIFE CUSTOMERS BOT – USER BENEFITS
WHAT OUR
CUSTOMERS LIKE?
• “The platform is easy to use”
• “Hindi conversations are useful”
• “Services can be called just by texting”
• “Informative and User-friendly”
• “Policy documents are easily available”
• “Prompt response & live agent interaction was helpful”
Industry First Features – Life Insurance
CUSTOMIZED IMAGES
Customized images for Fund Value
& Policy Information
VERNACULAR
Chat interaction support in Hindi
Expanding to Tier 3 & 4 cities
UPI PAYMENTS
3-click premium payments via preferred
UPI handles
DATA ENRICHMENT NUDGES
Contextual BOT nudges to capture customer
information
INSURANCE MADE EASY
Insurance simplification videos for insurance
awareness
VOICE NOTES
Implementation of Voice Messages
feature on WhatsApp
DYNAMIC NLP
Enhanced intelligence & accuracy through
dynamic intent mapping
April May June July August September October November December January February March
2022 2023

6. WhatsApp – Business Outcomes
6
26.6 Lac
(86% Active Customer Base)
WhatsApp User Opt-ins
14 Lac
Statement Downloads
2.4 Lac
Monthly Active Users (MAU)
₹ 6 Cr
Premium Assurance - Autopay
₹ 168 Cr
Premium Renewal Collection
12 Lac
Active Customers (Availed Services)
₹ 8.3 Cr
Policy Revival Collections
₹ 1.2 Cr
Converted Upsell Opportunities
30.9 Lac
Customer Service Transactions
98.6 K
Live Chat Resolutions
45.4 Lac
Proactive Policy Communications
(Payment Acknowledgement & Policy Issuance
Notification with Policy Bond)
>98.5%
ChatBot Accuracy
₹ 2.2 Cr
3-Click UPI Payment Collection
(1 month of launch)
4.77 Lac
Customized Image Responses
17.5 K
Data Enrichment - Proactive Nudges
1.2 Lac
Vernacular User Conversations
(2 month of launch)
Adoption & Platform Metrics Usage & Business Outcome Metrics
• Industry-first to collaborate with META & run personalized upsell/acquisition campaigns
• Working with META India for publishing a case study & success story as a coffee table book (promoted on ET channels)

7. Insurance Made Easy
Simplifying Insurance Terms
Smart Nudges - Data
Enrichment & Policy Milestones
Customized Images
Real-time Images
Seasonal Campaigns
Proactive Communications
Vernacular
Hindi Language Option
Geo Tagging
Location Based Mapping
Dynamic NLP
Recognizing User Intent
Voice Based Messages
WhatsApp Voice Notes
UPI Payments
3-Click Payment Journey
Product Catalogue
Simplifying Product Listing
Bajaj Allianz Life LongLife Goal-
A Unit-Linked Non-Participating Whole Life
Insurance Plan
₹ 2500
The price mentioned is the minimum monthly
premium & is dependent on policy terms &
conditions. For more details please refer to sales
brochure available on our website.
Advantages of opting for this plan:
• Retired Life Income
WhatsApp – Feature Snapshots

8. WhatsApp – Measure of Success
6
CUSTOMER SERVICE EXCELLENCE
• Customer Platform Opt-ins: 26.6 Lacs
• Active Customers (Availed Services on
Platform): 12 Lacs
• Monthly Active Users: 2.4 Lacs
New WhatsApp services positively
impacted customer experience with
real-time query resolution through
BOT. Adoption grew to 26.6 lac
customers, with monthly traction
(MAU) of 2.4 lac users, indicating
high customer trust. Positive
feedback received, platform rating
maintained at 4/5.
• Customer Service Transaction: 30.9 Lacs
• Statement Downloads: 14 Lacs
• Live Chat Resolutions: 98.6 K
• Customized Image Responses: 4.77 Lacs
• Vernacular Conversations: 1.2 Lacs
PROCESS EFFICIENCIES &
PRODUCTIVITY
WhatsApp servicing BOT improved
CX productivity by serving multiple
customers simultaneously with real-
time query updates, decreasing
follow-up interactions and reducing
branch walk-ins and inbound calls.
Particularly helpful for insurance
agents to provide transparent and
user-friendly access to information,
increasing customer trust.
• Renewal Premium Collection: 168 Cr
• Policy Revival Collections: 8.3 Cr
• Premium Assurance – Auto-pay: 6 Cr
• Converted Upsell Opportunities: 1.2 Cr
BUSINESS OUTCOMES & NEW
REVENUE STREAMS
WhatsApp business advancements
and relaxed engagement guidelines
allowed businesses to transition
from servicing to revenue source.
We utilized this by hosting payment
and auto-pay journeys for higher
persistency rates and customer
renewals. Also, introduced customer
data enrichment use-cases to drive
targeted upsell campaigns with best-
suited products for customers.

9. Thank you