Bharti-AXA has been an esteemed client of Talisma for the past 15 years. Talisma's expertise and commitment to customer satisfaction have made them a reliable partner for Bharti-AXA, and the company continues to enjoy the benefits of its partnership.
Recently, under their partnership with Talisma, Bharti-AXA has been able to relook at their customer journeys. As part of this project, 20 policy servicing journeys have been reworked, and the project enabled a 360-degree transformation of physical services into digital services. The new digital roadmap allows customers to service their policy online in a few clicks.
This innovative customer service journey reinforces Bharti AXA's core value of keeping customers first, and the company looks forward to further collaboration with Talisma for continued excellence.
Barriers faced by Bharti-AXA
With rapid digitization in the recent past, partly accelerated by the COVID-19 pandemic, it became crucial for companies to digitize their operations, especially customer-facing operations. Bharti-AXA thus needed to relook at their customer journeys and reduce query resolution time for customer issues. Today's customers need quick and hassle-free ways to access the services they pay for, for which digitization has become a key solution.
Bharti-AXA thus developed a digital transformation strategy for their future vision. Under this vision, they would relook and digitize customer journeys, keeping in mind that they always aimed to develop customer-centric products and solutions.
At this juncture, they needed a solution provider who could understand their challenges and ensure that their processes could be relooked and implemented in a digital-friendly manner.
Solutions provided:
This is where Talisma stepped in, to deliver a solution that could achieve Bharti-AXA's customer-centric digital transformation vision. Talisma helped them in achieving their vision of relooking customer journeys for the future.
The project was aimed at digitizing the customer servicing journeys – by providing an SVoC (Single view of Customer) for multiple teams, and digitization of workflows.
SVoC (Single View of Customer):
- This screen gives holistic view to the users in the call centre, branches and policy servicing teams among other Back-office Teams using Talisma.
- It eliminated data silos and prevented customer service agents from toggling between multiple systems, even for minor tasks.
- This involved integrations between multiple systems, such as the Core Policy Administration system, Centralized Communication Management system, Agent Management systems, new business applications and other periphery applications.
Digitization of workflows:
As part of the digitization of the Customer Servicing journeys, Talisma has automated large amount of the processes like:
- Policy Surrender process
- Partial withdrawal
- Mobile & Email ID update
- Change in address permanent or communication
- Mode & method change.
- Fund switch
- Bank details update
- Loan process
How the solution impacted Bharti-AXA
Many policy servicing journeys have been re-considered, and the project has enabled a 360-degree transformation of physical services into digital services. The digital roadmap allows customers to service their policy online in a few clicks.
The project also offers front-desk employees a single-screen view of customer and policy information, enabling them to provide timely and efficient service to customers. This has led to a 33% decrease in time to serve their customers.
Customers can now easily update their contact details and undertake other policy-related tasks such as switching funds, surrendering their policy, and applying for a loan through the company's customer-centric portal. All these services can now be accessed from Bharti-AXA's main website.
As a result of implementing a single-screen view of customer and policy information through the above-mentioned integrations, a notable 30% increase in the NPS has been witnessed by Bharti-AXA for their client service.
Consumers' needs have changed as a result of the changing times, and digitalization has made it simpler for them to access essential services while getting rid of manual procedures. The time and effort of customers were the focus of the project.
By investing in Talisma's digital capabilities, Bharti-AXA has been able to improve customer service journeys and TAT, while also mitigating the risk of fraud. The updated digital processing system is designed to meet the demands of customers' busy lifestyles, providing them with a fast and hassle-free way to access services.
Benefits of the solution
- 360 degree — Transformation of workflow processes
- 33% — Decrease in time to serve customers
- 30% — Increase in NPS rating