Thursday, February 16, 2017
IndiaFirst Life Insurance has announced its intent to place further focus on microinsurance products, as well as investing in big data, analytics and predictive modelling technologies for automated processes and using conversational bots to improve customer service.
The insurer will look to tap the microinsurance markets by tying up with microfinance institutions (MFIs), according to company Managing Director and CEO, RM Vishakha.
She said that by using technology, servicing the micro markets can be achieved at an optimal cost, adding that the potential there is enormous as the largest chunk of the population is at the bottom.
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