New Delhi: Tata AIA Life Insurance (Tata AIA Life) has tied up with East Consultancy Services to offer Aadhaar based, offline e-KYC service for seamless customer on-boarding during online application process for its life insurance solutions. The initiative will further help Tata AIA Life in going paperless by eliminating the need for physical documents viz. proof of identity, address and date of birth for ‘Know Your Customer’ (KYC) process when the customer opts for this service. This will make Tata AIA Life’s end-to-end digital sales system, which enables remote purchase of its life insurance solutions, more efficient and is also in line with the measures to combat the Covid-19 pandemic.
By minimising the use of physical documents, the service will not only reduce time and effort involved in the application process, but also ensure that consumers can buy life insurance solutions from the safety and comfort of their homes. Apart from enhancing consumer convenience and ensuring their safety, it will also ensure the safety and security of their important personal documents, as customers will no longer be required to provide physical KYC documents.
Speaking about this service, Mr. Yusuf Pachmariwala, Executive Vice President & Head of Operations, Tata AIA Life Insurance said, “Customer convenience and Ease of Doing Business is at the root of everything that we do. Even during the extremely challenging lockdown, we were able to keep our promise of serving our customers by swiftly transitioning our processes to virtual mode. With the smart use of advanced technologies, we ensure speed, agility and security in our transactions. The e-KYC technology is especially helpful in the current scenario of maintaining physical distancing. It further underlines our continuous effort to enhance consumer experience without compromising on their security and safety”.
Tata AIA Life has already introduced several Ease of Doing Business (EoDB) initiatives to support its ‘Customer First’ mission. The initiatives like Bank KYC, Digital Pre-Submission Calling (PSC), Tele and Video Medical Examination Report (MER), Online Permanent Account Number (PAN) and Bank account validation, Robotic Process Automation (RPA) and Optical Character Recognition (OCR) has made the process of buying life insurance simple, convenient and paperless.
Tata AIA Life will soon extend the service for verification of the agents, as part of ‘Know Your Agent’ (KYA) requirement.
Tata AIA Life will use East Consultancy Services’ integrated offline KYC (ECS OKYC) solution to offer Aadhar based offline eKYC service. The Bangalore based company was founded in 2014 and it specialises in offering highly scalable transactional platforms, designed around Aadhaar ecosystem, OCR and Enterprise digital signing solutions.
Comments are closed.