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HDFC Life, one of India’s leading private life insurance companies, announced the launch of India’s first life insurance chatbot in collaboration with Mumba-based Haptik, India’s largest chatbot platform. The chatbot will act as a financial guide to help users choose the most suitable life insurance plans and solutions.

This chatbot aims to assist the customers with insurance advice – ranging from Health to Tax Planning & Retirement, based on a simple 60-second quiz which enables it to compute their Insurance Quotient. Calculated using different parameters under each insurance category, the Insurance Quotient is an indicative score for each individual, based on which, HDFC Life can recommend the best suited insurance plans for the user. The chatbot not only works as a personal financial advisor, but also brings to the forefront the universal need for life insurance.

The chatbot will be live for only two weeks from the date of its launch on the Haptik app, which is available on both iOS and Android.

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Talking about the need for this platform, Mr. Suresh Badami, CDO – HDFC Life, said “Many of us in our country, particularly the millennials, are under insured and need a simple platform to access relevant information about insurance.

We at HDFC Life have invested heavily in the adoption of cutting edge technology to offer insurance solutions across customer segments through multiple touch points. One such initiative is to pilot the use of artificial intelligence to act as personal assistant to the discerning new age customer. Haptik’s chatbot enables us to do this and reach the millenials through the medium that they are most accustomed to and are comfortable with”.

Aakrit Vaish, CEO, Haptik, added, “We are extremely excited to partner with HDFC Life to build the India’s first Life Insurance chatbot. We believe chat as an interface simplifies tons of complex everyday experiences, and nothing gets more complex than the process of understanding Life Insurance. HDFC Life was the ideal partner who understands the value a bot could bring, and timing it the financial year end made a lot of sense.”

To recall, in December human resource company Peoplestrong had introduced Jinie which is touted as India’s First HR Chatbot.

About Haptik

Haptik is India’s largest Conversational Commerce platform powered by chatbots. A personal assistant service, Haptik aims to redefine the way people get their everyday tasks done using the common chat tool as the underlying interface. Having partnered with leading players across various categories, Haptik leverages technology to become a one-stop mobile commerce platform. It aims to create an efficient chatbot experience assisted by humans to solve complex queries and complete end-to-end transactions.

This is the second big contextual chat-bot that Haptik has deployed on its platform in the last month. Leveraging its core Machine Learning & Artificial Intelligence based technology, this further builds relevance and strengthens their proposition of ‘getting real work done on chat.’ The company earlier did a Valentine’s Day gifting bot in partnership with Archies. Haptik leverages technology to become a one-stop mobile commerce platform. It aims to create an efficient chatbot experience assisted by humans to solve complex queries and complete end-to-end transactions.

[Top-most Image – Shutterstock]

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