Bharti AXA Life Insurance wins Finnoviti Award 2020 for Excellence in Innovation

Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India's leading business groups, and AXA, one of the world's largest insurance companies, has been conferred with the prestigious 'Finnoviti Award 2020' for excellence in innovation and its innovative digital solution eASE that enables seamless onboarding process to customers, distributors and all internal stakeholders.

The honour was bestowed upon Bharti AXA Life Insurance at the recent 9th edition of Finnoviti Award 2020 for its end-to-end digital sales enabler eASE to every milestone of the customer's onboarding journey, right from product suitability assessment to premium calculation and payment and e-policy issuance.

eASE is the first-of-its-kind and the fastest implemented technology-enabled initiative which reduces long turnaround time for a policy with just 90 seconds decision and 30 minutes issuance. It is also designed to inform customers about the status of their proposals on a real-time basis.

"We are betting big on innovation in our growth journey and are happy to be recognized for distinction in innovation, which has become a critical factor for us in mobilizing transformation across our operational spectrum. The Finnoviti Award is a real testament to our fresh and advanced solution - eASE - that addresses the right unmet needs and helps customers, distributors and all internal stakeholders get their jobs done better and faster,'' said Vikas Seth, Managing Director and Chief Executive Officer.

"It is indeed an honour for us to be conferred with the Finnoviti Award and recognized for virtuosity in implementation and use of new-age technology for customer and business benefits. The novel digital offering e-ASE commemorates team efforts towards delivering enhanced performance, value addition and superior customer service in line with our corporate ethos of customer-centricity," said Ishita Mukherjee, Chief Operating Officer, Bharti AXA Life Insurance.

"We believe this recognition will motivate us to raise the bar even higher and offer best-in-class insurance products and services to our customers,'' Mukherjee added.

She said eASE is a digital workflow-based system available on the internet as well as intranet with the capability of both online and offline use, thereby, facilitating 'Anytime, Anywhere Login and Policy Issuance'.

Bharti AXA Life Insurance intends to digitally transform its new business and underwriting processes alongside building the ecosystem to allow policies to be sold on any device, anywhere with straight-through processing right from policy suitability assessment to the application, underwriting and issuance stage.

The Finnoviti Award strengthened the company's position further for driving digital transformation initiatives successfully in its operation.

As many as 50 companies from the BFSI sector participated in the Finnoviti Award, organized by Banking Frontiers, which recognises and rewards innovations and honours the innovators in the banking, financial services and insurance industry.

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