HDFC ERGO General Insurance, one of India’s leading insurance companies, is partnering with Google Cloud to create a technology platform that will help digitize insurance purchasing and servicing in the country.
This new platform will enable HDFC ERGO to launch innovative product offerings, offer digitally enabled customer experiences, build more agile systems, leverage data to identify insurance risk, deliver personalized insurance products, and respond to regulatory changes in a quicker way.
Google Cloud will assist HDFC ERGO across customer experience, IT systems integration, data (including analytics, artificial intelligence (AI), and machine learning (ML)), and infrastructure—helping the company to build new digital applications and new insights from data. Built on Google Cloud, HDFC ERGO’s apps will be more efficient, agile, and responsive—and will work seamlessly with the company’s existing applications.
Speaking on this partnership, Sriram Naganathan, Chief Technology Officer, HDFC ERGO General Insurance, said, “Our innovation journey is guided by our goal to help customers, especially millennials, onboard the insurance journey early and secure their futures. As part of our digital-first and customer-centric approach, we’re continuously evolving how we develop and deploy software to provide customers new hyper personalized experiences through digital apps. Google Cloud enables us to efficiently unlock the full potential of HDFC ERGO’s wide insurance solutions through cutting-edge technologies and platforms to expand the development and deployment of products and solutions. This partnership underscores our commitment to delivering a seamless user experience by digitizing the customer journey end-to-end.”
“Enterprises around the world are realizing the benefits of adopting cloud technologies. We are thrilled to support HDFC ERGO in its journey to modernize its systems. With the power of data and analytics, HDFC ERGO can enable smooth customer journeys, stay agile, and deliver superior services,” said Bikram Singh Bedi, Managing Director at Google Cloud India.
HDFC ERGO will evolve its data strategy by bringing data into BigQuery, revamping its existing reporting by leveraging Google Cloud’s AI/ML technologies to build predictive insights. HDFC ERGO aims to be completely migrated to the cloud by 2024. The company’s vision is to reduce insurance fraud and build security for a sustained, scaled insurance ecosystem in the country.