New Delhi, July 7, 2025(ANI): Alok Bansal, Co-Founder of PolicyBazaar, recently discussed how the company is leveraging Artificial Intelligence (AI) to enhance customer experiences and strengthen cybersecurity in response to growing digital demands.
00:00See, if you look at incidence as a sector generally, you would need to have customers who understand the product and you will have to have insurance companies who understand the risk of the customer.
00:11And when you think of AI or any technology, it is a very big enabler to get that in place.
00:21Basically, you are trying to make the whole ecosystem more honest and how do you use AI or any technology towards that purpose.
00:28That's the first part. So you are able to understand the risk of the customer better. You are able to explain the product better.
00:38And overall, because of that, you are able to create small customer segments and the right product for the customer segment.
00:45The second part and very big part of AI and all the tech that we use is how do you become more efficient with time?
00:52You know, because we are a very high touch model, whether it is your call center operations, whether it's your claim operations, any servicing operated stuff, endorsement of the policies.
01:02A lot of that stuff can be automated to a certain extent using tech.
01:07That doesn't mean that human involvement will go away, but you are able to make them more efficient and you are able to train them better because you have access to the technology.
01:19So I think AI is definitely going to have a big impact in every sector including finance services because finance services requires both sides to interact a lot more.
01:31And this is not usually a one time interaction. If you are taking a credit product, if you are taking an insurance product, investment journey, you interact multiple times between the person or company who is providing the product and the person who is consuming the services.
01:46So I think the role of tech and AI in finance services and healthcare, I think these are two biggest areas which will get impacted and which will utilize these services.
