An MoU between Informatics International and HNB General Insurance (HNBGI) was signed on October 15, 2020, formalizing a collaboration to create a digital revolution in Sri Lanka’s insurance landscape. Most insurance operations have somehow managed to lag behind current trends for decades. HNBGI, already a top player in the field, is now raising the bar; which means that others will have to reach much higher in order to be competitive.
Informatics, a Sri Lankan based Tech company, with close to 40 years in the industry, boasts a clientele from 4 continents and a portfolio of digital expertise as diverse as e-government such as border control to several innovative solutions for the private sector and aligning with the global needs like cybersecurity. Their flagship solution for the insurance sector is InfoIns 2.0 – currently being implemented by HNB General Insurance.
InfoIns is an integrated, flexible, scalable, customer-centric, web-enabled end-to-end insurance software solution. Yes, it’s a mouthful, but what it does is provides HNBGI with the leverage to keep pace in a rapidly evolving market. This robust system enables the streamlining of the complete business process, giving efficiency and effectiveness a big boost and opening up opportunities to expand into new markets. Moreover, the adoption of the system will increase the level of transparency of the business and enhance the customer experience – which is great news for both corporations and individuals.
The classical phrase “Customer is king” has never rung true more than it does in today’s world of social connectedness. Modern customers expect the same level of service from the field of insurance as they do from retail. Namely, they want accurate and responsive service delivery whenever, wherever and through whatever method or device closest to them. Furthermore, they have the influence to dictate the terms. When customers are disappointed, their proclamations of disapproval can be broadcast effortlessly through the magic of reviews – which becomes the social proof that an increasing number of potential clients rely on when deciding future engagement.
Even a small traffic accident is often a tiresome (if not furiously frustrating) situation. So if your insurance agent handles your call swiftly, the closest assessor reaches you within minutes, and takes care of your assessment with a few taps on a fully automated mobile app, wouldn’t that help bring the level of tension down a few notches? This standard of operational capability, along with advanced document management, claim assessment and improved call centre functionality are some of the areas that HNB GI is aspiring to upgrade through their collaboration with Informatics.
The partnership between the two will also create a springboard for digital growth within the insurance industry in the next decade. Creating a new benchmark in convenience to the user when choosing policies, making or settling claims and every point in between. It will be interesting to see what the future holds; maybe in a few years, Sri Lankans will handle queries through a knowledgeable and friendly insurance expert who also happens to be powered by artificial intelligence.