HDFC Life, India’s leading long term life insurance player, has been recognized by CIO magazine as a 2013 CIO 100 Award Winner for its innovative Point of Sale tool – CLICK2BUY. The 26th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).
HDFC Life will be recognized at the CIO 100 Symposium & Awards Ceremony, to be held Tuesday evening, August 13, 2013 at The Broadmoor in Colorado Springs, Colorado.
Speaking on this achievement, Thomson Thomas, CIO and SVP - Business Systems & Technology, HDFC Life said, “It’s a great honour to be selected as one of 2013 CIO 100 Award Winners. This recognition is for yet another innovation, CLICK2BUY, a step towards encompassing the entire journey from 'need based selling' to 'demat policies'. It is a sales tool with the objective of simplifying the insurance purchase process for customers, helping our sales team to submit a zero-defect proposal online via Internet.”
"For 26 years now, the CIO 100 awards have honored the innovative use of technology to deliver genuine business value," said Maryfran Johnson, Editor in Chief of CIO magazine & events. "Our 2013 winners are an outstanding example of the transformative power of IT to drive everything from revenue growth to competitive advantage."
Click2buy is driven by a state of art rule engine, which ensures that every question required for underwriting a proposal is asked up-front. On clicking the submit button, the underwriting decision or medical reports required to underwrite are communicated up-front to customers. The system sends an email to the customer with the copy of the proposal form immediately on submitting the proposal. In other words Click2buy enables the company’s sales team to underwrite and communicate the decision or requirement up-front right at the Point of Sale.
This system is already proving to be a game changer for HDFC Life and has won the Asian BFSI Award 2012 in the ‘Underwriting Initiative of the year’ category, Celent Model Insurer Asia of 2013 and Celent Model Insurer in Underwriting Category.
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