Max Life Insurance Co has selected AWS as its cloud provider to become a digital life insurance company. Using the breadth and depth of AWS Cloud capabilities, including storage, computing, and data analytics, Max Life automated the issuance of new insurance policies, enabling customers to buy insurance in as little as 30 minutes. Max Life’s digital transformation has increased client loyalty and agent productivity. Agent productivity has improved by 40 percent. Furthermore, increasing Max Life’s cloud footprint from 18 percent to 40 percent has helped strengthen the company’s infrastructure robustness, which can now readily sustain business spikes, such as during new insurance product launches. Max Life customers benefit from a faster, more frictionless insurance experience with AWS digital services such as online premium payment alternatives.
Customers in India increasingly connect with businesses through digital channels, and they want faster and more personalized services, such as automated claims and disbursements. Max Life combines AWS Lambda, a serverless compute service, and Amazon Elastic Compute Cloud (Amazon EC2), which provides safe, resizable compute power in the cloud, to dynamically expand workflows to better support clients during peak periods. Max Life has constructed a data lake using Amazon Simple Storage Service (Amazon S3), an object storage service, to centralize and store the company’s structured and unstructured data at scale. This lake assists Max Life in better researching and developing new client services, as well as increasing operational efficiencies, allowing for improved customer interactions. AWS Glue, a serverless data integration service, consolidates and analyses anonymised customer data stored in the lake to provide Max Life with a 360-degree customer view for delivering customised customer experiences such as particular coverage at lower premiums.
Discussion about this post