Synthetic Intelligence now powers 45% of Policybazaar’s insurance coverage workflows, considerably enhancing pace, accuracy, and buyer satisfaction. Practically half (48%) of shoppers now obtain their insurance policies inside quarter-hour, down from the sooner common of 4 hours.
This shift has led to main operational good points:
- Early Claims Issue has improved 14 occasions, thanks to higher fraud detection when it comes to financial savings plans.
- AI chatbots now deal with over 30% of first-contact queries, up from 15% final yr.
- Ticket decision time has dropped by 15%, whereas buyer satisfaction (CSAT) has touched 94%.
- Assist tickets at the moment are routed with 84% accuracy utilizing AI-based tagging.
- Over 5 lakh personalised nudges are despatched day by day, elevating engagement and intent-to-buy by 20%.
Quick Issuance & Higher Fraud Detection
In February–March 2025, 48% of shoppers acquired their insurance policies in simply quarter-hour — an enormous soar from 1.3% in January earlier than AI was rolled out. AI can be serving to to flag 11% of time period plans and 16% of financial savings plans for potential fraud, thereby dashing up the processing of real claims.
Inclusive Entry
AI instruments now assist over 9 Indian languages and embrace voice-to-text and display reader options. These options assist customers in Tier 2 and three cities, in addition to aged and visually impaired clients, full their insurance coverage journeys independently.
Smarter Assist, Higher Conversions
Generative AI bots within the beta can clarify complicated insurance policies in easy phrases. This has boosted conversions by 5–8% through the product discovery stage.
In accordance with CTO Saurabh Tiwari, AI is reworking insurance coverage right into a proactive, personalised expertise that prioritises pace, entry, and readability — with the client at its core.
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