Google Cloud, HDFC ERGO team up to digitise insurance buying in India

Google’s cloud computing division is partnering with HDFC ERGO General Insurance to build a platform that will help digitize the buying and servicing of insurance in India, especially among millennials.

Through the platform, HDFC ERGO will launch innovative insurance products and offer digital and personalized customer experiences. It will also look to leverage data sets and predictive insights offered by Google Cloud’s AI and ML algorithms to identify and minimise fraud and other allied risks, and respond to regulatory changes more swiftly.

Google Cloud, in turn, will assist HDFC ERGO across its operations from customer experience and IT systems integration to data analytics and infrastructure.

Bikram Singh Bedi, MD at Google Cloud India, said, “Enterprises around the world are realising the benefits of adopting cloud technologies. We are thrilled to support HDFC ERGO in its journey to modernise its systems. With the power of data and analytics, HDFC ERGO can enable smooth customer journeys, stay agile, and deliver superior services.”

HDFC ERGO, which is among the insurance sector leaders in the country, aims to fully migrate to the cloud by 2024. At present, nearly 93% of its retail policies are issued digitally, and almost 40% of its customer requests are serviced virtually. 

Sriram Naganathan, Chief Technology Officer, HDFC ERGO General Insurance, said, “We’re continuously evolving how we develop and deploy software to provide customers new hyper personalised experiences through digital apps. Google Cloud enables us to efficiently unlock the full potential of HDFC ERGO’s wide insurance solutions. This partnership underscores our commitment to delivering a seamless user experience by digitising the customer journey end-to-end.” 

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