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HDFC ERGO, India’s third largest non-life insurance company in private sector has launched its mobile Insurance Portfolio Organiser (IPO) app for their policyholders on Apple Watch. It claimed to be the first insurer to launch an app on smartwatch. This app enables HDFC ERGO customers to access details and other information related to their policies at a tap on Apple Watch. “The IPO app on Apple Watch is first of its kind in the insurance sector where customer is able to explore host of insurance features through the smartwatch,” HDFC ERGO General Insurance Company’s Member of Executive Management & Group Head - Operations IT Online Business & Marketing, Mehmood Mansoori told ETCIO.com“Most important objective is to ensure that the customer always has all the insurance details whether one is at office or on move, so that there is no inconvenience at the time of emergency, for example hospitalisation,” said Mansoori.
This is a unique example how an insurer has used and experimented with wearable devices such as smartwatch to provide a new digital interactive channel to access information as well as services.In fact, as per IDC, though the wearables market in India is still at a nascent stage, over 5.67 lakh units were shipped in the second quarter of 2016, which is up by 42 percent than the first quarter. During the same period, India also accounted for about 1% of the global share of the smartwatch market, according to IDC. “We are seeing increase in customers connecting with us through digital channels because of the convenience it offers. Besides, it enhances the user experience and at the same time stays true to our brand promise to the customer,” added Mansoori.
The in-built notifications keep the customer updated on the status of various request. It’s intuitive and simple interface lets customers to avail various requests in self-help mode and thereby reducing their dependence on the call centre, according to Mansoori. From the insurer’s perspective, the self help service improves company’s operational efficiencies. In fact, Mansoori informed that company expect a large base of customers to move online in self service mode in next few years. The entire app conceptualization and designing for the smart watch was done in-house, but the development on Apple Watch platform was outsourced to a technology partner.
Among the key features, the IPO app allows policyholders to get quick, hassle-free and easy access to services related to their insurance policies. Through Apple Watch’s user-friendly and easily navigable dashboard, customers can access information like policy details, health card and also set policy renewal reminders through app. Its geolocate feature help users to instantly navigate to the nearby HDFC ERGO branch and in case of an emergency, it also helps them find and navigate to the nearest network hospitals and garages offering cashless services.
Further, users with just three simple swipes can view their policy details and with a simple touch can send their required policy documents to the registered email ID. Also, policy claims has been made possible with a single tap on the Apple Watch. In addition, a tap on “call for assistance” will dial-in HDFC ERGO’s official toll-free number, which makes IPO app on the smartwatch highly user friendly and easy.
“With this we are also trying to pass a message to our customers that it is important to carry important insurance details always with them. And in today's digital world you can keep those on our mobile app or smart watch. We will soon be launching one for android based smartwatches,” informed Mansoori. “Further we expect user base to increase, especially among the urban, health conscious population. By making the app available for Apple Watch users, we have expanded the potential user base of the IPO app,” commented Mansoori.
Though company launched its IPO app on Apple Watch today, it’s already been available for download on Android and iOS based devices since 2012, besides was made available on Blackberry and Windows based phones. “We have received great response from the users for the app, with over 1.85 lakh users on Android, 22.1k plus users on iPhone, more than 29.5k users on Blackberry and over 9.5k users on Windows enabled phones. The availability of IPO app for Apple Watch users will expand our user base help us focus on our customers – upwardly mobile, young, health conscious and tech-savvy individuals,”concluded Mansoori.
