Magma HDI General Insurance’s digital approach in the COVID-19 pandemic

February 24 12:24 2021
Magma HDI General Insurance’s digital approach in the COVID-19 pandemic

The COVID-19 pandemic that started as a health crisis has turned into an economic one. Companies across sectors are struggling to stay afloat. There has also been a decline in the insurance sector largely due to operations-related business challenges posed by the crisis. Although, this uncertainty has also given employers time to think deeply about innovation, better customer experiences, cost restructuring, and improved well-being of personnel.

At a time like this, Magma HDI has leveraged its technological might to the fullest. With a monthly rate of issuance at 1.3-1.4 lakh policies including renewals, the introduction of RPA in policy issuance has reduced the TAT by 91%. It has also improved the quality of services to intermediaries and customers. Within motor insurance, more than 40% of motor claims are being handled through its video streaming App ‘iSurvey’. On the health front, the Magma HDI Health offers assistance to customers for submitting soft copies of claim documents, taking tele-consultations, getting medicine delivered at home, etc.

The company’s agents are present in 300+ districts across the country. They are connected to self-service platforms and can manage transactions in real-time without getting in touch with any branches or employees. The company has also been engaging with customers and intermediaries by informing them about their business continuity plans and post-lockdown measures through emails and text messages. Moreover, the official website www.magmahdi.com has a dedicated COVID-19 page with informative blogs and FAQs.

The company has its heart in the right place. None of the above-mentioned process automations have caused any job losses, and teams have been realigned instead. Magma HDI has also implemented other soft practices to help employees navigate through these stressed times. The company has been transparent and empathetic and has been regularly engaging the personnel, communicating through internal-messaging platforms and town halls, giving regular updates about the outbreak and its impact on the company, along with its response to various challenges.

Awareness and preparedness through health insurance is extremely important. OneHealth, Magma HDI’s flagship health insurance product covers hospitalization expenses arising due to COVID-19. The company also offers Corona Kavach. With all the above measures, Magma HDI is committed to making the lives of people of all the communities it services worry-free.

About Magma HDI General Insurance Company Limited:

Magma HDI General Insurance is a joint venture between Magma Fincorp Limited and HDI Global SE, Germany. The company offers an array of general insurance products for retail and institutional clients. In the retail segment, it offers motor, health, individual personal accident, and home; and for corporates, it offers property, fire, marine cargo, liability insurance, and more. With humble beginnings in 2012, today Magma HDI is 160+ branches and 1000+ employees strong and has serviced 40 lakh+ customers till date.

For more information, visit: https://www.magmahdi.com/

Media Contact
Company Name: Magma HDI General Insurance Company Ltd.
Contact Person: Ms. Diana Monteiro
Email: Send Email
City: Mumbai
State: Maharashtra 400022
Country: India
Website: https://www.magmahdi.com/

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