Google Cloud results

• Helps enable instant document approval with optical character recognition by Vision API
• Processes 100,000 documents in 20 minutes with automated document processing product Recognic, powered by Vision API and Apigee
• Helps increase the number of applications processed by 30% within the same timeframe

The insurance landscape in India has seen significant changes in recent years with the adoption of new technology. As one of the major insurance providers in the country, ICICI Prudential Life Insurance has aimed to lead in this transformation journey. “There has been a data explosion across India over the past few years, together with a high mobile penetration rate. Today, about 60% of our customers approach us via mobile, for example, which was certainly not the case before,” says Alpesh Karnik, SVP, IT, at ICICI Life Insurance.

Consumer expectations have also evolved, with easier access to information and online services. “Consumers today are more informed on the importance of investing in insurance products, so there’s much more of a pull factor when it comes to sales, but they also want to be able to get these products quickly and easily,” adds Alpesh. To meet the demands of these consumers, ICICI Prudential Life Insurance realized it needed to make its processes even faster and more efficient. Looking to upgrade its infrastructure, the company turned to Google Cloud.

“The biggest benefit of using Recognic and Vision API is that it eliminates the initial waiting time, which can result in drop-offs. Now customers can know immediately whether their documents are sufficient, or if they need to revise or submit any others.”—Alpesh Karnik, SVP, IT, ICICI Prudential Life Insurance

Serving customers better by speeding up processes with Google Cloud

ICICI Prudential Life Insurance’s distributors were already using tablets to input customer data faster and more efficiently, but many of the company’s solutions still required a team at the back end to manually sift through documents for approval. This meant that customers needed to wait five or six hours, or sometimes until the next working day, to know if their documents were approved or needed revision.

That all changed after partnering with Google Cloud Premier Partner Searce to take advantage of its AI/ML powered automated document processing product Recognic, which is built on Google Cloud. Developed using the optical character recognition (OCR) capabilities of Cloud Vision, Recognic reads, understands, and validates documents at scale, enabling organizations that handle massive amounts of paperwork to digitize these documents and then accurately store and index them.

“Google Cloud has cut down the middle- and back-office work, leading to a 30% increase in the number of applications we can process in the same time span without the need for additional resources.”—Alpesh Karnik, SVP, IT, ICICI Prudential Life Insurance

“In the case of ICICI Prudential, the biggest benefit of using Recognic and Vision API is that it eliminates the initial waiting time, which can result in drop-offs. Now customers can know immediately whether their documents are sufficient, or if they need to revise or submit any others,” Alpesh adds.

Alpesh explains that if the details on the application form match the documents provided, the case doesn’t need to go to the underwriter for further checks and can go directly to policy issuance. “Google Cloud has cut down the middle- and back-office work, leading to a 30% increase in the number of applications we can process in the same time span without the need for additional resources.”

ICICI Prudential Life Insurance is also working with Searce to build deep learning models into Recognic so that it can overcome template barriers and input data from a variety of forms. This is particularly helpful for financial and medical documents underwriting because unlike a passport or driving license, financial documents have a higher structural complexity.

As customer data becomes more important in the work of ICICI Prudential Life Insurance, so does protecting it, and the company is taking every measure to safeguard the security and privacy of its customers’ information. “Details of customers’ contactability are automatically removed by Google Cloud after processing is complete. This step in the workflow gives us the confidence that data is not stored at any level of the optical character recognition process,” says Alpesh.

Partnering with the right teams for dedicated support

In achieving the best solution for its business goals, ICICI Prudential Life Insurance recognizes the importance of its decision to work with partners that truly understand the insurance business. “There are many intricacies involved in this business, and it’s clear that both Google Cloud and Searce really took the time to understand our underwriting processes before coming up with a solution,” says Alpesh. He adds that during the implementation process, all findings were well documented and queries were responded to quickly.

“We didn’t want to take any shortcuts deploying Recognic, but at the same time, we didn’t want to draw out the implementation process. The excellent support from both Google Cloud and Searce throughout the journey was reassuring for us as they were always thinking ahead.”

Future-proofing the organization through machine learning and AI

In the coming years, Alpesh foresees the insurance industry to be even more agile than it is today. “I doubt elaborate processes such as underwriting or operations checks will need to be done manually in the future. Everything will be done through machine learning and AI.” In light of this, ICICI Prudential Life Insurance is doing everything it can to prepare, as customers’ expectations are set to keep evolving. “We have to be prepared for the future, and I believe that with Google Cloud, we can do it.”

About ICICI Prudential Life Insurance

ICICI Prudential Life Insurance aims to lead the Indian insurance field through quality products and a hassle-free claim settlement experience. A customer-centric company, it offers long-term savings and protection plans to meet customers’ needs at every stage of life.Industries: Financial Services & InsuranceLocation: India

About Searce

Searce is a niche cloud consulting business with futuristic tech in its DNA, focused on “realizing the Next in the Now” for its clients. Specializing in cloud data engineering, AI/ML, and ad

Last June, in the early months of the pandemic, we expanded Business Messages to support all kinds of businesses, from pharmacies and grocery stores to airlines and luxury brands. Then, in December, we announced the ability for small businesses to use the Google Maps app to message with their customers. We knew people would find messaging directly with businesses from Google Search and Maps helpful, but we didn’t know just how valuable it would turn out to be. 

Consumers are increasingly eager to use messaging to connect with brands, and businesses across all industries are now building innovative messaging experiences to address that growing need. The demand from consumers is reflected in recent data:

• 45% of users have spent more time on messaging services because of the pandemic
• 85% of consumers would like to message brands directly, up from 65% in 2019

Being able to message a business directly has never been more important. For me personally, there’s nothing more fulfilling than using technology to help people in the moments that matter. After the release of initial COVID-19 vaccines in late 2020, online searches for vaccines reached an all-time high. To help people searching for vaccine eligibility, availability, and appointment booking, Albertsons Companies’ banner pharmacies—like Albertsons, Safeway, and Vons—made this information easily accessible through Google Search and Maps via the “chat” button. This  gave people the information they needed, when they needed it.

To be more helpful in moments like these, over the last year, we’ve made Business Messages available globally, in more than 70 languages, and we’ve seen more than 30,000 brands and 200 partners come on board. Major brands like Carrefour, Walmart, and Woolworths have invested in Business Messages to help serve their consumers in new and meaningful ways. 

Expanding the conversation between consumers and brands

The retail sector has undergone a transformation since the start of the pandemic. As a result, we know it is critical for digital services to integrate with physical stores. We were able to do just that with Google’s Business Messages, which has been instrumental in helping better serve our customers across 1200+ stores in Europe.Thomas Rudelle
Global Digital Marketing Director, Carrefour

There were major shifts in consumer behavior during the pandemic, from the way people found and purchased products to the ways they interacted with businesses. Not only did we see higher demand for direct contact with brands, but retail searches also surged. At the end of 2020, retail searches grew at a rate that was more than three times higher than the same period in 2019 (based on Google internal data).

As Business Messages has become more widespread, brands are able to boost both responsiveness and customer satisfaction using the service. Levi’s, for example, surpassed 85% customer satisfaction scores using Business Messages and they discovered that the service drove 30x more store-related questions than web chat.

Many brands have also digitized what were traditionally in-store experiences, especially in high-consideration categories like jewelry. For example, Signet brought its virtual jewelry consultant to Business Messages, offering customers advice and answering queries in a way that’s convenient but still feels personal.We started using Google’s Business Messages pretty early on, and continue to transform and improve our experience. The ability to let customers know whether a product is in stock, and its precise location, is critical to offering a connected and frictionless shopper experience. Of course it also helps reduce the workload on our store and customer hub teams.Nick Eshkenazi
Chief Digital Technology Officer, Woolworths

As a working mother, these sorts of innovations have made a direct impact in my own life. I find it very helpful to be able to ask—and get real-time answers to—everyday questions using Business Messages, ranging from store hours and product availability to order status and how to make returns. One of my favorite features is the ability to know, in real time, what store wait times are like, and the exact location of the product I’m looking for, saving me precious time when I visit the store. 

Business Messages helps people do more with their time in other ways as well. Earlier this year I’d been meaning to change my insurance plan, but kept pushing it off because I didn’t want to get on a phone call. I can now message Geico to update my policy through the agent pretty effortlessly. Similarly, in India, Vi customers can use 24×7 real-time customer service to chat with their AI powered virtual assistant VIC, integrated with Google’s Business Messages, to check billing information, activate packs, add recharges and payments, check balances, and much more—and it all happens seamlessly.

Building a full suite of messaging products

We’re investing in building a full suite of messaging products that enable seamless conversational commerce to drive business results. As Business Messages continues to support brands in establishing their messaging presence on Google, we’re also experimenting with other ways to help them increase their reach and engagement on Search and Display. To accelerate on the digital front, we recently integrated AdLingo, a project built within Area 120, Google’s in-house incubator. This will enable brands to easily transform ads into AI powered, personalized conversations at scale.

For more information on how you can activate Business Messages, please reach us via the contact form on the Business Messages website. Merchants can also read and respond to messages via Google My Business or on the Google Maps app.