HDFC Ergo and IBM to jointly setup data lab in India
MUMBAI: General insurance company HDFC Ergo and technology major IBM have jointly set up a lab in India to run deep analytics on customer data and subsequently develop customised solutions to improve business efficiency and profitability.
The ‘IBM Garage’ with a team of 25 experts, including data scientists, technology architects and design engineers from IBM and experts from HDFC Ergo, are working on various test cases aimed at improving customer experience. Their first project, which has been underway for two months, is to develop an automated real-time email-communication solution for customer queries and reduce turn-around time on redressals, top executives from both companies told ET.
“We are looking to improve speed, agility, consistency and quality of our communication channels,” said Mehmood Mansoori, member of executive management, HDFC ERGO. “The idea is to leverage IBM Watson technology to improve the overall experience and interface as we seek to improve our digital presence.”
Neither IBM nor HDFC Ergo disclosed the investment figure for setting up the lab, even as the insurance subsidiary of HDFC called it “significant”.
IBM Watson is a response-generating software developed by the New York-based IT giant, which using machine-learning and artificial intelligence (AI-ML) capabilities can create real-time custom responses and automate call-centre processes.
“There are four to five layers of intervention in processing a customer complaint and giving a standard response, we want to deliver a full-blown solution without these layers.” said Kamal Singhani, managing partner, IBM India and South Asia. “We would run analytic models on large amounts of data footprints generated by customers to get a deeper understanding.”