SBI Life Insurance has introduced a new service that allows customers to have their grievances resolved through SMS.
In a first-of-its-kind initiative, SBI Life Insurance has introduced a new service that allows customers to have their grievances resolved in a simpler, paperless and faster manner through SMS. Called SMS SOLVE, the service has already been rolled out all over India.
The initiative was inaugurated by Irda chairman J Harinaryan at a function in Hyderabad.
SBI Life Insurance MD & CEO MN Rao said, “The introduction of this initiative is a reflection of our commitment towards constantly enhancing our customer service capabilities so as to provide our customers constant reassurance and convenience. We will continue to leverage technology to be able to establish deeper connect with our customers.”
The innovative SMS-based service provides customers the ease of accessing SBI Life 24 X 7. Customers are able to register their grievances about SBI Life’s service by merely sending SMS “SOLVE’ to 56161.
The message along with customers’ mobile number, date and time of message is automatically registered at the central server of SBI Life’s central processing centre.
A special customer service team from the V-Care cell, exclusively trained and dedicated for the SMS SOLVE service, calls the customer, takes note of the grievances and addresses it.
After the complaint is resolved, the service personnel updates the status on a specially designed internal portal.
However, a closure to the complaint is made only after confirming with the customer through a follow-up call. Sufficient built-in security features have been incorporated in the system to ensure that only authorised people can modify or delete the complaints.
Finally, an SMS intimating the closure is sent to the customer. SBI Life has posted an impressive all-round performance in the first half of the financial year.
It posted net profit of Rs 217 crore, registering 87 per cent growth over the corresponding period last year. The total premium increased by 42 per cent to Rs 4,830 crore during the period.
The new business premium surged to Rs 3,173 crore, growing by 30 per cent over the corresponding period last year. Expanding rapidly, SBI Life added 129 new branches and recruited 2,120 employees during the first half of the year.
SBI Life’s assets under management has grown 57 per cent over the corresponding period last year to Rs 34,406 crore as on September 30.
The company continues to have the lowest expense to GWP (gross written premium) ratio in the industry at 7.76 per cent.
SBI Life has moved up to first rank in year to date in new business premium in the private sector life insurance segment as per the latest Irda report.
The company has a market share of 19.03 per cent among private life insurers and a total market share of 5.09 per cent.
http://www.moneyguruindia.com/article.php?cid=342&id=1
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I’m all for innovation, but I don’t see how this can work, for short, quick queries maybe, but that’s what FAQ’s on websites are for. If someone has a major or complex query I don’t see how that can be solved by an SMS, no matter what the company says or plans.
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