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Case Study:CSC centre in Shikrapur: HDFC ERGO

Executive Summary of the Project

Hdfcergo India – 7th biggest country in terms of geography. It has 5500 cities and 640,000 villages with 65% of population residing in rural India The overall general insurance penetration is 0.8 percent of GDP while it is only 0.1% of GDP in villages. The opportunity is big, but given the wide geographical spread, low ticket size and annual nature of policies, the challenge is how to reach economically. As it requires large number of offices and agents. The only solution is to go digital A revolution is taking shape in India to take insurance to the remotest corners of the country. The key to success is a model, which sells simple, easy to understand, low ticket size products and is cost effective for the insurer.
This mission is being achieved jointly with the partnership of the government and the insurance industry through effective use of technology.
Through the government’s national eGovernance platform i.e Common Service Centers, a wider reach can be achieved with help of 140,000 eKiosks.

Here is a CSC centre in Shikrapur village, 160 Kms from Mumbai. Meet Mr. Ramakant who is here to buy a Motor Third party policy. The customer can buy a policy using his UID or an IRIS scan. An IRIS scan of the eye is done to pull out the data bases from the government's UID database which houses bio metric information for citizens, in less than 2 seconds. A Policy is issued in less than 3 minutes with basic risk details. There are no worries to handle cash. Customer can make a payment in any mode. Insurers receive the money through electronic wallet of the CSC Operator. This technology innovation is providing unparalleled reach by improving last mile connectivity and will help increase insurance penetration in the country. HDFC ERGO is the first non-life insurance company to integrate with CSC’s eGovernance platform.
Digitialization Redefined!!

Digitialization Audiovisual created by Santanu Productions - A Premium Corporate Video Maker in Mumbai. For more information please visit - https://www.santanu.biz or email us at mail@santanu.biz

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