Kathmandu. Indian insurers are increasingly using artificial intelligence (AI) across the insurance value chain to automate insurance processes, strengthen underwriting and claim processing, improve customer service and detect frauds.
According to the company’s annual report, the use of AI is being increased to improve operational efficiency, increase productivity and reduce turnaround time. ICICI Prudential Life said it is using AI to drive generational change to underwrite and issue policies and provide services.
During FY2026, insurance companies are using AI, machine learning (ML) and deep learning to promote more cross-selling, improve advisor activation, reduce promotion costs, strengthen onboarding, and help detect fraud, increase collection, prevent false sales and speed up claims processing. This year over 96.8% of customer care interactions have been completed through digital self-service channels.
HDFC Life said in a statement that it is moving from traditional automation to an enterprise-wide generative AI platform to an operating model driven by AI, cloud and data. The company said in its annual report, “AI-powered tools and automation have improved service accuracy. Completion time has also been reduced and resolution efficiency in service and claims processing has improved. ’
State-owned Life Insurance Corporation of India (LIC) is also increasing the use of AI in customer service and operations. The insurance company has implemented AI-enabled voice communication system for communication related to maturity claims information and National Electronic Funds Transfer (NEFT) registration and has extended its services to premium payment reminders.
ICICI Lombard, the leading provider of non-life insurance, has also expanded its AI deployment in policy issuance, underwriting, claims and customer service. –Agency
