SBI General Showcases Enhanced Buying Journey of Health Insurance on WhatsApp at the Global FinTech Fest 2022

SBI General Insurance first launched its WhatsApp chatbot in 2020 with a first-of-a-kind buying journey for its health insurance policy. This initiative was announced at Meta Fuel for India 2020. Today, it has made larger number of products available that customers can directly buy through a hassle-free interface and from anywhere, with end-to-end policy purchase on the platform itself.

The user-friendly process - The process can be started by initiating a chat with SBI General's verified business account on WhatsApp, that will further prompt the product options available for purchase. Customers can explore the product features and get their policy document right within the WhatsApp chat thread. Riding on the success of UPI integration on WhatsApp, this is another landmark move, that will not just drive insurance penetration in the country but will also help in further expanding financial inclusion in India.

Commenting on the association, Mr. Anand Pejawar, Deputy Managing Director, SBI General Insurance said, "Customers today, are more evolved and much better informed as compared to the past. In line with customers' changing buying behaviour and as a part of the Company's constant endeavour to innovate and make insurance accessible, we at SBI General have made our products available for purchase on one of the most used platforms, in just a few chats. These are the milestones that make our customer experience strategies worthwhile. Given that WhatsApp is an important platform with robust security features and extensive reach, we are confident that this initiative will be beneficial for existing as well as potential customers and we will continue to evolve with the dynamic technological advancements both in product development and policy servicing."

Abhijit Bose, Head of WhatsApp India said, "The banking and insurance industry has been at the forefront of building innovative customer engagement journeys on the WhatsApp Business Platform. These solutions are making financial products and services more accessible to people across the country thus contributing to the overall financial inclusion vision. We are delighted to further strengthen our collaboration with SBI General Insurance to make insurance products more easily available for their new and existing customers."

SBI General Insurance unveiled the buying journey of their key products available on WhatsApp to the public at the Global FinTech Fest 2022. The Company will continue to identify and implement such innovations to realise its vision of becoming the most trusted general insurer for a transforming India.

About SBI General Insurance Company Limited

SBI General is one of the fastest growing private general insurance companies, with the strong parentage of SBI, we at SBI General Insurance, are committed to carry forward the legacy of trust and security; and have a vision is to become the most trusted general insurer for a transforming India.

Ever since our establishment in 2009, from 17 branches in 2011, we have expanded our presence to over 137 branches pan-India. Till date, we have served over 10 crore customers. We have been awarded 'Insurer of the Year' in the non-life category at FICCI Insurance Industry Awards, for two consecutive years.

We have a robust multi-distribution model encompassing Bancassurance, Agency, Broking, Retail Direct Channels and Digital tie-ups. The widespread network of distributors like 22000 plus SBI branches, Agents, Other financial alliances, OEMs, and multiple digital partners enables us to extend our reach to the pocketed remote areas of India.

We offer a bouquet of products spread across wide range of line of businesses to cater to customers in all segments like Retail, Corporate, SME and Rural, ensuring the accessibility in both forms i.e., digital as well as physical.

Our CSR programme is driven by the mission of serving the most vulnerable communities and people at risk with sustainable interventions that can help in enhancing their lives. In line with this objective, we have been associating with various NGOs and/or programs to contribute to various areas aligned with our focus areas of CSR philosophy, like health, road safety, sanitation, education, sustainability & livelihoods, and sports.

SBI General Insurance reported a 11% growth in Gross Written Premium (GWP) in FY 2021-22 and the GWP stood at INR 9260 crore. With the increasing need of health insurance, we have a very channelized strategy for health insurance business, which has reflected in 50% growth in health insurance GWP for the FY2021-22.