Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance
  • Customer Service
    Customer Service
    • Report A Claim
    • Renew Your Policy
    • Payment Receipt
    • Premium Paid Certificate
    • Fund Statement
    • Register for E-Nach
    • Claim Tracking
    • Register Complaint
    • Update FATCA/CRS
    • Update Contact Detail
    • Unclaimed Amount
    • Contact Us
    • NB Payment Link
    • SI - Credit Card
    • Application Tracker
  • Our Products
    Our Products
    • Capital Secure+ – A combination of market-linked and guaranteed returns

    • Edelweiss Tokio Life –Wealth Rise+ – A double-advantage ULIP

    • Edelweiss Tokio Life – Premier Guaranteed Income – A guaranteed income plan

    • Edelweiss Tokio Life – Wealth Secure+ – A new generation ULIP

    • Edelweiss Tokio Life – Zindagi Plus – A comprehensive term plan

    • All Products
  • Resume Application
    Resume Application
  • Blogs
    Blogs
  • Knowledge Center
    Knowledge Center
    • Life Insurance
    • Term Insurance
    • Unit Linked Insurance Plans
    • Guaranteed Income Plans
    • Retirement Insurance
    • Health Insurance Plans
    • Child Plans
    • Covid Insurance
    • NRI Insurance
    • Investment Plans
    • Endowment Plans
    • Group Insurance
    • Micro Insurance
    • Sabse Phele Life Insurance
    • Income Tax
  • About Us
    About Us
    • Why Choose Us
    • Public Disclosure
    • Awards & Recognition
    • Testimonials
    • Our Funds
    • Careers
  • Login
    Login
    • Customer Login
    • Partner Login
  • FOR CUSTOMER SERVICE
    Mon-Sat (10 AM TO 7 PM)
    1800 2121 212
    FOR PRODUCT QUERIES
    (Give a missed call on)
    022 6611 6040
    • Customer Login
    • Partner Login
Icon
Icon

Thank You!!

Icon

Error Message!

Error

Icon

Error Message!

Error

In the News

Five trends that will shape the life insurance industry in 2022

15 Jan 2022

https://www.moneycontrol.com/news/business/personal-finance/five-trends-that-will-shape-the-life-insurance-industry-in-2022-7936341.html

 

Since the privatisation of the insurance industry two decades ago, the fallout of COVID-19 pandemic has possibly been the most epochal for the industry. Adversity has brought out the best in the life insurance business and created a slew of innovations. For me, these last two years have been an education in resilience, courage, and the ability to forge ahead, undaunted by circumstances.

 

The need for life insurance has gained significant visibility since the pandemic struck, as the uncertainties of life have become starkly visible. Health and wellbeing of self and loved ones have become a priority, which has made financial protection a crucial task. Quite naturally, protection solutions including life and health insurance have become an essential requirement in every financial portfolio.

 

The preferred methods of insurance buying are also undergoing changed. Customers are not only comfortable buying digitally, but also interacting digitally with advisors on various platforms. As millennials continue to become a larger part of our economy, this trend is likely to become even stronger, prompting insurers to relook at the customer experience through various distribution channels.

 

As we move into 2022, life insurers will let customers take the wheel and guide transformation for the post-COVID era.  Here are some key trends we expect to emerge in the new year.

 

Protection will remain a customer priority

The pandemic has brought potential risks to one’s life and income to the fore. Term plans and health insurance plans of various hues will continue to be sought-after as facilitating economic continuity for loved ones and an increasing awareness of the need for basic protection has become a priority for many.

 

While there was already an increasing awareness and demand for income solutions before 2020, the pandemic has amplified the need for protecting one’s income and create an alternate source. So, life insurers will concentrate their efforts on solutions that address these consumer concerns over income fulfilment and other goal-linked requirements like retirement.

 

Digital technologies

As in many other fields, digital technologies will continue to see significant investments. Life insurers will leverage digital technologies to help customers purchase complex products in a simple way and fulfil service requests in a seamless manner. Accustomed to an e-commerce-like experience online, an efficient onboarding process will be a key expectation of customers from the insurance world. Insurers will therefore invest considerable resources in reimagining the consumer journeys across the lifecycle of a policy.  From AI-enabled Chatbots to easy and quick fulfilment of service requests, life insurers will focus on delivering a delightful experience to the customer.

 

Over the next couple of years, companies will also look at ways to deeply integrate their customer acquisition and service capabilities with that of their distribution partners to deliver a unified experience to the customer. These technology initiatives will be critical to encourage innovation, achieve customer-focused business objectives, and drive future growth.

 

Investments in Data Science and Analytics will rise

There will be a higher emphasis on building and nurturing data-related technologies – specifically collection, analytics, and protection. Artificial Intelligence and Machine Learning will help get a deeper insight into customer personas and therefore offer newer avenues to cater to their needs. ML will also play an important role in optimizing other processes like risk prevention, customer retention, advisor activation, etc.

 

Protecting customer information by applying appropriate security measures and access controls to information and application will be among the top technology-led priorities for businesses.

 

Easing access to insurance

Life insurers will continue building multi-channel capabilities to assist and provide information to the customers, wherever, and however they want. Simply put, easing access to insurance will be an important business objective. Companies will look for newer strategic partnerships to significantly smoothen the life insurance purchase journey for customers. In the years to come, insurers will work consistently to improve the service experience by investing in omni-channel capabilities over time.

 

Strengthening of the insurance advisory approach

As customers proactively consider life insurance as a means of financial protection, insurers, together with their distribution partners, will adopt an insurance advisory approach. Understanding customer needs and advising them on appropriate solutions to address challenges will become the norm.

 

In the immediate term, life insurers will continue to seek opportunities to reimagine their product propositions, customer experience, and business strategies to support innovation and faster growth. The creation of digital tools will allow a significant degree of personalization that will help customer both identify and fulfill their unique needs. Sandbox experiments are likely to increase as insurers try out new and innovative products.

 

Overall, 2022 will lead the way in setting out a path of significant investments and innovation across the insurance industry that will play over the next three to five years.

0

    Top Press Release

    #news

    Bridging the organ donation divide

    23 Jan 2023

    11
    #news

    Why Public & Private Collaboration Is Critical To Improve Organ Donation Landscape

    20 Jan 2023

    13
    #news

    Will Budget 2023 be the turning point for India’s insurance sector, help replace China as better investment bet?

    12 Jan 2023

    5
    #news

    Organ donation: Why it needs more than a to be or not to be approach

    10 Jan 2023

    22
    #news

    Is year 2022 a pre-cursor to long-term insurance industry growth

    29 Dec 2022

    30
    #news

    Financial planning The advantages of starting early

    25 Dec 2022

    18
    #news

    Abhishek Gupta decodes life insurance marketing trends in 2023

    24 Dec 2022

    18
    #news

    Anup Seth on creating a plural organization

    16 Dec 2022

    34
    #news

    Considering a change in profession? Here’s how you can financially prepare for it

    20 Nov 2022

    56
    #news

    It is crucial to talk to children about money matters

    14 Nov 2022

    26
    • About Edelweiss Tokio
    • All Plans
    • Customer Service
    • Legal
    • Support
    • About Edelweiss Tokio

      • About Us
      • Board of Directors, Committees and Resignations
      • Key Management Persons
      • Edelweiss Tokio Life CSR Policy
      • Terms and conditions of appointment of the Independent Directors
      • Testimonials
      • Customer Advisory
      • Our funds
      • Become An Advisor
      • The Buzz
      • Notice & Scrutiniser Reports
      • Careers
      • Sitemap
      • Whistle Blower Policy
      • Remuneration Policy
      • Annual Return
      • Awards & Recognition
      • Branch List
    • All Plans

      • Term Insurance Plan
      • Term Insurance Plans - Hindi
      • Unit Linked Insurance Plans
      • Guaranteed Income Plan
      • Investment Plans
      • Child Insurance Plans
      • Retirement Insurance Plans
      • Retirement Insurance Plans - Hindi
      • Group Insurance Plans
      • Endowment Plans
      • Micro Insurance Plans
      • Sabse Pehle Life Insurance
      • Life Insurance Plan
      • NRI Insurance Plan
      • COVID-19 Insurance Plan
      • Health Insurance Plan
    • Customer Service

      • Service Parameters & TAT
      • Renew Online
      • Riders
      • E-Statements
      • NAVs
      • Grievance Redressal
      • Products and Riders
      • Unclaimed Amount
      • Payment options
      • Account Value Declaration
      • Fund history
      • Application Tracker
      • NB Payment Link
    • Legal

      • Terms & Conditions
      • Privacy Policy
      • Chat Policy
      • Fund Benchmark
      • Email Disclaimer
      • Institutional Disclaimer
      • Insurance Disclaimer
    • Group Companies

      • Edelweiss Financial Services Limited
      • Tokio Marine Holdings Inc.
    • Support

      • File A Complaint
      • Live Chat
      • Call Back
      • FAQ
      • Pre-sales process
      • Contact Us
    • Important Links

      • IRDAI
      • Life Insurance Council
      • Insurance Ombudsman
      • Anti Fraud Policy
      • Public Disclosure
      • Premium Calculator
      • Do Not Call Registry
      • Corporate Agents
      • Discontinued Products & Riders
      • Bonus Rates
      • Public Disclosure-Agent List
      • Goods and Services Tax
      • Consumer Education
      • Pre-Sales Process
      • Downloads
      • Terminated agents
      • IRDAI on Spurious Call
      • Electronic Insurance Account
      • Edelweiss Tokio CSR Policy
      • T&C of Appointment of ID
      • Proposal Forms
      • Notice on cash collection
      • Compounding Calculator
      • Retirement Calculator
      • Income Tax
      • UW Philosophy for PLHA
      • UW Philosophy for Disability / Mental Illness
      • UW Philosophy for Transgender Persons
      • Organ Donation
      • Simplified Claim Process
    Registered & Corporate Office: 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai – 400070
    T: 1800-212-1212 F: (022) 6117 7833care@edelweisstokio.in https://www.edelweisstokio.in

    Edelweiss Tokio Life Insurance Company Limited. All Rights Reserved. Registered with Insurance Regulatory & Development Authority of India (IRDAI) as Life Insurance Company. IRDAI Regn. No.: 147. CIN: U66010MH2009PLC197336. Tax benefits are as per the Income Tax Act, 1961, and are subject to amendments made thereto from time to time. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding a sale. Flower & Edelweiss (as displayed above) are trademarks of Edelweiss Financial Services Limited; "Tokio" is Trademark of Tokio Marine Holdings Inc. and used by Edelweiss Tokio Life Insurance Co. Ltd. under license. Edelweiss Tokio Life Insurance Company Limited. Registered & Corporate Office: 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai – 400070.  Toll Free No.: 1800 212 1212 | Fax No.: +91 22 6117 7833 | www.edelweisstokio.in This is a Private website owned by the Company. Unauthorized scanning of vulnerabilities and exploitation of the same is strictly prohibited. If you have been found to do so, Company may bring Civil and/or Criminal action and/or legal proceedings against you which shall be entirely at your costs and consequences.

    BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/ FRAUDULENT OFFERS

    IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.

    Copyright © 2019 Edelweiss Tokio Life Insurance Company Limited. All rights reserved.
    • Term of Service
    • Privacy Policy
    • Term of Service
    • Privacy Policy