In the world of insurance, size often brings unique challenges. Life Insurance Corporation of India (LIC), the largest insurer in the country with 290 million policyholders, faced a monumental task: modernizing customer service for a vast and diverse clientele. This case study explores how LIC partnered with Avaamo to implement the world’s largest Intelligent Virtual Assistant (IVA), overcoming not just the scale of operations but also significant literacy barriers. Their journey from traditional systems to cutting-edge AI-driven support offers invaluable insights into large-scale digital transformation in the financial sector.
At a glance
500k
unique queries service per month
60k
product specific queries answered each month
120k
unique users served per month
Introduction
In the realm of insurance giants, Life Insurance Corporation of India (LIC) stands unparalleled. With over US$450 billion in assets, 290 million policyholders, and 1.5 million individual agents, LIC boasts the world’s largest network by volume and distribution. However, even titans face challenges in the digital age.
The Challenge
LIC, India’s oldest insurer, found itself at a crossroads. As the insurance landscape grew increasingly competitive, the need for rapid automation became critical. The company had to match the customer service standards set by smaller, more agile insurers while managing an unprecedented scale of operations. This transformation demanded an Intelligent Virtual Assistant (IVA) strategy capable of handling massive volumes – a feat never before achieved in the conversational AI industry.
Compounding this challenge was a unique demographic hurdle: 37% of LIC’s customer base lacked literacy skills. This necessitated a solution that could provide proactive voice communication across eight Indian dialects, as well as integration with platforms like Google Assistant, ensuring accessibility for all users.
The Solution
Avaamo rose to this monumental challenge, deploying a voice-enabled IVA across all customer touchpoints in just seven weeks. Leveraging advanced voice technology, sophisticated tooling, and robust language support, the IVA was designed to handle a wide array of customer queries, including:
- Locating payment centers in rural areas
- Providing premium payment reminders and information
- Addressing policy dues inquiries
- Handling payment and eligibility questions
The IVA’s multi-lingual voice capability was crucial in bridging the literacy gap, allowing LIC to serve its diverse customer base effectively.
Impact
- Unprecedented Scale: Successfully implemented the world’s largest IVA, serving 290 million customers
- Rapid Deployment: Full implementation achieved in just 7 weeks, showcasing Avaamo’s efficiency
- Inclusivity: Overcame literacy barriers through voice-enabled support in multiple dialects
- Enhanced Accessibility: Integration with Google Assistant further expanded reach
- Competitive Edge: Enabled LIC to match and exceed customer service standards of newer, agile competitors
LIC’s partnership with Avaamo not only solved its immediate challenges but also set a new global benchmark for large-scale AI implementation in customer service. This case study stands as a testament to the power of innovative technology in transforming even the most established and expansive organizations, proving that with the right solution, no challenge is too big to overcome.
