HDFC ERGO Accelerates Their Digital Strategy With The launch Of A Center Of Excellence For Generative AI By CIOTechOutlook Team

HDFC ERGO Accelerates Their Digital Strategy With The launch Of A Center Of Excellence For Generative AI

CIOTechOutlook Team | Tuesday, 25 July 2023, 10:10 IST

HDFC ERGO General Insurance, India’s leading private sector general insurance company is launching a Centre of Excellence (CoE) for Generative Artificial Intelligence (AI). Google Cloud will be supporting HDFC Ergo with identifying and developing use cases and upskilling their teams on Gen AI.

As a ‘digital first’ organization, HDFC ERGO has been a frontrunner in harnessing technology to democratize insurance and deliver efficient and hyper-personalized customer-centric services. Google Cloud will support HDFC ERGO in establishing best practices and guidelines to ensure the responsible and ethical use of generative AI for their developers.

By leveraging the capabilities of its CoE, HDFC ERGO aims to develop new products and services, enhance the efficiency of existing processes, and optimize costs. Besides, aligned with HDFC ERGO’s commitment to fostering a future-ready workforce, the CoE will also offer training and upskilling opportunities to employees on generative AI technologies, empowering young jobseekers to stay at the forefront of this rapidly evolving field.

Commenting on the partnership, Sriram Naganathan, CTO, HDFC ERGO General Insurance said, “At HDFC ERGO, we believe that Generative AI has the potential to unlock significant untapped opportunities in the insurance sector, which can aid in realizing the regulator's vision of 'Insurance for All by 2047'. Our partnership with Google Cloud further reinstates our commitment to offer enhanced customer experience by adopting new technologies. The new CoE will allow us to unravel new dimensions of hyper-personalisation for our customers by using Generative AI, and thus play a pivotal role in foraying into new customer segments.”

Bikram Singh Bedi, Managing Director, Google Cloud India, said, “We are delighted to partner with HDFC ERGO to offer innovative and tech-enabled solutions. We will bring the power of Google Cloud generative AI to HDFC ERGO so they can deliver superior services to their customer base and help accelerate the adoption of AI technologies to deliver better outcomes.”