HDFC Life Honoured with CIO MAGAZINE's 2013 CIO 100 AWARD
Mumbai, Maharashtra, India, Tuesday, June 25, 2013 -- (Business Wire India)
-- The company receives the award for CLICK2BUY, innovative Point of Sale tool
HDFC Life, India’s leading long term life insurance player, has been recognized by CIO magazine as a 2013 CIO 100 Award Winner for its innovative Point of Sale tool – CLICK2BUY. The 26th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).
HDFC Life will be recognized at the CIO 100 Symposium & Awards Ceremony, to be held Tuesday evening, August 13, 2013 at The Broadmoor in Colorado Springs, Colorado.
Speaking on this achievement, Thomson Thomas, CIO and SVP - Business Systems & Technology, HDFC Life said, “It’s a great honour to be selected as one of 2013 CIO 100 Award Winners. This recognition is for yet another innovation, CLICK2BUY, a step towards encompassing the entire journey from 'need based selling' to 'demat policies'. It is a sales tool with the objective of simplifying the insurance purchase process for customers, helping our sales team to submit a zero-defect proposal online via Internet.”
"For 26 years now, the CIO 100 awards have honored the innovative use of technology to deliver genuine business value," said Maryfran Johnson, Editor in Chief of CIO magazine & events. "Our 2013 winners are an outstanding example of the transformative power of IT to drive everything from revenue growth to competitive advantage."
Click2buy is driven by a state of art rule engine, which ensures that every question required for underwriting a proposal is asked up-front. On clicking the submit button, the underwriting decision or medical reports required to underwrite are communicated up-front to customers. The system sends an email to the customer with the copy of the proposal form immediately on submitting the proposal. In other words Click2buy enables the company’s sales team to underwrite and communicate the decision or requirement up-front right at the Point of Sale.
This system is already proving to be a game changer for HDFC Life and has won the Asian BFSI Award 2012 in the ‘Underwriting Initiative of the year’ category, Celent Model Insurer Asia of 2013 and Celent Model Insurer in Underwriting Category.
About HDFC Life
Established in 2000, HDFC Life is India’s leading long-term life insurance solutions provider offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, and Health. The company also offers Women’s Plans to meet specific needs of women. Customers have the added advantage of customizing plans, by adding optional benefits called riders, at a nominal price. The company currently has 33 retail and 10 group products in its portfolio, along with 10 riders.
We promote high integrity in business practices and shun short cuts and unethical practices, as we aspire to the most trusted company, the easiest to deal with, and offer the best value for money. Since our inception, we have consistently focused on setting benchmarks in all aspect of insurance business.
HDFC Life continues to have the widest reach with about 500 branches in India touching customers in over 900 cities and towns. The company has also established a liaison office in Dubai. The company has a strong presence in its existing markets with a strong base of Financial Consultants.
HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India’s leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom.
For more information, please visit our website, www.hdfclife.com. You may also connect with us on Facebook, Twitter, Youtube, Linkedin, and Google+.
About CIO Magazine
CIO is the premier content and community resource for information technology executives and leaders thriving and prospering in this fast-paced era of IT transformation in the enterprise. The award-winning CIO portfolio—CIO.com, CIO magazine (launched in 1987), CIO executive programs, CIO custom solutions, CIO Forum on LinkedIn, CIO Executive Council and CIO primary research—provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. Additionally, CIO provides opportunities for IT solution providers to reach this executive IT audience. The CIO Executive Council is a professional organization of CIOs created to serve as an unbiased and trusted peer advisory group. CIO is published by IDG Enterprise, a subsidiary of International Data Group (IDG), the world’s leading media, events, and research company. Company information is available at http://www.idgenterprise.com/.
About the CIO 100 Awards
The recipients of this year's CIO 100 award were selected through a three-step process. First, companies filled out an online application form detailing their innovative IT and business initiatives. Next, a team of judges reviewed the applications in depth, looking for unique practices and substantial results. Finally, CIO editors reviewed the judges' recommendations and voted on the final 100.
For press backgrounder on HDFC Life click here