In India, insurance penetration is very low. When an uninsured family member requires hospitalization, it can deplete a middle-class family’s entire savings. Having a health insurance policy comes as a boon in such times. Unfortunately, many individuals struggle to comprehend the benefits of these policies due to the complex language and unclear claim procedures. This lack of understanding can be attributed to both the inadequate communication of insurance companies and the public’s difficulty in deciphering the complicated terms used in documentation.
For insurance companies to build trust and secure premiums, they must provide all information to their prospects in easy-to-understand language. Though most policies are often sold through agents, they may not understand the complex policy language themselves, after all, they are not English language champions either.
The IRDAI has been pushing insurance companies to provide all information and policy documents in local languages to improve understanding. By doing so, companies will benefit their customers, agents and ultimately themselves.
Process9’s Mox suite of solutions makes all the above extremely easy, effortless, efficient, and cost-effective. Process9 multilingual intervention can significantly increase insurance companies’ reach and ROI by making them multilingual at all their customer touch points.