Artificial Intelligence now powers 45% of Policybazaar’s insurance workflows, significantly improving speed, accuracy, and customer satisfaction. Nearly half (48%) of customers now receive their policies within 15 minutes, down from the earlier average of 4 hours.

This shift has led to major operational gains:

• Early Claims Factor has improved 14 times, thanks to better fraud detection in terms of savings plans.

• AI chatbots now handle over 30% of first-contact queries, up from 15% last year.

• Ticket resolution time has dropped by 15%, while customer satisfaction (CSAT) has touched 94%.

• Support tickets are now routed with 84% accuracy using AI-based tagging.

• Over 5 lakh personalised nudges are sent daily, raising engagement and intent-to-buy by 20%.

Fast Issuance & Better Fraud Detection

In February–March 2025, 48% of customers got their policies in just 15 minutes — a huge jump from 1.3% in January before AI was rolled out. AI is also helping to flag 11% of term plans and 16% of savings plans for potential fraud, thereby speeding up the processing of genuine claims.

Inclusive Access

AI tools now support over 9 Indian languages and include voice-to-text and screen reader features. These features help users in Tier 2 and 3 cities, as well as elderly and visually impaired customers, complete their insurance journeys independently.

Smarter Support, Better Conversions

Generative AI bots in the beta can explain complex policies in simple terms. This has boosted conversions by 5–8% during the product discovery stage.

According to CTO Saurabh Tiwari, AI is transforming insurance into a proactive, personalised experience that prioritises speed, access, and clarity — with the customer at its core.

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