In a crowded grievance-redressal market, what one capability does Insurance Samadhan offer that no other platform currently matches?
We believe that Insurance Samadhan’s standout feature is its AI-powered ‘Know Your Policy’ in the Polifyx app, which scans policies to detect mis-disclosures (health, lifestyle, and nominees) and flags inconsistencies in real time. This feature has helped policyholders understand whether the product they have chosen meets their requirements.
Our grievance process is also 80 per cent automated, which effectively reduces resolution time by minimising human intervention. Our company’s 6 years of experience in resolution is carefully fed back to the system to ensure AI learning for similar cases and to increase the chances of resolution.
What data sources, AI/ML techniques or rule-engines power their recommendations, and how do you measure its effectiveness in real time?
Policy documents serve as our primary data source, while our insurance experts help define the rules applicable to the policy basis. This approach helps simplify the insurance jargon, policyholder rights, and IRDAI regulations.
In addition, we continuously evaluate the Ombudsman awards and train the points of resolution back to the system so that when a similar case comes, the system can prepare a correct representation draft. Our quality team further checks the effectiveness from time to time. We also continuously audit and engage with the system to ensure everything runs smoothly and correctly.
Operating in a regulated space with sensitive customer data, how do you ensure adherence to IRDAI guidelines, GDPR-style best practices and India’s upcoming PDPB requirements?
We are already an ISO 27001:2013 certified organisation, which highlights our commitment to information security. Additionally, we are prepared to implement the upcoming Personal Data Protection Bill requirements as they come into effect.
Some cases involve legal intricacies or cross-jurisdictional disputes. What escalation framework and external partnerships do you leverage for these?
In matters involving legal complexities or multi-jurisdictional considerations, we employ a structured escalation framework that engages both our in-house legal advisors and our external law firm partners.
Looking ahead five years, do you envision Insurance Samadhan as a pan-India flagship, a global grievance-redressal SaaS or an acquisition target and what key pivots will guide you there?
We have already established a strong PAN-India presence with an active office in Noida. As a technology-driven platform serving both B2C and B2B segments, we operate in a market landscape that is well-developed in the US and can be replicated successfully once we solidify our position in India.
As part of our future goals, we aim to expand into Asia and Africa. To accelerate our growth and optimise our market reach, we are seeking collaboration with partners who have strong distribution channels that can help us expand our presence and reach.
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