Saturday, May 18, 2024

BFSI customers expect services to be rendered immediately: Sun Life

Tarun Sareen, Managing Director, Sun Life Asia Service Centres.

Tarun Sareen, Managing Director, Sun Life Asia Service Centres.
| Photo Credit: Special Arrangement

BFSI (banking, financial services and insurance) customers now expect the services they want to be rendered immediately and this transformative change in customer behaviour has added to the challenges of the insurance industry, observed Tarun Sareen, Managing Director, Sun Life Asia Service Centre India (ASCI), a microcosm of the Canadian financial services, insurance and asset management leader Sun Life.

“This has always been one of the challenges of the insurance industry, given the nature of the business. However, with the maturing of technologies, there are possibilities of bringing in operational efficiencies without compromising customer expectations and safety,’‘ Mr. Sareen told The Hindu.

In order to further strengthen its position as a Digital & Innovation Hub and Engineering & Tech Powerhouse for Sun Life from India in particular and Asia Pacific region in general, ASCI would be investing in NextGen digital competencies and developing senior engineering talent to develop modern capabilities such as APIs, AI/ML, cloud, data, DevOps and experience design.

As part of this, its recently opened new facility in Bengaluru, a replication of its capabilities in Gurugram, would focus on forming end-to-end squads in modernisation, cloud, SecOps, Centres of Excellence (COEs) like Pega, and Salesforce, and hire experienced technology roles like architects, product owners, designers, engineers, data analysts and others, said Mr. Sareen.

“The new office will focus on building a contemporary engineering culture and deepening tech talent to leverage data and insights to drive digital transformation for clients,’‘ he said.

ASCI has a very strong focus on building its capabilities in line with the current and future requirements. And in doing so, its biggest differentiator was talent. A deep and niche skill base available in Bengaluru would help the company serve its customers better, he anticipated.

According to Mr. Sareen, the new office of Sunlife ASC in Bengaluru will play a role in supporting ASC in India and the parent brand. From here we will focus on forming end-to-end squads in modernisation, integration, Cloud, DevSecOps, Centres of Excellence (COEs) like Pega, and Salesforce, and hire experienced technology roles like Architects, Product owners, and CX-designers, among others.

“We will leverage advanced analytics tools and techniques to identify critical trends and patterns in customer behaviour, which can then be used to create more targeted and personalised solutions customised to suit the client’s needs,’‘ he elaborated.

ASCI, a global capability centre of Sun Life, has been growing 10 to 15% CAGR in India since its entry into the country 17 years ago.

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