Saturday, 21 June, 2025

Policybazaar Slashes Insurance Issuance Time from 4 Hours to 15 Minutes with AI

Policybazaar has integrated AI into 45% of its insurance workflows, reducing policy issuance time from up to 4 hours to just 15 minutes for nearly half its customers. The platform uses AI for ticket tagging with 84% accuracy, fraud detection (14x improvement), and bots handling over 30% of first-touch queries. AI features include hyper-personalized nudges, real-time escalation, multilingual support, and voice assistance—boosting CSAT to over 94%.