HDFC ERGO General Insurance Company one of the leading private general insurers and a digital-first company has launched the VAULT programme, an industry-first digital customer engagement and rewards programme.
The Company has taken advantage of the Regulatory Sandbox by IRDAI, in the form of VAULT, an experiment to test a new idea. Under this programme, the insurer will incentivise its Optima Restore health insurance customers by way of reward points for performing certain activities like staying insured under the policy for more than two years, holding two active HDFC ERGO retail policies, interacting digitally, using the cashless network of healthcare providers and others.
These reward points, equivalent to cash, can be redeemed against a wide range of wellness offers like pharmacy vouchers, doctor consultations, or can be used for social causes or buying insurance products, the company said.
“Innovation is the key to all that we do at HDFC ERGO. The Regulatory Sandbox gives us the impetus we need to innovate and introduce new and unique offerings for our customers. We believe that with VAULT, the relationship with our policyholders will go beyond the traditional transactional mode and help us provide more value to them. While it will pave the way to deeper engagement, it will facilitate reaching out to many new such customers who are keen to associate with an insurer who nurtures and values its customers’ loyalty,” said Ravi Vishwanath, President – Accident & Health Business, HDFC ERGO General Insurance.
HDFC ERGO General Insurance Company is a joint venture between HDFC Ltd. and ERGO International AG; the primary insurance entity of the Munich RE Group of Germany. HDFC ERGO is one of India’s largest non-life insurance company in the private sector.