16 Aug 2019
IFFCO Tokio General Insurance wins 2019 Digital Transformer at the 3rd Annual 2019 IDC Digital Transformation Awards (DXa) India
IFFCO Tokio General Insurance and six other companies also recognized by IDC for excellence in their digital transformation (DX) efforts
INDIA, August 16th, 2019 – IDC announced India winners of the third IDC Digital Transformation Awards (DXa) 2019 and named IFFCO Tokio General Insurance, the 2019 Digital Transformer for India last weekend. Now on its third year, IDC’s DX Awards honors the achievements of organizations that have successfully digitalized one or multiple areas of their business through the application of digital and disruptive technologies. Other winners include: Cairn Oil & Gas, Escorts Ltd., L&T Hydrocarbon Engineering Limited, ReArk Digital Preservations Pvt. Ltd., Tata SIA Airlines Limited and The Federal Bank Ltd, who all distinguished themselves for their discernible and measurable excellence in their digital transformation (DX) efforts across the five DX masteries and significant efforts to transform or disrupt the market.
Figure1. 2019 India IDC Digital Transformation Awards Winners
Eva Au, Managing Director of IDC Asia/Pacific says, “There is clearly an increasing adoption of third platform technologies and innovation accelerators as enterprises race to transform for the future. The winning projects for 2019 India IDC Digital Transformation Awards mirror this trend with inclusion of AI, IoT, Robotics and analytics to achieve operational efficiency and customer satisfaction. These organizations are successfully thriving with a digitally-native culture, using insights at scale, and deliver new models of customer engagements, all of which are enabled by an intelligent, empowered and agile workforce to evolve into the Future Enterprise.”
These are the winners of the 2019 India IDC Digital Transformation Awards, and the outstanding digital transformation initiatives that distinguished them:
- AI-based Damaged Vehicle Claim Assessment, Dynamic Pricing for Motor Policies and Live Streaming of Damaged Vehicle for Claim Officers by IFFCO Tokio General Insurance (ITGI) named as 2019 Digital Transformer for India:
Using Artificial Intelligence, ITGI enables assessment of vehicle damage within minutes streamlining process that was tediously manual. This innovative approach has helped reduce the average claims lifecycle from days to minutes, creating higher levels of customer convenience and satisfaction.
ITGI has also created an application that enables on-the-spot video inspection by garages and online approval of repair estimate of the damaged vehicle, ensuring the motor insurance survey is conducted seamlessly offering a competitive advantage by to processing vehicle insurance claims and settling claims faster.
- ReArk by ReArk Digital Preservations Pvt. Ltd. named as 2019 Digital Disruptor for India:
ReArk is a platform that allows individuals and companies to create digital 3D models from images of real-world objects. Users can publish, share, embed, download and create collections of 3D content anytime anywhere and use it for AR/VR, and 3D printing. Students, artists, designers, brands, enterprises and sellers on e-commerce platforms can showcase their designs and products in interactive 3D models for AR/VR using ReArk’s Advanced 3D viewer.
- My Smart Alerts (Exception Based Surveillance or EBS) by Cairn Oil & Gas named as 2019 Information Visionary for India:
Cairn is using existing sensor data and converts it into actionable insights with Exception Based Surveillance (EBS). EBS raises analytics-driven exceptions on systems that need proactive maintenance so that the issues can be addressed before they occur. When process and operating parameters deviate outside the operating limit, the EBS solution alerts the respective teams for rapid action. It also provides diagnostics that assist in identification of the root cause of the exception and provides suggestions for remediation. Therefore, using analytics, EBS significantly reduces turnaround time (TAT) and improves productivity.
- FedRecruit by Federal Bank Ltd named as 2019 Talent Accelerator for India:
The FedRecruit project promotes disruptive hiring through an intelligent platform and modernizes the current recruitment process. The project aims to create greater candidate experience and impactful campus hiring through recruitment automation, candidate engagement mobile application, a Natural Language Processing-based chatbot, and robotic interviews to measure the Big Five personality traits, and integrated video interviewing feature to meet candidates face to face virtually among other capabilities.
- Care 24X7 by Escorts Ltd. named as 2019 Omni Experience Innovator for India:
World's first-of-its-kind Care 24X7 - a device with a SIM, microphone, speaker and storage that is installed on every tractor – enables connection with customers, directly for solving their tractor-related problems through Escorts Ltd.’s call center. Through this project the company offers a better customer service experience and is driven towards fulfilling their customer’s needs and providing comfort and convenience.
- RaDa by Ravinder Pal Singh, Chief Information and Innovation Officer, Tata SIA Airlines Limited named as 2019 DX Leader for India:
RaDa, the first robot of its kind at airports in India has been built by Tata SIA Airlines Ltd./Vistara to enhance customer experience, automate airline ground operations, optimize the cost of operations and engage new channels for revenue generation using family of robots. RaDa is arguably the most cost-effective robot commercially deployed. With the current and future deployment, the company expects to increase customer satisfaction by more than 35%.
- Real Time Monitoring System (RTMS) by L&T Hydrocarbon Engineering Ltd. named as 2019 Operating Model Master for India:
RTMS focuses on 'Zero Hazards' as an operating model of digitalization ecosystem to ensure safety of workmen at challenging oil and gas platforms. The project makes use of smart wearables for workers and a smart activity tracker for Project Management Solutions to ensure safety and productivity – introducing digital transformation in existing legacy manual processes in the hydrocarbon industry. The integrated solution is built on Industrial Internet of Things (IIOT), data analytics, and cloud technologies.
IDC’s DX Awards follows a two-phased approach to determine the country and regional winners. Each nomination is evaluated by a local and regional IDC analyst against a standard assessment framework based on IDC’s DX taxonomy.
All the winning India digital transformation projects were selected as part of over 1000 high-quality entries received from end-user organizations across Asia/Pacific. All the country winners will qualify as one of IDC’s finalists for the regional awards, where they will be benchmarked against other winners in the same category to ultimately determine the region’s best of the best.
The regional awarding ceremony will take place during IDC’s Digital Transformation Summit in Singapore happening on 23-24th of October 2019 at the Raffles City Convention Centre, Singapore. For more information on the awards and judging criteria, please visit the IDC DX awards website www.idcdxawards.com
IDC defines Digital Transformation (DX) as the approach where organizations drive changes in their business models and business ecosystems by leveraging digital technologies (e.g. Cloud, Mobile, Big Data/Analytics, Social and IoT) and competencies. Business ecosystems are comprised of customers, partners, competitors and the business itself, along with its business and regulatory environment. To learn more about IDC’s Asia/Pacific Digital Transformation Strategies and research, visit HERE
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