Public sector general insurer Oriental Insurance Company is planning to invest around ₹500 crore over the next three years to strengthen its digital capabilities, focusing on enhancing customer centricity. According to reports from PTI, Chairman and Managing Director Sanjay Joshi confirmed the company has its own resources and budgeted for the technological boost. The insurer has already floated some Request for Proposals (RFPs) and plans to take up the rest over the next two years.
As reported by PTI, OICL is working on a data lake project and taking steps to further strengthen its data security infrastructure. A data lake project is a centralised storage repository that holds vast amounts of structured, semi-structured, and unstructured data in its raw format. The company is also looking to onboard more digital products at the earliest as part of its efforts to improve customer experience and make its services more accessible.
According to PTI, Joshi highlighted that the company recently launched its end-to-end digital journey for Motor Own Damage (OD) claims, aimed at making claims processing faster, more transparent and convenient for customers. The company wants to replicate this digital approach in other segments, with focus remaining on customer centricity and sustainability. The insurer has also launched Oriental DigiBiz, the company's first dedicated digital office for customers purchasing insurance directly online.
As reported by PTI, the company introduced new and enhanced insurance offerings, including the Oriental Gramin Health policy, Oriental PA Parivar Suraksha policy, Roadside Assistance Add-on and enhanced Return to Invoice (RTI) Add-on. For the financial year ended March 2026, Oriental Insurance's gross premium crossed ₹20,000 crore, signifying growing trust of policyholders, intermediaries, and stakeholders in the company.
