The Challenge
Customer is a broker, offering variety of insurance products in Motor, Health, Travel, Office and Term Life LOBs. One of the biggest challenges was the manual process of negotiating deals from different insurance companies and then offering it to the customer. This gave rise to a need of an online software for insurance brokers and agents that would help obtain quotes from different insurance companies, facilitate comparison of quotes and in addition enable policy purchase. Above all, there was no interface for customers to intimate claims or cancel policies.
The Solution
iNube implemented an exclusive insurance broker technology to meet the requirements of the customer.
Each customer mapped to a particular Agent in Round Robin manner
Customer Authentication enabled through OTP verification during registration
Product Configuration for all LOBs (Motor, Health, Travel, Office and Term Life)
Service API integration with multiple insurance company portals
Quote Generation, Quote Comparison and Policy Purchase enabled
Offline Quote generation capability
Claim Intimation and Policy Cancellation available in Customer Portal
Creation of Promo code and deals by Agents
Integration with e-Data services and CC Avenue for Payment
MIS Reports generated
Value Delivered
Enhanced Cross Selling of other Line of Business (LOB) insurance products
3500+
Customers currently using the portal to issue quotes and policies
1500+ Policies and 2500+ Quotes
In Motor LOB have been issued using the portal
More than 40%
Reduction in TAT
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