The Challenge
The customer had a multi-channel distribution model encompassing Bancassurance, Agency, Broking and Retail Direct Channels. The customer was in need of a unified and robust platform to manage all intermediaries and digitally enable them.
The Solution – Unified Platform for Insurance Intermediaries
iNube bundled two products from its stack – PolicyLive and APPsLive to create a seamless unified platform for intermediaries.
Solution coupled with customer’s core insurance system enabled real-time issuance of policy to end customers PAN India
Mobility extension of PolicyLive –extended the reach to tier 2 and tier 3 cities.
Locally configured premium calculation logic
Built-in underwriting rules and workflow enabled for underwriter to login and take decision on non-STP policies
Other key capabilities introduced – Endorsements, Claim intimations, Agent Commission management, Agent Credit Float management etc.
Value Delivered
50%
Reduction in TAT for Quote to Policy conversion
20000+
Policies issued per month
16000+
Intermediaries enabled
100000+
Quotes generated per month
