Enabling Bancassurance & Agency distribution for a Tier 1 Life Insurance Carrier

Insillion TeamInsillion TeamApril 4, 2025

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Overview

INSILLION’s digital transformation of agents & Bancassurance partner experience through a modern and integrated multi-channel approach enabled the life insurance carrier to increase productivity and performance while simultaneously meeting channel partner’s data security requirements.

Client

The Client is a leading life insurer in India, which was established through a Joint venture between India’s two leading banks and a global life insurance organization.

The carrier has a network of over 15,000 bank branches and serves more than 10 million customers through its 8,000+ employees across India by offering individual and group life insurance since its inception in 2009.

The joint venture partner is a global insurance organization, one of the top ten life insurers worldwide.

Challenges

  • Bancassurance users & agents were the carrier’s strategic partner and needed a comprehensive portal
  • Time taken for policy issuance was extensive due to paper-based processes.
  • The carrier wanted to ensure a smooth document and medical management process through a centralized system.
  • The carrier required the data captured by the bank branch user and agents to be verified and authenticated by the customer.
  • The carrier wanted to retain the usage of their existing Excel-based rate calculators.

Results

  • Bancassurance users & agents were the carrier’s strategic partner and needed a comprehensive portal
  • Time taken for policy issuance was extensive due to paper-based processes.
  • The carrier wanted to ensure a smooth document and medical management process through a centralized system.
  • The carrier required the data captured by the bank branch user and agents to be verified and authenticated by the customer.
  • The carrier wanted to retain the usage of their existing Excel-based rate calculators.

Author Details

Insillion Team

Insillion Team

Insillion helps carriers and MGAs modernize and scale with our cloud-based, low-code platform. With over 20 years of experience, we go beyond technology, collaborating with industry leaders to address insurance’s most pressing challenges through our content.

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