Wed, 23 Sep 2020

Mumbai (Maharashtra) [India], June 3 (ANI): BSE Ebix Insurance Broking, a joint venture of BSE and Ebix Fincorp Exchange, on Wednesday announced the beta launch of health insurance on its platform by enrolling Religare Health Insurance Company.

BSE Ebix had beta launched its operations on February 7 with the offering of a private car and two-wheeler auto insurance. Currently, there are six general insurance companies on BSE Ebix platform -- Bajaj Allianz General Insurance, Bharti Axa General Insurance, Future Generali India Insurance, HDFC ERGO General Insurance. Reliance General Insurance and SBI General Insurance.

Since the start of the beta launch, the BSE Ebix insurance distribution platform has been growing 100 per cent month-on-month in premium collected. It has registered 6,396 points of sale persons (PoSPs) out of which 2,779 are certified and ready to do business.

BSE Ebix's strategy is to have an unrivalled 'phygital' presence pan India by combining the physical presence of PoSPs with an omnichannel digital channel, thereby allowing its PoSPs to have access to extensive real-time quotes from insurance companies and complete the entire transaction online on behalf of their customers.

Through its technology, BSE Ebix empowers PoSPs to deliver best of the insurance products and also gives comfort to customers by transacting physically with the speed of digital technology.

The launch of health insurance strengthens our offerings in the insurance distribution segment, said BSE Managing Director and CEO Ashishkumar Chauhan.

"BSE wants to leverage its world-class technology and expertise in transaction processing and risk management in insurance distribution. We have experienced success in the beta mode of insurance distribution and we expect to taste similar success in our journey going forward as well," he said in a statement.

BSE Ebix also plans to venture into insurance offerings for commercial vehicles like truck, tractor, auto, taxi and commercial products like fire insurance, liability insurance and shopkeeper insurance. (ANI)

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