Up to date: Jul 13, 2020 11:38 IST
Mumbai (Maharashtra) [India], July 13 (ANI): BSE Ebix Insurance Broking, a three way partnership of BSE and Ebix Fincorp Alternate, on Monday introduced the beta launch of life insurance on its platform by enrolling Aditya Birla Sun Life Insurance and Bajaj Allianz Life Insurance.
With this launch, BSE Ebix now has the flexibility to deal with insurance coverage gross sales throughout the three key insurance coverage verticals of life, well being and auto insurance coverage by utilizing its omnichannel digital presence supplemented by the ‘phygital’ pan-India bodily presence of BSE Ebix’s hundreds of point of sale persons.
The launch of life insurance coverage merchandise by BSE Ebix is a significant improvement from the corporate’s perspective since life insurance coverage is historically one of many fastest-growing insurance coverage segments within the nation.
New enterprise premiums in life insurance coverage within the nation quantity almost Rs 2 lakh crore with three crore insurance policies being written yearly. The life insurance coverage section has been rising at a CAGR of 10 per cent yearly.
As per trade analysts, this progress is anticipated to proceed for the following a few years.
“BSE desires to leverage its world-class expertise and experience in transaction processing and risk management in insurance coverage distribution,” mentioned Ashishkumar Chauhan, Managing Director and CEO of BSE Ltd.
“We’ve got skilled success in beta mode of insurance coverage distribution, and we count on to style related success in our journey going ahead as properly. It would additionally assist insurers increase their buyer base by the mixed attain of BSE and Ebix,” he mentioned in a press release. (ANI)