India''s first insurance shopping website in India was launched in Mumbai today.
The site, insurancemall.in offers customers complete insurance solutions including
an online choice between the products of leading insurance companies, online purchase
and claims assistance.
site provides indigenously developed ''quote-engines'' to compare, choose and buy
bvarious insurance policies online. The website also offers complete portfolio
management (renewal auto- reminders to advisory) and claims assistance on policies
at the launch of the website, Manish Jaiswal, founder and CEO, Bonsai International
Group, said, "The timing is ideal for insurancemall to enter the Indian market.
Besides witnessing 100 per cent y-o-y growth, the Indian insurance industry has
been going through many transformations like detariffing, impending entry of new
insurance companies, launch of new products, which will create more choice for
the Indian Insurance customer."
all the products will be sold online, the website has set up an offline customer
service and operations infrastructure to assist insurance buyers shop as well
take care of their claims.
Chopra, head, eBusiness, said, "E-distribution of insurance is still to take
off in India with only two insurance companies offering online issuance. We intend
to help net enable the entire offline insurance industry for the customer."
one of the group''s subsidiaries, the website has also been scaled to the US, which
is among the most mature insurance markets. "Our indigenous engine being
completely flexible, we plan to scale the website with offerings from across the
globe." said Niraj Jain, principal officer.
Bonsai International Group started in 2004 is an integrated full
service financial services group of companies in the insurance broking and money
changing business. The website is part of Bonsai''s efforts to provide customers
with tech-leveraged innovative solutions.