Now distributors can sell NCDs and insurance policies through an exchange platform. BSE Star MF will soon allow its distributors to distribute non-convertible debentures (NCDs), corporate bonds and insurance policies.
Omkeshwar Singh, Head, MF Business, BSE Star MF told Cafemutual that the exchange platform will start offering NCDs and corporate bonds within two months while the distribution of insurance policies will start by December 2018.
BSE will set up an insurance distribution network platform with world’s largest insurance exchange, Ebix Inc. to distribute life, non-life insurance and health insurance policies through a network of insurance intermediaries. The venture will utilise the existing distribution reach of BSE and technology support of Ebix Inc. The company aims to expand its footprint in India by investing $200 million in the financial exchange services space.
Mutual fund distributors can sell these policies by becoming point-of-sales persons (PoSPs) for the platform. Agents and brokers can appoint PoSPs to distribute simple insurance policies such as term insurance and endowment plans having standardized features.
