Now distributors can sell health insurance policies through an exchange platform. BSE has launched beta version of its health insurance distribution platform ‘BSE Ebix Insurance Broking’ by tying up with Religare Health.
BSE Ebix will soon offer health insurance policies of other non-life and standalone health insurance companies and life insurance companies.
Currently, the platform offers distribution of motor insurance policies through its platform. In fact, the platforms offers motor insurance policies of six general insurance companies - Bajaj Allianz General Insurance, Bharti Axa General Insurance, Future Generali India Insurance, HDFC ERGO General Insurance, Reliance General Insurance and SBI General Insurance.
So far, over 6000 distributors and brokers have become point of sale persons (PoSPs) for the platform. Of the total PoSPs, 2779 sales representatives are active.
In a press release, Ashishkumar Chauhan, MD & CEO, BSE said, “Launch of health insurance strengthens our offerings in the insurance distribution segment. We have experienced success in beta mode of insurance distribution and we expect to taste similar success in our journey going forward as well. It will also help insurers expand their customer base through the combined reach of BSE & Ebix.”
Ebix Group Chairman, President and CEO Robin Raina said, “Through this venture, our goal is to revolutionize not only buying of insurance from a consumer perspective but also enable insurers to distribute insurance products in a highly efficient manner, while automating and integrating complex back-end processes seamlessly with front end distribution.”
In 2017, BSE had partnered with American insurance exchange giant Ebix to set up an insurance distribution network in India.
