Now distributors can sell life insurance policies through an exchange platform. BSE has launched beta version of its life insurance distribution platform ‘BSE Ebix Insurance Broking’ by tying up with Aditya Birla Sun Life Insurance and Bajaj Allianz Life Insurance.
With this, BSE Ebix offers insurance sales across the three key insurance verticals of life, health and motor insurance.
So far, over 7250 distributors and brokers have become point of sale persons (PoSPs) for the platform. Of the total PoSPs, 3229 sales representatives are active.
In a press release, Ashishkumar Chauhan, MD & CEO, BSE said, “Launch of life insurance on BSE Ebix platform further strengthens our offerings in the insurance segment. We have chosen these two life insurance companies for their brand and world class service in settlement of claim in private sector insurance. 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.”
In future, BSE Ebix plans to offer other insurance products for commercial vehicles like trucks, tractor, auto, taxi; commercial products like fire, liability, shopkeeper insurance; and other personal lines of business like home, personal accident, travel insurance and so on. The platform also plans to add more insurance companies in each insurance vertical in coming days.
In 2017, BSE had partnered with American insurance exchange firm Ebix to set up an insurance distribution network in India.
