Tuesday, June 19, 2007

India’s first insurance shopping website launched

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.

Insurancemall.in provides the common man with indigenously developed ‘quote-engines’ to compare, choose and buy Insurance online. The website also offers complete portfolio management (renewal auto- reminders to advisory) and claims assistance on policies purchased.

The website endeavors to give the common Insurance buyer complete power of information and decision making.

Speaking at the launch of the website - Insurancemall.in, Manish Jaiswal, Founder and CEO, Bonsai International Group, said, “The timing is ideal for Insurancemall to enter the Indian market. Besides witnessing 100% 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.”

While 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.

Mahavir 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."
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