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Edelweiss General Insurance launches IPOS, an end to end partner onboarding solution

Posted On: 2021-05-18 15:09:28 (Time Zone: UTC)

InsurTech start-up Edelweiss General Insurance (EGI), has launched yet another industry first digital offering, IPOS (Integrated Partner On-boarding Solution). This is a fully automated onboarding solution for all its existing and prospective partners including Agents, Brokers and Web Aggregators. EGI and its partners stand to gain through improved throughput and enhanced efficiency using this digital platform, which would entail minimal manual intervention.

IPOS will enable the sales workforce to create or upload any number of prospects in real time, with the ability to scrutinise, approve and digitally process them with greater efficiency. IPOS has been envisioned to address the protracted time taken to onboard agents. It can help complete the whole process in under 24 hours! The digital platform allows the partner to undergo a DIY journey of uploading the documents and initiating the onboarding process with EGI.

Commenting on the launch, Rakesh Kaul, Chief Distribution Officer, Edelweiss General Insurance, said, "We are proud to come up with industry first solutions. IPOS is an end to end partner onboarding platform with intuitive and easy to use interface along with tight integration with our core systems. It is a DIY journey for a partner right from uploading documents, initiating onboarding, training, examination, etc. The objective here is to completely digitise a partner's journey and bring in more efficiency."

IPOS is a unified portal for all partner related onboarding requirements. It has multiple features like easy visualisation capabilities, a built-in learning system where partners can take up practice tests. The platform has taken care of privacy and data security requirements. It will also allow for more accurate data filing with the regulator. Overall, a digital platform that empowers partners and enhances their experience, resulting in a self-guiding onboarding journey.

EGI recently launched an Open API Gateway to strengthen digital capabilities of its partners and facilitate complete digital collaboration with them. It is the first of its kind by any General Insurance company in India. The platform will bring in transparency and enhance the experience for insurance partners who seek to access EGI's services to provide a seamless journey to customers. The gateway will offer quicker integration with EGI services and policies with a shortened integration cycle, both time and cost-wise.

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.61 as compared to the previous close of Rs. 61.4. The total number of shares traded during the day was 89385 in over 891 trades.

The stock hit an intraday high of Rs. 62.15 and intraday low of 60.75. The net turnover during the day was Rs. 5479774.

Source: Equity Bulls

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