TurtleFin, India's leading insurtech platform, has partnered with YES BANK, to create a comprehensive technology platform - EasyNsure. Turtlefin's distinctive API will power the platform to offer a bouquet of holistic insurance solutions on a single platform, at the click of a button.
EasyNsure, is a first-of-its-kind proposition for Yes Bank that will bring multiple insurance partners onto a common platform, providing a host of benefits such as - a seamless single point online insurance service, ability to compare and select a suitable insurance cover basis the customer's need, as well as a facility to compare costs for rationalizing purchase decisions, among others. Turtlefin's unique and customized technology solutions will enable the platform to offer seamless customer experience to its clientele.
The EasyNsure platform is already live with over 40 Life and General Insurance plans being readily available for consideration. So far, the platform has created over 30,000 insurance quotes with more than 6,500 proposals and 5,200 policies being punched. This has helped the platform recorded a total premium of INR 6,050 lakh.
Commenting on the partnership, Mr. Sanjiv Roy, Country Head - Fee Income, YES BANK, said, "We, at YES BANK are constantly exploring innovative ways to simplify the customer's journey across products and services. Digitalization has played a key role in our endeavour to achieve this feat. In keeping with this thought, we are happy to have partnered with TurtleFin to launch EasyNsure that aims to offer our customers with a bouquet of holistic insurance solutions on a single platform, at the click of a button. We strongly believe, this partnership will further strengthen YES BANK's presence within the insurance domain as customers will have the absolute right to choose from all the available options, basis their requirement and financial comfort. We will continue to co-create more such propositions that provide customers with an inclusive e-banking experience."
Speaking on the occasion, Mr. Amreesh Kher, Chief Partnership Distribution Officer, Turtlefin said, "Bancassurance landscape has been evolving over time, and with the new set of challenges, newer solutions are required for banks to enhance their distribution processes. Turtlefin provides a disruptive solution by digitising and simplifying their entire insurance distribution value chain and ensuring that our cutting-edge technology acts as a bridge between the insurer and the bank. With this alliance, our objective is to expand our reach and be the choice of insurtech platform for the bancassurance businesses, and fulfill their evolving needs. We are creating a system for YES BANK that will be channel agnostic, and any business vertical will be able to access it conveniently and offer all the products to its customers hassle free. Turtlefin will be the one-point contact for all future integrations and tech requirements with the insurer on behalf of YES BANK".
This robust technology platform will also allow business tracking across Bank hierarchy, simplifying revenue reconciliation. It will enhance in tracking the productivity of RMs on quotes created versus actual conversion of leads.
Shares of Yes Bank Limited was last trading in BSE at Rs. 17.05 as compared to the previous close of Rs. 17.20. The total number of shares traded during the day was 7527523 in over 15875 trades.
The stock hit an intraday high of Rs. 17.30 and intraday low of 17.00. The net turnover during the day was Rs. 129107360.00.