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May 25, 2012updated 13 Apr 2017 8:44am

India’s IDBI adds online insurance platform

IDBI Federal Life Insurance, a joint-venture of Indias IDBI Bank and Federal Bank and insurance provider Ageas has launched an online platform where its Termsurance Seniors Plan is now available GV Nageswara Rao, managing director and CEO for IDBI Federal Life Insurance, said there is an increasing awareness for life insurance plans sold over the internet in India, with almost 10m searches every month. Rao said: Customers increasingly today prefer to make an informed decision about purchasing life insurance plans by going through the details and even comparing options

By Ronan Mccaughey

IDBI Federal Life Insurance, a joint-venture of India’s IDBI Bank and Federal Bank and insurance provider Ageas has launched an online platform where its Termsurance Seniors Plan is now available.

GV Nageswara Rao, managing director and CEO for IDBI Federal Life Insurance, said there is an increasing awareness for life insurance plans sold over the internet in India, with almost 10m searches every month.

Rao said: “Customers increasingly today prefer to make an informed decision about purchasing life insurance plans by going through the details and even comparing options.

The interactive online platform enables them to research the plan, calculate premium amounts and make payment online directly to the company to receive the insurance policy in the comfort of their homes.”

Rao added: “According to the National Online Survey Report for Review of National Policy of Older Persons – April 2010, ‘Insurance’ is reported as amongst the top five issues that require attention in the lives of senior citizens in India. There are a sizable number of people who would have missed taking an insurance cover when young.”

 

 

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