Birla Sun Life Launches Portal For Online Insurance Purchase

Posted online: Thursday, Dec 11, 2003 at 0000 hrs
Kolkata, Dec 10: : Birla Sun Life Insurance Co Ltd (BSLI) on Wednesday announced the launch of its e-commerce portal to enable purchase of an insurance policy through its website, www.birlasunlife.com. This is the first offering of its kind by a life insurance company in India.

Announcing the launch of the portal here on Wednesday, Birla Sun Life chief executive officer Nani Javeri said that the new portal has been powered by enhanced transactional capabilities. He said that there are three stages of operation in the process of online purchase of insurance policies.

The first step in this process helps the customer to understand the life insurance requirements, identify the right plan and explain the features of the recommended plan. The second step is the application process where the policy illustration is created and the application form is completed.

The final stage is the payment page from where the customer can buy the policy online using credit or debit cards.

After the customer pays the premium, a BSLI insurance officer will meet the person within 48 hours to collect the age proof and get the signature on the application form and the policy illustration.

Mr Javeri said that in the first stage, the Birla Sun Life Flexi Secure Life Retirement Plan (without life cover) and the Birla Sun Life Single Premium Bond will be available for online purchase.

Senior vice-president P Nandagopal said that in order to provide service to an existing customer, a number of features have been incorporated which would help one to track his policy online. “For the Birla Sun Life agents, facilities such as the details of all the customers, e-mail and SMS alert for licence renewal as well as status of any policy of their customers, medical facility locators and training modules are available online,” he said.

It is learnt that the company site has been powered by a payment gateway to accept receipt of first premium through Master and Visa credit cards.

Mr Javeri said that the company has sold 75,000 policies last year and has set a target to increase the figure to 1,80,000 lakh by the end of the current fiscal.