Indian Bank has joined hands with United India Insurance Company (UIIC) to launch a web portal offering online entry and renewal of group insurance policies. This step was taken in order to move towards a more customer friendly business model. The bank and UIIC have developed this web portal which will offer online entry/renewal (of policies) among other services.
Since 2006 the bank has been offering a Arogya Raksha Group Mediclaim Insurance Policy to its customers. The entire operations till now were done manually consuming huge time.
The bank proposes to add about 10,000 online policies through the portal during this year and generate over Rs 20 crore in commission earnings. This online facility would be extended to other policies also.
