Edelweiss General Insurance launches IPOS, an

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

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.

Edelweiss General Insurance launches India’s first Open

Edelweiss General Insurance launches India’s first Open
API Gateway for Insurance products

 Edelweiss General Insurance (EGI), India’s first cloud-native insurer, has launched a first of its kind, Open API (Application Programming Interface) Gateway, to facilitate complete digital collaboration with its business partners. With this Gateway, EGI’s authorized partners can easily integrate their systems with the company’s robust technology platform, which will help further reinforce EGI’s linkages with both customers and partners.

Not only would this enable EGI’s distributors to speedily integrate available and new products and services, but also significantly lower the cost of integration and retrieve information such as product premium, policy details etc., in real-time, which would help in reducing turn-around time for customers. The Open API Gateway is also aimed to bring in a seamless and delightful experience to the end consumer. The integration will create more choices for the consumer and will also offer much better experience with regards to policy purchase, post issuance needs such as policy information updates, and claims.

Commenting on the development, Shanai Ghosh ED & CEO, Edelweiss General Insurance, said, “APIs have become an essential element in today’s digital economy and are rapidly transforming the way we work. Our Open API Gateway is aimed to make API consumption easy in a self-assisted manner. It is our endeavour to strengthen digital capabilities of our partners, in a simple and effortless manner. We have provided a robust and comprehensive documentation of APIs, including example code samples, so our partners can get started within a matter of minutes with an easy sign-up process.”

The Open API Gateway system allows partners to access documentation of the open APIs, leverage code samples, easily conduct testing in staging as well as on environment. With productivity for developers improving enormously, they can now focus on the unique proposition of their applications while outsourcing all the commodity functionality to APIs. The Open API Gateway will also offer quicker integration with EGI products with a shortened integration cycle, both time and cost wise, access to real-time information on product premium, etc. without having to rely on offline mechanism.

EGI has always aimed to provide insight based, simple and innovative solutions that provide tangible value to customers. Leveraging technology to meet evolving needs of consumers has always been the endeavour. It recently launched SWITCH, an on-demand, app-based motor product that offers savings and convenience together to consumers. Likewise, in the health space, EGI has a very unique product, Health 241, a first in the industry where if the first year is claim free, the customer is covered absolutely free for the second year.