IDBI Federal Life Insurance Company - Next Gen Online Portals

The Problem: This project has not been initiated because of a specific problem in mind, but because of the need of an innovative online platform to the various stakeholders of IDBI Federal.

The Solution: Next Gen is a strategic investment, done with a view to create an innovative platform for potential customers, staff and distributors and partners in order to maximize revenues, and reach out to the B2C segment. B2B integration targeting distribution channels (Agency & Alliances), bank partners (IDBI and Federal Bank) and customer support staff, to help them serve customers in an efficient manner is another major objective.

The Result: A sum of Rs 60 million of revenue is generated through online policy renewal payments on www.idbifederal .com. Cost savings in infrastructure, reduced vendor maintenance costs and decreased TAT have been achieved. Distributors in remote locations can access customer details as well as commission details via the agency & alliances portal, thereby saving on transportation costs of travelling to a central branch. Increased visibility on the sales progress, training content, product catalogues, service updates, MIS, etc are also achieved.