Overview
Client: Leading Indian Bank with 900+ branches nationwide
Goal: Scale and modernize bancassurance with a unified, digital-first solution
Core Challenges
- No unified platform for insurance lifecycle management
- New product rollouts took 4 - 6 weeks
- Manual workflows and high IT dependence slowed partner onboarding
- Fragmented customer journeys; inconsistent user experience
- No real-time operational or performance visibility
Solution Requirements
The bank sought a solution that would:
- Unify all insurance partners and products on a single platform
- Drastically reduce go-live times and IT dependency
- Enable paperless, seamless onboarding for insurers and POSPs/SPs
- Offer robust automation and real-time insights
- Support both assisted (RM-led) and digital customer journeys
- Improve compliance without compromising user experience
Nvest's Nverse Solution
- Unified Bancassurance Platform: One end-to-end solution for all insurance categories including life, health, and general.
- Single Dashboard: Centralized interface for managing products, partners, and leads.
- No-Code Setup:Launch new insurance products in under 5 days with no IT required.
- Core Integration:Real-time data sync with Core Banking System for instant, pre-filled digital journeys.
- Omnichannel Capabilities:Seamless experiences across branch-assisted and mobile or app-based channels.
Results
- 10× increase in GWP in 3 years
- 300+ insurance products launched (life, health, general)
- Go-live for new products in 5 days (vs. 4 - 6 weeks previously)
- 100% branch adoption across 900+ branches
- Paperless journeys: From onboarding to issuance to servicing
- Real-time dashboards: Live tracking of leads, conversions, and payouts
- Future-ready scalability: Effortless partner management and compliance