Bancassurance is now an established and growing channel for insurance distribution across different markets. Banks are essentially looking for a solution which covers the entire journey of an insurance customer acquisition, selling, servicing and relationship manager metrics management.
The bancassurance solution offered by Finacle helps banks expand their insurance offerings along with the insights on the customer and relationship manager metrics to drive business growth.
• Flexible definition of life, non-life, white labeled, unit linked and loan linked products
• End-to-end processing of all insurance transactions
• Comprehensive commission processing and reconciliation capability
• Premium schedule set up and auto premium debits
• Premium rule maintenance across insurance products for premium inquiry
• Interface with multiple insurance houses for policy detail, commission reconciliation and transaction reconciliation
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.
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