ICICI Securities partners with insurtech platform CoverStack; to offer insurance on ICICIdirect platform
Using CoverStack, ICICIdirect’s customers can now search, customize, compare, and sbuy the most suitable insurance plans for Health and Motor insurance, by comparing quotes and features from multiple insurance firms easily, it said in a press statement. | Representational Image
ICICIdirect, and CoverStack, a digital B2B platform for insurance services, today announced a partnership under which the entire customer journey on icicidirect.com for insurance products will be powered by CoverStack.
Using CoverStack, ICICIdirect’s 7+ million customers can now search, customize, compare, and sbuy the most suitable insurance plans for Health and Motor insurance, by comparing quotes and features from multiple insurance firms easily, it said in a press statement.
CoverStack, that also operates Coverfox Insurance (coverfox.com), follows a plug and play model, providing technological solutions and insurance infrastructure to Banking, Financial Services, and Insurance players. ICICIdirect is a registered corporate agent, offering insurance products from several life, general, and health insurance companies.
Kedar Deshpande, Head of Retail Distribution, ICICI Securities, said, “Using our partnership with CoverStack, we will be able to provide appropriate insurance products to these customers based on their life-stage and needs. Also, given CoverStack’s plug-and-play-model, we will be able to on-board future insurance principals quickly, thereby offering more choice to our customers.”
Commenting on the partnership and the potential of CoverStack, John Mayne, Executive Director, said, “The end-to-end integration of our customized tech stack with ICICI Securities will enable them to provide customized insurance solutions digitally to its customers, in a seamless and convenient way. In just a few clicks, customers of ICICI Securities can now fulfill their insurance requirements easily."
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