In a bid to empower the average Indian mitigate his risks with the appropriate insurance products; Choice Group has launched a fintech aggregator platform -- ISMOS offering life, health and general insurance. “With insurance penetration in India being just over 2 percent, the intuitive, interactive and tech-enabled platform with universal reach, offers comparable quotes from multiple insurance companies that would facilitate the customer or user to take a well-informed decision keeping his risks in mind,” said Suyash Patodia, Executive Director of Choice Insurance Broking.
Choice Insurance Broking Pvt Ltd is in the process of being acquired by BSE-listed Choice International to be its wholly owned subsidiary, and IRDA’s approval for the same is awaited.
Customers will be able to extract a quote directly from several insurance companies on the ISMOS platform and buy the insurance policy of his choice, instantly without any hassle, he said. To supplement the online initiative, the platform has enrolled over 1,000 IRDA approved PoSPs (Point of sales persons) so far to aid users if they seek assistance. The platform will also facilitate claims through third party administrators (TPAs).
