Reported by: banking|Updated: November 17, 2017
Universal Sompo General Insurance Co has launched a mobile app for its PoS distribution channel to further enhance and improve penetration of its general insurance products. The mobility platform and solution, which the bank has launched, will give the benefit of policy issuance at a single instance without the need to set up a branch infrastructure or operations. The new PoS channel will utilize mobile based application and the users will be company appointed PoS persons who will solicit and service new business and customers through the app. The company will be extending a set of pre-underwritten and IRDAI approved products to customers for motor, health and critical illness initially. Rajiv Kumar, MD & CEO of the company, said with the mass scale adoption of mobile devices that have enabled deep penetration of communication devices, it was pivotal for the company to have its insurance products being made available to the foot soldiers across India, where a physical branch presence and operations look unviable. He is hopeful that the company will be able to reach out to those sections of the society who remain outside the reach of insurance products and are in need of quick policy issuance for mitigating risks towards personal and material assets. The app will be available to be downloaded on the smartphones of PoS personnel’s, which will enable them to reach out to the masses in their respective geographical locations and extend products that require minimum personal details from the customer for providing instant issuance of coverages to meet the customer needs.