AGS Transact Technologies and Global India Insurance Brokers (GIIB) have announced the launch of Digital Motor Insurance at their ONGO Android POS terminals. Through this, merchants will be able to provide instant motor insurance solutions to customers through ONGO. The motive behind this step is to increase the penetration of motor insurance in the country and provide easy access to customers.
Through this solution introduced for the first time in the industry, two-wheeler and four-wheeler owners will be able to get motor insurance from accessible touchpoints such as fuel retail stations and local / grocery stores through a fully digitized and documents process. In the first phase, about 25000 policies will be released through 5000 ONGO Android POS terminals under this partnership between ONGO and GIIB.
- The policy will be issued in a few minutes.
- Customers can purchase a new policy through a credit/debit card transaction from their nearest merchant such as fuel retail station, grocery store or any ONGO merchant, renew the old policy.
- Underwriting and premium calculations through API integration.
- Paperless and digitized insurance process with minimal documentation. To get a new vehicle policy, only the sales letter given by the dealer will be required. An old policy copy or RC copy will be required to renew an existing / lapsed policy.
- Online Policy Cancellation and Endorsement.
- Customer care support through partner help companies or GIIB helpdesk for queries or information on claims.
Access to motor insurance services will increase in small cities
Talking about the launch of this new feature, Mahesh Patel, Group Chief Technology Officer, AGS Transact Technologies said that ONGO’s system offers digital solutions that provide a better experience to consumers by easing difficult merchant/industry processes. We have partnered with GIIB for the purpose of plugging the gaps in the motor insurance sector by using a wide network of ONGO merchants and digitizing the manual process.
This will reduce the time taken in the current process, as well as the entire process will be document-less. We are confident that this partnership will help especially small cities and access to motor insurance services in cities will increase and consumers will be able to experience faster digital services.
Complimentary service will also be available
On the new platform for customers, many complimentary services such as integrated claim management system, online policy cancellation and endorsement etc. will be available. To become Certified Agent (POSP), Global India Insurance Brokers will also provide training / MISP certification platform approved by the IRDA in various languages to ONGO merchants. This platform will ensure that POSP can be trained to provide user-friendly, simple and secure policies.
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