India-based Oriental Bank of Commerce (OBC) has rolled out a online system to offer Canara HSBC Oriental Bank of Commerce Life Insurance products to its customers.
It says that the Webassurance platform helps customers address their financial needs through a digital and paperless process.
Four Canara HSBC Oriental Bank of Commerce Life Insurance products will be available to clients of OBC to help people plan for their children’s future; as well as save for retirement.
Mukesh Kumar Jain, managing director and chief executive at OBC, said: “An average Indian user is spending almost two to three hours a day on [the] internet for various exploration purposes.”
As a result, OCB is looking to develop online processes to help customers get easier access to transact on its platforms, he said.
Life product launch
The firm has also unveiled a life insurance product POS – Easy Bima Plan, which will be available via the bank’s website and its online portal.
The POS product is an insurance and saving vehicle that can be bought over the counter.
Jain added: “Both the launches will help in comforting buyers to opt for life insurance policies at a click and with this association we are quite confident that we will be able to service customer in a more holistic way.”
