Online Business Model
The uniqueness of the Online Business Model (OBM) solution is the Enterprise Architecture that provides online capabilities for multiple distribution channels like Customers, Agents, Brokers, Bancassurance and Affinity Partners etc. across the insurance value chain. The solution also aims to integrate the multiple technology and distribution channels including white-labeling features. OBM enables insurers to address the twin challenges of dwindling market share and inconsistent product and service delivery. This is achieved by gaining mind share of new gen customers and distribution channel partners that enables channel expansion, expanding geo reach and expansion of product lines. Insurers therefore can retain their market share and grow in absolute volume.