Choice group launches aggregator platform for insurance products

Mumbai-based financial conglomerate Choice group has launched a fintech aggregator platform -- ISMOS offering life, health and general insurance, a company release said, Monday.

“With insurance penetration in India being just over 2%, 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.

Drawing a parallel with e-commerce portals like Amazon or Zomato or for that matter discount broking platforms in the financial space, Patodia believes that with Digital India being now at the core of Indian economy, ISMOS is a one-stop solution to improve insurance penetration in the Indian market with a basket of risk mitigation products with the help of in-built filters to eliminate mis-selling.

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.

Source: Live Mint