"The Briisk platform allowed Kotak Life Insurance to take its sachet-size life covers into the rural heartlands of India, quickly and effectively." This innovative on-demand micro life insurance in rural India supports financial inclusion in emerging markets.
Briisk’s Insurer Solution provides Kotak Life in India with the full-stack Briisk Instant Transaction Platform and the Briisk Insurance Module to digitise their micro life insurance and savings product, Sampoorn Bima. The Briisk White Label is used by Kotak Life’s distribution partners to sell life insurance in rural India. We are integrated with Kotak’s core systems via SFTP and APIs, have integrated with the Kotak Payment Gateway Service Provider, and with several other payment gateways to provide a swift local payment service. Customers can invest INR 200 to INR 1000 per policy and either receive a savings pay-out after five years or claim on the insurance policy. This innovative on-demand micro life insurance in rural India supports financial inclusion in emerging markets.
The time from inception to launch of this digital insurance solutions was four months.
This digital insurance solution has resulted in new several distribution networks being added and new agents being added every week. Sales are growing progressively.
The Briisk platform allowed Kotak Life Insurance to take its sachet-size life covers into the rural heartlands of India, quickly and effectively. The simple UI ensured that even first-time users did not find much of a hassle to complete the online journey conveniently. The platform is scalable and can accommodate multiple partners and products. Many of the features can be parameterised, which makes customisation super easy. And complementing the brilliant platform is a team that is prompt, responsive, understands the business side and adds value in the solutioning part as well. It is a pleasure to have Briisk as our InsurTech partner.”
Dibyendu Nandi, Head of Rural & Mass Market, Kotak Life
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