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YES BANK is India’s fourth-largest private sector bank and is high quality, customer-centric and service-driven. Since its inception in 2004, YES BANK has grown into a ‘Full-Service Commercial Bank’ providing a complete range of products, services and technology-driven digital offerings, catering to corporate, MSME & retail customers. YES Bank works with the mission of being a high-quality, customer-centric, service-driven, private Indian Bank catering to the ‘Future Businesses of India’.

Challenges

YES bank envisioned a unified Insurance platform that could be used to find, analyse, recommend and purchase the most appropriate Life and General insurance policies for their customers. The unified platform was aimed at reducing the otherwise time consuming and cumbersome task of getting quotes from different insurer platforms. The platform also had to be integrated with a back end system that would collect information, reports and manage the users on the front-end application.

Solution

Turtlefin went to create two platforms for YES Bank which internally communicate with each other.

  • Insurance Distribution Platform - The front-end application included a lead management module to track sales along with a complete policy purchase journey

  • Administration Tool - The back-end tool was designed to be primarily used as a User Access Management Tool that would allow the Bank to upload all the users for the front-end application instead of creating them manually.

Insurance Distribution Platform

The Insurance Distribution was designed to give a modern experience to the RMs and customers of YES Bank

1

Integration with Yes Bank’s Active Directory for Single Sign-On

3

Customized Risk Assessment feature based on questionnaire and Risk Matrix

5

View for Product Details such as eligibility criteria, Product features, benefits & exclusions

2

API Integration with YBL’s CRM system to fetch Customer Information

4

Relevant Product Recommendation based on customer profile in Customer Risk Assessment

6

Policy purchase journey post customer consent via automated email

Administration System

The Back end administration system enabled YES bank to manage its sellers and partners. It plays a major role in managing all the data that is collected from the front-end app through an integrated system.

This Module has helped the bank to assign roles to the users based on which they could perform and access activities on the Insurance Distribution Platform.

The integration of YES Bank with Turtlefin’s front-end transaction and back end administration module has made their policy purchase journey seamless by digitally fetching quotes and information from multiple insurer portals to one.

 

The solution provided to Yes bank is one of its kind in the industry and would be the basis for working with future bancassurance customers.