Insurance Distribution Through Banks and other Alternate Channels

An insurer distributes cargo insurance through large European bank leveraging bank’s local distribution power to tap into large local small/medium sized company market.

Key Features

• Fully integrated quote, bind, issue and invoice offering for cargo insurance
• Integrated with bank’s financial trade application for access by bank employees and branch sales staff
• Integrated with bank’s online letter of credit offering for direct online sales to bank customers
• Certificate issued directly through the bank’s systems
• Real-time referral workflow and follow-up by insurer through Genoa

Benefits Realized

• Insurer has an efficient method to process a high volume of one-off transactions without manual intervention of any kind
• Integration with customer systems solidifies the long-term relationship
• The alternative distribution channel adds premium that would otherwise be inaccessible
• Eliminates redundant data entry and associated errors / inconvenience
• Leads to other insurance opportunities