IndiaFirst Life Insurance has launched MagicBoard, an integrated portable device.
The device, comprising a Samsung tablet PC and a battery powered printer, is a mobile office that can issue a policy on the spot.
A sales person can now complete a sale on the spot (with or without access to internet) within 15 minutes.
MagicBoards, which have been supplied to the company’s total sales force of 1,000 (each kit costing around Rs.35,000), is expected to enhance efficiency at the organisation and bring transparency in the policy issuance process.
IndiaFirst Life Insurance is a joint venture between Bank of Baroda, Andhra Bank and U.K.'s Legal & General. This three-year old company has a market share of 2 per cent.
