Karnataka Bank has launched a new digital insurance platform called KBL Finsurance. The portal has been developed to simplify the creation, tracking and monitoring of insurance business leads across the bank’s branch network. The bank said the launch is an important step in its digital transformation journey.
Platform Powered by SprintMoney
KBL Finsurance is powered by SprintMoney, a fintech company that provides digital solutions to banks and financial institutions. SprintMoney offers solutions such as an AI-powered Customer Relationship Management (CRM) system, Digital Wealth Suite, Relationship Management Module, secured lending platform and Digital Insurance Suite.
Branch Employees Can Track Insurance Leads in Real Time
The KBL Finsurance portal will allow Karnataka Bank’s branch employees to generate and track insurance leads in real time. Employees will also be able to monitor the status of insurance policies and access business Management Information System (MIS) reports through the platform.
Integration with Insurance Companies
Karnataka Bank has partnered with SprintMoney, operated by Wildflower Business Services Pvt. Ltd., for the platform. SprintMoney has helped integrate Karnataka Bank with its tied-up insurance companies through the KBL Finsurance platform. This is expected to make insurance-related operations easier for the bank’s branches.
Bank Aims to Improve Bancassurance Operations
Karnataka Bank MD & CEO Raghavendra S Bhat said the new portal is another important step in the bank’s digital transformation journey. According to the bank, technology will help streamline bancassurance operations, provide real-time capabilities to branches and improve service efficiency. The initiative is also expected to strengthen the bank’s insurance business and improve customer engagement.
Portal to Simplify Insurance Business Process
According to Karnataka Bank General Manager, Branch Banking & IT, Raghuram H S, the platform will simplify the complete insurance business process, from generating leads to tracking policies. Automation and real-time information are expected to improve employee productivity and monitoring while helping branches provide a smoother customer experience.
