The Hero Corporate Insurance Division was set up with a vision to sell insurance products in an efficient and refreshing format. Employing state of the art technology, the Insurance Distribution Portal developed a web-based interface that allowed a distributor to sell multiple general insurance products to customers.
In 2018, the Insurance Regulatory and Development Authority has issued a three-year license in the “ Direct – Life & General” category to Hero Insurance Broking India Private Limited to conduct all types of General Insurance Business, including Health and Life Insurance. The insurance business carried out by Hero Corporate Service Pvt Ltd, has migrated to Hero Broking.
Continuous investments in cutting-edge technology has allowed the insurance distribution business of Hero Enterprise to sustain impact. In a little over a decade, it has sold over 60 million policies, and in FY17, Hero Corporate became the first distribution company to sell 10 million insurance policies in a year. The insurance solutions include identification, measurement, assessment and risk handling. A pan India network of trained professionals bridge the gaps between clients and the company, besides conducting risk assessments.
Hero’s insurance distribution business pioneered paperless policy issuance in India; continuous investments both at the front and back ends have meant that even as volumes have expanded, policy processing time has come down from 20 minutes to under two minutes. Hero Broking is now adding new layers to our technology platform in our efforts to become torchbearers of Digital India
The broking license is bringing new synergies to Hero’s strong insurance distribution ecosystem and is helping Hero Broking offer a wider choice of insurance partners and products to its base of customers. It is also helping the existing distribution touch points to become “One Stop Shops” for all basic insurance needs of the customer.
Hero Broking works with India’s leading insurers in General, Life and Health Insurance Sectors. The aim is not just to facilitate good relations but also to be an effective facilitator for all stakeholders, including end-customers.