Canara HSBC OBC Life Insurance launches CHOICeNET portal

Canara HSBC Oriental Bank of Commerce Life Insurance today launched CHOICeNET, a portal that will allow bank employees to provide end-to-end information for their customers' life insurance policies.
"The company announced e-integration in bancassurance with the launch of CHOICeNET, an innovative portal embedded with the partner banks' intranet that allows bank employees to provide end-to-end information for their customers' life insurance policies," a release issued here said.
The company has already implemented several online facilities within its customer portal for net-savvy customers of all three banks, it said.
"CHOICeNET was created to reach out to customers in Canara Bank and OBC who have a greater orientation and inclination towards dealing directly with their local bank branch," the company said.

The portal easily allows bank staff to see insurance policy details and to track the progress of applications, during the application process and after the policy has gone in-force.
"Being an integrated bancassurer is our unique and sustainable competitive advantage and CHOCIeNET is an example of how we do it. Integrating our systems with the bank through CHOICeNET and other initiatives, aims to ensure continued high levels of persistency by providing excellent service standards to customers and relevant information to banks' branch and circle level staff," its Chief Executive Officer John Holden said.

The knowledge that their bank is also the single access point for any queries, servicing needs and for access to policy will enhance customer trust when buying a policy, he said.

During the application process for a new policy, CHOICeNET provides benefit illustrations, with application tracking and other real time access to information on the policy.
A customer can receive an acknowledgement for their first year premium and historical premium receipts. The portal also enables renewal premium payment using direct debit on Canara Bank and OBC's Core Banking System, together with instant renewal premium receipts.