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Portal allows customers to choose advisors ING Vysya Life tests new biz plan here

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Mr Frank Koster, MD and CEO, ING Vysya Life, and Ms Pallavi Chopra, Manager, e-business, ING Vysya Asia - Pacific, at the launch of a portal in Bangalore on Tuesday. - - G. R.N. Somashekar
Mr Frank Koster, MD and CEO, ING Vysya Life, and Ms Pallavi Chopra, Manager, e-business, ING Vysya Asia - Pacific, at the launch of a portal in Bangalore on Tuesday. - - G. R.N. Somashekar

Our Bureau

Bangalore, Dec. 27

ING Vysya Life has borrowed the blogging concept to provide an online presence to its top insurance advisors who can use the portal to increase their strike rate for converting their business from a larger number of potential customers.

The platform provides the prospective customers the facility to select from the 27 advisors in six cities featured on its Web site and interact with them to get a comprehensive information on insurance products.

The interactive service will not eliminate personal meeting to clinch the subscription. However, it would help in sharper advisory capabilities to target the right products to the right customers.

"This is a portent of the future. We have brought together advisors and customers in a fresh new way of using cutting edge technology," Mr Frank Koster, Managing Director and CEO, said at a press conference here.

It was also an example of global synergies a company such as ING could harness, Mr Koster said adding that once tested successfully in India, ING would take the service to other markets across its 50 countries. The service would be introduced 45 more cities in India where it had 11,000 advisors to market its products.

He said ING Vsya Life hoped to infuse more funds into the business next year.

He, however, declined to give the figure. It has so far capitalised Rs 440 crore. It had a customer base of 1.5 lakh and recorded a 318 per cent growth in its premium income in fiscal 2005.

Ms Pallavi Chopra, Manager e-Business, ING Asia Pacific, the architect of the project, said the technology was built indigenously and empowers insurance customers in the same way as Internet banking or online shopping did.

(This article was published in the Business Line print edition dated December 28, 2005)
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