www.easyinsuranceindia.com is owned by our associate company (ICM Insurance Brokers Private Limited), a licensed insurance brok-ing company. For the first time in India, an insurance broker is addressing the retail market online.

This has made it cumbersome for people to do comparative shop-ping. ICM Insurance brokers was formed to fulfill the need of the market by providing an aggregator portal where in consumers can do comparative shopping for insurance using the site.

The new companies brought competition leading to various price offerings and product offering.

Insurance Industry (both Life insurance and general insurance) is growing at an average rate of 15% per year for the last decade.

This growth was mainly attributed to the deregulation of the indus-try where private companies were invited to start insurance com-panies.

The Scenario:

www.easyinsuranceindia.comAn aggregator Portal

Based on ICM's prior experience in information technology, a team of engineers architected a full-service aggregator based ecom-merce portal. Using MVC architecture with Agile Methodology.

Unlike airline industry, in the insurance industry data on various insurance products are not available in any central server for eve-ryone to access. The premium rates and policy features had to be collected from each company and stored internally. Very few companies have web service to extract this information online.

Some key features included 5 different payment options (credit card, bank transfer, cash card, debit card, etc.), SMS based acti-vation features, live chat facility, automatic alert when a new cus-tomer or existing customer logs in, login facility through social network sites, etc.

It took nearly 20 man years to complete the portal and bring it online.

ICM's Role and Action:

ICM SolutionsYour Partner in Business

C easyinsuranceindia.comCase Study

Application Development

Application Management

Application Re-engineering

System Integration

Data Analysis & Migration

Consulting Services

SEO Related Services

E-Commerce

Mobile Applications

Website : www.icmsolutions.co.in 1

This has led to startup of nearly 50 new insurance companies (25 life and 25 general). Till then only one life insurance company and 4 general insurance companies existed.