With the insurance sector being liberalised, dotcoms are moving at Net speed to garner a share of the business. smartinsurance shop.com has been set up by SKI Insurance Marketing (SKI), a partnership venture between Shriram Group of companies, ALFA Systems (an associate of Integrated Enterprises) and Kaashyap Radiant Ltd.
SKI Insurance targets to raise Rs 100 crore of insurance premium by March 2002. It plans to add value-added services such as claims settlement advisory services to bolster its income. Initially, health and motor insurance would be offered. The insurance marketing outfit has tied up with National Insurance Company to market the latter products and alliances with other insurance players are on the anvil, said Mr V Rajagopalan, chief executive officer, SKI.
SKI would also use the offline infrastructure of the Shriram group to market insurance products. Mr R Thyagarajan, chairman of the Shriram group, declined to comment on holding pattern of SKI. He said the revenue sharing agreement is yet to be finalised. The Insurance Regulatory and Development Authority is yet to frame its guidelines for agents but SKI can collect insurance premium without taking any commission, added Mr Thyagarajan.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.