Edelweiss Tokio Life is one of the latest entrants in the life insurance space, especially in the online one. It has shown initial promise, especially in terms of its web portal, which is easily, one of the best online portals for transacting in life insurance. Some points that need special mention are the promise of a 24-hour settlement of claims. Their website mentions that if they are unable to settle all genuine claims within 24 hours, they will pay interest on the same. This is one of the first time time that we’ve seen an insurance company willing to walk its talk.
The product portfolio has all the products that you’d expect a new-age life insurance company to have. The online products offered include a term plan, critical illness plan, ULIP and endowment plans. Their other products include an education plan, annuity-based retirement plans as well as pension plans. It seems that they have one plan for each need that a customer may have. Mostly, life insurance companies suggest products based on the amount of premium that a person can pay. Edelweiss Tokio Life adopts a need-based approach to selling life insurance. For instance, a ‘know your needs’ tab on the portal helps you in identifying your present and future needs, based on which the calculator suggests the Sum Assured and type of plans that you should opt for. It has been brave enough to move away from the traditional methods of selling life insurance.
The services seem to be benchmarked not just against the life insurance sector, but also with e-tailers. Leading e-tailers like Amazon and Flipkart are pioneers in making buying through the internet a very convenient and hassle-free experience. Buying life insurance through www.edelweisstokio.in is the life insurance equivalent of purchase through an e-tailer website like Amazon. The online buying process is very convenient, self-explanatory, and easy-to-track. At any given point of time, the customer is always aware at which stage of the buying process he is in.
This is commendable considering the short span of time for which this company has been in existence.
The entire look, feel, and content of the portal gives you the impression that it is a new-age life insurance company. There are tutorials, need calculators, widgets, login interfaces spread across in such a manner that you can go to your desired section without much assistance. For instance, the Ed widget, at the bottom right hand corner, has the options of chat, request a callback, branch locator, customer complaints, and FAQ’s at one place, making it very easy for the customer to navigate his way.
We are sure that in the coming days, Edelweiss Tokio Life will live up to it’s promise of being a customer centric life insurer with quality products at a reasonable cost.