When BimaDeals was launched in mid 2007, the online sourcing market for Insurance was very nascent. Internet spends were restricted to campaigns on prominent portals and search engines . This was probably the only online model being leveraged by the Insurance Providers. And in those days, the market for online comparison was almost completely unheard of.

There were a few players who had just launched online comparison and shopping- riding on their broking background.But nothing that would assist Insurance Providers in their current model of sales through telecalling & FOS.

BimaDeals was launched to help customers get comparison from leading Insurance Providers. Our model was to provide Insurance companies, with interested insurance seekers who matched the profile that the company was looking for.The "leads" would go through sufficient online & offline filtering at our end before the same was passed on to the company for further processing.

With this simple model BimaDeals has been able to capture an increasing mind-share amongst Insurance seekers and has scaled up the leads volume significantly- both in Life and Health Insurance.

Sometime in June08, BimaDeals piloted another concept- that of providing comparison over voice channel The pilot has got some really encouraging results and we are now confident of making this the next big channel for Health Insurance.

In summary, the Indian consumer is now more sophisticated and comfortable with online channel(s) and she is demanding comparison before picking the right insurance product. Hence the Insurance sector is bound to see increased focus towards online channels (even if its for initial scouting of interested customers). As the online space heats up, do watch out for how BimaDeals is contributing to the success of its partners.