The EIBU is an insurance online quotation system that sells insurance product on a single platform. The EIBU provides the insurance companies with an online insurance market where insurance products from variety of insurance companies are sold electronically by using an online payment system. This platform not just provides insurance companies with a convenient channel to sell and promote their products, but it also gives the insuring public a convenient and simplified avenue to buy, renew and claim an insurance policy.
The platform will also give insurance brokers and agents the opportunity to buy insurance products online and still maintain their commission by simply having registered in the system by the underwriter.
The platform will be an online real time insurance retail application that will be hosted on the internet and give users’ access via the internet. The application will have all the security functionality to ensure underwriters and clients detail and transactions are given the privacy they require at all times and highly secured.
The platform will be built to cover only 3rd party insurance policies for a start. It will also be a knowledge base insurance application for all insurance consumers willing to buy an insurance policy.
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