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Case Study

Bancassurance Platform

We made it possible through

4+

Team Members

06

Months of development &Implementation

10xincrement

in the clients onboarded to the application

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Angular
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Java Hibernate
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Oracle

Technologies We used

Overview

Jansuraksha is a portal that facilitates the bank employees to keep close track of the requests which come under the government insurance schemes. It consists of three primary parts that are further subdivided into further modules:

PMJJBY - Pradhan Mantri Jeevan Jyoti Bima Yojana is an insurance scheme that provides life insurance protection against death for any cause. The enrollment journey for this scheme is implemented on Jan Suraksha Portal. 

PMSBY -Pradhan Mantri Suraksha Bima Yojana is an accidental insurance scheme that provides coverage for accidental death and disability for people who pass away or become disabled due to an accident. The enrollment journey for this scheme is implemented on Jan Suraksha Portal. 

APY - Atal Pension Yojana is a pension scheme for citizens of India focused on unorganized sector workers. The enrollment journey for this scheme is implemented on Jan Suraksha Portal. 

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About the client

The Largest Small Finance Bank focused on solutions, completely based on our customer’s needs. The Bank looks forward to serving with innovative products and services to offer a best-in-class banking experience while ensuring the safety and security of its stakeholders at all times.

Understanding the Challenges

01

It was a lengthy process and very challenging to manually onboard users for the Jansuraksha scheme.

02

When adding important information manually, there was a very high probability of manual errors.

03

To enroll in multiple schemes, users had to go through different flows, which was excessively time-consuming to onboard a single customer to multiple schemes.

04

Customers were required to visit the branches to enroll in any schemes and finish the entire process.

How SynoFS solved it

  • For Jansuraksha, we created a digital onboarding system to enroll new customers into the following schemes:

  • APY (Atal Pension Yojana)

  • PMSBY (Pradhan Mantri Suraksh Bima Yojana)

  • PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana)
     

  • Core Banking Solution was integrated into the Jansuraksha Application to collect relative data to reduce manual error. 

  • RM one Form was developed so that customers can enroll in various schemes simultaneously and in a much more time-efficient manner.

  • For the purpose of enrolling participants in the JanSuraksha schemes, a digital process has been developed in which customers can enroll themselves by clicking on a link sent via SMS after their schemes get initiated.

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  • Before the implementation of the Jansuraksha Application (Manual process), banks used to register approximately 5000-6000 consumers in these schemes each year.

  • After the Jansuraksha Application (Digital solution) was implemented, there were about 60,000 more customers enrolled for these schemes.

  • Our Client has also won multiple awards for several years for the highest number of enrollments in the APY scheme made possible by our software.

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With SynoFS, Digitize your Banking Processes

Provided the best digital solutions to more than 10+ clients including banks and other financial institutions

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