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Online Insurance Services

I. Definition
Online Insurance Service is a financial service jointly offered by ICBC and insurance company for ICBC personal customers who have registered Internet Banking to buy insurance online, as well as additional premium, conversion, partial surrender/redemption, enquiry on policy details and renewal.

II. Introduction
Three types of online insurance services:
1. B2C - Links to insurance companies' websites are embedded into ICBC "Insurance" for customers to browse and pay online in B2C;

2. General - Insurance companies that have not set up websites may use ICBC website for customers to browse and pay online;

3. Bank-Insurance Link - ICBC and insurance companies develop Bank-Insurance Link system, add "Online insurance" into the system for customers to buy insurance and look up insurance policy via ICBC Internet Banking.

III. Target Client
B2C is for insurance companies that have set up websites to sell their insurance products. General and Bank-Insurance Link are for insurance companies that have not set up websites.

IV. Advantages
Online insurance is a new way to sell insurance products and serve customers. The advantages include fast and convenient access, massive information load, release from geographical and time limits and low marketing cost. ICBC Internet Banking is a cutting-edge system serving a large customer base. Providing insurance services online can facilitate easy access for many different customers in different regions, which also caters to today’s online service trend.

Institutional Banking