Proposal & Purchase Flow

Proposal & Purchase Flow

Every insurance purchase on Wealthy goes through a proposal — a tracked journey from the first quote to the final policy document. This flow is common across health, term, and savings insurance with category-specific steps.

Proposal Stages

┌─────────┐     ┌──────────────────┐     ┌────────────────┐     ┌──────────────────┐
│ Created  │────▶│ Quotes Generated │────▶│ Quote Selected │────▶│ Payment Initiated│
└─────────┘     └──────────────────┘     └────────────────┘     └──────────────────┘
                                                                         │
                                              ┌──────────────────┐       │
                                              │ Policy Generated │◀──────┘
                                              └──────────────────┘

Additional stages for specific cases:

• Pending KYC — If the insurer requires KYC verification before proceeding
• Inspection Submitted/Completed — If medical inspection is required (some health/term plans)

Common Flow (All Insurance Types)

1. Quote Comparison & Selection

The customer browses plans, compares quotes, and selects a plan. At this point a proposal is created (or updated if returning to an earlier proposal).

• For bulk comparison: All active insurer quotes are fetched in parallel
• For plan selection: A detailed quote with riders is fetched for the chosen plan
• Selecting a new plan resets any previously entered customer details

2. Customer Details

After selecting a quote, the customer fills in personal information:

• Personal details — Name, date of birth, contact information
• Address — Current and correspondence address
• Nominee details — Who receives the benefit
• Occupation & income — Employment and financial details
• Identity documents — PAN, Aadhaar, or other ID proof

3. Medical / Health Questions

Most insurance plans require answers to health-related questions:

• Health insurance — Questions about pre-existing conditions, hospitalization history, lifestyle habits
• Term insurance — Medical history, family health history, tobacco/alcohol usage
• Savings insurance — Typically lighter medical questionnaire

The questionnaire is insurer-specific — each insurer has their own set of questions tailored to their underwriting requirements.

4. Proposal Finalization

Once all details and medical questions are submitted, the proposal is finalized. This step:

• Validates all required information is complete
• Submits data to the insurer for preliminary underwriting
• Prepares the proposal for payment

5. Payment

Payment processing varies by insurer:

Direct Payment (Health):

• Payment order is created on Wealthy’s payment system
• Customer pays via available payment methods
• Payment confirmation is sent to the insurer
• Policy is issued upon successful payment

Redirect Flow (Term & Savings):

• A pre-filled application form is generated with all customer details
• Customer is redirected to the insurer’s portal
• Application review, medical checks (if any), and payment happen on the insurer’s portal
• Insurer sends confirmation back to Wealthy upon completion

6. Policy Issuance

After successful payment:

• Insurer processes the application
• Policy documents are generated
• Customer receives policy documents (downloadable from the platform)
• Proposal stage updates to “Policy Generated”
• Notifications sent via email/WhatsApp/SMS

Health Insurance — Specific Steps

The health insurance flow includes some unique steps:

1. Get Quotes → Compare plans from all health insurers
2. Select Plan → Get detailed quote with riders
3. Create Proposal → Initiate the proposal
4. Customer Details → Personal, address, nominee information
5. Medical Questionnaire → Insurer-specific health questions
6. Finalize → Submit to insurer
7. Payment → Direct payment on Wealthy
8. Policy Document → Download policy
9. NSTP Document Upload → Some insurers require post-payment document submission (Non-Standard Terms Policy)

OTP Authentication: Some health insurers require OTP verification at key steps (quote selection, customer details, finalization) for added security.

Term Life Insurance — Specific Steps

Term insurance has additional steps:

1. Get Quotes → Compare plans
2. Select Plan → Choose plan with payout option and payment mode
3. Create Proposal → Initiate proposal
4. Customer Details → Comprehensive personal and financial details
5. Medical Questionnaire → Detailed health history
6. Benefit Illustration → Generate and review the benefit illustration document
7. Finalize → Submit proposal
8. Redirect to Insurer → Customer is redirected to insurer’s portal
9. Complete on Insurer Portal → Final review, additional checks, and payment
10. Document Upload → If the insurer requires additional documents
11. Policy Issued → Confirmation received from insurer

Pending Requirements: After submission, insurers may request additional information or documents. The platform tracks these requirements and notifies the customer/partner.

Savings Insurance — Specific Steps

Savings plans follow a similar pattern to term:

1. Get Quotes → Compare savings plans
2. Select Plan → Choose plan variant
3. Create Proposal → Initiate proposal
4. Customer Details → Personal and financial information
5. Benefit Illustration → Review guaranteed benefits and maturity value
6. Finalize → Submit proposal
7. Redirect to Insurer → Complete on insurer’s portal
8. Policy Issued → Confirmation and documents

Key Rules

• No changes after payment initiation — Once payment is initiated, quote details and customer information cannot be modified
• Quote reselection resets details — If a customer selects a different plan after entering details, previously entered customer information is cleared
• Proposal events — Every stage change triggers notifications to downstream systems (order management, ops tools, customer notifications)
• Specialist assignment — Each partner-initiated proposal is assigned an insurance specialist who assists through the process

Notifications

Throughout the proposal journey, customers and partners receive updates via:

• Email — Proposal status updates, policy documents
• WhatsApp — Key milestone notifications
• SMS — Payment confirmations, policy issuance alerts

These are triggered automatically at each stage transition.