An insurance exchange for providing a neutral, unbiased and automated lead generating platform for interaction, relating to insurance products and services, between a set of users and a set of providers. The system integrates the processes involved in an insurance lifecycle including quote management, endorsement and claims assistance using a single unique code. The unique code captures minute details of the insurance product's lifecycle which can be tracked and retrieved for processing requisitions at any stage of the insurance lifecycle by the system. Moreover, the system gives a user the flexibility to use/enroll to the system at any time within the life of purchased Insurance product. Thus, the insurance exchange is a one-stop shop for a user for any insurance stream including life, non-life, takaful or micro to compare benefits and prices, choose and avail any insurance product or service and also to redress his grievances.