In the general insurance category, car insurance policies are preferred online. It has been observed online buying of non-life insurance plans in India is increasing across customers. As compared to health, the adoption was more for vehicle insurance.
According to reliable sources, people in the age group of 25-35 years are very active in purchasing non-life insurance plans online. Today, internet will hugely influence majority of buyers. Nowadays, customers are switching to online sources. The behavior was similar across age groups of 46-55 years and they too preferred to buy or renew motor insurance policies online. In fact, it was also observed that the willingness to buy online general insurance products was increasing too.
Those who buy car insurance online were more evolved as well as long-term oriented. Customers looking for motor and health insurance plans, respondents mentioned ‘brand’ as the key factor.
Majority of customers are influenced with the insurance company’s reputation and then word of mouth publicity. Convenience and ease of buying are the main reasons for buying online insurance policies India.
Behavior of customers for product study and purchase across mobile and desktop was similar as around 80 percent of users are accessing online sources for insurance related search through laptop or desktop.
Online purchase gives customers a wide range of options and they can easily compare different insurance products online in terms of rates, features etc. Selection of the best motor insurance plan becomes with online portals as compared to offline sources.
Online access also gives you an option to access various insurance companies’ products at one time. It saves your physical effort to go to the insurer’s office and saves time too. Or you don’t have to wait till the insurance company’s representative come to your home and explain you everything.