As per a research, today the world has more phone or mobile connections than humans and these connections will keep increasing. Prudently said, billion internet and mobile users will be responsible to elevate the online medium to save cost and efforts. The smartphone industry has brought in the revolution in the lifestyle and buying nature of the consumers. Undoubtedly, technology does play a similar role to back up the internet and smartphone industry. 
We have been observing the surprising growth in the online medium users in India. Online insurance category doesn’t stand an exception either. The product innovation, ease in the buying process, reach and transparency are being persuading buyers to buy the plan of their choice online. More often than not, there was a view that the online medium has a lower cost as there may not be a distributor involved in between the insurance company and the policy buyer, that view has proved myopic, as the benefits are far higher. The benefits come in the form of self-disclosure, better risk assessment and process automation too. 
Online medium has proven to be successful for Term Insurance penetration. Online launch and competitive pricing have made the product popular in online policy buyers. These prices offered by the insurers are likely to go down furthermore with new product launches and cut-throat competition with newly emerging companies. Here, the first phase of innovation was in making products available and reducing prices. However, the next phase of innovation has begun in earnest. However, Insurance policies sold online are setting up a new record every year. 
As the Internet and mobile phone penetration are increasing, heavy investments are being made to ramp up the technology to make the most of it. Insurance companies are also coming up with mobile applications. This not only offers savings but also fixing up the problem of underinsurance in India. Easy reach, affordability, convenience are creating win-win situation for customers. Prudently, product innovation and customization play a significant role to boost up the online platform. Car, health, critical illnesses are the categories performing awesomely and reigning the online platform.