The advent of digitisation has changed our lives considerably in the recent past. Whether it is booking railways tickets to movie tickets or even buying insurance, we pretty often resort to the digital space. Needless to say it saves a lot of time and is often cost-effective.
Buying insurance online is no exception. These days’ many Indians choose to buy insurance online and it does have its benefits. The first thing is, it makes the process much easier. Today, buying an insurance policy is just a click away, which you can do from the comfort of your home. Some of the major benefits of buying insurance online include the following:
Buying benefits: The distribution efficiency also leads to cost efficiency. Since the customer buys directly from the insurer, the distributor's margin (or commissions) is saved. Also, the entire process is carried in the virtual world and is paperless, reducing the costs further. These savings are usually shared with the customer in the form of lower premiums.
Compare prices online: While buying insurance online, one can choose to compare the prices from insurers, thus making things much easier for them.
Getting quotes from different providers on one platform is possible with these online insurance portals. It helps in saving time from the gruelling task of researching providers individually.
Simple documentation: The advantage of online insurance comes with hassle free documentation and minimum paperwork. This means no more running around with the photocopy of ID or address proof or other documentation required for your insurance purchase. As it is managed electronically, the premium of policies is submitted immediately.
Convenience of purchase: You can buy insurance policies round the clock anywhere at any time comfortably.Insurers have an online chat system that helps you pick the most effective insurance plans personalized as per the customer’s need. Another benefit of purchasing online is that you have ample of time to scrutinize every detail and choose the right policy.
Moreover, since the personal details are filled by customers, there is less chance of misinterpretation of facts.
Online services: For the non-tech savvy people, making an online transaction is a huge task. The insurance websites have online chat facility for the customers to seek clarification regarding any doubt. Also, you can talk to their customer relationship executives telephonically regarding any query, which can be resolved over phone. The customer can also request for a face-to-face meeting, as people in India believe in the personal touch which they want it to be tried and tested before purchasing any product or services.