The buzz is so strong you cannot miss it. Whether it’s products or services, Indians are getting comfortable with the idea of buying the virtual way. The effect is rubbing off on the insurance space, with consumers increasingly buying health and motor covers online. A joint survey by Google India and ICICI Lombard General Insurance shows that about 24% customers are buying motor insurance online and 12% have purchased health insurance online.
For motor insurance, the trend was consistent across age groups with even people aged 46-55 years preferring to go online because of convenience. In case of health insurance, first-time buyers were more willing to buy and renew health insurance online. Mobile is the most preferred device to access information on the internet.
However, customers prefer an agent when it comes to claim settlements and policy receipts.