In the recent past, insurance industry in India has suffered a lot due to mis-selling and insurance scams. It could have been due various factors: the ignorance of policyholders, lack of customer awareness, and miscommunication by agents in a hurry to make a quick buck of commission.
Motor insurance segment has also accounted for the larger number of mis selling records. Unfortunately, as a policyholder you will discover this only at the time of making claims when you get less payouts or when you pay hefty amount on policy renewal.
Thanks to online insurance, this is bringing a significant change in the insurance business by offering more transparency, flexibility and ease to customer by allowing them to directly deal with the brand.
Here are some of the amazing benefits of online car insurance:
- Cost Effective
Buying a car insurance online is cheaper than buying it offline. Since, you buy directly from the insurance company, the intermediary cost/agent’s commission is saved. Digital process of buying involves no paperwork which reduces the cost even further. With the rising competition and easy shopping options available online, every insurer tries his best to stand out from other players in the marketplace by means of offering product at an attractive and lower possible price to you. It has become imperative for insurers to retain customers due to strong competition.
In the past, people had to visit insurance offices or spend time on meeting the different agents/intermediaries to get the quotes while buying car insurance. Buying also involved lot of paperwork which made it inconvenient and tedious at times especially for working professionals. With the advent of technology, process of buying car insurance has become much more convenient.
There are many online insurance portals that help you access and get the quote from multiple insurers at the same time. You tend to get the best possible deal by comparing quotes from different insurance providers. It’s just not about buying a new car insurance, you can also renew your car insurance, file the claims and request for change of coverage and many more just by sitting at home.
Unlike offline process, buying car insurance online gives you transparency. Often times, intermediary/agent may or may not provide you with all necessary information about the policy. But, that is not the case with online mode as you can access all the information at a click of mouse. You will be provided with all the necessary information, exclusions and clauses of the policy that you are thinking to buy. You can also go through the reviews and comments from other consumers. So, you can always compare the policies based on this information and purchase the best suitable one as per your need. Your queries are also addressed in more elicit fashion. Basically, it helps you make an informed choice.
You no longer have to run behind someone for the information and your policy documents. With the advancement of technology, all information is easily accessible. With the help of e-insurance accounts created by insurers, you can access your policy documents and information anytime, anywhere just by using your Smartphone!
- Fast and Flexible
Buying car insurance is faster and flexible online. You can get the quotes quickly from various insurers and compare them by using online comparison tools. Easy comparison and paperless transaction makes it a faster process of buying. It also offers you flexibility to make your own choices without getting influenced by anyone. Buying, renewing and claiming everything has been made easy and faster due to excellent user-interface offered by insurance companies and websites. You have the flexibility to switch to another insurer offering attractive features at the time of renewing your car insurance online.
To put in a simpler way, online car insurance is faster, convenient and less costly when compared to offline way. Ease of buying, quick online assistance, efficient and prompt automated services are the basic plus points of online car insurance. Online platform is more customer-centric and helps you make a wise and informed decision.