The online marketplace is no longer just for buying clothes, ordering food and making payments. A large number of Indians are also shopping for insurance policies.
Though the number of insurance policies sold online is still small, online insurance marketplaces and insurers are seeing a lot of interest not just from large towns but also from smaller towns for online policies.
Insurance penetration was at an estimated 3.49 per cent in India in 2016-17, which is much below the global average, and the online space is creating not just awareness but is also helping customers who do not have to depend on agents.