A recent report given by Google India and ICICI Lombard General Insurance has revealed that in the non-life insurance segment, motor products are preferred online. The report adds online purchase of non-life insurance products in India is growing across buyers. The adoption was higher for motor insurance (24 per cent are buying these policies online) than health (12 per cent).
These findings are based on an offline survey of 3,007 active internet users aged 25-55, across 18 cities in India. The findings show internet users in the 25-35 age bracket are the most active in buying non-life insurance products online.
Vikas Agnihotri, sector director, Google India, said “Our studies indicate the internet will influence Rs 3-4 lakh crore of insurance sales in India by 2020. The findings clearly outline consumers are shifting to the internet at a more rapid pace than perceived earlier.”
