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ICICI Lombard Expert Blog

Non-metros Also Opting For Online Insurance

May 15 2015

Contradictory to the general perception, insurance seekers in non-metros are also exploring the online option to purchase insurance products. As per an offline survey of 3007 participants conducted by Google India and ICICI Lombard, non-metros have shown an inclination towards purchasing and renewing general insurance policies via the online platform.

The online platform is leveraged extensively for research by insurance seekers in metros as well as non-metros. 85% respondents in metros and 82% in non-metros prefer to go online for researching health and motor insurance products.

Non-metros are at par with metros when it comes to purchasing and renewing motor and health insurance online. In non-metros, 15% of insurance seekers purchase or renew health insurance policies online. In metros, this figure drops to 8%. For motor insurance, 22% non-metro customers utilize the online medium whereas the count in metro cities rises to 25%.

"Our experience with customers shows that those buying our products online are more evolved and long-term-oriented," said Sanjay Datta, chief of underwriting and claims at ICICI Lombard General Insurance. The online platform is a hit among metros as well as non-metros because it makes purchasing and renewing insurance policies, quick and hassle-free.

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