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IMDR’s Journal of Management Development and Research 2022-23

seamless way, Insurtechs are already changing the norms. There is no denying that Insurtech models
are the primary forces behind the growth of the insurance industry, despite the fact that they vary in
terms of customer contact, economic viability, and scalability. The online distribution channels operate
on multiple touchpoints to maximise their reach because distribution is the most important component
of insurance. These touchpoints include B2B, B2C, B2B2C, and even embedded insurance.

Online insurance in India: Challenges Although appealing and lucrative, the online sales channel has
its own difficulties. It can be difficult to influence a customer's online purchasing choice. That is
undoubtedly the cause of the negative online user experience with Indian life insurance, according to
many industry polls. Years of attempts by India's insurance regulator IRDA to make sure insurance
companies make their insurance products simple for customers to understand don't seem to have
produced the expected outcomes in the area of life insurance. Most internet insurers failed to have an
influence due to problems with information openness, lack of uniformity, and critical term
arrangement. Today's online insurance is only an internally focused transactional process. It's about
collecting data on prospects, establishing the backend to manage that & scaling up with the expectation
of higher business gains.

Conclusion
Internet insurance has therefore gained traction but still has a way to go in India, where a proactive
government will ease your way through the process. You must be aware of the advantages of internet
insurance, often known as e-insurance, as this could make getting and administering your insurance
plans easier for you.

References: -
https://www.irda.gov.in ,
www.lifehealthpro.com,
https://www.advisorkhoj.com/articles/Life-Insurance/Online-Insurance:-The-journey-so-far-inIndia.
https://www.acko.com/digital-insurance-trends-and-benefits/#digital-trends-in-insuranceindustry
http://www.nextbigwhat.com/,www.businesstoday.com, www.insightonbusiness.com.

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