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75% of insurance sales to be online by 2020: Study

The report also states that insurance sales from online channels will grow 20 times by 2020, and overall Internet influenced sales would be Rs. 3 trillion- Rs. 4 trillion

June 25, 2014 4:37 IST | India Infoline News Service
Over 75% of insurance policies sold by 2020 will be influenced by digital channels, says a report by global management consulting firm Boston Consulting Group and Google India.
The report also states that insurance sales from online channels will grow 20 times by 2020, and overall Internet influenced sales would be Rs. 3 trillion- Rs. 4 trillion.

At present, online purchases represent a small part of insurance buying in India today. However, the overall influence of the Internet on insurance product purchase is already six times and growing rapidly, the report added.

The online population forms a brand new market that cuts across borders, it added.

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