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

India Infoline News Service | Mumbai |

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

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.
 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.