Online has become the new buzzword in India in the past few years across all major industries. All this while insurance have also been witnessing good appetite from the consumers as online purchase of insurance policies have been on the rise. The increased transparency, ease and advantage of saving money that the online world offers, makes it the preferred channel for carrying out research and renewal of policies and paying premium amounts. In fact, it is said that around 17000 policies are purchased every month.
Pretty similar to the online travel and retail industry, the journey of insurance industry over the web started with the emergence of various research and comparison portals. One was able to compare various insurance companies and their services that helped them come to a conclusion. This not only saved a lot of time but also made the selection task easier and effortless. These portals later on were approved by the Insurance Regulatory and Development Authority (IRDA) which was a significant milestone for both insurance companies and the IRDA itself.
When a person goes about selecting an insurance policy for himself/herself, there are two most important aspects to look out for. The insurance coverage is something that often remains the same among all the leading insurance companies in India. However, the premium amount differs from each one of them. An insurance premium calculator helps a person calculate this amount required to be paid.
Websites of probably every insurance provider comes with a premium calculator. This enables a person to know as to how much amount is to be paid for a specific policy by a specific company. All that a person requires to do is enter certain specifics regarding the scheme. It is important to keep in mind as to which company provides with the lowest premium amounts along with high coverage.
Buying insurance over the web has been growing and continues to grow in the years ahead. Therefore, while going about the process of selecting your perfect insurance plan, you no longer have to visit the insurance company itself. All of it can be done while you sit on your couch along with internet access.