A study by ICICI Lombard and Google India has revealed that online purchase of non-life insurance products has been growing in India.

Buying was higher for motor insurance with 24 per cent users buying policies online, compared to 12 per cent buying health insurance online.

The study was commissioned to understand patterns of online purchase of non-life insurance products.

Over 3,000 active internet users, spread across 18 cities in the 25–55 age group, participated in this survey.

The findings revealed that users in the 25–35 age group were most active in the online purchase. Ease of purchase and convenience were the primary drivers.

Consumer behaviour for research and purchase across desktop and mobile was similar with 80 per cent users accessing the Net for insurance-related search or purchase through desktop/laptop and 85 per cent through mobile/tablet, indicating a clear tendency to shift between devices.

In addition, ‘brand” was found to be the most influential factor.

Sanjay Datta, Chief (Underwriting and Claims), ICICI Lombard, said that the online medium played a critical role in the purchase of non-life insurance products.

The data revealed that 25 per cent more policy holders opted to buy family floater policy online as compared to offline customers, and 35 per cent more customers who bought health insurance online, renewed their policy as compared to offline renewals.

Vikas Agnihotri, Industry Director, Google India, said that online insurance sales could touch ₹3,00,000 – 4,00,000 crore in India by 2020.

However, the study showed that in online purchase, the personal contact with an agent and post sales service could be an issue. Customers preferred an agent particularly for claim settlements and policy receipts.

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