There has been a strong emergence of technical development in India in the recent years along with the use of internet as a powerful tool in our day-to-day life. With an increase in internet penetration in India the new generation of working professionals have become increasingly comfortable with transacting online. The insurance industry is very much a part of this e-commerce growth story with a slew of insurance products being sold online. Apart from life insurance whose online term plans are gaining popularity, mediclaim policies are also getting a strong foothold in the online insurance market. With a move over agent oriented sales, all insurers are offering host of their mediclaim policies to be sold online. Thus customers are foregoing their agent’s services to buy online plans. But is it wise to buy mediclaim policy directly online without involving the agent? The online and offline sales story Health Insurance Plans are generally sold by agents who represent an insurance company. The agent meets with the clients, understands their financial requirement, explains the features of the mediclaim policy and offers the most suited plan to the customer. In the event of hospitalization, the agent facilitates the settlement process. As such the agent remains the sole point of contact between the customer and the insurer and he gets a percentage of the premium generated by him as a commission. This is a traditional offline sale. On the contrary, when buying online, the prospective client views the products offered online, selects the most suited plans and makes payment directly to the insurer via the use of credit or debit cards.
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