Digital services offer convenience, choice and comparison.

The financial services

industry, including insurance, is also making efforts to tap this space. Life
insurance, traditionally sold by agents, is available for online purchase, often at
lower prices. According to a report by Boston Consulting Group (BCG), total
digital market size for online insurance in financial year 2015 was Rs.1,000 crore.
Life insurance (new business premium) was worth Rs.350-400 crore; motor
insurance (gross written premium) Rs.300-350 crore; and health and travel
insurance (gross written premium) of Rs.150-200 crore.
The overall online market for insurance sector stands at around 1% for both life
and non-life segments. In life insurance, term plans are the most bought product
online, while in non-life, it is motor, health and travel insurance. The market has
grown six to seven times in the past six to seven years, according to estimates by
BCG.
Many services, and sale processes are now technology-based. For instance, paying
premiums, making a claim, and tablet-based sales processes in which the agent
keys in relevant information in the tablet and the system recommends suitable
plans. The digital platform has standardized the sales pitch and product features
are communicated to the customers in a manner that is easy to understand, said
Sandeep Batra, executive director, ICICI Prudential Life Insurance Co. Ltd. This
also leads to more and better information for the customer.
Digital orientation can be classified into enriching customer experience and
regaining direct control of the customer relationship. This will change the

dynamics of the sector, said Pradeep Pandey, chief marketing officer, Future
Generali India Life Insurance Co. Ltd.
Digital format holds many advantages for the customer as well. Heres how you
can make use of whats on offer.
Cost advantage
A digital avenue helps insurers save on various operational costs. This can be
passed on to customers in the form of cheaper policies online.
Usually, brokerage for term plans is around 30% of premium while for unit-linked
insurance plans (Ulips), it is 5-10%. The premium difference between offline and
online is 35-40%. Even in auto insurance, the difference is 15-20%, said Mahavir
Chopra, headhealth, accident and life insurance, Coverfox.com, a policy
comparison site.
For example, a working woman in her 30s wanting to buy a term plan for a sum
assured of Rs.50 lakh for 10 years and premium paying term also of that long
would get a policy online for a premium of about Rs.3,500, while the same plan
would cost around Rs.5,600 if bought offline. There is, however, a certain income
limit defined to buy a term plan online. It differs across companies, said Chopra.
The other advantage of the format is speedy sales service and increased efficiency.
Customers are able to get timely and accurate updates on modifications in their
policies. This, too, has increased cost efficiency. Technology enables
standardization and improves quality of responses and services, said R.M.
Vishakha, managing director and chief executive officer, IndiaFirst Life Insurance
Co. Ltd.

Safety net
Another significant advantage is elimination of chances of fraud and mis-selling,
especially by an agent or distributor. For instance, if a customer bought a policy
through an agent, and premium is paid in cash, the agent may not deposit the
money. Or, an agent may force the customer to churn policies or buy a new one
just so she can earn the hefty first-year premiums. But when someone buys a plan
online, the premium goes directly to the insurer. Also, you are usually clear about
what you want to buy based on price and features. You also fill the proposal form
yourself giving accurate information, which reduces the chances of fraud and
claims being rejected due to incorrect information. Agent involvement gets
reduced to a large extent; so premium thefts, sliding and other agent initiated
schemes get reduced too. But there is a need for data sharing and linking with
various government and private agencies so that information submitted gets
verified instantly. Even frauds and discrepancies can be caught spot-on, said
Bharat Jeswani, chartered accountant, Bharat Jeswani & Co.
With any online or digital transaction, safety is a concern. In this regard, insurance
companies say that safety is maintained since no vulnerable financial data stays
with them. All online applications are tested for vulnerabilities and customer
payment information is routed through payment aggregators, hence, no credit and
debit card data is stored with insurers, said Snehil Gambhir, chief operating
officer, Aviva Life Insurance Company India Ltd.
But while dealing with policies online, many documents are shared with multiple
parties. Therefore, it is prudent to share documents with insurers that have strong
data protection controls such as being ISO:27001 and ISO:22301 certified. Check

the company description section online or ask the representatives before

concluding a sale.
Convenience tops
While digital formats bring in cost efficiency and safety, a feature that probably
trump the other two is convenience.
A step in this direction is formation of insurance repositories, which preserve data
of insurance policies in electronic format. This is similar to having stocks or
mutual funds in a demat format. At present, there are five insurance repositories,
and insurance companies have to tie up with all of them.
There are various benefits of holding electronic policiesno physical damage or
loss, know-your-customer process is simplified and it is possible to manage
multiple policies via a single platform, said Batra.
At present, however, only life insurance policies can be stored with insurance
repositories. The process to get health, motor and travel policies on to the platform
is underway.
Ask your insurer if your policy is already with a repository. If it isnt, make a
request. Keep the account number with you and access whenever you need to see a
policy. Even if the policy is not with a repository, it will be available online with
the insurer.
Post-sales service
A major complaint against insurers is that once a policy is sold, the customer is
forgotten. Social media has changed that to an extent. Most insurers have Facebook

and Twitter accounts, which are a platform to receive complaints and to promote
new products or features.
As a practice, we ensure that customer queries received on business days are
responded to within 30 minutes across Facebook, Twitter or other online
platforms, said Sanjeev S., head, marketing and e-channel, ICICI Lombard
General Insurance Co. Ltd. We get an average of 100 queries on social media in a
month and we look into all the queries, he added. For instance, Mint followed a
case on Twitter in which a customer had complained about claim settlement. Claim
was for Rs.1.09 lakh. It was settled in 11 days from the date the first complaint was
made on the microblogging site, and the company replied to the customers tweet
with the settlement details.
If you, too, have a query or grievance, use a social media platform for speedy
response. Go to the particular insurers account, and put forth your comments. Try
to give as many details as possible.
Such interactions have the potential to make the grievance redressal system easier.
Many insurers have developed their own apps. For example, ICICI Lombard
General Insurance Co. Ltd has IL Insure, through which customers can buy and
renew products in motor, health and travel categories. Bajaj Allianz Life Insurance
Co. Ltd. has developed an app called Life Assist and it helps users view policy
details, claim status, net asset value updates, and fund value. One can also get an
income tax certificate for any year since the policy inception using this app if you
need it to claim tax benefit.
Faster processing

Health insurance claims is another segment that is seeing the benefits of digital
innovations. For example, Remedinet Technologies Pvt. Ltd provides a system
through which health insurance claims are processed on cloud-based platforms;
data is exchanged and processed between the hospital and the insurance company.
The errors and delays are reduced and the process is more transparent as you can
see the data on the platform with timestamps and history. With such technology in
place, cashless claims get passed in 3-4 hours while reimbursement claims take up
to 4-6 weeks, said Kapil Mehta, executive director, SecureNow Insurance Broker
Pvt. Ltd.
Without a cloud based platform, cashless claims are generally sent through e-mails,
and can take 6-8 hours, or more, to get passed, depending on the insurers response
time.
Adapting to the digital format holds value for the insurer and the customer. The
entire experience, from buying to making a claim, can be made smoother.
With around 250 million internet users, 100 million facebook users and almost a
billion mobile phone users, it is very clear that digitization is growing rapidly in
India. Digitization has changed the way we function and it has also created an
altogether new marketplace for selling and buying of products. It provides easy
access to various forms of information and helps people in decision making.
One sector which has slowly realized the importance of digitization is the
insurance sector. The online insurance market in India is growing rapidly and
credit goes to effective technology and easy access. It has changed the entire
customer demography. The main reason behind the fast growth of the insurance
industry is the online presence of various companies, offering their products on the

platform and also because of the growth of insurance aggregator websites that have
made it easier for the customers to choose from various available options.
Role of Insurance Regulatory and Development Authority

As the growth in the industry has been quite remarkable, the IRDA, which frames
guidelines for the insurance sector has had a major role to play in the growth.
IRDA had come out with some strict guidelines in 2011 which made it difficult for
online insurance web aggregators to show comparisons, ratings, rankings etc. But
now the online aggregators, which are registered under IRDA regulations, have the
authority to allow comparison services, display of rankings and many other similar
services which has resulted in attracting customers towards them.
Growth of Digital Technology Boosts Insurance Market Status
In spite of challenges which exist in the market, the online insurance market is
growing by the day. Many projects are under way that will bring enhanced
connectivity to rural areas of the country. Numerous government initiatives are
also helping the sector in increasing the penetration rate. Insurance companies are
trying to capitalize the connectivity within the country. Numerous leading
government and private insurance companies have introduced their mobile apps
that allow the customer to get the desired information easily and on time. These
apps provide detailed information and allow consumers to buy or renew the
existing plans simply. All these activities are providing a positive environment for
the growth of online insurance market in the India.

The use of digital technology in providing assistance for the growth of the

insurance industry is fast changing the way insurance was practiced in the country.
Sales agents and online insurance web aggregators are helping customers in buying
the desired insurance plans online. Many users do online research and comparison
through web aggregators before buying insurance plans.

Now, the insurance companies have also realized that having an online presence
can help them in increasing their sales numbers and their business as well. New
companies, with the help of this route are growing rapidly as compared to the
traditional route.

As per the recent guidelines, the IRDA has issued guidelines regarding issuing of
policies in a digital format. At present, there are five registered repositories.
The biggest benefit of having plans and policies in digital format is that a customer
does not have to carry hard copies of policy documents so there is less chance of
losing documents or the documents getting destroyed in case of an accident.
When it comes to technology infrastructure, a recent survey confirmed that the
traditional insurers are in difficult situations. To maintain their position and
reputation in the segment, it has become extremely essential for them to start
providing digital services to their customers as currently; customers are finding the
digital insurance platform more useful and relevant for their desired insurance
needs and requirements.
Insurance

An arrangement by which a company or the state undertakes to provide a guarantee

of compensation for specified loss, damage, illness, or death in return for payment
of a specified premium. an arrangement by which a company or the state
undertakes to provide a guarantee of compensation for specified loss, damage,
illness, or death in return for payment of a specified premium a thing providing
protection against a possible eventuality
Digital Insurance
As noted in our EY Global Insurance Digital Survey, the insurance industry is
lagging behind other providers in developing innovative and customer-friendly
digital experiences. Insurers trail the entire digital spectrum: customer engagement,
use of analytics, and adoption of mobile and social media. While they have high
ambitions of digital leadership, many are far from bullish about their digital
maturity. Life insurers are less advanced because of organizational silos, multiple
distribution
channels and legacy technology that impacts the speed at which new strategies are
adopted.
Yet, customers expect the same intuitive and streamlined experience from their
insurance carriers as they do from their favorite app, search engine or online
retailer. Life insurers must adjust their business models and strategies to remain
competitive and take advantage of potential wallet share. Failing to adapt to the
fast pace of digital change presents many risks, including losing ground to more
agile players.
This paper explores what is happening in the digital landscape, the influence of
demographics and information overload, and the case for change within the context
of the value chain. Given the prevalence of digital adoption in other industries,

insurance companies cannot risk sitting on the sidelines. They can start by asking
these key questions:

What should life insurers consider as they develop a bold vision for their
digital strategy?

How do they meet the diverse needs of end-to-end customers, financial

advisors and wholesalers?

How can they deepen customer relationships by learning from the

experiences of retailers and technology providers?

1. Is going paperless the same as going digital?

A common area of focus is digitizing forms and information, and taking paper out
of processes, in areas such as claims, in parts of distribution and in customer
support and service. For example, implementing a digital claims process, allowing
customers to receive bills and policy documents electronically, allowing
documents to be signed electronically, and allowing agents, brokers and other
channel partners to download forms and other types of documents electronically.
There was little distinction between how the information is accessed, how
interactive the process could be, or how to leverage the information gleaned from
digitizing these processes. The discussion ranged from emailing documents to
dedicated portals for each specific user with varying level of interactive features.
So, is going paperless the same as going digital? It is a start, but if you are just
taking paper out of the process think bigger. Going digital is so much more,
and even in this area, the possibilities to capitalize on digital content have much
larger possibilities to support top line growth and to take costs out of operations.

2. Is updating and adding digital touch points or channels such as mobile and
social or even a direct channel, are they the same as going digital?
It really depends; this is the place where most companies tend to focus when they
consider implementing a digital strategy. This digital strategy tends to take one of
two shapes: either of improving their website capabilities, mainly by adding digital
dimensions to their existing functions, and mainly in marketing (e.g. blogs to
support the customer experience, or online communities via Twitter, Facebook and
Linkedin); or alternatively of implementing a multichannel/multi-touch point
strategy. Multichannel strategies also vary in terms of how far insurers are willing
to go to transform. Addressing things like channel conflict, making Mobile work
and moving into social business, all factor into what going digital looks like in
each company. Supporting the traditional product, sales, marketing and customer
service with digital content, insight, new types of customer engagement and
tapping into new types of information, is where most of the digital investments in
insurance will occur this year. This is an exciting space, and when done right,
insurers should see good returns on their investments. They will also be more in
line with what other industries are providing around customer experience,
customer interaction and gains in customer loyalty. Resolving the channel conflict
issue is also vital in this focus area, since going digital also means going direct
for some insurers, as they try to figure out how to get closer to the end customer
while building loyalty in their face to face channels. People buy from people, as
my colleague Christian Bieck often says, so going direct and going digital
means providing your face to face intermediaries with digital capabilities as well.
3. Redefining the business model by adding (or replacing) physical with
digital value and revenue. Now thats going digital!

New, digital revenue, transforming the customer experience and finding new ways
to create value through digital, is going digital. On the other hand, it is an area
that most of our industry is not ready to address. With a few exceptions, we are still
in the discussion and exploration phase of what does digital revenue look like for
an insurer. It could take the form of social community insurance that goes
beyond social empathy selling. It could be adding a channel through social media
for sales, where the wisdom of your social networks provides advice before
purchase (this sort of happens, but insurers usually have no input into these
recommendations unless an agent just also happens to be a friend or a follower of
someone asking the question). Or perhaps it is niche products based on real time
events sold through social media and mobile (some insurers already do this in
some markets). It could be integrating more fully into a customers social network,
similar to what American Express has done with their Amex Sync. Or pay claims
in (near) real time, much like what The Climate Corporation does for weather
insurance. I also heard some other more forward thinking ideas from some of the
innovation labs and think tanks that, when possible, will truly transform the way
the industry does business. Until then, stay the course on introducing digital
functions and capabilities into the business, no matter the stage of maturity. Why
and how will come in my next blog. Stay tuned.

Digital Insurance in india

India Goes Digital, So Does its Insurance Industry
The online insurance industry in India is witnessing a phenomenal level of growth
for the past few years. Indians were already aware of the online platform to fulfill
their educational and banking needs until sometime ago. When it came to

investments, fixed deposits and mutual funds were the most preferred purchases.
On insurance front, people started relying on internet to research about the kinds of
products. However, with each passing year, digital insurance industry gradually
expanded its footprints in India. And therefore, online mode is not limited to just
research and life insurance comparison.
In todays scenario, Indians are no more afraid to purchase online protection
policies. They buy, renew, make payment of premium online and even avail postpurchase services.
Going back in time, insurance sector started to penetrate the digital platform in the
year 2005. Everything began with the concept of online comparison and research
of insurance policies and this was made possible due to some web aggregators.
Web aggregators provided extra comfort to buyers by letting them compare policy
online. Though, it was never easy to persuade researchers to buy policies through
online mode. Nevertheless, transparency and safe payment gateways influenced
more than half of the researchers and appealed them to make a purchase. Insurers
also recognised the imprint online mode had made on the minds of consumers and
therefore they initiated to promote online term insurance quotes and policies. In
2010-11, most of the insurers started selling online. And at present, insurers have
made online mode a priority in their distribution strategy. Though, many insurers
are still focusing on term plans, but a few of them have moved ahead beyond term
and car policies.
What future holds for digital insurance sector?
Interesting fact explored in reports states quite significantly that previously large
amount of sales came through metros and tier 1 cities. However, now people from

even the mid-level cities like Indore, Jaipur, Lucknow and Surat and other tier II
and tier III cities are interested in buying.
There were around 165 million internet users in India in 2014. This figure has
reached around 200 million this year. Online purchase of policies has increased
from 2 per cent to 200 per cent in just two years. Looking at this, the growth rate of
the online industry in the years coming ahead is expected to be in three digits.
If a report from management consulting firm like BCG is to be believed, digital
insurance will skyrocket to Rs 15,000 crore by year 2020.
. This research implies that the industry is slated to enjoy a growth of 2000 per cent
in the next five years. Wondering how? Well, it has been estimated that online sales
contribute around Rs 700 crore to the total turnover of the industry altogether.

If this number is projected to reach Rs 15,000 crore, then the industry is going to
multiply its online sales 20 times. Thats an amazing inference!
India is going digital in a massive way. Recently Prime Minister Narendra Modi
launched the Digital India campaign. Insurance industry in India will not be an
exception.
More and more people are coming under the ambit of e-commerce and this trend
will continue moving northwards. With the government of India itself supporting
digitisation, the level of trust will go up. So, there is no looking back for a sunshine
industry like insurance, which is already experiencing a phenomenal growth.
As per the BCG report, life segment garners almost 45 per cent of the total online
insurance market. Vehicle protection is the second largest segment contributing Rs
250 crore to the total sales of Rs 700 crore. The other segments such as health and
travel secure the remaining piece of the cake.
The digital impact
As per industry research and analyses, it is said that in the 2-3 years, three out of
every four insurance purchase decisions will be influenced by digital channels of
sales and marketing.
Thats an astounding number. It simply demonstrates the power of digital media
and its growing role in the insurance sector in India.
Are digital insurance and online insurance different?
There is a thin line which makes a big difference. Digital is an overarching
structure and online insurance sales is a part of it. Digital insurance also

encompasses use of digital technology to not just promote the services but also to
enhance the overall customer experience. It is also about efficiency and setting up
systems and processes.
Online sales, is though a tangible aspect and an insurer can quantify the impact of
its online marketing efforts.
What about consumer interests?
When it comes to the Internet, Google is one of the most credible force. Recently,
this search engine giant conducted a study to analyse consumer trends over online
platforms and found that since 2008, a number of people have been searching for
life and health insurance policy comparison and related information online. This
trend has grown by 450 per cent. The general insurance industry rather witnessed a
cumulative growth rate of 600 per cent in the past five years.
These numbers reflect the magnitude of digital insurance in India and act as a
testimony to the success of online channels.
benefit of drawback of digital insurance
Digital services offer convenience, choice and comparison. The financial services
industry, including insurance, is also making efforts to tap this space. Life
insurance, traditionally sold by agents, is available for online purchase, often at
lower prices. According to a report by Boston Consulting Group (BCG), total
digital market size for online insurance in financial year 2015 was Rs.1,000 crore.
Life insurance (new business premium) was worth Rs.350-400 crore; motor
insurance (gross written premium) Rs.300-350 crore; and health and travel
insurance (gross written premium) of Rs.150-200 crore.

The overall online market for insurance sector stands at around 1% for both life
and non-life segments. In life insurance, term plans are the most bought product
online, while in non-life, it is motor, health and travel insurance. The market has
grown six to seven times in the past six to seven years, according to estimates by
BCG
Many services, and sale processes are now technology-based. For instance, paying
premiums, making a claim, and tablet-based sales processes in which the agent
keys in relevant information in the tablet and the system recommends suitable
plans. The digital platform has standardized the sales pitch and product features
are communicated to the customers in a manner that is easy to understand, said
Sandeep Batra, executive director, ICICI Prudential Life Insurance Co. Ltd.
Digital orientation can be classified into enriching customer experience and
regaining direct control of the customer relationship. This will change the
dynamics of the sector, said Pradeep Pandey, chief marketing officer, Future
Generali India Life Insurance Co. Ltd.
.
Digital format holds many advantages for the customer as well. Heres how you
can make use of whats on offer.
Cost advantage
A digital avenue helps insurers save on various operational costs. This can be
passed on to customers in the form of cheaper policies online.
Usually, brokerage for term plans is around 30% of premium while for unit-linked
insurance plans (Ulips), it is 5-10%. The premium difference between offline and

online is 35-40%. Even in auto insurance, the difference is 15-20%, said Mahavir
Chopra, headhealth, accident and life insurance, Coverfox.com, a policy
comparison site.
For example, a working woman in her 30s wanting to buy a term plan for a sum
assured of Rs.50 lakh for 10 years and premium paying term also of that long
would get a policy online for a premium of about Rs.3,500, while the same plan
would cost around Rs.5,600 if bought offline. There is, however, a certain income
limit defined to buy a term plan online. It differs across companies, said Chopra.
The other advantage of the format is speedy sales service and increased efficiency.
Customers are able to get timely and accurate updates on modifications in their
policies. This, too, has increased cost efficiency. Technology enables
standardization and improves quality of responses and services, said R.M.
Vishakha, managing director and chief executive officer, IndiaFirst Life Insurance
Co. Ltd.
Safety net
Another significant advantage is elimination of chances of fraud and mis-selling,
especially by an agent or distributor. For instance, if a customer bought a policy
through an agent, and premium is paid in cash, the agent may not deposit the
money. Or, an agent may force the customer to churn policies or buy a new one
just so she can earn the hefty first-year premiums. But when someone buys a plan
online, the premium goes directly to the insurer. Also, you are usually clear about
what you want to buy based on price and features. You also fill the proposal form
yourself giving accurate information, which reduces the chances of fraud and
claims being rejected due to incorrect information. Agent involvement gets

reduced to a large extent; so premium thefts, sliding and other agent initiated
schemes get reduced too. But there is a need for data sharing and linking with
various government and private agencies so that information submitted gets
verified instantly. Even frauds and discrepancies can be caught spot-on, said
Bharat Jeswani, chartered accountant, Bharat Jeswani & Co.
With any online or digital transaction, safety is a concern. In this regard, insurance
companies say that safety is maintained since no vulnerable financial data stays
with them. All online applications are tested for vulnerabilities and customer
payment information is routed through payment aggregators, hence, no credit and
debit card data is stored with insurers, said Snehil Gambhir, chief operating
officer, Aviva Life Insurance Company India Ltd.
But while dealing with policies online, many documents are shared with multiple
parties. Therefore, it is prudent to share documents with insurers that have strong
data protection controls such as being ISO:27001 and ISO:22301 certified. Check
the company description section online or ask the representatives before
concluding a sale.
Convenience tops
While digital formats bring in cost efficiency and safety, a feature that probably
trump the other two is convenience.
A step in this direction is formation of insurance repositories, which preserve data
of insurance policies in electronic format. This is similar to having stocks or
mutual funds in a demat format. At present, there are five insurance repositories,
and insurance companies have to tie up with all of them.

There are various benefits of holding electronic policiesno physical damage or

loss, know-your-customer process is simplified and it is possible to manage
multiple policies via a single platform, said Batra.
At present, however, only life insurance policies can be stored with insurance
repositories. The process to get health, motor and travel policies on to the platform
is underway.
Ask your insurer if your policy is already with a repository. If it isnt, make a
request. Keep the account number with you and access whenever you need to see a
policy. Even if the policy is not with a repository, it will be available online with
the insurer.
Post-sales service

A major complaint against insurers is that once a policy is sold, the customer is
forgotten. Social media has changed that to an extent. Most insurers have Facebook
and Twitter accounts, which are a platform to receive complaints and to promote
new products or features.
As a practice, we ensure that customer queries received on business days are
responded to within 30 minutes across Facebook, Twitter or other online
platforms, said Sanjeev S., head, marketing and e-channel, ICICI Lombard
General Insurance Co. Ltd. We get an average of 100 queries on social media in a
month and we look into all the queries, he added. For instance, Mint followed a
case on Twitter in which a customer had complained about claim settlement. Claim

was for Rs.1.09 lakh. It was settled in 11 days from the date the first complaint was
made on the microblogging site, and the company replied to the customers tweet
with the settlement details.
If you, too, have a query or grievance, use a social media platform for speedy
response. Go to the particular insurers account, and put forth your comments. Try
to give as many details as possible.
Such interactions have the potential to make the grievance redressal system easier.
Many insurers have developed their own apps. For example, ICICI Lombard
General Insurance Co. Ltd has IL Insure, through which customers can buy and
renew products in motor, health and travel categories. Bajaj Allianz Life Insurance
Co. Ltd. has developed an app called Life Assist and it helps users view policy
details, claim status, net asset value updates, and fund value. One can also get an
income tax certificate for any year since the policy inception using this app if you
need it to claim tax benefit.
Faster processing
Health insurance claims is another segment that is seeing the benefits of digital
innovations. For example, Remedinet Technologies Pvt. Ltd provides a system
through which health insurance claims are processed on cloud-based platforms;
data is exchanged and processed between the hospital and the insurance company.
The errors and delays are reduced and the process is more transparent as you can
see the data on the platform with timestamps and history. With such technology in
place, cashless claims get passed in 3-4 hours while reimbursement claims take up
to 4-6 weeks, said Kapil Mehta, executive director, SecureNow Insurance Broker
Pvt. Ltd.

Without a cloud based platform, cashless claims are generally sent through e-mails,
and can take 6-8 hours, or more, to get passed, depending on the insurers response
time.
Adapting to the digital format holds value for the insurer and the customer. The
entire experience, from buying to making a claim, can be made smoother.