 "Bharti AXA General Insurance Co launches e-commerce enabled portal")
Bharti AXA General Insurance Company launched an e-commerce enabled website www.bharti-axagi.co.in based on consumer insights. A recent user research on online buying patterns of insurance, conducted by Bharti AXA General Insurance Company has given insights about online purchase of insurance in India. This report formed the basis for the launch of the new website which is designed to ease the online buying process of insurance. Customers can buy policies across motor, health, home, personal and critical illness insurances.
Amarnath Ananthanarayanan, managing director and CEO, Bharti AXA General Insurance said, "We are witnessing a surge in online penetration in the country. Our research has helped us fine tune our website to aid easy purchase of insurance. Claimants can also readily access our garage and hospital networks across the country on our website to make a quick decision on claims. We are also looking at enhancing our website in the near future for retail claims with the introduction of end to end solutions to ease the entire claims process for customers, from claims notification, reserving, investigation, survey and assessment as well as claims payment."
Focusing primarily on health and motor insurance the research brought to light some behavioural patterns of online customers that collectively point towards the need for buying insurance quickly and in a hassle free manner. On health insurance, the research revealed some interesting insights like -
- Health-related incidents to close family and friends pushes customers to buy insurance immediately
- Social circles have a huge impact on the purchase of health insurance and brand selection for further consideration
- Most people do not understand the terminology and meaning of the different benefits and conditions and prefer to be guided through
In the growing motor insurance market and the increase in web retailing, the study revealed -
- Most people look for quick comparisons
- Requests for too much information about the vehicle's details, most of which are in documents like the RC book, can discourage the customer from buying insurance online and he/she can immediately look for other options
- Renewals are a very important trigger for customers wanting instant policy issuance
The research covered three key cities --- Mumbai, New Delhi and Bangalore --- which ranked amongst the highest in demand for online insurance, and was conducted across health and motor insurance.