Managing car insurance in India has become effortless through apps
Internet penetration is getting deeper in India with each passing year. From just 15.1% in 2013, the percentage of population that access internet has risen to 34.8% in 2016. This phenomenal growth in just 3 years not only ensured that internet is here to stay in India but also facilitated the growth of many industries with insurance being no exception.
* Estimation for 1st July, 2016
Most Indians access internet through their smartphones. With the advent of mobile applications or apps smartphones have surpassed the popularity of desktops and even laptops. Apps are very easy to use and one can have them downloaded without having to spend much. In the niche of insurance, many insurers have jumped on the mobile apps bandwagon and have come up with several different insurance apps to make the lives of their policyholders easier. Since, motor insurance is the most thriving segment many apps have been designed to meet the exceeding demand of consumers. Let's have a closer look at those mobile apps that are creating ripples in the domain of car insurance in India.
Top 5 Benefits Of Using Car Insurance Apps
Car insurance is a must for car-owners in India. Car-owners are managing motor insurance cover flawlessly through various car insurance apps as all the crucial information are at their fingertips now . Right from purchasing vehicle insurance cover to claim registration, these apps take care of all the nitty-gritties of car insurance policy. Here are the top advantages of resorting to various car insurance apps available in India.
Car Insurance Premium Calculation
In early days, premium calculation used to be a tedious task as it involves intricate factors such as depreciation rate, age of the car. However, a new app has launched very recently to calculate the motor insurance premium of various general insurance companies operating in India in the likes of National,Oriental, New India, United India Insurance, HDFC, Bajaj, ICICI, Reliance and many other car-insurers.
Consumers no longer need to approach agents and dealers to calculate the premium of their car cover as this smart app is capable of providing the right quote within a few minutes.
Car Insurance Policy Renewal
Motor insurance renewal is an annual event for all car-owners in India and now they can get it done through apps. One of the public sector insurance giants National Insurance Company has come up with an app to facilitate customers with the scope for motor insurance on the go. This app boasts secure payment options so that for policyholders can pay online to renew their existing car insurance plans.
Once the payment is made successfully, consumers will immediately receive the renewed policy document and the money receipt on their devices.
Comparison Of Car Insurers
Now that the online insurance space for car boasts a huge profusion of insurers, consumers prefer to compare the quotes offered by different car insurance companies. Premiere insurance comparison portals like GIBL.IN have come up with user-friendly app to provide car-owners with an easy and fast comparison of policies on offer by leading car-insurers in India.
One just have to put in some basic information to compare multiple quotes of various car-insurers and grab the best available deal. Aside from four-wheelers, online insurance comparison portals also let consumers compare two-wheelers' insurance quotes.
Instant claim registration
Filing a car insurance claim and getting it approved in particular, used to be a nightmare for car insurance policyholders. However, car insurance apps have simplified the complicated claim registration process. Now, you can lodge a motor insurance claim instantly through apps. All you need to do is take a snap of your damaged vehicle and send it to your car-insurer and intimate them about the mishap that you car came across.
The functionality of the app is not limited to only instant claim registration, it also helps policyholders keep a track of their claim status and reimbursements.
On-the-go Support
Aside from carrying out tasks like purchasing new car policy, renewal, claim registration and comparison of different car-insurers, policyholders can also manage their car insurance plans better through apps. Bajaj Allianz, one of the most popular private sector general insurance companies has come up with a new app that keeps a tab on service records and mileage of your vehicle. The app also provides reminders regarding insurance renewal, re-fueling and servicing of your car.
The app executes an array of crucial car insurance management services which include;
- Service records and mileage management
- Maintenance of insurance records
- Fuel fill up, insurance renewal, service reminders
- The app generates graphical and tabular reports
- The app helps synchronize data between multiple devices
Conclusion:
Mobile internet users make up the lion's share of all the internet users in India. The total number of mobile Internet users was 80 million in October 2015 and is likely to cross 109 million by the month of June 2016. Since India's total population is around 1320 million (132 crore) now; 1 in every 12 Indians will access internet from their mobile phones.
Source: http://www.livemint.com/
This staggering rise in mobile internet users will trigger and expand the usage of mobile apps in coming years. Apart from the apps discussed above, India's insurance sector is all set to witness a whole new range of user-friendly insurance apps in coming years. Hopefully, those apps will come up with a plethora of new features so that policyholders can carry out more insurance related tasks through apps than what they do now.
ABOUT THE AUTHOR
Aditi Sharma is PR & Marketing Executive of GIBL.in, a distinct online portal, where one can compare among insurance policies, provided by 25 renowned insurers in India, & can buy the most suited policy instantly. Email Id - aditi.sharma4272@gmail.com
Website - https://www.gibl.in/
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