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Term life InsuranceNovember 3, 2020

Buying Insurance Online is hassle-free and safe – only with Bimakaro

India as a global market is still very traditional in operation. Despite the swift changes to online systems of transactions in the last couple of years. The amount of people buying in terms of percentage is fairly low. For example – online shopping is barely 2.9% of total retail sales as per JP Morgan trends report.

Buying Insurance Online is hassle-free and safe – only with Bimakaro 1

This means that despite seeing a gazillion advertisements, knowing that everybody in our circle shops online and noticing upwards trend in online shopping, we still do not trust the online space. Of course, factors like internet penetration and rise in disposable attribute to this as well. The acquisition of trust is the toughest assignment for any brand in India (even higher than customer acquisition). What does that mean? A company must spend a lot of more to ensure that it gains your trust versus just acquiring a customer. Also, it is difficult to convince generations that vary from old to rural to purchase something online that is traditionally viewed as unsafe (since online scams make it to the forefront of news).

Surprisingly there are other sectors where the trust factor is higher for online mediums such as Banking sectors which do reasonably better. According to a survey by Avaya, 26% of Indian customers prefer accessing services via mobile apps. Pointing to this fact, the trust factor would be highest among the banking sector.

Now let’s turn our attention to insurance – a purchase that has always been viewed as a hassle filled experience. Filling forms, getting in touch with honest agents and getting great after-sales service. Back in the day, these were the hardest to find in a market that was dominated by cut-throat agents, tedious processes and an after-sales service that was a pain to navigate through. Such processes are cumbersome, time-consuming and frankly unnecessary in the 21st century. Gone are the days of your parents and grandparents, were roaming from office to office, filling in countless paperwork and ultimately not getting the best possible cost for your insurance.

As the shift in the world from offline to online, it’s time to shift perspectives towards the online space. There are plenty of factors in favour that will help determine this. Let’s look at a few below:

  1. Simple, Convenient and Accessible – The brilliance of purchasing online is the fact that it can be accessed from anywhere and this enables even the staunchest to give in. Why would one jostle through large crowds, navigate traffic and land up at the table/waiting area of your insurance provider when all the time can be used to find the plan that works best for your requirements. Many views purchasing online as a complex process; however, companies like Bimakaro have painstakingly tried to create a platform that solves most complexities. It facilitates smooth transactions for all.
  2. Flexibility of Plans – Unlike offline options, online term insurance offers greater product customization that bends according to the needs of the customer. It is easy to get exactly what one desires as there is something for everyone. The plans can be compared to each other so that you get the best possible value. This means that you’re getting maximum value as the competition factor between various companies is high.
  1. Hassle-Free – The most important aspect of purchasing online is the fact that there are no paper costs, processing fees, agent’s fees etc. This is a crucial factor as the customer gets the value of what he or she desires while sitting in the comfort of their home.
  2. Expert Guidance – The added benefit is that Bimakaro ensures that you have a smooth end to end experience. Even if you have selected a plan and you are still unsure of it, just a simple call and all problems are solved. Financial experts are there to guide the user with the best possible purchase. Of course, once the product is purchased there is a robust after-sales service. In case there is an emergency, people can quickly call in the customer service and have their query resolved in a jiffy.
  3. Transparency and Safety – Purchasing online means getting a transparent outlook of Sum Assured from the lowest to the highest value. The terms and conditions are clearly stated, so there is no possibility of being misled which traditionally agents were known to do, to make you purchase a more expensive option that was not necessary for you. It is easy to refer to the T&C while making the purchase. Customers are also in the know-how when it comes to the Claim Settlement Ratio which may not be informed to those buying insurance offline.
  4. Lower Premiums – All these factors combine to ensure that the cost is low as overheads, commissions, logistics and distribution costs are removed completely. This automatically means that anyone purchasing online will be getting all the cost benefits versus one bought from an agent or store.

So, remember, buying insurance online is the easiest it has ever been. With platforms like Bimakaro, there is maximum safety, convenience, hassle-free and a smooth buying and after-sales experience. Log on to the website now to check out the best possible plans on offer. Get with the times and ensure the future of you and your loved ones. One never knows what the future holds, but with Bimakaro – you are assured that things will always move forward in the right direction.

Check out our newest TVC that takes a cheeky look at the pains of offline insurance buying: https://www.youtube.com/watch?v=NKLCo9_splA

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