With over 120 million users, India already has the third-largest internet user base in the world. Over half of these net users will access the internet solely through mobile or tablet devices by the year 2015.
Mobile phones are undoubtedly redefining our lives by facilitating quick access to the internet. Insurance companies in India have not lingered behind in using the mobile to their advantage, their target base? A staggering 40 million smart phone users!
As early as 2011, companies in India began launching mobile applications to assist policy holders in paying premium, making a claim, locating the insurer's garages, all through their mobile devices. Currently mobile applications are available for life and car insurance. These applications help policy holders manage their policy details, access policy status and information all at their fingertips. Some car insurance applications go a step ahead, they not not only help customers maintain policy details but also helps maintain vehicle records, update fuel entries, track expenses on fuel, set reminders for insurance renewals and servicing.
Even the claim process has been addressed by certain applications which allow customers to file their claim via their mobile phones. In the event of an accident, they can simply click a photograph and intimate their insurer about making a claim. Paying the premium is also easy with applications even generating a receipt as soon as payment is made by the customer. To incite customers, companies offer additional features like access to the latest stock market news, live cricket scores and instant weather updates through the application.
Mobile applications have also been developed for the purpose of comparison of policies. Customers can now compare health and term insurance product offerings across companies on their mobiles. Premiums can also be compared with the help of such sites.
In short, such applications are customer centric. They help compare policies, register claims quickly, They are also expected to improve the 'turnaround time'; the time taken to settle a claim after it has been filed by a customer. Paperwork and hassles are also expected to reduce. Insurance on mobiles have only benefited the customer and considering the boom in smart phone users, will continue to do so.
If you are a policy holder, you just have to reach out to your mobile to manage your insurance policy. If your not, what are you waiting for? buying an life, health, travel or car insurance policy has never been easier!
Mobile phones are undoubtedly redefining our lives by facilitating quick access to the internet. Insurance companies in India have not lingered behind in using the mobile to their advantage, their target base? A staggering 40 million smart phone users!
As early as 2011, companies in India began launching mobile applications to assist policy holders in paying premium, making a claim, locating the insurer's garages, all through their mobile devices. Currently mobile applications are available for life and car insurance. These applications help policy holders manage their policy details, access policy status and information all at their fingertips. Some car insurance applications go a step ahead, they not not only help customers maintain policy details but also helps maintain vehicle records, update fuel entries, track expenses on fuel, set reminders for insurance renewals and servicing.
Even the claim process has been addressed by certain applications which allow customers to file their claim via their mobile phones. In the event of an accident, they can simply click a photograph and intimate their insurer about making a claim. Paying the premium is also easy with applications even generating a receipt as soon as payment is made by the customer. To incite customers, companies offer additional features like access to the latest stock market news, live cricket scores and instant weather updates through the application.
Mobile applications have also been developed for the purpose of comparison of policies. Customers can now compare health and term insurance product offerings across companies on their mobiles. Premiums can also be compared with the help of such sites.
In short, such applications are customer centric. They help compare policies, register claims quickly, They are also expected to improve the 'turnaround time'; the time taken to settle a claim after it has been filed by a customer. Paperwork and hassles are also expected to reduce. Insurance on mobiles have only benefited the customer and considering the boom in smart phone users, will continue to do so.
If you are a policy holder, you just have to reach out to your mobile to manage your insurance policy. If your not, what are you waiting for? buying an life, health, travel or car insurance policy has never been easier!
