Author(s): Rajesh Verma, Stuti Gupta, Kunal Goyal, Vernika Sahni
This is the era of digitalisation; every sector is evolving with technological advancements and insurance sector is one of them. This paper is concerned with the impact of digitalization on marketing of insurance products on various aspects from getting information about the policy, resolving queries, claim process and on other aspects as well. Further in this paper various distribution channels have also been discussed both traditional and new distributors, and how digitalization has affected them in marketing of insurance products. It also has been analysed how customers are now more interested in purchasing insurance online, in which web aggregators has played a huge role. Entry of web aggregators in distribution channel and their role in making insurance sector more digitalized which benefited both customers as well insurers, and the new practices adopted by insurers to deliver greater value to their current and prospective customers is also discussed in this paper.