International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


Downloads: 142 | Views: 323 | Weekly Hits: ⮙1 | Monthly Hits: ⮙1

Research Paper | Accounting | India | Volume 8 Issue 8, August 2019 | Popularity: 6.4 / 10


     

E-Insurance: Challenges and Opportunities in India

Dhaval Nakum


Abstract: Insurance is a risk management tool. Although India is the second most populous nation in the world, growth of insurance sector is compromised. Regulatory authority IRDA has introduced E-insurance concept where one can store all the insurance policies in dematerialize form. It works just like demat account of securities. PM Narendra Modi has launched Digital India Programme and recently after demonetization also emphasized on Cash Less Society concept. This paper has analysed some of the challenges and prospects of E-insurance. Key challenges includes platform issues over internet, format of E-insurance, IRDA’s guidelines for insurance aggregators, chances of frauds, awareness among people and lack of trust on technology in adoption of E-insurance. Currently, most of the life insurance companies are providing only term insurance on online platform. Favourable regulatory changes for insurers like amendments in insurance laws show positive sign for growth of E-insurance. The growing internet segment and consumer behaviour in the e-commerce space clearly corroborated that there is an ever growing market for financial products and online research for insurance is converting into sales.


Keywords: E-insurance, Digital Insurance, Insurance Repository


Edition: Volume 8 Issue 8, August 2019


Pages: 1397 - 1400



Make Sure to Disable the Pop-Up Blocker of Web Browser




Text copied to Clipboard!
Dhaval Nakum, "E-Insurance: Challenges and Opportunities in India", International Journal of Science and Research (IJSR), Volume 8 Issue 8, August 2019, pp. 1397-1400, https://www.ijsr.net/getabstract.php?paperid=ART2020607, DOI: https://www.doi.org/10.21275/ART2020607