Impact of Technology on Business Values and Marketing in Insurance Sector in India

Abstract

Today Internet has provided brand new distribution channels to the Insurers. The technology has enabled the Insurer to innovate new products, provide better customer service and deeper and wider insurance coverage to them. On insurance front, people started relying on internet to research about the kinds of products. However, with each passing year, digital insurance industry gradually expanded its footprints in India. E-business affects the whole business and the value chains in which it operates. It enables a much more integrated level of collaboration between the different components of a value chain than ever before. Adopting e-Business also allows companies to reduce costs and improve customer response time. This paper highlights Changing Scenario, impact, Latest Trends, Challenges to Enhance Technology in Insurance Sector and Penetration of e-commerce in the Indian Insurance Industry.