It’s not unusual to find the denizens of the Web world using the Internet to compare prices on everything from travel to hospitality to loans, and now, more so, insurance products. What was traditionally thought of as an impregnable domain, owing to the requirement for 'human' contact, is finally yielding to the meteoric scope that the Internet offers.
Think about it… would you think of buying an insurance product on the Internet a decade ago? You would rather call up an agent and discuss your premium and compare / contrast it across various options. But the advent of the Internet has changed that considerably. The latest calculators and analysis tools help you sit within the confines of wherever you are and decide upon an insurance product. At a recent Roundtable by Post magazine, we discussed how the Internet has come to the forefront, especially with General Insurance (GI) products. The amount of business at stake is forcing providers to reverse engineer their products and re-assess their rating structures.
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