Just click for cover

You're cruising down the highway, wind in your hair, music in your ears. Then, out of the blue, a biker decides to cut across in front of you. Accident, crowds, cops. And the first thing the policeman asks for, after your licence, is your insurance papers. That's when you realise you've forgotten to renew your auto insurance policy, which lapsed more than eight months ago. After much ado, you land up at your uncle's place, only to find the entire family standing in front of the ruins of their home. A short circuit caused a fire and the house doesn't exist any longer. The family is shattered; how will they rebuild? What about insurance, you ask. Only to hear your uncle dazedly mumble that he did not bother to take a policy because the insurance company's office was too far away and he did not trust the agent.

Insurance companies know that these stories are more real than any of us would like to think. This is why most companies have taken serious note of ways to make their products more accessible and easy to buy or renew. The answer that seems to suit everyone is online insurance. Sadly, while companies seem to understand the relevance and importance of online selling and renewal of insurance policies, few seem to take an active interest in promoting their online presence. Spending on better aesthetics, content and navigation is not top priority for insurers, who feel that they have more pressing matters on hand. But things could change. For instance, Future Generali plans to revamp its Website, which is so lacklustre currently that it prevents all but the most persistent to surf for products. Other sites have unfriendly registration processes and, in some, the claims section is well hidden. The good news is that there are sites like ICICI Lombard's, which are clean, simple, easy-to-use and rich in utilitarian content.

Apart from the online presence of insurance firms, the demand for Web-based insurance has led to the birth of insurance aggregator sites. These Websites provide users with price and feature comparisons, allowing buyers to take informed decisions. Gautam Gupta, CEO, Insurance-KiyaKya.com, says, "Often, a customer wanting to buy insurance doesn't know how to approach agents. We do that for him." Competition ensures that the agents act in double-quick time to reach the customer.

Some popular insurance aggregators are apnainsurance.com, click2insure.in, and insurancepandit.com. All promise a hasslefree price comparison across insurers and products. Apnainsurance also has a facility to sell insurance online, but users find it difficult to navigate. PolicyBazaar.com is a good site for quotes. Its CEO, Yashish Dahiya, says, "We are linked directly to some insurers to get the latest pricing. Where we are not, we have a 48-hour price protection clause so the customer is not affected."

Aggregators: What's on offer

• A bouquet of products from various insurers.
• Comparative tools for products.
• A platform for purchasing insurance products.
• Customer support to track orders.
• Provisional quotes to help you take a decision.