Perceptual Exploration of Factors and Issues Affecting Adoption of E-Insurance

In this ever evolving competitive environment, technology is making its foray into lives of individuals by helping them get the work done at the click of a mouse only. And the financial services industry is no exception. E-banking has already been accepted and adopted by the younger generation and those having access to internet. Another application of E-Commerce in Insurance sector i.e., E-insurance involves keeping all or any of the insurance policies in electronic mode by the policy holders, where in everything including the request, proposal, contract and negotiation is performed on-line. Despite its proclaimed benefits, there are very few users availing this service. The present study is an attempt to explore the users’ perception towards E-insurance and their awareness of the concept. Using a sample size of 189 respondents based on convenience sampling, it further tries to investigate the factors affecting the adoption of E-insurance in India. Also, the study aims at finding out the potential issues and challenges associated with the usage of e-insurance.