Over 80 per cent of insurance buyers still prefer a physical copy of their insurance document despite rapid digitisation, a survey report said.
“With the contribution of insurance to GDP having risen sharply in the last one year, it is important to also make buyers feel safe about their investment, a recent survey by Bombay Master Printers Association (BMPA) said.
Most companies still ask for the original paper document while processing the claim. The insurance regulator must consider restoring section 4 and mandating issuing physical copies of the policy document at the earliest in the interest of buyers, it said.
As an insurance policy is a contract between the insurance company and the insured individual, nearly 82 per cent of the buyers preferred a physical copy over the digital, according to the findings of the survey based on around 5,900 responses spread across age groups and regions.
