Instant insurance is one of the emerging trends that is revolutionising the insurance sector and is based on the sale of a temporary, low-cost insurance purchased by smartphone at the very moment in which the need arises. A trend that meets emerging consumer needs, expressed by a highly digitized client base, increasingly linked to a "nomadic" consumption behaviour.
The most affected areas are those related to travel (assistance, flight delays, luggage) and injuries for non-competitive sports, but also insurance solutions for household appliances or electronic devices such as Hi-Fi systems, smart TVs, smartphones and tablets (mainly assistance and repair coverage). Another area of growth is that of on-demand policies in relation, for example, to sharing mobility (e.g. electric scooters).
In all cases, the distinctive feature of on-demand policies is the complete digitization of the purchasing process, via web and even more so via mobile channel: it is therefore essential to have an insurtech platform with a simple, intuitive, attractive, transparent customer interface that is also able to process data and automate the entire underwriting process as much as possible, from the quote to the sending of the policy certificate.
Nexi Partners:
