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.