Buy online insurance products the smart way

The virtual world is increasingly cornering a sizeable chunk of transactions — ticket-bookings , hotel reservations and even some financial transactions are now available online . For example, there are several websites like policybazaar .com, myinsuranceclub .com, click2insure .in, medimanage .com, eindiainsurance .com etc. that help you buy insurance online. However, this segment had been left out of the regulatory ambit, with no operational guidelines for such companies in place at the moment . Recently, the Insurance Regulatory and Development Authority (Irda) released draft guidelines for the sector, inviting comments on the same from all parties concerned . While online portals do offer the convenience and tools required to make an informed choice, such decisions call for a more stringent due diligence in terms of quality of information put up as well as the reliability of the portal itself.

The draft norms look to address such concerns:
Think before you click
Privacy concerns
Advantage insurance-seekers?
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