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India: Influence of internet on insurance sales set to increase, says report


A report by The Boston Consulting Group and Google India predicts that by 2020, digital channels will influence around 75% of insurance policies sold in India, reports Business Standard.

A BCG India executive said the firm estimates that "digital adoption could result in potential savings of 20-30%" of total costs in the case of nonlife insurance. The report said sales from online channels will increase in the coming years and total internet-influenced sales would be around 3-4 trillion Indian rupees ($50 billion-$66 billion) by 2020, Business Standard reported.

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