Online payment trend of general insurance company

Online payment is one of the trends that is concentrated on development by the general insurance company in the recent time. Many users are not used to paying online, so the rate of online payment only makes up about 10% of transactions of electronic commerce in 2015. In this article, we’re learning more about the reason why users refuse to use online payment, the advantages and disadvantages of this new kind of payment.

Online payment trend of general insurance company

What makes users afraid when using online payment?

The percentage of users using online payment is still low because they still do not have such habit. A female customers who bought insurance coverage through online channels, but she refused to pay the fee via online channel due to the fear of being stolen personal information.

Although the online payment is still uncommon during this time, the insurance company is quite sure that this trend will increase in the near future. The development of this trend comes from three reasons:

- First: More and more users have the habit of paying by card, and this percentage is quite high in 2015. Owning a card is becoming more and more familiar to may people in Vietnam. Instead of using cash, they pay by debit card or credit one. This is not only convenient but also safe when the customers do not have to bring too much cash along. That also helps prevent money stealing when the card is in the thief’s hands.

- Second: The advantage of online payment compared with payment in cash is that there are no longer risks of dropping cash, depending on aware of an insurance salesman, ...

- Third: Paying fees online is continuosly developed and invested by bank and insurance company. Many incentives when paying with cards.

To create the habit of online transactions, many insurance companies consecutively launch the gift giving or discount campaign for customers. Such insurance programs as reward when buying insurance online, or gift giving when paying with card are used even by big insurance company.

Online payment is not new for the life insurance industry, but to general insurance, this new kind promises to bring more convenience to customers and insurance companies.