HOW DATA HELPS MAKE THE BEST INSURANCE CHOICES

Do your checks but act and buy. Being uninsured is a far greater risk than buying wrong insurance.

- 

Kapil Mehta Co-founder, SecureNow Insurance Broker

INSURANCE BUYERS are spoilt for choice. India has over 50 insurers, over 300 life insurance, more than 200 health insurance and at least 30 motor insurance products. The options are bewildering if one looks at sub-variants and add-ons. So many options make buying insurance a difficult decision. There are two kinds of buyers. The first, more common, are those that ask friends and families and decide on anecdotal experiences. The second look closely at product combinations and analyse the information available. The best way is to combine both approaches. You must look at anecdotal evidence but also hard facts. To do this efficiently and not get caught in complicated analysis, work with an intermediary. In any case, the price of insurance generally does not depend upon the intermediary.