Digitization leaves no stone unturned, especially when it comes to customer delivery and satisfaction. Industries including insurance are taking important steps to meet trends and customer requirements. What was once a lengthy process of understanding and purchasing insurance policies is now being modified to meet consumers’ needs and convenience.
In this article, you’ll learn what D2C insurance is and how it’s disrupting the insurance sector.
What is D2C insurance?
D2C insurance is an acronym for Direct to Consumer Insurance. It is simply the practice of insurance that does not involve agents, provides better clarity and claims options for delivery directly to end users.
How does D2C insurance work? The idea of D2C is for insurance companies to meet consumers wherever they are, without any intermediaries or boundaries to offer risk management in the form of insurance contracts.
The direct-to-consumer contact model was invented during the stay-at-home policy to mitigate the COVID-19 pandemic. Insurance companies also followed this trend to meet consumers as they were selling their packages. Since then, D2C insurance has been around as many insurers focus on using D2C channels to market and close deals.