On-Demand Insurance
Updated: 05 January 2025
What Does On-Demand Insurance Mean?
On-demand insurance refers to policies that can be purchased online without the need for direct interaction with a broker or company representative.
With features like faster applications and pricing, industry experts predict that on-demand insurance will bring significant changes to insurance industry practices.
Insuranceopedia Explains On-Demand Insurance
With on-demand insurance, individuals can easily purchase coverage using their smartphones. They simply need to download an app or visit an on-demand insurance provider’s website and enter the relevant information.
The application process is more streamlined than traditional methods, and approvals are faster. However, as of May 2017, coverage remains limited to smartphones, tablets, computers, and photography equipment.
