Online Distribution Channel Development in Life Insurance: A Literature Review

Digital as a sales channel has recently received attention from several insurers and is poised for solid growth over the next few years. However, the level of digital influence, especially on people researching online before purchasing insurance, is significantly different. Although the Internet is changing how customers interact with insurance companies, traditional sales methods such as direct contact are still very important, especially for life insurance policies with great value and high security. The new trend of consulting and marketing insurance contracts through online platforms such as social networks, phones, and websites is becoming increasingly popular among them. This study aims to review the development trend of online distribution methods in life insurance based on theoretical overview research. On that basis, analyze and synthesize the development trends of this distribution channel as lessons for the life insurance market in Vietnam in the current context.