Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

What are robo-advisors in insurance?

Robo Advisors - Find out what are robo advisors, how does it works and key benefits of Robo Advisor in the Life Insurance sector. Visit Kotak Life to know more Life Insurance

  • Mar 11, 2021

Traditionally, the insurance industry has been operating on the maxim, “Insurance is ‘sold’, not ‘bought’.” Hence, the intermediary’s role in driving the sales process has been the backbone of this industry.

However, with advancements in technology, consumer behaviours are changing. Consumers today seek expert guidance without the need for face-to-face interactions or making appointments with advisors. This need led to the innovation of robo-advisors.

Robo-advisors, artificial intelligence-driven digital platforms, use sophisticated algorithms to automate the guidance process. Human involvement is minimal or non-existent.

How do robo-advisors work?

  • These automated advisors use simple online questionnaires to collect client data, such as their financial status and insurance goals.
  • Then, the data analytics software processes the information and applies financial planning models.
  • In seconds, the customers get recommendations on the insurance products matching their specific needs.

However, automating the process does not make it impersonal. Robo-advisory platforms capture granular customer data and purchase behaviour. Thereby, these advisors incorporate a wide range of scenarios and parameters.

Thus, customers can find out the type of coverage they need as per their financial situation. They get instant and accurate quotes through the software’s advanced underwriting techniques. Only the human interface is eliminated, making the purchase process easy and self-directed.

Benefits of robo-advisors

  • Lower insurance cost: Robo-advisors are integral parts of the insurance provider’s digital sales channels. The software automates sales and service processes. Such automation with digital interfaces lowers commission costs required for human agents. The insurers pass on these savings to customers through more affordable insurance products.
  • Round-the-clock customer support: Customers can access robo-advisors at any time they choose. The platforms deliver automated advice in a self-service model.
  • Tailored advice: The efficient and superior analysis capability of robo-advisors provides personalized insurance recommendations.
  • Attentive service delivery: Automated correspondence and follow-ups, like reminders on premium payments, improve customer engagement.
  • Fast policy issuance: These virtual intermediaries accelerate the application review process. These instantly assess risk-levels and apply premium loading factors in real-time. It removes the drudgery of document processing and underwriting. Thus, these algorithms reduce policy issuance time.

Are robo-advisors going to make insurance advisors obsolete?

The automated algorithms cannot completely replace an expert insurance advisor’s ‘human touch’. The robo-advisory platforms can handle most “predefined scenarios”. But some customers might have unique queries or needs. Such scenarios can be difficult to predict and build into the planning algorithms.

Moreover, not every customer has a do-it-yourself orientation. They prefer their questions answered in real life.

Hence, the best scenario for customers is when robo-advisors complement the work of human intermediaries. Customers can then make the best use of the available resources as per their preference. For customers more comfortable with human interactions, robo-advisors can serve as initial data capture and analysis tool. It speeds up the transaction process.


Robo-advisors have already become an integral part of insurance purchase. The algorithm’s capabilities will improve with time through machine learning technology. Robo-advisors will increasingly handle more complicated decisions, such as claim processing. Intermediaries and robo-advisors coexisting together will make buying life insurance easier for every customer.

Kotak Lifeoffers the perfect blend of automated policy suggestion and instant quotes with Life Advisors’ skilful guidance. You can choose your objective from pure protection, children’s needs, retirement, savings or wealth creation. You will get personalized suggestions and quotes based on your age, gender, lifestyle habits, annual income, and other details. You can decide to buy directly online or request help from a Life Advisor for making an informed decision.

Visit the website today and avail of the innovative services to buy the right insurance plan as per your financial goals.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

Similar Articles

Health Insurance VS Life Insurance

How to Choose Life Insurance for All Ages?

Why Online Term Insurance Plans Cheap?

How do life insurance payouts work?

Various Term Insurance Premium Payment Options Available in India

All You Need to Know About Life Insurance - Its Benefits, Features, and Types of Life Insurance

Is Life Insurance an Investment?

Process of Filing A Claim For Life Insurance

6 Different Types of Insurance Policies

Term Insurance Vs Life insurance: Small Details, Big Differences

How Much Life Insurance Cover Do I Need?

5 Things to Keep in Mind While Buying Life Insurance Policy

Life Insurance Vs. Mutual Funds Investment

What Is Investment Insurance?

Difference Between Insurance and Assurance?

Who Is A Nominee In A Life Insurance Plan?

Life Insurance and Retirement Planning

Is Life Insurance For Millennials Really Needed?

जीवन बीमा क्या है?

In India, should NRIs purchase life insurance?

Life Insurance Plans for Women

Can a Term Plan be the Substitute for a Retirement Plan?

Important Features of a Term Insurance Plan

What is Group Insurance?

Savings cum Protection Plans Secures Your Family from Unforeseen Events

What is Human Life value and a Human Life Value Calculator?

Why Do Life Insurance Agents Avoid Selling Term Plans?

What Is Insurance Rider and It’s Benefits?

Why do most Indians choose the wrong way to buy life insurance?

How Much Life Insurance Costs and How Much Insurance Cover You Need?

Customer Awareness on Information Security

6 Things You May Not Know about Life Insurance

How to Make Death Claims on Life Insurance?

Life Insurance with Money Back vs Without Money Back

Why Term Insurance for Women is Important?

What are the Benefits of Endowment Policy?

What is Minimum Life Insurance Policy?

Can NRI Buy Life Insurance in India?

Life Insurance Beneficiary

Life Insurance for Overweight Applicants

How Often You Must Review Your Life Insurance Policy?

Key Things to Review in Your Life Insurance Policy Document

Term Plan with Return of Premium (TROP)

How to Buy a Life Insurance Plan?

क्रिटिकल इलनेस राइडर के साथ टर्म इंश्योरेंस के लाभ

How Does Life Insurance Work?

Importance of Checking Claim Settlement Ratio before Buying Life Insurance

First Job? Here’s Some Tips on How to Manage Finances

Terms and Conditions of Term Insurance Plans

Nominee in insurance - A Complete Guide on nomination in insurance

“Life” Insurance or “Death” Insurance?

Important Life Insurance Terms You Must Know

Role of IRDAI in the Insurance Sector

Important Terminologies of Life Insurance

Do Life Insurance Premiums Increase Every Year?

Benefits of Term Insurance with Critical Illness Rider

All about Your Rights and Duties While Buying Life Insurance Policy

7 Superficial Reasons People Avoid Buying Insurance Online

All About Life Insurance and How It Works?

FAQs on Life Insurance

Can You Transfer Life Insurance Policies to Another Company in India?

What is a Single Premium Term Plan and its Tax Benefit?

Are Deaths Due To Coronavirus Covered by Kotak E-Term Plan?

Digital Life Certificate for Pensioners Seeking Pension

What is the Difference Between Insurance and Reinsurance?

Does Life Insurance Cover Terminal Illness?

Is it Worth Buying Disability Rider on Term Insurance?

भारत में जीवन बीमा पॉलिसियों के प्रकार

5 Easy Steps to Buying A Policy

8 Things to Consider Before You Buy Life Insurance

Top 5 Common Life Insurance Myths and Facts

Can You Apply For A Life Insurance After Getting Heart Attack? Here is Everything You Need To Know

Types of Insurance You Must Invest in for Secure Future

NRI Premium Payment Options

Comparing low premium term insurance Is Not the Only Factor While Buying Life Insurance

When are Millennials required to take out a life insurance policy?

Types of Life Insurance Policies in India

Life Insurance and Millennials

Most Common Life Insurance Riders to Enhance Your Existing Policy

What happens to joint life insurance after divorce?

5 Benefits of Gifting Life Insurance Cover to Your Spouse

Do Your Financial Planning with Life Insurance!

Why Your Family Should Know About Your Life Insurance Policy?

Is Voluntary Life Insurance the Same as Basic Life Insurance?

Is it Possible to Reduce Life Insurance Premium without Affecting Sum Assured?

How to Customize Your Life Insurance Policy with Riders

Life Insurance vs Mutual Funds

Term Life Insurance vs Accidental Death Insurance

What is Underinsurance & The Dangers of Being Underinsured

How to Calculate Human Life Value(HLV)?

Loan Against Life Insurance Policy

What Happens If You Stop Paying Life Insurance Premiums?

All About Backdating in Life Insurance

Choose the Nominee of a Term Life Insurance Plan Wisely

Difference Between Money Back and Endowment Policy

Life Insurance for Overweight Applicants

How To Choose The Right Life Insurance

What Should One Consider Buying: Term Insurance or Traditional Life Insurance

Does Family History Affects your Term Life Insurance Rates?

Different Kind of Deaths that are Not Covered in a Term Insurance Plan

Life Insurance Nominees: 5 Must-Know Facts for Beneficiaries

Beware of Phishing & Fraud Insurance Calls

Why Should You Buy Term Insurance under the MWP Act (Married Women’s Property Act)?

Voluntary Life Insurance Policy Vs Group Life Insurance

भारत में सर्वश्रेष्ठ टर्म प्लान कैसे चुनें?

All about IRDAI

Why do I Need Life Insurance?

What Is a Whole Life Insurance Plan?

What is the Difference Between Limited and Regular Pay Insurance Plan?

क्या जीवन बीमा एक निवेश है?

What is Sum Assured in Endowment Policy?

What is Insurance Coverage? Overview, Types, and Examples

5 Ways to ensure faster settlement of claims

How Much Life Insurance Do You Need?

Term Insurance for Home Loan: How Term Plan Helps in Paying Off Home Loan?

Does Life Insurance Pay for Suicidal Death?

5 Reasons Why a Women Should Buy a Life Insurance

How to Buy a Term Life Insurance Online

All You Need to Know About KYC

Important Changes to Make in Your Health & Life Insurance Plan After Marriage

Does Life Insurance Policy Cover Covid Death?

Types of Life Insurance Or One Investment, Many Options

Adding A Child to Your Life Insurance Policy?

Why is Medical Test Important While Buying a Term Insurance?

Life Insurance Policy Closure

What Should One Expect During the Medical Evaluation for Life Insurance?

How to Find the Best Term Insurance Plan in Seven Steps

Is It Advisable To Have Multiple Life Insurance Policies?

Role of Life Insurance in Your Financial Portfolio

What Is The Life Insurance Penetration In India And How Does It Compare Globally?

How Do Term Insurance Plans Differ for Smokers?

बीमा क्षेत्र में IRDAI की भूमिका

Take 100% Responsibility of Your Family with Term Life Insurance

Choosing a Life Insurance Beneficiary

Choosing Between Short-Term & Long-Term Insurance Plans

How to Select a Perfect Life Insurance Policy in India to Protect Your Future?

Always keep your Nominee informed

A Term Insurance Guide for Disabled People

All about Life Insurance Calculators

वरिष्ठ नागरिकों के लिए ऑनलाइन टर्म इंश्योरेंस प्लान खरीदने के लिए गाइड

Guidelines for Linking Aadhar and PAN to Insurance Policies

Reasons Why Term Insurance Claims Get Rejected

Why Life Insurance Is Always a Smart Decision

What is Life Insurance?

Term Insurance Tips for NRIs in India

5 Common Life Insurance FAQs and Answers

Different Types Of Life Insurance In India

What is the Current Trend in Term Insurance?

Why You Should Never Cancel Life Insurance Policy

Why Renewal of Term Insurance Plan is Important

How to Use Different Types of Life Insurance for Retirement Planning?

Important Factors to Consider While Choosing the Right Term Period for Your Term Insurance Plan

How to Revive the Lapsed Life Insurance Policy?

Kotak Life Claim Settlement Ratio

How to Choose a Life Insurance Policy

Guide for Buying Online Term Insurance Plans for Senior Citizens

What Is the Procedure to choose a nomination in life insurance policy?

Biggest Life Insurance Myths

Should You Buy Life Insurance After Getting Married?

Staying Insured While Investing

Life Insurance for Millennials

What Is Surrender Value (Cash Surrender Value) in Insurance and how is it calculated?

What Is Social Impact Investing and How Does It Benefit Society?

How Many Insurances Should I Have?

6 Types of Insurance Policies in India

Benefits of Buying Term Insurance Plan for Senior Citizens in India

Insurance Vs Investment - A Guide to Your Financial Goals

Compare Different Life Insurance Products Offered By Kotak Life

5 Reasons Why You Need Life Insurance in College

1 CR Term Insurance Plan: How to Pick the Best 1 CR Term Plan

Details Required To Be Filled In A Life Insurance Form

Why One Must Buy Term Insurance before 25 Years

Sabse Pehle Life Insurance

Best Insurance Plans in India

Health Insurance VS Life Insurance

Why Buying a Term Insurance is Important for all Parents

5 Advantages of Life Insurance Going Digital

Is It Time to Review Life Insurance Policy of Yours?

What Is Staggered Payment Option Under Term Insurance Policy?

Think About Life Insurance Sooner than Later

9 Most Important Things You Must Learn About Paying Life Insurance Premium

How to Choose the Right Life Insurance Policy for Your Age?

जीवन बीमा पर ऋण

Is it Possible to Make Changes in a Term Plan’s Specification Post Purchase?