WEB BASED DISCLOSURE OF INSURANCE INDUSTRY IN INDIA

Abstract

Web disclosure is the most popular and advanced mode of communication among the companies. Web disclosure offers significant benefits to companies which includes disseminating information quickly, wide coverage at low cost, providing opportunities to small companies for global marketing, offering timely & updated information, providing interactive facilities etc. Insurance companies are also providing a variety of information on the websites to the various stakeholders. The study measured the web disclosure level of 52 insurance companies operating in India. The study covered 5 years from 2016-17 to 2021-22 to spot the changes in web disclosure level over the time period of study. The study found that the size of web disclosure for majority companies varied between 70-80% and companies have offered more mandatory public disclosure on their websites as compared to other voluntary information. Average web disclosure of life insurance was higher than the non-life insurance sector but the difference was not statistically significant. Non-life insurance sector showed more changes in web disclosure as compared to the life insurance sector. The study helped to know the level of technology adoption by insurance companies in communicating the information. Apart from this, insurance companies can evaluate themselves for their disclosure level as compared to other insurance companies in which areas they are required to improve themselves.