What Does Online Fulfillment Mean?
Online fulfillment, in the context of insurance, refers to an insurance company or agent processing and finalizing an order placed on the Internet. For an order to be fulfilled, the customer must purchase the product, a monetary transaction must take place, and the insurance company must deliver the product to the customer.
Insuranceopedia Explains Online Fulfillment
As technology has advanced, many businesses have moved parts of their operations online. Insurance companies are no exception, and many sell policies on the internet. Doing so allows them to lower overhead and reach a wide audience. An example of online fulfillment would be an auto insurance company that makes a sale on its website and then delivers the policy after it receives payment.