27 May 2013
Category: Industry News
27 May 2013,

The buying behaviors, attitudes and preferences of insurance customers worldwide are changing.
To understand this transformation and help insurers determine how they must adapt to attract, deepen and preserve customer relationships, we and market research firm Ipsos surveyed 24,000 insurance customers across seven global regions. Our insurance teams around the world then analyzed the customer responses.

The Global Consumer Insurance Survey 2012 survey findings, along with our analyses, are available in six regional and country reports. Ernst & Young hope that the survey data and our perspectives will test your thinking, challenge your implicit assumptions and reassess your customer strategy.

Survey findings suggest that to remain competitive, providers of life insurance and non-life insurance products must:

  • Recognize that the internet allows easy comparison of products and prices, requiring simple and transparent products that consumers can buy with confidence.
  • Seamlessly integrate existing distribution channels with online channels.
  • Invest in customer service and brand equity, given these factors are as important (if not more so in some regions) than price.
  • Determine ways to reward valuable customers to improve retention and cross-selling efforts.
  • Build brand value, as customers evaluating similarly priced products often revert to secondary buying factors like brand and reputation.

Global consumer insurance survey 2012 – Overview.
*Click on the link below to download and read the report. 

Article derived from Ernst & Young Web Portal (http://www.ey.com/GL/en/Industries/Financial-Services/Insurance/Global-Consumer-Insurance-Survey-2012)

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