How can insurance protect the customers who need it most
How can insurance protect the customers who need it most
Generations were more heavily impacted financially while older citizens faced a greater mortality risk of course many of the initial effects are still lingering as the virus persists recent ey research confirms how the pandemic fundamentally changed customer needs how they plan to increase their Financial Security and what insurance can do to seize the opportunity conducted between May and August 2021 it was surveyed 4000 to 200 people in seven countries Brazil Canada Japan the Netherlands the Philippines South Africa and U.S about the pandemic's financial impacts respondents paint going forward their interest in different types of insurance product and their buying preferences we also spoke to people in cities across the world to get their perspective the result of our reasons reveal consumers interest in new products with strong value proportions and specific features and an opponents an openness to interact and abide and buy in new ways insulators will need to engage customers will with empathy developed solution that strengthened Financial well-being Innovative products states and optimize digital distribution channels ultimately in suders my slave life their purpose of providing protection to those who need it most with an eyes to work with writing the protection Gap the 4K finding from the ey 2021
Global Insurance customer survey the first one is the pandemic cost almost Universal anxiety which has prompted consumers to take action and increase their interest in new protections the number two Beyond this share psychological impact emerging markets and younger Generations took the biggest Financial hit and showed the greatest interest in new product the number three Emerging Market customers are digitally Savvy open to sharing data and ready to buy new products in new ways number four because Corporate social responsibility matters to customers insurers need to strain to need to stand behind Chris values as well as grit products the treats of the covets 19 pandemic very well quite close to home losing a love one earlier than expected was to top concern for customer worldwide with 76 percent of overall respondent sites in concert clearly this was more than an economic crisis through the financials takes were hacked to financial well-being was the second highest concern cited by 73 of all respondents ey 2021 Global Insurance customer survey for for respondents were concerned about losing a loved one earlier than expected customers around the world also have much in common in terms of their reaction to the pandemic three out of fours or 75 percent and this event Mark King making Financial preparation in response to the pandemic specifically 50 plan to save money thirty percent point to develop emergency plans 23 when to speak with a financial advisor the implication is clear nobody wants to become uh like this again recovery and preparation for another crisis are the immediate priorities rather than retirement or estate planning significant percentages of responding are interested in new types of insurance protect they expect they express the greatest interest in policies that pay for hospitalization expenses 94 in emerging markets and 64 percent in developed markets are interest followed by an ad feature for life insurance that allows access to one in case of emergency 91 in emerging markets and 56 in developers could are interested they're also thinking about streptoming contradiction but products like insert like instruments that fund like education events are placed for credit card bills in the case of a job loss thank you for watching don't forget to like comment and subscribe
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