The Consumer’s Pulse: Perspectives on Life & Health insurance

Insurers are endeavouring to meaningfully scale digital efforts especially with a view to meet rising managing customer expectations and meaningfully scaling digital efforts. While the industry has taken significant strides towards digital adoption, yet many customers remain unsatisfied. Given this dynamic where Insurers have to adjust their approach as per the shifts in consumer behavior, especially in the pandemic, we conducted a consumer survey to understand consumers’ perceptions and attitudes.

Our report, ‘The Consumer’s Pulse: Perspectives on Health Insurance’ provides insights about customer sentiment on current processes and products being offered, interactions with various stakeholders and also gauges their attitude towards sharing additional information with insurers.

Key insights:

• 53% consumers feel the current medical data submission process is time consuming or complex
• > 50% are willing to share additional information in exchange for a discount on the premium
• 42% indicated that they share incomplete medical information with insurers