P&C customers don't like buying insurance online, according to a recent survey of 5,000 Americans by Ernst & Young.
Nearly one-quarter of North and South American consumers choose online channels to research purchases but only 7 percent would buy insurance online, according to the survey. These numbers can be compared to 32 percent in Europe and 39 percent in Asia-Pacific who research online, and 14 percent in Europe and Asia-Pacific who would buy insurance online. E&Y concluded that American customers expect insurers to offer an array of communication methods.
The survey also found that 58 percent of Americans said price was the key driver in purchasing behavior. When buying, consumers said they considered brand trustworthiness (42 percent), customer service (34 percent), reputation (29 percent), and financial stability (25 percent).
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