According to a report by Celent, 26% of online consumers said they would buy insurance online. Additionally, 28% said they prefer to interact with insurers via online channels. Are insurers ready to meet the demand?
The report, titled “The Online Consumer: Reading the Insurance Customer's Mind,” surveyed consumers in North America, Latin America, Europe and Asia with the goal of better understanding how the arrival of new technologies that influence consumer behavior — such as digital channels, telematics, social media, mobility and analytics — will affect the insurance industry.
According to Celent, the online consumer is not necessarily an insurance buyer or client, but many of them have an insurance policy, and they mostly use smartphones to connect to the Internet. A good amount of these customers are willing to buy insurance online, if there's an incentive involved: 32% said they would share data with insurers only if they are compensated via discounts on their policies immediately.
See more stats from the report in the infographic below, or download “The Online Consumer: Reading the Insurance Customer's Mind.”
(Click on image to enlarge.)
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
