Insurance consumers globally are worried about the recent rise in insurance premiums, according to a study conducted by Berlin-based digital insurer wefox. The research included responses from more than 12,000 consumers in the UK, U.S., Poland, Italy, Switzerland and Germany. It concluded that seven out of 10 insurance customers are concerned about their ability to keep up with the rising insurance premiums. What's more, 40% of respondents who recently cancelled an insurance policy did so because they no longer found it affordable. Julian Teicke, CEO of wefox, said in a press release that the survey results reflect the need for "radical reinvention" in the insurance sector. The slideshow above illustrates other insurance-consumer trends that surfaced in the recent wefox Global Safety Report. The insurer said this report is expected to be semi-annual, and a fresh installment is expected before the end of 2022. See also: |
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
