Myth vs Reality – The expectation gap in the insurance industry
The insurance industry is constantly evolving and methods of distribution and customer contact are continuing to change. We spoke to 1,000 UK adults to understand their views on customer expectations from insurance companies vs the reality.
- An answer to the question: Is there an expectation gap between what customers say they want from insurers and what they actually receive?
- An analysis of the role of price comparison websites and multi-channel platforms in the insurance industry
- Our view on how the insurance industry needs to adapt to threats in the future
- How customer expectations have changed
- Policyholders’ relationship with their own insurers
- Areas where insurers must seek to improve
- Whether traditional strengths and advantages endure for insurers and where future opportunities exist
It is all too easy to assume that insurers are falling behind when it comes to this technological wave and change in consumer habits. While this might be true to some extent, there are also a number of inherent strengths that traditional insurers possess that must, and can, be built on to ensure they remain relevant in today’s digital world.