Survey highlights focus on value for money, affordability of premiums, and trust in brands when buying insurance
Global technology and management consultancy Capco has published its 2023 US Insurance Survey of insurance policyholders, highlighting consumer attitudes to insurance, key innovation trends, and opportunities for insurers to increase trust and engagement. The new research reveals consumers' heightened appetite for personalized insurance offerings attuned to their life circumstances and values. The survey also highlights consumers' willingness to share additional personal data to secure tailored products or services, enjoy cheaper premiums and benefit from an enhanced claims process.
The survey, which polled 1,000 US policyholders between the ages of 18 and 65 years, found that 89% of respondents are willing to share additional personal data – a 17% increase over the past two years. Consumers' preferred method of data sharing is smart devices in the home (45%), followed by smartwatches/wearables (36%) and fitness health tests (36%).
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