Peace of mind is still motivating factor for those buying protection, however automated post-purchase operations can help provide this while unlocking growth, research by Munich Re has suggested.
A survey of 500 people conducted by Munich Re has suggested that 73% of potential protection customers stated that peace of mind was their main priority, while 25% do not apply because they believe a claim would not be paid. Munich Re believes that - even with insurers publishing high percentage claim statistics - the research reveals that people still doubt the industry's credibility. The survey also found that 62% of customers thought application length was in line with their expectations,...
Artificial intelligence at work
500,000 claims last year
Five generations under one roof
Survey of 2,004 shows