One in 10 consumers trust insurance providers

Price determined as key loyalty factor

Hemma Visavadia
clock • 2 min read

Consumers have low levels of loyalty and trust for insurance providers, with pricing becoming a key factor during the cost of living crisis, according to research from Ello Group.

A survey of 1,000 consumers showed only 13% of consumers trust their current preferred life, health, care or home insurance provider. The research found that 8% of respondents have been loyal to their insurer for more than three years, while 42% of those surveyed have looked elsewhere for life and health insurance. When asked what would improve trust in insurers, one in five (17%) respondents said absorbing some of the financial burdens caused by the cost of living crisis would help. Meanwhile, 16% of surveyed consumers said it would be helpful for providers to offer discounts at r...

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