Policyholders see limited impact from Consumer Duty

Research indicates

Cameron Roberts
clock • 1 min read

Research from NTT DATA UK&I, showed that 82% of consumers have reported no change in interactions with their insurance provider since Consumer Duty came into force.

The data, which surveyed 2,000 UK consumers, shows that 99% of consumers feel their insurance needs are "met to some extent" but 46% remain neutral or unhappy with their policies. This is underlined by a lack of customer trust according to the report, which says that 48% of consumers expressing doubt that their insurer has their best interests at heart.  When it comes to client reviews, 47% of insurers reach out to customers annually, with 40% of consumers saying communications were generic messages. Deborah Bale, head of general insurance and broking, NTT DATA UK&I, said: "The re...

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