Consultancy, Broadstone, has released its analysis of the Financial Conduct Authority’s (FCA’s) Financial Lives 2024 survey, showing that life insurance has a long was to go in creating good customer outcomes.
The survey, which quizzed nearly 18,000 UK adults in 2024, showed numerous points for concern among consumer sentiment regarding life products. Low satisfaction was a key area for concern, life insurance customers reported the lowest level of satisfaction in their provider among insurance offerings. Of the customers asked, 53% were satisfied with their life insurance provider. Looking at the general market 73% were happy with their content's insurance provider. Consumers do stay loyal to their providers, with 38% of life insurance customers staying with a provider for more than 10 ...
To continue reading this article...
Join COVER for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
- Receive breaking news stories straight to your inbox in the daily newsletter.
- Members only access to monthly programme 'The COVER Review'
- Be the first to hear about our CPD accredited events and awards programmes.
