Digital contracts increasingly popular: Over 60% of Swiss choose online insurance - new study

Summary

According to a report by Handelszeitung, digital insurance contracts have become increasingly popular in Switzerland. According to the Swiss Insurance Monitor at the University of Lucerne, over 60% of people surveyed have taken out their property or health insurance online. This represents a significant increase compared to the previous year, in which just under half of those surveyed had done so. Insurance company websites, online comparison portals and customer service via email are particularly popular.

Impact on the market

The increasing trend towards digital insurance contracts has far-reaching effects on the market. As more and more customers take out their insurance online, traditional sales channels such as personal consultations or going to a branch are becoming less and less important. Insurance companies must optimize their online presence and customer service to remain competitive. This can lead to increased investment in digital technologies and platforms.

Impact on the consumer

For consumers, the ability to purchase insurance online offers a number of benefits. Online comparison portals provide a quick and easy overview of various insurance offers and prices. In addition, the transaction can be completed online around the clock and from any location. This allows consumers to save time and effort by not having to physically go to a branch or make an appointment.

Impact on the insurance industry

The increasing popularity of digital insurance contracts represents a challenge for the insurance industry. Traditional insurance companies must increasingly digitally transform themselves in order to remain competitive. At the same time, digitalization also opens up new opportunities to automate processes and reduce costs. For example, insurance companies can use machine learning and artificial intelligence to create personalized offers and improve customer service.

How www.handelszeitung.ch reports, the trend towards digital insurance contracts is expected to continue. Consumers will increasingly use the convenience and flexibility of online platforms and continue to avoid traditional sales channels. The insurance industry must therefore continue to invest in improving its digital offerings to meet customer needs and remain competitive.