Motor vehicle insurance 2022: ADAC survey shows willingness to change - financial expert analysis

Motor vehicle insurance 2022: ADAC survey shows willingness to change - financial expert analysis

According to a report from www.adac.de, a recent survey by ADAC Autoversicherung shows that a high proportion of drivers in Germany are thinking about changing their car insurance. 36 percent of those surveyed are thinking about changing insurance, six percent have already decided and three percent have already taken out new insurance. This data indicates an increased willingness to switch, which is very important for the insurance industry and the market as a whole.

Almost half of respondents (47 percent) have changed their car insurance in the last five years, indicating dynamic competition within the industry. What is particularly noticeable is that older drivers are increasingly making purchases online. While 38 percent of those surveyed took out their insurance online, the proportion of drivers between 50 and 59 years old who took out insurance online was 46 percent.

Another interesting aspect of the survey is the importance that drivers place on the claims processing and service of their insurance company. 71 percent of those surveyed attach great importance to uncomplicated claims processing, while 66 percent consider the price and 60 percent the scope of services of the vehicle insurance to be very important. These insights can help insurance companies tailor their offerings and services to meet consumer needs.

Overall, the results of this survey highlight a high level of dynamism in the motor vehicle insurance market as well as changing consumer preferences and behavior. Insurance companies are therefore faced with the challenge of adapting their offers and services in order to remain competitive and meet the needs of consumers who are ready to switch.