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Young consumers switching car insurance: focus on saving money - financial experts report
Changing car insurance: This is how young consumers tick If insured people between the ages of 18 and 35 change their car provider, money should be saved. 84 percent of the 387 respondents said this. Dissatisfaction with the insurer only plays a role in switching for 16 percent of those surveyed. The majority of those surveyed also value having a direct contact person (72 percent). 76 percent of those surveyed said they took out their vehicle insurance online. These results came from an online survey conducted by Clark. Appian Launches Connected Underwriting for Life Insurance in Partnership with Swiss Re Appian has announced the availability of Connected Underwriting Life...
Young consumers switching car insurance: focus on saving money - financial experts report
Changing car insurance: This is what makes young consumers tick
If insured people between the ages of 18 and 35 change their vehicle provider, money should be saved. 84 percent of the 387 respondents said this. Dissatisfaction with the insurer only plays a role in switching for 16 percent of those surveyed. The majority of those surveyed also value having a direct contact person (72 percent). 76 percent of those surveyed said they took out their vehicle insurance online. These results came from an online survey conducted by Clark.
Appian launches connected underwriting for life insurance in partnership with Swiss Re
Appian has announced the availability of the Connected Underwriting Life Workbench. It helps insurers unify workflows and data in an automated end-to-end process. The solution simplifies the work of underwriters by providing them with a central interface to assess and classify risks, handle exceptions and make case decisions.
Sarah Höbing strengthens the corporate communications team
Sarah Höbing (37) has been Gothaer's new corporate communications officer since October 1, 2023. She takes over communication regarding Anika Diller's composite insurance issues, who is currently on parental leave.
MetallRente, KlinikRente and ChemieRente: Joint AKS further education platform
In order to ensure continuous high-quality advice, the eBranchenCampus offer is a quality initiative for the three major industry solutions MetallRente, KlinikRente and ChemieRente. It will be officially launched on October 30, 2023. The eBranchenCampus is an online learning platform with web-based training that offers business partners the opportunity to deepen their existing specialist knowledge and identify themselves as AKS experts for the special offers of the industry pension schemes. Swiss Life provides the platform in its role as consortium leader for all three industry solutions.
Helvetia is further internationalizing its business with a branch in Great Britain
Helvetia Global Solutions receives regulatory approval for the specialty lines business for its British branch. This also includes underwriting international risks in the specialty lines business, for example in general aviation and the transport business. The UK office is headed by Marc Davis.
World Savings Day: Going without is the order of the day
Households with low incomes of up to 1,000 euros in particular are feeling the consequences of the price increase and have to go without to a large extent (42 percent) or to a small extent (42 percent). 80 percent of those surveyed with a household income of up to 2,000 euros are also reacting to the price increases by doing without. However, in this group the proportion of those who have to go without significantly falls to 29 percent. 51 percent say they have restricted themselves to a lesser extent. Of those surveyed with an average household net income of between 3,000 and 4,000 euros, only 32 percent said they did not have to go without. Foregoing on a smaller scale affected 51 percent and on a larger scale, 17 percent. These are the results of the wealth barometer of the German Savings Bank Association, for which 4,800 people were surveyed.
According to one Report from www.versicherungsbote.de, 84 percent of insured people aged 18 to 35 surveyed said they were changing their car insurance to save money. However, dissatisfaction with the previous insurer only played a role in the change for 16 percent of those surveyed. In addition, the majority (72 percent) value having a direct contact person. Interestingly, 76 percent of respondents purchased their vehicle insurance online. These results come from an online survey conducted by Clark.
The fact that young consumers pay particular attention to the savings potential when switching car insurance has an impact on the market. Insurers must increasingly offer competitive tariffs to attract and retain young customers. In addition, convenient online processing should be offered, as the majority of young policyholders take out their insurance via the Internet.
Another interesting development is the launch of Appian’s Connected Underwriting Life Workbench in partnership with Swiss Re. This solution simplifies the life insurance underwriting process by providing a centralized interface for risk assessment and case decisions. This allows insurers to work more efficiently and improve customer service.
Helvetia Global Solutions is expanding its business by establishing a branch in Great Britain. With official approval for the specialty lines business, including underwriting international risks, Helvetia can expand its offering and take advantage of new market opportunities.
In addition, the eBranchenCampus, a further training platform for the industry solutions MetallRente, KlinikRente and ChemieRente, will be introduced. This platform offers business partners the opportunity to deepen their specialist knowledge and qualify as AKS experts for the specific offers of the industry pension funds. Swiss Life provides this platform and thus contributes to the further development of the industry.
Another aspect impacting the market is consumer abandonment due to rising prices. Low-income households are particularly affected and have to go without on a larger or smaller scale. This influences purchasing behavior and has an impact on various industries. Companies should make sure to adapt their offerings to consumers' changing financial possibilities.
The above facts show that the insurance market is constantly evolving and the needs of consumers must be taken into account in order to remain competitive. Digitalization and online presence are playing an increasingly important role, while at the same time personal contact and individual advice are in demand. Companies that successfully implement these aspects have a good chance of being successful in the industry.
Read the source article at www.versicherungsbote.de