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Insurance industry achieves enormous growth in 5 years
Discover the slowest-growing legal protection providers and find out which companies have not been able to keep up in recent years. Analysis highlights the challenges in the industry. Read more!
Insurance industry achieves enormous growth in 5 years
The legal protection industry recorded significant growth of almost a fifth between 2017 and 2022. There was a significant increase among the 25 largest companies, with eight companies growing by more than a quarter. One top company even achieved an increase of almost 700 percent.
In order to increase the attractiveness of retirement provision and biometric products, a fourfold maximum interest rate is to be introduced next year. This could cause potential customers to wait until then. However, the companies Bayerische, Ideal and Stuttgarter are planning measures to prevent this.
A study determined which provider is preferred for new business. The quality of the products, application and claims processing, and accessibility were also evaluated. Surprisingly, the new business leader did not make it into the top three in the quality rating.
Furthermore, more than 130 basic skills insurance policies from over 30 product providers were examined based on 17 performance criteria. The analyzes showed that the majority of insurance companies do not have consistently good conditions. There is therefore potential for optimization in this area.
In addition, providers were positively rated and commented on in connection with certain keywords online. A new study lists which (direct) insurers, brokers, financial distributors and health insurance companies perform particularly positively.