Which insurers enjoy the greatest trust among German consumers? Trusted Brands 2023 provides answers.
According to a report by www.versicherungsbote.de, German consumers were also asked in 2023 about their trustworthiness of insurance companies. The “Trusted Brands” study has been carried out since 2001 and is intended to identify the most trustworthy brands in Germany. The survey was carried out in January and February 2023 and surveyed 4,000 consumers aged 18 and over online. According to the survey, the insurance industry as a whole was shown a “high level of trust” by 32 percent of those surveyed. This is still quite a high value compared to other sectors such as “vitamins/minerals”, “vegan/vegetarian products” and “weight loss”. Nevertheless, insurance companies did not receive particularly good results in the survey. …

Which insurers enjoy the greatest trust among German consumers? Trusted Brands 2023 provides answers.
Laut der Umfrage wurde der Versicherungsbranche insgesamt ein „hohes Vertrauen“ von 32 Prozent der Befragten entgegengebracht. Dies ist im Vergleich zu anderen Branchen, wie „Vitamine/ Mineralstoffe“, „Vegane/ vegetarische Produkte“ und „Gewichtsabnahme“, immerhin ein recht hoher Wert. Dennoch erhielten auch Versicherungen in der Befragung kein besonders gutes Ergebnis. Insgesamt wurden 145 verschiedene Versicherungsunternehmen von den Befragten genannt.
Unter den Top-Versicherungsgesellschaften befanden sich die HUK24 (3,0 Prozent/Rang 10), VHV (2,6 Prozent/Rang 9) und Provinzial (2,4 Prozent/Rang 8). Weitere Informationen zu den besten sieben Unternehmen finden Sie auf der Webseite von Readers Digest und Dialego.
Impact on the market and consumers
The results of the study show that the insurance industry is still struggling with a trust problem. Only 32 percent of respondents have a high level of trust in the industry, while the rest may have reservations and skepticism about insurance.
This lack of trust can have various effects on the market and consumers. For one thing, potential customers could be discouraged from purchasing insurance because of concerns about paying for claims. This could result in uninsured people being exposed to greater risk and financial burden in the event of a claim.
On the other hand, insurance companies rated as trustworthy in the survey are likely to benefit from a positive image and higher customer trust. These companies could see greater demand for their products, thereby increasing their market share.
Impact on the insurance industry
The study's findings could also have implications for the insurance industry as a whole. Insurance companies that received negative reviews or were not named in the survey may be able to make efforts to regain or increase consumer trust.
On the other hand, companies that have already been rated as trustworthy could focus their marketing strategies on building and strengthening their positive image. This could be done, for example, through targeted advertising campaigns or expanding their customer service.
It remains to be seen whether the results of this survey will have a long-term impact on the insurance market. However, continuous monitoring of customer trust and targeted measures to increase it could be crucial for insurance companies to ensure long-term success.
Read the source article at www.versicherungsbote.de