Earlier this September, Ian Hughes, CEO of Client Intelligence, was invited to talk on the Verisk Insurance coverage Convention, the place trade leaders gathered to discover the way forward for insurance coverage. In preparation for this prestigious occasion, we carried out unique analysis to uncover the widening hole between how shoppers and insurers understand danger—a spot that has severe implications for the way forward for the house insurance coverage market.
Our newest report, Reframing Danger: The Rising Client Perspective in Residence Insurance coverage, presents the important thing findings from this analysis. The outcomes reveal that buyers are way more involved about rising dangers like rising residing prices, cyber threats, and the impression of world occasions than insurers have a tendency to deal with of their present choices. For instance, almost half of shoppers (44.55%) ranked rising prices as their primary concern, whereas 48.6% worry monetary loss from cyber-attacks—but many insurers stay centered on conventional dangers like hearth, theft, and pure disasters.
If insurers fail to align their merchandise with these evolving shopper considerations, they danger dropping relevance in an more and more aggressive market. Throughout the Verisk occasion, Ian emphasised the significance of bridging this hole and shared our key suggestions on how insurers can innovate to fulfill trendy challenges head-on.
Insights that can assist you to to remain forward
For extra insights into these findings and to find how insurers can shut the hole, obtain the total report in the present day.
Remark . . .