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5 trends that affect how customers relate to their insurers



In the two years since the World Health Organization declared covid-19 a global pandemic, we have seen major changes in how people expect to work, play, shop and take risks. It becomes clear that many of these new expectations are here to stay.

Every year, Accenture Interactive synthesizes observations from their designers and innovators around the world to identify potentially influential signals and trends. In it Fjord trends 2022 report we see how these changes in human relationships affect a variety of industries, including insurance.

Come as you are.

Covid-19 shutdowns gave workers around the world time to reconsider their life and work choices. For many, this greater sense of action resulted in movements toward freelance work and other new income streams from the sharing economy. As more of the workforce shifts to freelance full-time or part-time, home and personal vehicles will have more business use and the boundaries between personal and small business risk will be blurred.

This spring Insurance income landscape 2025 report, we estimate that the global revenue potential of insurance companies in the sharing economy will grow to $ 40 billion. The existing carriers now offer more products adapted for personal property that is exposed to sharing economy risk and innovative ways to underwriting Freelancer. At the same time like insurtechs Simplis also makes movements in the sharing economy.

2. The end of abundance thinking?

COVID-19 disrupted supply chains around the world, creating a persistent phenomenon that many have never experienced: shortages. This experience has questioned the effects of the culture of abundance on the environment and made more people think about their own consumption choices.

This is especially true among millennial and younger consumers. This spring Insurance consumer study, more than two-thirds (67%) of respondents aged 18–34 say they want digital experiences that encourage sustainable travel and shopping practices. The Swiss insurance company Helvetia responds to consumer demand with a program that enables customers offset CO2 emissions.

3. Next limit.

Metaversen, a virtual space where people increasingly spend time and money, becomes less conceptual and more real. Although still largely a player’s domain, the metaverse is a place where real money can be earned or lost, and the insurance industry is looking for ways to help customers respond to their risks.

While it’s still early days for deals like NFT insurance coverage, insurance companies are preparing for the inevitable expansion of the metaverse. For example, cryptocurrency is becoming an option for payment of premiums.

4. So much is true.

With the internet and smartphones, customers are now used to having a world of knowledge at hand. But finding accurate information from reliable sources is not always easy. In all industries, companies are challenged to be a reliable source of information at any time of the day and in whatever channel the customer prefers.

We see insurance companies and insurance companies respond to this need in a variety of ways. For example, customers of a general insurer in the UK can get their answers car insurance questions through their smart speakers, with answers from a constantly updated library of frequently asked questions. And French insurtech Fluo offers to help customers optimize their insurance coverage by analyzing agreements and identifying unnecessary duplication.

5. Handle with care.

The need to give and receive care is basically human and one that the insurance industry was created to help meet. After the covid era, care is now more visible, valued and openly discussed. We see this increase in care in the digital experiences that insurance companies create for customers and employees.

An example is Prudential Group Insurance. They help improve access for health insurance applicants for care services and crisis interventions, as well as self-service tools for psychoeducation, relaxation and coping training. This intervention is expected to improve disability outcomes by mitigating the mental health challenges that can accompany a disabling event.


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Disclaimer: This content is provided for general information purposes only and is not intended to be used in consultation with our professional advisors.


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