All articles by GlobalData Financial
GlobalData Financial
Most global consumers prefer to pay insurance in instalments as cost-of-living crisis bites
GlobalData’s 2024 Emerging Trends Insurance Consumer Survey found that 65.4% of global consumers prefer paying for their insurance in instalments because of the cost-of-living crisis
Insurance customers around the world are ready to interact with AI tools
A GlobalData survey found that 39% of all respondents would be quite or very comfortable having an AI tool decide the outcome of an insurance claim.
Insurance insiders are divided on whether home or motor insurance premiums will rise the most
While the cost-of-living crisis has pushed prices up, rising costs linked to home and motor insurance lines have split opinions on which premiums will fare worst.
Insurance insiders say AI has not met expectations yet but still holds future potential
The optimism held by the majority of insurance insiders reflects the belief that AI’s development is still in the early stages.
Crypto crashes will increase insurance interest
According to a 2024 GlobalData poll, 44% of respondents said they would be interested in an insurance product for cryptocurrency wallets.
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More UK consumers perceive that brokers provide better life insurance deals
Life insurance policies tend to be more complex in nature than other more commoditised non-life policies, driving demand for advised sales.
Businesses must strengthen their defences against AI-driven cyber threats
As AI adoption grows, the need for robust cybersecurity measures and comprehensive insurance coverage becomes even more critical.
Online aggregators are the least popular way to buy annual travel insurance in Canada
The proportion of Canadian consumers using online aggregators for travel insurance is decreasing, falling by 4.4 percentage points compared to 2022.
Pet insurance prices are pushing owners to shop around and switch provider
As the cost-of-living crisis continues to squeeze household incomes and insurance becomes less affordable, pet policyholders will look to cut costs, resulting in increased switching activity.
Lemonade’s affordable UK home insurance product will boost brand awareness and sales
Lemonade’s success can partly be attributed to the company’s striving to keep insurance simple and affordable.