When it comes to choosing an insurance provider, consumers don’t consider price to be a key differentiator. In fact, speed of resolution and transparency of prices were cited by survey respondents as the top two criteria when choosing an insurance provider.
What matters most in choosing a provider?
Results from the Accenture Multichannel Distribution Insurance Consumer Survey show that when it comes to choosing an insurance provider, price isn’t the first consideration.
As part of the survey, we asked consumers how important various criteria were in their choice of insurance provider. As shown in Figure 5, the top criteria were:
- Speed of problem resolution (75 percent)
- Transparency of prices and charges (70 percent)
- Insurance products and services that meet my needs (64 percent)
Further, based on the survey results, only one in three consumers is satisfied with the service received from their current insurance provider. And only 20 percent of survey respondents said that they would definitely buy more insurance from their current providers.
Learn more about the Accenture Multi-Channel Distribution Insurance Consumer Survey.