Key take aways from Itello Morning Insights Dec 2020

Itello invited, together with our partner Accenture, representatives from the Nordic Life and Pension industry to join this exciting Morning Insights webinar “How should insurers respond to consumers evolving mindset". Henrik Allert, Vice President, Industry and Product Strategy at Itello, hosted the webinar and Jori Johansson, Managing Director at Accenture, presented the latest research around consumers evolving mindset and the future insurance trends that all insurers should tap.

Here you can take part of the key take aways, see the webinar and download the presentation.

Key take aways

More than 4 000 financial services respondents across the Nordic countries participated in the Consumer Survey for Insurance from 2020. The results below are a comparison to the 2018 survey. 

  • Consumers are much more interested in personalized insurance services today, in which premiums and contributions are linked to personal activity. 
  • Although consumers are equally willing to share their data with their bank and insurer as they were two years ago, they are now more prepared to share their data in return for cheaper, personalized and more efficient services.
  • Nordic consumers are more likely to consider purchasing insurance from non-traditional insurance providers today than they were two years ago.
  • Insurance clients are willing to share personal data to gain better services – “better” services go to digital channels.
  • 5+ year growth of e-Commerce has materialized in 2020 – in some markets digital insurance sales has doubled.
  • The use of digital channels to communicate with Nordic insurers has increased significantly in the last two years. 65% communicate with their insurer via mobile apps or website at least annual basis, compared with just 48% two years ago. Contacting insurers over the phone and online via desktops/laptops has also surged.

Download the presentation here

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