Insurance survey shows consumers unclear about what they really have

Insurance Consumer ReportA new survey from Accenture, a managing and technology services company, has been released. The survey draws upon the experience of 7,000 people across 13 countries regarding their satisfaction with the insurance industry. The worldwide industry has come under a fair amount of scrutiny recently for glorifying insurance policies that are far less than what they claim to be. Accenture’s survey reveals major gaps between what customers expect to receive from insurers and what they are actually getting.

According to the survey, 84% of respondents said that they were satisfied with their insurance companies, but there was a serious disparity between what was being marketing and what they were paying for. The survey notes that transparency is of paramount importance to consumers as well as being able to understand what certain policies are. The insurance industry is somewhat notorious for marking the best qualities of their products and steering attention away from the least alluring aspects of their policies.

Despite this shortfall, the survey shows that young people in emerging insurance markets in countries like China and Brazil are most likely to take part in innovative initiative from insurance companies, especially those that make use of mobile technology. The survey also shows that younger people are much likeier to switch carriers in order to receive the coverage they need.

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