Insurers sent about 20 percent of all payments to policyholders using this digital method. Last year, nearly one in five consumers received insurance payouts at least one time, and among those 49 million policyholders, a larger number than ever before received the funds via instant payments. That meant 2022 represented the third consecutive year of increases for the use of this method of payments. The rising interest in and use of instant insurance payouts indicates that insurers will be increasingly required to provide customers with options from which they can…
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Homeowners insurance companies caught overcharging 13 million policyholders
A new U.K. study has revealed that existing customers often pay considerably more than new ones. New Citizens Advice research demonstrates that up to 13 million U.K. customers are being overcharged by their homeowners insurance companies. Loyal customers and senior citizens are particularly victim to this trend. A very high percentage of homeowners over the age of 65 years have been paying more than new customers. The study revealed that 40 percent of home insurance policyholders over the age of 65 years and who have had their policy for over…
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