New data published by the Chartered Insurance Institute (CII) has revealed that overall consumer satisfaction with travel insurance policies has reached its highest level since the organisation’s Public Trust Index survey began in July 2018.
Around 1000 consumers and 1000 small- and medium-sized enterprises (SMEs) are asked about their satisfaction with a range of insurance policies every six months, and the Index is the longest established industry measure of its kind in the UK.
The latest results show that 87 per cent of consumers who had recently bought a travel insurance policy were satisfied with their purchase, compared to just 76 per cent in July 2021, when the sector was facing challenges following the Covid-19 pandemic.
Only five per cent of consumers said they were not satisfied with their travel insurance purchase in these latest data – compared to eight per cent in July 2021 – with the remainder neither satisfied nor dissatisfied.
CII Group Chief Executive, Alan Vallance, said: “Our Public Trust Index is an important barometer for the whole insurance profession. While it’s pleasing to see an improving picture for some groups of consumers, and for some policies, much like our UK summer, it’s by no means a sunny outlook across the insurance market. The CII encourages our members and other sector participants to act on these latest findings, to maintain and build public trust in the insurance profession.”