While nobody – least of all ITIJ – would want to kick the insurance industry at this very stressful global moment, it does seem worth bringing attention to the data insight specialist’s findings. Its recent study suggested that when it comes to communication with customers during the Covid-19 pandemic, insurance comes bottom of the list of sectors, with 35 per cent of customers saying they had received communication from their insurance provider, compared with 47 per cent for mortgage providers, 56 per cent for gyms, 62 per cent for fast food companies, 64 per cent for banks and 84 per cent for supermarkets.
Additionally, 39 per cent of people who are due to renew insurance cover of various kinds in the months ahead are worried that premiums will be unaffordable. Half of these say that they have contacted their insurers to discuss the issue, though responses run the gamut from ‘proactive’ to ‘dreadful’.
Of course, the insurance industry is under as much pressure as every other industry during this unprecedented crisis, and pointing fingers isn’t always helpful. But communication is important at the best of times – at the worst of times, it’s essential.
“At this point in time,” said Ian Hughes, CEO of Consumer Intelligence, “consumers need information and clarity from their service providers, and they need empathy. Many will face financial hardship in the coming weeks and months, and people are worrying about how they are going to survive. It is imperative that all sectors maintain open lines of communication to provide peace of mind for their customers at this very difficult time. Consumers have long memories.”