Summary |
To help insurers rise to this challenge. Ernst & Young undertook a research project with the independent firm lpsos to canvass the opinions of 24,000 consumers across seven regions around the world between August and October 2011. In this research, we set out to explore what drives consumer behavior in the life and non-life sectors, covering the whole customer life cycle from initial research through purchase, servicing, repeat purchase, claims and termination.
The data, compiled from online and face-to-face interviews across a representative sample by age, income, location and product holding, has been analyzed by our insurance teams around the world.
This detailed research has enabled us to drive out both deep local insights and a global perspective on how consumer views are changing and how companies need to evolve if they are to capture the growth opportunities now after the global economic crisis settles.
Global findings are presented in this report and our deeper insights in the six accompanying regional and country reports. We very much hope that the data and perspectives we offer will provide you with an opportunity to test your thinking, challenge your implicit assumptions and re-assess your customer strategy. We also hope these reports will inform discussions about the opportunities you have to reshape your business to deliver consistent and profitable growth.
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