Pandemic triggers explosion of digital insurance customers - research

The pandemic triggered a wave of insurance customers using digital for the first time.

Research from SAS revealed that around eight million people started using a digital service or mobile app for the first time due to the pandemic.

The research also revealed that more than one in four -  26.9 per cent – of UK insurance customers say they will only use digital services in future.

Around one in five - 21.1% - say they will use digital in addition to in-service interaction. 

The changing nature of customer habits is causing brokers to react.

As reported in Insurance Times, one broker plans to invest £30m and create 60 new jobs for a digital only brand due to customers becoming more digital focused post-pandemic. 

“The insights that can be gained from data produced by more digital interactions are key to insurers delivering more personalised and seamless customer experiences,” said Paul Ridge, head of insurance, SAS UK & Ireland. “But in order to extract these insights from data they need to leverage advanced analytics and AI so intelligent decisions are made, particularly at a time of need.

“Failure to deliver timely and meaningful interactions could be very costly, as customers are expressing a willingness to switch providers after only a few bad experiences.”