Income Protection News
Web-smart consumers visiting many websites before buying cover
Consumers are utilising the internet to search for insurance products such as income protection or life cover by visiting a variety of websites before committing to a policy, new research shows.
A customer experience survey carried out by Global Reviews has found that 20 per cent of customers research more than six insurance provider websites when looking for cover.
While 65 per cent of people go on to buy online, only one fifth (22 per cent) want to make a claim online, while 27 per cent revealed that they use the internet to ask specific questions about the cover.
According to Bertie Stevenson, director of Global Reviews, there is a lot that insurance providers can do to improve the customer experience of people using their online services.
"It is therefore very important that providers offer a similar level of customer experience, to ensure that customers choose the best policy, not just the best website," he recommended.
Both Aegon and Legal & General have introduced streamlined web-based systems in a bid to ensure there are quicker approvals of critical illness cover and life insurance applications.
The new forums have done away with prolonged and vague procedures in the underwriting process, which are blamed for some rejections.
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