It is well known that older demographics are generally slower to adapt to online shopping and customer service experiences.
But the slow march of digital into the insurance sector is not a conversation limited to your date of birth. The behaviour of insurance customers changes most significantly before and after purchase.
According to research we conducted earlier this year, only a third of consumers meaningfully check their documents online. Just one in two said they would even be prepared to try making policy adjustments online and only 13% said they had had any success doing so.
The pattern is borne out across the value chain. The use of webchat is increasingly ubiquitous in other sectors – with 80% of businesses expecting to use them by 2020 – yet less than half the public would use such a facility for their insurance, despite it proving highly successful for the few who have.
There is, of course, an open question on how technology drives behaviour, which means the perception could understate the reality. Once insurers’ digital propositions are live, any kinks ironed out and the value clearly demonstrated, both appetite and adoption will almost inevitably rise. Ask any insurtech, and they’ll likely tell you that’s a bet they’ve already placed.
Ultimately, brands do need to consider the needs of those who are moving between channels, providing a consistent look and feel, but not at the peril of ignoring those who are not yet ready – or simply do not want – a digital insurance experience. The recent case of NFU Mutual, which we’ve also written about, proves the point.
These insights come from a survey we carried out using our in-house panel and from our Insurance Behaviour Tracker. If you've got questions on what your customers think of your online service and what it would take to drive greater usage of them, we can help you find the answers.