Earlier this September, Ian Hughes, CEO of Consumer Intelligence, was invited to speak at the Verisk Insurance Conference, where industry leaders gathered to explore the future of insurance. In preparation for this prestigious event, we conducted exclusive research to uncover the widening gap between how consumers and insurers perceive risk—a gap that has serious implications for the future of the home insurance market.
Our latest report, Reframing Risk: The Emerging Consumer Perspective in Home Insurance, presents the key findings from this research. The results reveal that consumers are far more concerned about emerging risks like rising living costs, cyber threats, and the impact of global events than insurers tend to address in their current offerings. For example, nearly half of consumers (44.55%) ranked rising costs as their number one concern, while 48.6% fear financial loss from cyber-attacks—yet many insurers remain focused on traditional risks like fire, theft, and natural disasters.
If insurers fail to align their products with these evolving consumer concerns, they risk losing relevance in an increasingly competitive market. During the Verisk event, Ian emphasised the importance of bridging this gap and shared our key recommendations on how insurers can innovate to meet modern challenges head-on.
Insights that will help you to stay ahead
For more insights into these findings and to discover how insurers can close the gap, download the full report today.
Comment . . .
Submit a comment