insurance | June 2, 2022
Two years of the pandemic have not only strained the healthcare system and claimed many lives, but the crisis has also made people around the world very insecure and eat away at their psyches. As a result, the need for security has increased, as a survey by the Swiss Re Institute shows.
The need for security has increased worldwide. This is shown by the survey conducted by the Swiss Re Institute.Photo: Keystone, Georgios Kefalas
The pandemic has led people to focus more on issues such as health and financial security, Swiss Re wrote on Wednesday. Consumers inquired about insurance or purchased insurance. All of this often happened online.
According to the survey of 11,000 people around the world, the need for security has increased, particularly in emerging countries. There, 60% of respondents said they were increasingly worried about their health. Health checks are carried out regularly in countries such as China and India. But this is also the case in the USA.
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Consumers are also concerned about their insurance coverage. This has been clearly demonstrated in well-developed countries like Japan or Great Britain. And in China and India, consumers dealt more intensively with insurance issues, with around 40% of respondents having purchased new insurance.
According to the study, digital touchpoints for health and insurance matters have grown in importance, especially among younger generations. While in developed markets purchasing insurance through online channels is increasingly seen as convenient, in emerging countries there is more emphasis on pricing issues and flexibility in product design.
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