Shoppers trying to insurers to offer well being and wealth recommendation

Wellness has been elevated to the highest of shoppers’ minds as life expectancy rises and issues like demographic tendencies, the retirement financial savings hole, medical inflation, and the scarcity of healthcare staff mount.

Learn extra: Why monetary, psychological and bodily well being are interlinked

Based on the examine, 37% and 24% of policyholders rank insurers as their high potential companions for each monetary and bodily wellness, respectively, and 69% and 67% of shoppers, respectively, are eager about these topics.

The findings point out that 83% of respondents need on-demand customer support, 78% need ongoing bodily and monetary counseling, and 74% need extremely customized value-added companies and rewards.

Nonetheless, solely 8% of insurers have developed sturdy wellness-centric worth propositions and the required capabilities. In the case of hyper-personalization, insurtechs are forward of insurers in key areas reminiscent of leveraging AI/ML (28% for insurtechs, vs. 14% for insurers) and cloud (44% insurtech vs. 19% incumbents).