Insurance customers rate online portals just as highly as the reputation of the insurance companies Page 1

• 81% of survey participants say they prefer to use an online portal for routine tasks.
• A third of survey participants stated that online portals, along with reputation, are the most important criterion when choosing a provider.
• Nearly 60% say they would switch insurers to get an automated service that tells them exactly where in the process their claim is.

Sacramento, California–(Newsfile Corp. – September 5, 2024) – insurance.io, provider of a modern omnichannel customer engagement platform, today released consumer survey results showing that the quality of a portal/mobile app is an important factor in choosing a new insurance carrier, just as important as its brand and reputation. The portal/app experience is twice as important for consumers under 45 as it is for consumers over 45.

Given the strong trend toward selling and processing insurance policies through online portals and mobile apps, especially among Millennials and Generation Z, it is critical for insurers to understand consumer expectations regarding the user experience to remain competitive.

The independent study commissioned by guaranteed.io surveyed over 500 US insurance customers to understand the importance of digital channels in provider selection and usage preferences. While price and coverage options are the two most important considerations when choosing an insurance provider, the third most important factor, as stated by over a third of respondents, is tied between brand/reputation and experience with online portals/mobile apps.

Portals and mobile apps are preferred for all routine tasks

In addition, there is a strong preference across all age groups for conducting all insurance-related activities online: 81 percent prefer to use portals or mobile apps for routine tasks, 74 percent for policy renewals, 55 percent for taking out new insurance and even more complicated tasks, and 50 percent prefer them for filing claims.

“Insurance customers' expectations for online experiences are higher than ever, especially among Millennials and Generation Z. Our research has found that seamless online experiences are twice as important to these generations as they are to older insurance customers. Younger consumers are increasingly dominating the insurance market, which means insurers must provide a modern digital experience to attract and retain these customers,” said Steve Johnson, CEO of insurance.io.