Insurers at risk of losing customers
Almost a third of non-life insurance customers in Yorkshire and the Humber have swapped their providers in the last year to save money, a survey has found.
Results for a YouGov online poll show that 31 per cent of consumers in the region have swapped insurance providers for non-life insurance policies while 28 per cent say they are more likely to use a price comparison website than 12 months ago. Both figures are close to the national averages (34 per cent and 32 per cent respectively).
On a positive note, fewer consumers say they expect to make spending cuts at their next renewal date than last year. Twelve months ago, 13 per cent of consumers with non-life insurance policies said they would consider stopping their contents insurance when it was next up for renewal compared with only four per cent planning that this year.
Also, 11 per cent of consumers were considering stopping their payment protection insurance and 13 per cent their travel insurance, however only six per cent and seven per cent respectively would this year.
From these figures it looks apparent that consumers are beginning to show some confidence in the economy and the recovery in general. However it doesn’t mean that we should be anymore creative in our approach to engaging with these customers.
Consumers may seem more committed to keeping their policies, they have not shown loyalty to their insurer, with over one third nationally (34 per cent) having changed insurer in order to save money. The increased movement in the insurance market is undoubtedly due to the rise in popularity of price comparison websites.





















.
as not really come as a surprise.
