Insurance is a complex service: a thorough
understanding of clients’ needs, preferences, and behaviors is crucial to transforming
a need for protection into real demand for insurance.
Demand constraints are not always what we
think: trust and liquidity constraints matter as much as insurance knowledge,
awareness, and skills
Demand is a complex issue, with trust,
liquidity constraints, the quality of the client value proposition and
behavioural constraints emerging as the most important determinants of demand.
Practitioners need to understand the demand puzzle in their context,
identify the most important determinants and design specific product design,
pricing, promotion and distribution strategies.
Simple, plain-language contracts and claims
settlement within 5 days would be a good
starting point to building more trust. Consumer protection and client rights
and benefits are central messages in the campaign
Have a good day
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