Wellness has been elevated to the highest of shoppers’ minds as life expectancy rises and issues like demographic traits, the retirement financial savings hole, medical inflation, and the scarcity of healthcare staff mount.
In keeping with the research, 37% and 24% of policyholders rank insurers as their prime potential companions for each monetary and bodily wellness, respectively, and 69% and 67% of shoppers, respectively, are excited 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 providers and rewards.
Nonetheless, solely 8% of insurers have developed robust wellness-centric worth propositions and the required capabilities. In relation to hyper-personalization, insurtechs are forward of insurers in key areas akin to leveraging AI/ML (28% for insurtechs, vs. 14% for insurers) and cloud (44% insurtech vs. 19% incumbents).