COVID-19 creates split in personal lines priorities

Research from the Chartered Insurance Institute has uncovered a split in customer priorities when purchasing personal lines, created by COVID-19. Those heavily affected by the pandemic put more value on clarity and choice around claims, while those who have not been financially hit, still prize low premiums.

Matt Connell, director of policy and public affairs for the CII, said: “Insurance should provide a safety net for consumers. For too long the focus of consumers has been on price but COVID-19 has started to make many consider the strength of the safety net and value of the cover provided.

“Consumers hardest hit financially by COVID-19 want the profession to shift the conversation from price to the comprehensive nature of the coverage and service they can expect if they need to make a claim. It is more important than ever that claims processes are as clear and simple as possible for consumers to understand.”

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