Health, safety, and financial security are more important than ever to consumers during the COVID-19 era. While consumer reactions vary, preventing and recovering from losses through insurance has become essential to consumers’ well-being.
We set out to learn on how the pandemic has changed consumer behavior and ways in which insurance companies can respond by changing their products and services. We surveyed 47,810 insurance consumers as part of our bi-annual global consumer study to understand their expectations, behavior, and experience of industry products and services during COVID-19.
Our learnings can help insurers navigate the remainder of the pandemic and beyond. COVID-19 consumer behavior includes three key consumer reactions to COVID-19 that stand out as likely to create long-term impacts.