Confused consumers shy away from complicated insurance


British consumers feel the insurance industry lags behind others in how it addresses their needs and have given their strongest hint that greater simplicity would be welcomed.

They find life insurance products too complicated and are willing to switch to providers who are more transparent and communicate better, an international survey of insurance customers has found. According to the Ernst and Young study, Brits are more demanding in their expectations of customer service and rewards for loyalty than consumers from other countries. It is perhaps interesting to note that despite being some of the most proactive in educating themselves about products, Brits still find them too complex. But there is evidence that customers trust the industry and are willi...

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