Swiss Re: Protection should be bought, not sold


The challenge for protection insurers in today's market is to adapt their approach so products are "bought, not sold", a report by Swiss Re concludes.

The reinsurer's latest study Life insurance: focusing on the consumer study found the public increasingly wants to be "empowered" to make informed decisions rather than "sold" life insurance. Most households surveyed across the world were still underinsured due to concerns around value for money, perceived lack of need, product complexity, "cumbersome" buying processes and lack of trust in the industry. "Better knowledge of people's behaviours and needs will enable the insurance industry to provide improved quality and coverage" said Thierry Léger, head of Swiss Re life and health pro...

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