The conference dedicated to a central theme for institutions, regulators and the insurance industry took place today in the Roman headquarters of Deloitte: the impact of legislation on “Value for Money” and the value of insurance products as perceived by the customer.
“Two years after the entry into force of the IVASS regulation, we observe a significant change in customer perception towards insurance investment products – say Ilenia Robusto and Alessandro Vidussi, Deloitte Partners. There is growing trust and appreciation, especially for the ability of these solutions to protect capital and guarantee adequate returns in an increasingly complex market context. This evolution reflects not only an improvement in the quality of the offer, but also a profound transformation in the relationship between customer and company, where the perceived value of the insurance investment policies is today strongly linked to the reputation of the brand and the financial solidity of the insurer. Furthermore, our survey highlights how the role of the consultant is becoming increasingly strategic: not only as a guide in understanding increasingly sophisticated products, but also as a facilitator of personalized solutions, capable of responding to the specific needs of new generations of consumers, who are more attentive and aware. This transformation represents a great opportunity for the insurance sector to innovate and strengthen its positioning, placing the customer at the center of a path of value and trust. lasting.”
The drivers of choice
The Company’s financial solidity and brand represent factors of fundamental importance for the choice of the insurance solution, indicated respectively by 56% and 49% of those interviewed on the agency channel. For approximately 50% of investors, the three main drivers of choice for signing an insurance investment policy are: the expected return, the security of the policy compared to a financial product and the quality of the advice received.
The value of consultancy
90% of investors perceive consultancy as a significant added value, especially for the clarity in the explanation of costs, benefits and risks, and for the customization of solutions. The perception of the value of consultancy support is greater among those who take out their insurance investment at the agency or bank, less accentuated among those who take out contracts via remote channels. Only a third of investors are willing to give up advice to reduce costs; this percentage fluctuates between 1 in 2 among younger investors (18-34 years) and 1 in 4 among adults/seniors. High net worth investors place greater value on the role of the advisor.
Product evaluation
Over 80% of investors assess the cost-benefit ratio of their policy as adequate and declare themselves satisfied with its performance, with a peak among those who purchased through the agency channel. 70% of those interviewed consider insurance investment products more suitable for safeguarding capital than traditional financial ones, with a stronger perception of security among those who purchase from an agency or bank compared to remote channels.
Product documentation
60% of investors evaluate the documentation received positively, considering it useful and easily navigable, with a decidedly greater appreciation among those who have signed up for a policy in the last 12 months. Of those who rated the documentation less positively, 9 out of 10 considered the consultant’s support in explaining the characteristics of the product through the agency and banking channel to be important.
