Three fourths of American consumers would still go to a home insurance agent than get it online. However, in the younger age brackets, they prefer getting theirs online, because of its ease and convenience. Moreover, younger people are more accustomed to using the Internet, then the older ones. These are the results of a recent survey conducted by Accenture, a Bermuda-based company.
Other results show that 1,005 consumers aged 18 and above own an insurance product.
Here are the key findings of the survey conducted:
- Consumers would want to buy insurance products through an agent, specially for auto and home insurance plans.
- Three fourths of the total number of respondents would want to buy life insurance products from trusted sources, such as a financial advisor or an employer.
- More affluent and younger consumers would want to buy products through the Internet than buying them through agents.
- 43 percent of respondents aged 18 to 24 would want to buy auto or home insurance online.
- Two thirds of respondents who currently own auto and home insurance plans currently do not have enough to pay for their bills.
- Half of the respondents fell they are paying more than how much their insurance premiums are actually worth.
- One fourth of the total number of respondents feels that they do not have enough information about their insurances, and how the current economic situation would affect their insurance policies.
- 17 percent of the total number of respondents is thinking of buying a new insurance policy, with the goal of getting more savings.
- Younger insurance plan holders are more likely to switch plans than those who belong to the older age bracket.
- Younger consumers have less confidence in their insurance policies than those who are older. 43 percent of respondents aged 18 to 24 have concerns about the ability of their insurance company to give them coverage. On the other hand, only 26 percent of consumers aged 45 and above fell that way.
The results of the survey show preferences and perspective about different kinds of insurance such as auto, life or home insurance. The data strongly suggests that the opinions of a person towards insurance depend primarily on age.