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Consumers want insurance companies to offer more

Posted On Tue, February 28, 2012

Ernst & Young released a survey showing that many consumers are unhappy with their current insurance situation and want their insurers to work with them more.

Thirty-six percent of policyholders think that the service in the life insurance industry is behind others, according to the Global Consumer Insurance Survey 2012. More than 40 percent of those polled noted their company does not do enough to reward loyalty. Another 71 percent said personal interaction is extremely important when improving their coverage, while 82 percent said the same thing regarding making a claim.

"The bottom line is that building a strong brand through new online and offline channels will have a positive impact on sales, especially among Millennials," says David Hollander, global insurance advisory leader for Ernst & Young. "Insurers should define how their brand will be delivered to customers and design all processes to consistently deliver on that promise."

Consumers who are not happy with their current insurer's methods don't need to stay with them, as there could be better options available. Comparing insurance quotes to find the best company and plan may be a good idea.

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