DXC Technology Report: The voice of the insurance consumer

The insurance industry must keep pace with the expedited technological advancements around the globe. Understanding consumer sentiment, feedback, preferences and willingness to adopt new technology helps insurers improve customer service and experience.

It is crucial that insurers inform their strategy based on what is important to their consumers, and ultimately increase customer loyalty and general sentiment toward the industry.

DXC Technology partnered with Telsyte in 2023 to survey 2,001 consumers across 15 countries in the Asia Pacific and Middle East regions. The findings in this report give insight into what insurance consumers value and expect from their insurance provider.

The report explores how consumers are responding to changes and developments influencing the insurance industry. For example:

• Consumers are ready for more personalised policies and services, as well as the ability to seamlessly interact with digital channels, including AI.
• Although many consumers are accepting of AI as part of service delivery, they also value interacting with a human agent during key decision points in the insurance life cycle. Understanding this is imperative to building trust and influencing customer retention.
• With 75 per cent of survey respondents having made an insurance claim, they are well positioned to provide feedback on the claims process and suggest how to improve and further digitise, where appropriate.
• Data security continues to be important to consumers, with 85 per cent of survey respondents indicating that they would change providers if their existing insurer had a data breach. While consumers expect insurance providers to keep pace with technological advances, these must be embedded with the appropriate security.

As insurance is an industry built on trust, insurers should continually review insights and feedback from customers to evolve the services offered. Keeping pace with digital advancements and integrating them into solutions will improve the overall customer experience, influence consumer loyalty and lift the industry’s reputation.

The purpose and intent of this research is to provide accurate, current insights on the shifts in consumer sentiment and show how these shifts can open doors to new opportunities for insurance leaders.  

Read DXC's full report