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Press release content from Business Wire. The AP news staff was not involved in its creation.

How United Kingdom Customers Purchased Critical Illness Insurance in 2020, 2021 Report - ResearchAndMarkets.com

March 30, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Mar 30, 2021--

The “How Customers Purchase Critical Illness Insurance 2020” report has been added to ResearchAndMarkets.com’s offering.

This report explores the attitudes, behaviors, and preferences of customers who purchased a critical illness policy in the last 12 months. It explores distribution and the purchasing journey, policy purchase triggers, the financial concerns of customers, and brand selection. It also sizes the critical illness insurance market using Association of British Insurers data.

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The attitudes, preferences, and behaviors of customers purchasing critical illness insurance in the past 12 months differed depending on factors including whether they purchased independently or with advice, what triggered them to purchase a policy, their top financial concerns, and product features sought.

Providers must seek to understand customers in order to encourage them to purchase cover. A range of factors must be acknowledged within policy design, purchasing channels, and marketing strategies.

Scope

  • The majority of critical illness policies are sold as a rider with a life insurance policy.
  • Over a quarter of customers seek advice from an insurance broker or independent financial advisor before purchasing a critical illness policy.
  • The most common monthly price range is £10-19.

Reasons to Buy

  • Understand consumer purchasing decisions and how these will influence the market over the next few years.
  • Improve customer engagement by recognizing what is most important to them and how you can adapt products and services to meet their needs.
  • Discover which providers lead the way in the critical illness space.
  • Adapt your distribution strategy to ensure it still meets customer purchasing behaviors.

Key Topics Covered:

  • Sizing the Critical Illness Insurance Market
  • The Purchasing Journey
  • Behaviors & Attitudes
  • Brand Selection
  • Future Market
  • Appendix

Companies Mentioned

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  • Aviva
  • Legal & General
  • HSBC
  • LV=
  • Royal London
  • Scottish Widows

For more information about this report visit https://www.researchandmarkets.com/r/hwj34v

View source version on businesswire.com:https://www.businesswire.com/news/home/20210330005794/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

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KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: INSURANCE PROFESSIONAL SERVICES

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 03/30/2021 11:20 AM/DISC: 03/30/2021 11:21 AM

http://www.businesswire.com/news/home/20210330005794/en