CUTTING BROKERS OUT? Recent research from Chubb into consumers’ insurance-buying habits found that more than half of consumers have already shopped online for homeowner’s insurance, and even more say they’re likely to do so in the future.
80-100 70-79 60-69 50-59 < 49 No data Stable
Have shopped online for homeowner’s insurance in the past year
Source: Political Risk Map 2019, Marsh
A SPIKE IN CLAIMS Swiss Re expects claims from disasters that occurred in the last quarter of 2018 to come in at around $1 billion. The costliest catastrophes during that period were the November wildfires in California and the typhoons that hit Japan in September.
Are likely to shop online in the future
Said saving time is the main reason they shopped online
Sources: Winning the New Client Journey, Chubb, 2019
WHAT CONSUMERS WANT To find out where brokers fit into evolving consumer preferences, Chubb asked consumers to name the advantages of working with a broker and describe what they want out of their interactions with brokers.
BIGGEST Q4 CATASTROPHES BY PROJECTED CLAIMS VALUE
CAMP AND WOOLSEY FIRES
$150 TYPHOONS JEBI AND TRAMI
Like being able to talk to a real person in the event of a claim
Appreciate receiving advice on protecting their home Want brokers to prioritize the right policies over the lowest price
Source: Sigma, Swiss Re, 2019
80% Source: Winning the New Client Journey, Chubb, 2019
12/04/2019 3:30:48 AM
The magazine for America’s insurance broking and advice community.