A recent survey conducted by Hansa Research, as reported in the Insurance CuES Report 2025, has revealed that 40% of individuals who have purchased non-life insurance policies, such as motor and health insurance, find it difficult to comprehend life insurance policies. The survey, which gathered responses from 3,600 insurance customers, both life and non-life, emphasizes the need for clear and simple information regarding the features and terms and conditions of life insurance products.
The survey’s key findings indicate that the primary motivation for purchasing life insurance is to secure one’s family. However, some individuals also buy life insurance for investment and retirement planning purposes. This trend is particularly prevalent among people over the age of 40, who often purchase insurance to secure their children’s education.
Changing Customer Expectations
The survey highlights several key trends in customer expectations within the insurance industry:
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Millennials Have Higher Expectations: Millennials are more likely to switch insurance companies in pursuit of better deals. They prioritize affordability, easy access to policies, 24/7 customer support, and digital services.
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Women Policyholders Have Different Priorities: Women tend to prefer policies that focus on savings, future income security, and child education. They also value affordable plans, smooth onboarding processes, and better communication with agents before and after purchase.
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Customers Are Used to Digital Services: Online services have become a basic expectation rather than a unique feature. Customers now anticipate seamless digital experiences when interacting with insurance providers.
The survey’s findings suggest that insurance companies must adapt to these changing customer expectations to remain competitive in the market. By providing clear, simple, and accessible insurance products, along with robust digital services, insurers can better meet the needs of their policyholders.
