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Health insurance companies focus on young and low-income consumers

Friday, June 20th, 2014

Global PwC, a leading insurance company said in their report that nowadays young people, and even low-income consumers, do not consider that the life and pension insurance is important to them, or that it is crucial to pay. The digital age allows insurers know more and choose the right health policy directly from the company. This enables companies to increase their market potential.

According to the survey conducted by international health insurance policy consultants revealed that 60 percent of consumers in the survey encouraged to purchase life insurance online. The report also noted that consumers between 18 and 54 years feel attracted by this option. The survey indicates that about 63 percentage of people find it easy to access online method because of 24/7 customer care support and cost-benefit. They can save up to 53% of their cost. These are evident reasons that would influence their decision to acquire an online health insurance.

In addition, those who prefer to buy their health insurance online can also enjoy the convenience and flexibility to communicate, see and compare offers from their insurance agency, in person and online. The year 2017 will dominate a new class of consumers formed by people who have increasing expectations and power: are better informed, connected and communicated. Insurance consultation agencies expected this to happen with the help of social media, mobile, analytics and cloud.

The level of demand varies globally, for example, consumers in the United Kingdom prefer to contact their insurance companies online (43 per cent), compared with only 5 percent of consumers in Mexico. In the United States, 60% of people consult directly with agencies online. However, insurance companies are expected this to grow up to 85% in the United States by the end of 2017.

The report concludes that insurers that remain at the forefront will be those that move constantly in search of new opportunities and act quickly to capitalize on them.

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