Exploring attitudes towards protection insurance

Our research for The Syndicate 2018 explores the consumer mindset and attitudes towards protection insurance. The research looks to identify triggers as well as barriers to purchase, shedding light on potential challenges as well as opportunities for the industry in equal measure.

A segmentation exercise was carried out which enables us to highlight different consumer groupings across the market. These groupings are characterised by how open to the idea of protection they are and our research suggests the best way to interact with them and reach them with a protection related message.

The results this year showed that people are keen to be organised and proactive where their finances are concerned and this is a fit with the products insurers are trying to sell…

  • 44% of our sample suggested that they took a keen interest in their finances.
  • 68% of our respondents considered themselves to be good at managing money.
  • 71% of our sample said that they felt in control of their finances.
  • 61% of people claimed only to spend what was in their current account each month.
  • Of those using credit cards to fund monthly expenditure, just over half (56%), said that they managed to pay it off each month.

To find out more, read the synopsis of the report here.