Global
Consumer
Study 22-23
Hemant MehtaHead – Life & Health SCOR SE India Branch
18 th CILA Mumbai
8 December 2022
About GSC
01
7 Key Insights for Insurers
02
Agenda
About GCS
22 12k 7
9
thEdition
Since 2014
Markets
covered Responden
ts Insights for
Insurers
About GCS – Markets covered
About GCS – Demographics
Less than 4
a
Between 4 – 5
b
Between 5 – 7
c
Above 7
d
What is the Insurance Literacy
Score for India on a 10-point scale?
Q
1
Less than 40%
a
Between 41% – 60%
b
Between 61% – 80%
c
Above 80%
d
What percentage of respondents from India think they are familiar with Insurance products?
Q
2
Insurance Literacy Score
Recommendation from family and friends
a
An online / TV advert
b
Financial adviser
c
A phone call
d
Which is the top initial trigger for buying L&H Products in India?
Q
3
What initially triggered your purchase of the most recent
Life & H ealth product?
Where did you go for advice before buying your most
recent Life & H ealth
product?
Less than 5%
a
Between 5% – 10%
b
Between 11% – 20%
c
More than 20%
d
What proportion of respondents from India did not use any online services as a part of buying process?
Q
4
H o w d id yo u cl a im ?
H ow did you
buy?
Coupons/Gift Cards Charity Donations Free Insurance Cover Bonus Return on
Investment
More than 3 times a week
a
Once or twice a week
b
Rarely
c
Never
d
How often do you exercise for more than 20 minutes?
Q
5
H ow often do you exercise
for more than 20 minutes?
Generation Z
a
Millennials
b
Generation X
c
Boomers
d
Which is the most stressed generation?
Q
6
e
GCS 2022-23 – Empowering People
Data-Optimized Consumer
Experience
Consumers are happy for their data to be processed, if done
Through Insurance Literacy
Consumers consistently think they know more about
insurance than they do.
Embracing Tech Responsibly
As risk experts, we make decisions for consumers. This implies greater responsibility.
Global
Consumer Study 22-23
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