EIOPA published its seventh Consumer Trends Report, which outlines key developments in the insurance and pensions sectors impacting European consumers.
Main findings of the report include:
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- The continued digitalisation of the insurance and pension sector affecting the whole life-cycle of a product continues as an important trend;
- The use of telematics in health as well as motor insurance is increasing;
- On-demand products are increasingly being brought to market alongside an increase in cross-selling of insurance with other products, such as add-on travel insurance when buying plane tickets;
- The longstanding shift from guaranteed to non-guaranteed products continues in the insurance and pension sector.
Insurance Europe comments: