Survey participants: 1,000 participants, ages 18–41

Core priorities, family and property

6 out of 10
in committed relationships

6 out of 10 in committed relationships (strong orientation towards familial structures)

2/3rds
already have or plan to have children

2/3rds already have or plan to have children (10% 1 child, 12% >2 children, 44% plan to have children.)

92%
have or intend to buy property

92% have or intend to buy property (32% own 1 property, 5% own >2 more, 55% aim to buy in the future.)

Facts on insurance

Life insurance uptake

Yes  

No, but I plan to have it in the future  

I don’t know  

No and I don’t plan to have it in the future  

No, I had it in the past but I opted out  

Perceived adequacy of coverage

Yes, I believe it is enough  

Yes, it is enough for now, might increase it in the future  

I don’t know what my current coverage is  

No, I believe it is not enough  

Reluctance to purchase

Too young, might think about it when I get older  

It is too expensive for my budget  

Buying process is too complex and overwhelming  

It is an expense and not an investment. I am not interested if there is no Return on Investment  

I am just not interested  

Other  

Consumer behaviour

To buy it by myself through a website  

To buy through a financial adviser  

To buy through a phone call with an agent  

Hybrid: Choose the product by myself and finalise with an agent or a financial adviser  

To buy through superannuation  

Other  

Feeling that insurance should provide

Transparency: I know what I buy  

Safety and comfort  

Simplicity: the purchase process was quick and easy  

Stability and trust in the brand  

Loyalty recognition: Perks for choosing the same brand  

Partnership and being human: I feel the insurer is my partner, not just a seller  

Expectations of insurers

Responsiveness  

Self-services to remain independent  

24/7 customer service  

Personalised interactions and offering  

Top priorities when choosing insurers

  • Competitive pricing
  • Clear policy details
  • Brand reputation

Source: Swiss Re