Beazley found that homogenised policies and reliable claims service are no longer enough to satisfy customers; businesses expect insurers to demonstrate a solid understanding of their operations and the risks they face, and to add value through risk management tools, insights, services and flexible coverage.
Forty-eight per cent (48%) of those surveyed said their trust in insurance has increased since the start of the COVID-19 pandemic. However, only 54% believed that insurance was meeting their businesses’ challenges very well.
Among the reports key findings:
- A quarter of business leaders struggle to understand what coverage they need
- 19% find